Bellco Credit Union’s Post

With so many financial challenges these days, it can be hard to know where to start. But we have a few tips that could help you get on track—and stay there. First, if you're struggling with debt or other money problems, take advantage of the free financial counseling services at The Journey Forward! TJF helps individuals and families gain the financial literacy skills needed to get out of debt, save money, and purchase a home. We offer one-on-one and pre-purchase counseling for homebuying and foreclosure prevention - at no cost! If you're looking for ways to save money, get one-on-one financial counseling here http://ow.ly/tLwG50NIHHB #financialfreedom #moneymindset #nonprofit

Looking to take control of your finances and build a better future for yourself? Look no further than The Journey Forward! Our knowledgeable financial counselors offer one-on-one financial counseling to help you budget better, buy a home, and get out of debt. We'll help you avoid common pitfalls and set goals for financial freedom. Whether you're a first-time homebuyer or facing foreclosure, we're here to help. Join us on the journey forward to a brighter financial future! #nonprofit #moneymindset #financialcounseling

To start a #debtmanagement plan, you need to work with a nonprofit credit counseling agency. Learn more here. #money

To start a #debtmanagement plan, you need to work with a nonprofit credit counseling agency. Learn more here. #money

Is your small business or nonprofit struggling to secure necessary funding? The New York Forward Loan Fund 2 offers working capital loans to eligible organizations like yours. Discover more about eligibility requirements, interest rates, and the pre-application process at NYLoanFund.com. Don't let financial barriers hold you back - take advantage of this opportunity today! #NYForwardLoanFund #SmallBusinessLoans #NonprofitFunding

Yesterday, we reviewed one of the 5 C’s of credit, “Capacity,” when evaluating your credit. Today, let’s discuss “Capital.” Each day this week, we will review one of the 5 C’s, so be sure to visit us tomorrow or revisit any tips you missed! Capital - How Much Money Do You Have? Some of you are just getting started, so you may have little money saved if you have any!  While the lender may see you as a higher risk than someone who has a big bank account, you can still get financing.  After all, if you had the money sitting around, you may not need a loan, right? When you don’t have a lot of Capital, you can still get financing for the things you need, so don’t be discouraged. After all, it is just one of the 5 Cs! When a lender likes the other 4 C’s, you should be fine! Are these tips helping you? Help us give more people access to financial learning tools, elevate financial literacy, and create programs for children’s financial literacy programs. We are all about providing education to help create financial wellness.  Please visit our website, https://lnkd.in/gzrBv4zC to learn more about us, and we thank you for considering a small donation to keep our mission growing!

"Why are credit unions collecting loan interest and fees if they are not for profit, but for service?" Credit unions, while not-for-profit organizations, still need to collect loan interest and fees in order to cover operating expenses, maintain financial stability, and continue providing their members with valuable services and products. By charging interest and fees, credit unions are able to generate revenue that can be reinvested back into the credit union to benefit members and improve overall financial health. #creditunions #financialservices #nonprofitorganization

Deciding where to keep your nonprofit’s various cash reserves is a major part of cash management. Where you store your funds determines important factors like your interest rates, FDIC insurance coverage, and fund liquidity (how quickly you can access and withdraw your funds). Traditional bank accounts are often not the best financial option for nonprofits. This is because they typically offer low rates and liquidity as well as strict limits on the amount of funds the FDIC will cover in a single account. Instead, our nonprofit financial experts recommend storing your reserve funds in: ➡️ Sweep accounts ➡️ CDs for nonprofits ➡️ Treasury bills Read more in our blog: https://lnkd.in/ebfkaBjs

"Why are credit unions collecting loan interest and fees if they are not for profit, but for service?" Credit unions, while not-for-profit organizations, still need to collect loan interest and fees in order to cover operating expenses, maintain financial stability, and continue providing their members with valuable services and products. By charging interest and fees, credit unions are able to generate revenue that can be reinvested back into the credit union to benefit members and improve overall financial health. #creditunions #financialservices #nonprofitorganization

10 Tax Benefits Every Small Business Owner Should Grab: Deduction for start-up costs Vehicle and transportation expenses Health care tax credits Retirement plan contributions Interest on business loans Rental of business property Charitable donations deductions Business insurance premiums Energy-efficient equipment credits Depreciation on assets Running a business? Let these deductions boost your profits!