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Sun Sentinel’s Top Workplaces

Sun Sentinel’s Top Workplaces

We are proud to have been ranked number 6 for Sun Sentinel’s Top Workplaces in the Mid-sized Employer group category. We want to extend a huge thank you to all of our wonderful staff who make Power Financial Credit Union such a great place to work. Take a look at some of the pictures from the awards ceremony!      ...
A Credit Card is a Credit Card, Right?

A Credit Card is a Credit Card, Right?

  According to a historical, self-evident truth, all men are created equal. The same cannot be said of credit cards. Since the first Diners Club Card hit the scene in 1950, credit cards have exploded into a trillion dollar industry with countless options for consumers. With more and more companies offering online and mobile payment options, the demand for credit cards is likely to continue its upward trend. As demand increases, so does competition. And with increased competition comes more specialization. These days, a quick Google search makes it seem like there are as many different credit card options as customers using them—which brings us back to the point of this article: not all credit cards are the same. Take your time. Don’t skip the fine print. Before rushing out and applying for as many credit cards as possible, it’s important to remember that most applications include an authorization for the card issuer to make a credit inquiry to determine your creditworthiness. Too many queries in a short period can cause damage to your credit rating, so it’s worth researching your options before applying. It’s much better to apply confidently for one card that will meet your needs instead of filling out multiple applications to increase your odds of approval. Focus on quality, not quantity. As you conduct your search, remember that the fine print matters. Credit card marketing campaigns feature tempting claims of low interest rates and fantastic rewards because they’re effective in generating impulsive action. While the offers may technically be true, you may not always qualify for the advertised rates. And if you do qualify, simple...
Are You Smart Enough to Spot a Scam?

Are You Smart Enough to Spot a Scam?

There’s an old quote that states, “The price of freedom is eternal vigilance.” If we were going to paraphrase this idea for the modern-day marketplace, we could say something like, “The price of digital convenience is consistent carefulness.” The benefits of high-speed Internet, online banking, and 24/7 connectivity are undeniable, but if we’re not careful, the easy access can lull us to sleep when it comes to protecting our most sensitive information. While some attempts to get your money can be laughable (you didn’t realize you were the last living relative of a Wakandan prince, did you?), others can be much harder to detect. From clever phishing emails that ask you to confirm your banking information to “miraculous” credit repair advertisements that come in the mail, it seems like scams are everywhere. In fact, the problem is so widespread that the US government maintains a webpage dedicated to the most common scams and frauds. How to spot a fraud Since we started with an old quote, let’s look at another one: “If it’s too good to be true, it probably is.” This means any correspondence that begins with “You’re already a winner!” probably belongs in your trash can or your spam folder. But once you get past easy-to-spot warning signs like this, a recent U.S. News and World Report article suggests you steer clear of the following as well: Requests for payment before providing actual information Promises of easy money or ridiculously high income High-pressure pitches or limited-time offers Pop-up ads that require a download Overly complex explanations when simple terms are enough Some scams are harder to recognize...