Thinking about applying for a loan with us? This Q&A guide will walk you through everything you need to know, from membership requirements to the loan approval process.
In order to be eligible for a loan at SHFCU, you must live, work, worship, attend school, or volunteer in the towns of Amherst and Tonawanda. Membership is also open to immediate family members of current members. You can become a member by opening a share account with a minimum deposit of $5 when your loan is finalized.
SHFCU offers a variety of loan options, including auto loans, home equity lines of credit (HELOCs), share secured loans, and signature loans. You can find more details about these options on the SHFCU website www.sweethomefcu.org.
Applying for a Loan
Yes, applying for a loan can cause a temporary dip in your credit score because a hard inquiry is made to assess your credit history.
There are no application fees at SHFCU at this time.
HELOC loans will not incur closing costs if you keep the line open with a balance for three or more years. If the line is closed or paid off prior to a three year period, borrowers are required to repay the closing costs.
Having a good credit score, a steady income, and a low debt-to-income ratio will all improve your chances of loan approval (hint: check out the article in this issue about improving your credit score!)
SHFCU’s online application process is designed to be hassle-free. You will need to provide income verification during the application process, such as your most recent pay stubs, social security statement, or pension statement.
It is possible to get a loan with less-than-stellar credit, but you will likely receive a higher interest rate.
The approval process can vary depending on the complexity of the loan and your financial situation. Generally, SHFCU aims to provide an answer within one to two business days. In some cases, a more complex application may require additional review.
Fill out the form below or give us a call at (716) 691-9187 to chat with one of our loan officers today!
Life doesn’t always go as planned. An unexpected car repair, a medical bill, or a job loss can quickly disrupt even the most fine-tuned budgets. That’s where an emergency fund comes in – a safety net that catches you when things get bumpy.
Why It Matters
Imagine facing a sudden expense. Without an emergency fund, you might rely on high-interest credit cards or dip into long-term savings, jeopardizing your future goals. An emergency fund provides a buffer, allowing you to weather unexpected storms without going into debt.
How Much Do You Need?
Experts recommend saving three to six months of living expenses. This can vary – consider your essential monthly bills (housing, food, utilities) and settle on a realistic amount that keeps you feeling comfortable and confident.
Building Your Nest Egg: Step-by-Step
Building an emergency fund takes discipline, but even small contributions add up:
Sweet Home Federal Credit Union offers a wide variety of accounts, some that are perfect for an emergency fund. By prioritizing consistent saving, you’ll be prepared for whatever life throws your way, and give yourself some peace-of-mind. Get in touch with us today to set up your emergency savings account!
Summer’s winding down (UGH!), and whispers of “back to school” fill the air. But before you brace yourself for sticker shock, check out these tips to conquer back-to-school shopping without breaking the bank!
Plan and Conquer:
Pro Tip: Turn list-making into a bonding activity! Let your child decorate the list or pick out fun stickers to mark off completed items.
Shop Savvy:
Pro Tip: Check store flyers and websites for specific coupon codes or promotions before you head out.
Think Outside the Box:
Pro Tip: Host a clothing swap party with friends or classmates to exchange gently used items.
By planning, shopping smart, and getting a little creative, you can conquer back-to-school shopping without sacrificing your budget. Remember, a successful school year starts with a happy wallet too!
The internet is fantastic. A digital playground, if you will. But it can also be a breeding ground for scammers looking to steal your hard-earned money. Financial scams can appear anywhere online, from social media posts to seemingly legitimate emails. But fear not, savvy web surfers! Here’s how to identify and avoid these online cons:
Red Flags on Social Media:
Bonus Advice: Do your research! Look up the company or individual behind the post. Check for negative reviews or complaints online.
Phishing Emails:
Pro Tip: Hover over a link before clicking to see the actual website address. If it looks suspicious, don’t click!
Website Warnings:
Extra Caution: Check the website’s security features. Look for the padlock symbol in the address bar and a URL that starts with “https” (not just “http”).
Staying Safe Online:
By following these tips and staying vigilant, you can protect yourself from online financial scams and keep your hard-earned money safe. Remember, knowledge is power – the more you know about how scammers operate, the less likely you are to fall victim to their schemes.
Sunshine, festivals, and endless adventures – Western New York explodes with life during summer! Whether you crave the buzz of Canalside or the fresh mountain air of Ellicottville, there’s something special waiting for you. Here are a few ideas to jumpstart your summer bucket list.
FOR THE FOODIE
INIZIO – Downtown Buffalo, NY
Calling all pasta fanatics! Inizio, a newcomer to the Buffalo dining scene, is a haven for fresh, made-from-scratch dishes. Nestled in the heart of Elmwood, this cozy spot offers a unique twist on Italian classics, blending them with American flair for an unforgettable experience. Get ready to fall in love – your taste buds will be begging for a return visit!
