Winner’s Corner
- Michael Solzbach from VA won $100 in our quarterly new member drawing.
- Jacob Williamson from VA won the auto loan drawing for the first payment on us, up to $500.
- Curtis Weathers from VA won $300 in our fall credit card promotion.
- Susan Cousins from VA won $100 in our football savings campaign.
Stay Safe While Sending Money
Sending money through platforms like Zelle, Venmo, or Cashapp has become very popular because of how easy it is, but that also means that it’s an easy way for scammers to steal your money. Protect yourself by watching out for these common scams:
- Money request – Scammers create a fake profile of someone who you have sent/received money from in the past, pretending to be them. They will usually add a message saying they forgot their wallet and need money to complete a transaction.
- Payment mistake – A victim will get a request saying they accidentally paid the wrong person and want you to send the money back. The money will usually be paid with a stolen credit card. When the victim pays them back, the money sent will no longer be there and they will be scammed out of the amount requested.
- Check scams – This usually occurs on online marketplaces when a victim is selling an item. The scammer will send the check for more money than what was decided on. They will then request the difference. Later, the check will bounce resulting in the victim losing the money. (and item they sold)
Is a Home Equity Loan a Good Way to Consolidate Debt? Because home equity loans have relatively lower interest rates, they can be a good option for homeowners looking to save by refinancing high-interest debts. However, they aren’t right for everyone. Before you apply, consider these pros and cons: Pros: Lower interest rate – Your home serves as collateral for the loan, so generally your interest will be lower than other types of loans. One streamlined payment – Having only one payment for your consolidated debt can simplify your life. Lower monthly payment – Since it is more likely you will have a lower interest rate and a longer loan term, your monthly payment will most likely be lower. Cons: Secured by the home – If you default on your home equity loan, your lender could foreclose on your home. Increased debt load – If you’re using the home equity for home improvements in addition to consolidating debt, you will be increasing the total amount owed. Possible fees – You may have to pay for an appraisal and closing costs. Compare fees before making a decision.
Staying on Top of your Credit has Never Been Easier
You can now access your credit score, credit report, credit monitoring, education, and more at any time.
Simply log into Digital Banking and click “Credit Score” on the menu to get started. This free service is a “soft inquiry” and does not affect your score.
2023 Annual Meeting
Join us for fun, food, and prizes.
Time: 11am - 1pm
When: June 13
Where: Dominion Energy – Surry Power Station