Choose A Path
Save and Plan for the Future
Manage my Debt and Finances
Prepare for a Major Life Event
Make a Major Life Purchase
Remodel my home
Before you dive into a home remodel or renovation project, it’s smart to plan your budget and financing, and to understand which projects will increase your home’s value the most.
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To increase your quality of life and get the best bang for your buck, do your research to find out how different remodel projects will increase your home’s value.
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It’s easy to dream about your next home improvement project, but how much can you afford?
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Unitus offers three options for financing a home remodel. You can either use some of the equity in your home using our Equity Line Plus or a cash-out mortgage refinance, or you can take out a personal loan or line of credit.
Buy a home
Getting ready to purchase a home? Here are the three most important first steps to becoming a homeowner.
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Before you dive into house hunting, review the steps involved in buying a house and use our calculators to map out your budget. Attend our free home buying seminar for a complete introduction and helpful tips.
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It’s important to work with a Home Loan Expert who puts your best interests first. Unitus Mortgage offers lower total costs than many other mortgage providers, and we can walk you through your options and help to make the entire home buying process as smooth as possible.
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Getting pre-approved for a loan shows sellers you’re a serious and credible buyer, and it documents the home loan amount Unitus will lend you. This puts you in a great position to search for homes and put in an offer when the right home becomes available.
Start a business
More than half of Americans either own or work for a small business. If you’re thinking about taking on the exciting challenge of starting your own, use these resources to learn more about what it takes to establish a new business.
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Have a great idea for your business? The first step towards turning your business into a reality is creating a well-thought-out business plan.
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There are several ways to structure your business, and choosing one is a critical decision. Do your research and seek out professional assistance to choose the right foundation for your business.
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From startup costs and funding for your business through budgeting and preparing financial statements, there is a lot to know about business finance. Help your business succeed by understanding your needs and your available funding options.
Go to college
Whether you’re planning ahead for your child’s college education, getting ready to attend college soon, or are thinking of going back to college after being in the workforce, there are important steps you can take to make sure you’re prepared.
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It’s never too early to start saving for your child’s college education. Tuition costs are rising, and few people can afford to pay for college expenses out-of-pocket. A smart savings plan—for you or your child’s future higher education costs—can help to make college a reality.
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This is an exciting time! There is a lot to look forward to, but it’s also important to pay attention to the key deadlines and requirements that will ensure you’re well positioned to start and fund your college experience.
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Going back to school can be a daunting idea, but you are not alone. Every year, thousands of degrees are earned by adults who have returned to college. There are many flexible and affordable options for returning students, and with smart planning and preparation you can successfully return to college.
Start a family
Starting a family is an exciting and life-changing decision for any couple. When you are ready to start a family, Unitus is here to help you navigate the financial considerations that will impact you and your growing family.
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Take time with your partner to review your health coverage, availability for parental leave, and budget for child care.
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As you grow your family, your need for space and stability also grows. Provide for these needs with smart and affordable funding options.
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Planning for your child’s education, saving for retirement, and preparing for the unexpected are some of the many ways to lay the groundwork for your family’s future.
Get married
Getting married is a life-changing event. From planning the wedding to making big decisions together about finances, children and home buying, it’s important to communicate and be on the same page with your partner.
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A wedding lasts for one day, but your marriage lasts for a lifetime. Choose a realistic budget for your special day that paves the way for your future together.
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One of the most practical decisions a newly married couple will make is whether to combine or keep your finances separate. Discuss your needs to decide whether joint or separate accounts, or a combination, will work best for you.
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There are a few questions that will have an immense influence on your financial planning for a very long time. The sooner you can agree on how you feel about these life choices, the sooner you can plan for them.
Get out of debt
Getting out of debt isn’t easy, but it’s well worth the effort. Being debt-free lifts a weight off your shoulders and lets you pursue dreams like buying a house, sending your children to college, and saving for retirement.
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Accountability and discipline are key to tackling debt. Personal financial responsibility is 20% knowledge and 80% behavior.
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By creating a budget and getting a clear picture of your existing debts, you’ll be in good shape to formulate a realistic plan for tackling your debt.