FOR THE SPA ENTHUSIAST
ELLICOTTVILLE SALT CAVE & SPA – Ellicottville, NY
Craving a rejuvenating escape? Ellicottville offers the perfect day trip! Breathe easy at the Ellicottville Salt Cave & Spa, where 20 tons of imported European salt create a healing atmosphere. Relax further with a massage or facial, all within this tranquil spa. Top it off by exploring the charming village nearby – delicious restaurants and breweries await!
FOR THE ART LOVER
BUFFALO AKG ART MUSEUM – Delaware Park, Buffalo, NY
Formerly known as the Albright Knox Art Gallery, Buffalo AKG is an art museum located right in Delaware Park, in downtown Buffalo. It was closed for almost two years, and has recently reopened for art lovers to rediscover.
FOR THE SWEET TOOTH
LAKE EFFECT ICE CREAM – Lockport, NY
If you are an ice cream lover, chances are you’ve heard about Lake Effect. They churn out unique, small-batch flavors you won’t find anywhere else. Made with fresh ingredients and local flair, their shops in Lockport and Buffalo are the perfect pitstop to cool down and indulge in a taste of Western New York this summer.
FOR THE BEER FANATIC
WAYLAND – Orchard Park, NY
Southtowns, rejoice! A fresh brewery has arrived, and it’s a game-changer. Owned by the same folks behind The Grange Community Kitchen and West Rose (you know, the design masters!), this stunning space boasts a beer hall, event space, bocce court, and a sprawling beer garden. Get ready for summer hangs and delicious brews – we’ll see you there!
Investing into your home is exciting, but choosing the right contractor can feel overwhelming. Fear not! This guide equips you with the knowledge to find a reliable partner for your renovation journey.
The Foundation: Qualifications & Experience
A solid foundation starts with a trustworthy contractor. Here’s how to ensure that:
Clear Communication & Cost Management
Open communication and transparent costs are essential for a smooth project:
Securing the Deal: A Strong Contract
A well-defined contract safeguards both you and the contractor:
By following these tips, you’ll likely find a reliable, trustworthy contractor to help with your home improvement needs. And remember – trust your gut. If something about a contractor raises red flags, walk away, and continue your search.
But before you begin your quest to find the right contractor, you’re going to need to assess your finances, and whether or not a home line of credit (HELOC), or a home equity loan is in your best interest. Did you know we offer a HELOC with no monthly fees?
At Sweet Home Federal Credit Union, we’re passionate about empowering you to reach your financial goals. Whether you’re budgeting for a dream vacation, saving for retirement, or tackling student loans, knowledge is key. Podcasts are a fantastic way to learn about personal finance on the go, during your commute, workout, or while relaxing at home.
Here are some of our favorite financial podcasts, categorized to fit your specific needs:
Financial Fitness Boot Camp:
Investing 101:
Making Money Fun (and Informative):
Remember, this is just a starting point! There are countless fantastic financial podcasts out there. Explore different shows, find hosts whose styles resonate with you, and enjoy the journey to financial wellness.
At Sweet Home Federal Credit Union, we understand the importance of safeguarding your financial information. That’s why we want to assure you that we will never send text messages requesting personal details, account numbers, or passwords.
In today’s digital world, phishing scams can appear surprisingly convincing. Rest assured, we prioritize clear communication and will always contact you through secure channels for any important information.
Here’s how we keep your information safe:
If you ever receive a text claiming to be from us and requesting personal details, know it’s a scam. Do not respond or click on any links.
For any questions or concerns, call us at (716) 691-9187. We’re here to help you navigate your finances with confidence. Together, let’s build a secure financial future for you and your loved ones.
Kindness, honesty, and gratitude – these are some of the values that parents teach their children from a very early age. But what about being financially responsible? Teaching your little ones about the value of money, and saving it, is so valuable, and it sets them up for success later in life.
That’s where Sweet Home Federal Credit Union’s Mini Savers program comes in. It’s a fantastic way to get your child(ren) started on their savings journey.
What is the Mini Savers Program?
The Mini Savers program is a special savings account designed specifically for children in elementary school within the Sweet Home Central School District that helps teach the importance of saving, while making it fun! Enrolling your child in the Mini Savers program can yield some great benefits:
How can I get started?
The Mini Savers Program is offered at all of the elementary schools in the Sweet Home Central School District. To take part, parents must first complete a credit union membership application for the student (including a copy of the adult’s driver’s license) and make an initial deposit of at least $5. Participating students will receive a money pouch. Then, they’ll be able to make deposits to their accounts right at school!
Have questions? Contact us or call the credit union at 691-9187 today!
Dreaming of exploring the open water or the great outdoors? Sweet Home Federal Credit Union can help turn your dream into reality with our competitive RV and boat loan options.
Here’s why financing your recreational adventure through SHFCU will get your engines revving:
Hit the open road or cruise into unforgettable memories with financing tailored to your adventure. Click here to see our rates, or contact us to learn more, and apply for your RV or boat loan!