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Based on your specific situation, we will work with you to create a debt pay-off plan that fits your needs.
Simplify my finances
The world of personal finance can be overwhelming, but with a few easy steps you can simplify your finances and take control.
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By creating a budget and tracking your expenses, you can see the big picture and make smart financial decisions.
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Compare your existing auto loan rates, mortgage rates, insurance premiums, and cable and cell phone plans to make sure you’re getting the best deals in the industry.
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Banking and borrowing from multiple institutions makes your personal financial picture unnecessarily complicated. You can simplify your finances by consolidating your debt and investments and working with a single financial institution.
Improve my credit
Some keys to building your credit: pay your bills on time, manage and pay down your debt, and use credit judiciously.
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The first step is to access your credit report and see what your credit score is right now.
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Pay down and organize your debts, and keep your card balances at least 60% below their credit limits.
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Offered monthly, this seminar will teach you how to improve your credit score and build your credit wisely.
Save on insurance
Experience insurance the credit union way—dependable, affordable coverage that ensures financial relief when you need it most. TruStage™ insurance products are only available to credit union members like you.
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Your home is the largest asset you might ever own, requiring ample coverage against loss. We’re proud to offer affordable, top-quality protection for your home, with discounted rates for Unitus members.
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Car insurance should be convenient, affordable, and there for you when you need it. Our TruStage™ program provides online services and discounted rates for Unitus members.
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Life insurance is a good foundation for any financial plan. It’s helpful for protecting young families and provides the comfort of knowing you can leave a legacy for your beneficiaries.
Get more out of my money
Get more out of your money by saving smartly for the short- and long-term, and taking a closer look at your mortgage terms and tax benefits.
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You might already be saving, but are you saving enough? We recommend saving at least 25% of your income.
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Make the most of what you save by following an investment plan that matches your time horizon and risk tolerance. We can help clarify your options and find the best path for you.
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Consult with tax and mortgage experts to shed light on opportunities to make your tax returns, home loans, and other long-term loans more favorable.
Transition into retirement
Planning to retire within the next 5-10 years? After years of saving and planning, let Unitus help you prepare to reap the rewards of your life’s journey.
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Work with an advisor to regularly check your investments and find the right mix of stocks and bonds that aligns with your retirement financial plan.
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In the home stretch, save as much as possible. Consider your options to smartly pay off your debt.
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Get insured so you are prepared to protect your assets and income should you need long-term care.
Unitus can help you realize the rewards of your life's journey.
Planning for retirement? Here are your top three priorities
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The earlier you start saving, the more time your money has to grow. Learn more about your investment options.
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Retirement is expensive. Speak to an advisor to make a solid plan for your future.
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Signing up for life insurance and loan protection can help you and your family stay prepared for the unexpected.
Car/Truck/SUV
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One of the first steps towards buying a car is figuring out what you can reasonably afford, and what your monthly payment will be.
Once you know what your budget is, ease your mind before you go car shopping by getting pre-approved for a Unitus auto loan. We offer competitive rates and flexible terms, and our full service loan process takes the stress out of buying a car.
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I’m planning to purchase a new or used car from a dealership
If you buy from a participating dealership you can take advantage of Credit Union Direct Lending (CUDL). That means you get on-the-spot financing for the car you’ve selected. You simply tell them you’re a member of Unitus and they’ll do the rest.
Compare the features of various makes and models and search a local dealer inventory of new and used vehicles on AutoSMART.
Visit AutoSMART to browse cars and find a participating dealership near you
I’m planning to buy a car from a private party
We can help to make buying from a private party a simple process:
- Get pre-approved for a Unitus auto loan
- You can find your Kelley Blue Book or we can provide it for you.
- Once you’ve found the car that fits you, we’ll do the legwork. You just have to sign the paperwork, and we save you a trip to the DMV by applying for your license plates and registration.
Questions? Contact our Member Loan Center at 503-423-8770
I’d like to buy from a dealer, but really don’t like working with car dealerships
Then Auto Mentors just might be the answer you’re looking for. Auto Mentors is our locally-owned auto locator service partner. Just tell them what type of vehicle you’re looking for and your price range, and they’ll take care of the rest. They’ll find a car for you and negotiate the deal.
Visit Auto Mentors online or get in touch with Dale today:
Dale Gordon, Personal Auto Mentor
503-380-8282
Email Dale Gordon
Our Large and Small RV Loans cover the entire range of recreational vehicles, from motorhomes to boats to motorcycles.
Large RV Loans: Boats, Motorhomes and more
Our Large RV Loans cover motorhomes, fifth wheels, boats, campers and large travel trailers. View our competitive rates.
Small RV Loans: ATVs, Jet skis, Snowmobiles and more
If you’re looking for a motorcycle, scooter, ATV, jet ski, wave runner or another small recreational vehicle, then our Small RV Loan may be right for you. View our competitive rates.
Questions About Our RV Loans?
Contact our Member Loan Center at 503-423-8770.
Resources:
Autosmart
- Locate participating Credit Union Direct Lending (CUDL) dealers
- Search new and used vehicles
- Research trade-in values
- View member discounts
- Get a vehicle history check and much more!
Auto Mentors
Dale Gordon, Personal Auto Mentor
503-380-8282
Email Dale Gordon
When considering a home remodel or improvement project, consider how it will increase the value of your home so you can potentially recoup the costs of the project. A homeowner’s first priority should be to ensure the existing structure—foundation, roof, weatherproofing, etc.—is sound. If the basic must-haves of your house are in good shape, then here are four other improvement projects that tend to offer a good return on investment:
- Kitchen
- Bathroom
- Heating & Cooling Upgrade
- Curb Appeal
Kitchen
They say the kitchen is the heart of the home, and if you enjoy cooking, a kitchen remodel might be a worthy investment for you. An updated kitchen—incorporating coveted features like wood cabinets, modern appliances, natural wood or stone floors, and stone countertops—improves resale value and provides you with the potential to recoup your costs. Consider how to keep costs down by working with what you have and exploring less costly alternatives, for example:
- As an alternative to slab granite countertops, consider granite tile. It’s much less expensive per square foot, and you can even install it yourself.
- Before buying new cabinets from a big box store, consider resurfacing and painting your existing wood cabinets. A new coat of paint and updated fixtures will provide a totally updated look while saving you a lot of money.
Bathroom
A clean and beautiful bathroom can add value to your home, and new lights and fixtures can make a bathroom look completely different. Rather than replacing an old bathtub you can have it professionally resurfaced. Old linoleum can be replaced with inexpensive tile.
Some older homes have a lot of charm but are short on bathrooms. If your house only has one bathroom, consider using your remodel money to add a second one.
Heating & Cooling System
While you don’t think of it very often, upgrading your HVAC system not only pays off with comfort, but will lower your heating and cooling bills in the long run. Consider installing a system that is 96%+ efficient. While this will be a slightly higher investment, your energy costs should go down significantly over time. Pair your new system with a smart thermostat and watch your heating and cooling bills drop. Heating and cooling system upgrades are great for resale too—it gives a potential homeowner peace of mind knowing they have a newer system in place.
Curb Appeal
First impressions are everything if you’re looking to sell your house. Wisdom in the real estate market says if people drive by your home and aren’t impressed, they’re not going to walk inside.
- Put a fresh coat of paint on your home. Consider giving your front door a blast of color, like red, green or blue, that compliments your house and trim colors.
- New siding ranks high for recouping your costs, and because it’s low maintenance, adds value for cost-conscious buyers.
- Add some color to your yard by updating the landscaping. Plant new flowers, herbs, and bushes.
- Power wash your driveway and front walkway to brighten up the front of your house.
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Estimate some ballpark costs for your project.
It’s helpful to get a high-level estimate of what your project may cost. Major renovations, such as a bathroom remodel, can cost from $100-200 per square foot.
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Figure out how much you have to spend.
If you’ll need to borrow money for your project, use our Budget worksheet (PDF) to help plan for what monthly payments you can afford to finance the project.
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Get quotes from contractors.
Gather specific details about your project, and get itemized bids from at least three recommended contractors.
- Set your priorities for the project. Align your big ideas and your budget by prioritizing what’s most important and then trimming what’s less important.
Equity Line Plus
This loan, secured by your home equity, is a great option for members who:
- Have a solid first mortgage in place
- Need to borrow more than 80% of the value of their home
Cash-out Refinance
If you have a first mortgage that might benefit from a refinance, then a cash-out refinance might be a good option for you. Contact one of our Home Loan Experts to discuss your options and help you find the right path for your project or use our Home Refinance calculator below to compare a new loan versus your current loan.
Personal Loan or Line of Credit
Unitus Personal Loans offer low interest and fixed rates, with terms up to 60 months.
Resources
March Madness—Is it Time to Put Your Home on the Market?
Huffington Post: Adding Value at What Cost
HGTV: Top Home Updates
BankRate: Best Home fixes
First Steps: Get Pre-approved
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This is the first step in the mortgage loan process. The application is where you will disclose your income, assets and debts. You may complete the application online, at any Unitus branch, make an appointment by calling us at 503-423-8713, or 1-800-452-0900, ext. 8713 or contact us.
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This is a written estimate of closing costs provided by Unitus Mortgage within three (3) days after you apply for a loan.
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Your Loan officer will collect any items needed to complete what is called a “Credit Approval”. Here are some examples of what we may ask you to supply. Remember, every applicant is unique and the requested items may vary.
- Income verification – (i.e. work paystub, W-2, most recent tax return)
- Asset verification – (i.e. bank/credit union account statement, retirement statement(s), etc.)
- Contact information of your insurance agent (i.e. name, company, telephone number)
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Once all the required documentation has been submitted, our experienced underwriters will begin evaluating your application and determine if the loan request is acceptable under Unitus Mortgage’s guidelines.
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Once your credit application is approved, you’ll be given a more accurate idea of exactly how much you can borrow. Most home sellers and their agents require a pre-approval from your lender—this usually comes in the form of a pre-approval letter. For buyers, this shows the seller that you have financing in place and are a serious buyer.
Next Steps: Find and Purchase a Home
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This is the fun part. Make contact with a well qualified realtor and start hitting the neighborhoods. Once you find the right home, you may make an offer to purchase. Be sure to review all the disclosures and paperwork closely with your realtor; then submit them to the seller and their agent.
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It is highly recommended that you hire an experienced and certified home inspector to take a close look at the home you intend to purchase. These professionals are trained to identify potential problems that could turn into costly repairs for you down the road. Your realtor should be willing to recommend several well-qualified home inspectors. You can expect to pay from $250 to $500 for a typical home inspection.
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With your permission, Unitus will request the appraisal of the property. An appraiser gives an expert opinion of value on behalf of Unitus Mortgage. An appraiser is a certified, state-licensed professional who determines the value of the home. The appraiser will make an appointment to visit the home, measure its size (square footage), and note the location among other factors. They will then compare your home to other similar residences (comparable sales) that were recently sold in the surrounding area. The ideal appraisal is a balance of comparable sales that are similar, inferior and superior to your home.
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Once the completed appraisal report has been received from the appraiser, Unitus Mortgage will analyze the information compiled and determine if it meets the underwriting qualifications. Once the report is approved, you’ll then have the opportunity to ‘Lock-In’ your interest rate. You will be provided with a “Lock In Agreement” which outlines the terms of your rate lock. This ensures that you get the current rate available even if rates increase within that period.
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Now that the credit and property have been underwritten, Unitus Mortgage will prepare and send all the required closing documents to the title company. The function of a title company is to perform a title search on the property to ensure that it is free from any liens or claims that could have an adverse effect on the closing process. The title company is also the party responsible for gathering and disclosing all the “closing costs” on the settlement statement. Once the title is deemed free from encumbrances, the title company facilitates the transfer of deed from the seller to the buyer.
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The end of the mortgage purchase process is now in sight. You’ll be asked to meet with an Escrow Officer at the title company to look over and sign the required documents and final disclosures. On many occasions, your realtor may accompany you. At this time, it’s very important that you take the time you need to examine all the paperwork. After all, this is a very important moment in your life. You’re about to become a homeowner. If you have any questions, be sure to ask the escrow officer or Unitus Mortgage. If you don’t understand what you’re signing, ask for it to be explained to you. The last thing you want is to sign a binding legal document that you don’t understand.
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Please contact Unitus Mortgage at this time to obtain your estimated funding date. Once funding is complete, your realtor will hand over the keys to your new home. Take a deep breath and exhale. Congratulations! You’re now a homeowner!
Home Buying Calculators
Do you have a specific price range in mind already? Do you have money set aside for a down payment and closing costs? Knowing what monthly payment you can afford and whether a larger or small down payment will fit your needs will help you target a realistic price range. Use our selection of calculators to run some initial numbers and get a feel for your budget.
Unitus Home Buying Seminar
A new home will likely be the largest purchase you make in your lifetime. We want you to feel prepared to step through the process without stress and anxiety. Our free seminar helps guide you through the process, discussing topics like the key steps to take when buying a home, industry trends affecting the market, and techniques to use to get your offer accepted.
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Take a look at today’s home loans rates
In addition to competitive home loan rates, our overall costs are often lower than other mortgage providers. See the Unitus difference.
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Get custom rates and pricing with our online Loan Consultant
Not sure which loan is right for you? Our Loan Consultant walks you through the important steps to determine which mortgage will best fit your needs, and provides you with a customized quote.
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Contact one of our Home Loan Experts to discuss your options
Unitus is dedicated to providing open lines of communication and helpful guidance, the keys to a seamless home buying experience. Let’s start a conversation about your needs—we are ready to talk about the best options for you and give you our expert advice.
Gather your documentation and personal information. View our checklist of the documentation and information you’ll need when completing the Unitus mortgage application.
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Complete our online mortgage application
Fill out our online application to get pre-approved. We’ll review it and be in touch with you regarding your pre-approval.
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Contact one of our Home Loan Experts
We’re here to work with you every step of the way, from advice on home loan options through signing closing documents. Get in touch with us to start a conversation.
Resources
Home Buying Guide (PDF) Unitus Mortgage Center
Steps for Purchasing a Home
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First Steps
- Complete Online Application
- Loan Estimate (LE)
- Provide Documentation
- Local Review
- Pre-Approval
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25%
Member: Find Home / Make an Offer -
50%
Member: Home InspectionUnitus: Appraisal -
75%
Unitus: Review AppraisalMember: Lock Interest RateUnitus: Send Closing Documents to Title Company -
95%
Member: Sign Documents -
100%
Unitus: FundingMember: Receive Keys!
Steps for Refinancing a Home
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First Steps
- Complete Online Application
- Loan Estimate (LE)
- Provide Documentation
- Local Review
- Credit Approval
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50%
Unitus: Appraisal -
75%
Unitus: Review AppraisalMember: Lock Interest RateUnitus: Send Closing Documents to Title Company -
95%
Member: Sign DocumentsMember: 3-Day Right of Rescission -
100%
Unitus: Funding
Every business needs a plan, and especially if you hope to secure funding, a formal business plan is a must. An effective business plan translates your ideas into a roadmap for your business: your goals, why your goals are attainable, and how you’ll reach them. It’s a living document, and the process of creating one helps you clarify and visualize the details of your business, identify potential problems, and learn more about your financial projections and your business industry.
Here are some excellent resources to help you get started on your business plan:
SBA.gov—How to Start a Business
Portland SCORE—A nonprofit offering workshops and templates
Choose your business structure:
When you’re considering what kind of business structure is right for you, weigh the pros and cons of each type. You can operate your business by yourself as a sole proprietorship, as a general partnership with another person, or you can operate your business as a separate legal entity as a corporation, limited liability company (LLC), limited liability partnership or limited partnership.
We suggest you work with a qualified legal or tax consultant to choose the right business structure for you. Consult the following resources to learn about and compare the different business types:
SBA.gov—Choosing a Business Structure
Register and license your business:
Once you’ve selected a business structure, you’ll need to register your business name and obtain the necessary federal and state permits in order to operate legally. Here are some helpful links to help you get registered and licensed:
SBA.gov—Register Your Business Name
SBA.gov—Business Licenses and Permits
Oregon:
Oregon Secretary of State—Register a Business
State of Oregon Licensing Directory
Washington:
Create a financial plan and obtain the necessary funding
A set of well-researched estimates and projections will help you prepare financially for starting your business, whether you are planning to self-finance or seek funding from loans or investors. If you do need to seek external funding, research the various options for small business loans offered by federal, state and local governments and agencies. Obtaining start-up financing for a new business can prove challenging, as many lenders, including Unitus, do not currently offer ‘start-up’ loans.
In addition to the many helpful books and guides available at your local library or bookstore, here are some online resources to help you get familiar with financial best practices and funding options:
Business USA.gov—Business Tools and Resources
Oregon Secretary of State—Financial Resources
Oregon Business Xpress—Financing
Oregon Small Business Development Center
Once your business is established, explore Unitus Business Loans
For businesses that have been in operation for at least two years, Unitus is proud to offer a range of business loans:
- Vehicle Loans
- Equipment & Machinery Loans
- Business Line of Credit
- Commercial Real Estate loans
In addition to requiring that your business be established for two years in order to qualify, we also ask that you be creditworthy, with a track record of profitability and good cash flow. The business owners must have good personal credit history, and we also look for liquidity of either the business or its owner(s).
There are many good options for college savings, and our member advocates would be happy to walk you through your options and help you get the right education savings plan set up for your family. It doesn’t take a lot—even saving $20 a month is a great start. Some of the options to consider are:
Unitus savings accounts:
We offer a range of savings accounts, from special savings to CDs and Money Market accounts.
Coverdell Educational Saving Account:
An Educational IRA is an ideal way to begin savings to help a child, grandchild, or any young person pay for educational expenses—such as tuition, fees, books, supplies and equipment.
Get in touch with one of our Unitus Financial Advisors to discuss your options and start a personalized education savings plan.
- Meet with your academic counselor to get the guidance you need to successfully navigate all of the college preparation steps such as:
- Select and apply to schools
- Order necessary transcripts
- Meet all high school graduation requirements.
- Know the important deadlines
- Application deadlines: Check the college websites and work with your academic counselor to be aware of all important school application deadlines.
- College testing deadlines: Know the deadlines and register for the PSAT, SAT, or the ACT Test. FAFSA deadline: Complete and submit the Free Application for Federal Student Aid (FAFSA)
- Make sure your college funding is in order.
- Apply for scholarships: Use an online database such as Fastweb to find and apply for scholarships. And don’t forget about Unitus’ scholarships.
- Apply for student loans: Visit our Student Loan Center to learn about more funding options, such as our Private Education Line of Credit.
Health Insurance
- What is covered and what will your out-of-pocket costs be? Do you have enough in your savings account to cover these? Learn more about Unitus savings accounts.
- Do you have a particular doctor in mind for your OB/GYN? For your pediatrician? Make sure these doctors are in your network—this will keep your out-of-pocket costs down.
Paid Time Off
- What is your employer’s parental leave policy? Will you need to use PTO? Plan carefully to account for lost income while you and/or your spouse are taking time off after the baby is born. Set up automatic monthly transfers to a savings account to help build your nest egg. Learn more about Unitus savings accounts.
Childcare
- Will one of you stay home to care for your child? Will you be seeking full- or part-time child care? Finding the best caregiver for your children is important. Make sure you understand the costs so that you can budget this expense accordingly when you return to work.
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Purchase a home:
Looking to buy a home for your growing family? Get personalized assistance from one of our Home Loan Experts. Find out more about how to buy a first home or how to sell and upgrade to a larger house at one of our free Financial Seminars.
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Improve or expand your current home:
A Unitus home equity loan is an extremely helpful and flexible tool for financing any necessary home improvement or expansion projects.
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Purchase a new car:
Unitus offers affordable auto loans to help you buy a new car that accommodates your family’s size and safety needs.
- Save for the future or an emergency with one of our many savings options to build up your emergency fund.
- Start putting money aside to pay for your children’s education with an Education IRA.
- Get in touch with one of our Unitus Financial Advisors to make a plan to start building your wealth with personalized investing and financial planning.
- Review your insurance coverage (auto, home, etc.) to make sure your coverage is sufficient and you’re getting the best value. Unitus offers comprehensive and affordable insurance, with a members-only discount.
- Consider life Insurance to protect your family from financial hardship. We offer a range of plans for any lifestyle.
- Make sure your loan payments are covered in case of involuntary unemployment, disability or death with our Loan Protection options.
The price of a wedding can range from economical to astronomical, and you and your partner have complete freedom to decide what you want to invest in your wedding. As you embark on planning your special day, look at your financial picture and your goals for your future together, and decide how much you can afford to invest.
Many Americans get married in their 20s or early 30s when they also have student loans to pay off, which means their net worth may be low or in the negative. Paying tens of thousands of dollars for a single celebration could have financial ramifications that will ripple far into your future together.
You can temper the cost of your wedding and still create a special unique day that focuses on the love and commitment between you and your partner. A huge venue and an elaborate catered meal isn’t required for an amazingly memorable day. For example:
- A simple ceremony at the courthouse with their best friends as witnesses, then celebrated with close friends and family at a favorite park with a beautiful picnic.
- A backyard ceremony and reception, with a simple catered meal. It is an intimate, fulfilling evening with close friends and family.
If a large or elaborate wedding is important to you, it is common for the parents of the bride and the groom to help with funding. You can create an agreement with them to pay them back over time if that works best for your families.
Whatever the scale and style you and your partner agree on, create a budget together and prioritize what is most important to you both.
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Communicate openly about finances.
Before opening a joint account, make sure you and your partner are on the same page financially. You’ll share both the benefits and liabilities, and if one of you has poor spending habits, the other will share in the responsibility for resolving debt and solving issues that come up. Decide if one of you will be managing the money more actively, so that it’s clear who’s taking responsibility for making payments, monitoring accounts for fraud, and managing the finances. Open communication is vital to sharing a joint account.
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Consider the pros of sharing an account.
Opening a joint account with your partner allows you both to login to your account, have a clear view of your shared finances at any given moment, and be more strategic with your decisions.
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A hybrid option.
Recently, many couples opt for a hybrid option that includes a joint checking account alongside separate personal accounts for both parties. For many, this reflects a shared commitment while also recognizing that each person is an individual with their own wants and needs. After the couple’s shared goals are accounted for, such as mortgage and utility payments, retirement savings, a travel budget, etc., each person has money to spend on personal hobbies, projects, and purchases.
Ready to open a joint account? Open a Unitus Checking account online today.
To buy or rent? House, apartment, condo?
Sharing housing with your life partner inevitably leads to the big question, should we rent or buy? The answer depends on your goals as a couple.
Buying a house is a large investment, and if you decide to embark on home ownership it’s important to make sure you are getting the best interest rate and a manageable monthly payment, and finding the right house for your long-term budget.
Contact one of our Home Loan Experts to start a conversation about your future home ownership.
Do you want to have children?
Whether you and your partner would like to have children is another big question you’ll need to answer together. Raising a child to adulthood costs thousands of dollars, which is a large investment that will shape your finances for decades. If you and your partner would like to have children, we suggest you meet with a Member Advocate to plan your finances so you can support them comfortably. When you’re ready to start a family, check out the Start a Family section of our product finder.
Get in touch with one of our Member Advocates to discuss your options and start a savings plan for your future. Call us at 503-227-5571 or 1-800-452-0900, or email us.
In order to get out of debt you’ll need to change your behavior and your relationship with credit cards. If you’re in debt, stop adding to it. Then keep yourself accountable and stay committed to your plan to pay down your existing debt.
Some people find it helpful to identify the “why”—why do you want to change your behavior and get out of debt? Knowing why can help you stay focused and motivated. Whether your goal is to stop living paycheck to paycheck, to start building a more solid financial future for your family, or to model better financial habits for your children, knowing the “why” can help you find that inner discipline and tackle your debt once and for all.
Tip: Consider storing your credit cards where you won’t have access to them. You may not need to go this far, but one of our members actually stores his card in a jar of water in his freezer, so he has to take the time to thaw the card out in order to use it. This has helped him avoid impulsive spending and change his habits.
Create a budget
Create a budget to help you see where you currently stand financially. With a realistic budget, you’ll be better able to see what expenses you can cut in order to put money towards paying down your debt.
Organize your debts, balances and rates.
Write down the debt, interest rate, and minimum payment on every card and loan you have. Note which credit cards have the highest interest rates. Unitus offers a great tool to help you pay off and consolidate your high interest credit card debt:
- Equity Line Plus
A home equity line of credit allows you to access cash by tapping into your home’s equity. With competitive interest rates, this is a good debt consolidation option for homeowners.
Debt Consolidation
Contact us and we’ll help you estimate how much you can save by consolidating some of your debts, including your credit card debt, auto loans, and student loans.
Tip: Call each credit card company you have an account with, and request a lower interest rate. If you are a loyal customer or have a good credit score, you may be able to negotiate a better rate.
Tip: Another good option is a balance transfer with a low interest rate. If you’re eligible, and the fees and fine print on the offer look good, then transferring your high interest debt to a low interest card may be a helpful step for you. Unitus occasionally offers a generous balance transfer deal for our Unitus Platinum Rewards Visa, so keep an eye out for our next offer.
Stop by a Unitus branch to speak with a member advocate. We’d love to sit down with you to talk about your situation and discuss your options. For some people, paying off their smallest debts first is the way to go. For others, we recommend paying off their highest debt first. Together we’ll look at the details and form a realistic plan to help you pay down your debt.
Tip: Before you stop by your local branch, gather all of your credit card information and bring it with you for your consultation.
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1. Do you have a budget that you stick to? No
By planning and tracking your budget, you can target unnecessary spending, adapt quickly when things change, and work towards financial goals more quickly. Seeing a realistic breakdown of your expenses can be a real eye-opener. And contrary to popular belief, budgets aren’t stressful—they take the stress out of finances because there aren’t as many surprises. You don’t have to panic or worry if you have the money—you already know.
1. Do you have a budget that you stick to? Yes, but I end up spending too much
If you often end up spending more than you budgeted, here are two ideas to incorporate into your monthly routine:
- Withdraw your spending money at the start of each month. Based on your budget, target how much “fun money” you get each month, then take that out as cash or transfer it into a separate checking account. This way you know what your limits are for entertainment, hobbies and eating out.
- Pay yourself first. As soon as you get paid, put aside a portion of your income to save. The basic idea is to think of your personal savings as the first bill you need to pay every month, in order to help you build wealth over time. Regular steady contributions are a great way to build a nest egg, create an emergency fund, plan for larger purchases, or save for retirement.
1. Do you have a budget that you stick to? Yes, but the unexpected happens and throws off my budget
Create an emergency fund
When life presents you with an emergency, it’s stressful and can threaten your financial well-being. Creating a safety net of three to six months of living expenses will prepare you to handle life’s unexpected events— such as a job loss, unplanned home expenses, or a medical emergency—with confidence.
A Unitus Money Market account is a great place to build your emergency fund. Money market accounts are safe from market turbulence and provide easy access to your money should the need arise.
2. What do you find most challenging when it comes to tracking your money? I’m too overwhelmed and I don’t know where to start
Stick to a routine. When you feel overwhelmed, you’re more likely to procrastinate about important money tasks. If you create a routine time each week to pay your bills, match receipts to cleared transactions, reconcile bank statements and budget monitoring, it will feel more manageable.
2. What do you find most challenging when it comes to tracking your money? My spouse and I share accounts and it’s just too confusing
Talk to your spouse regularly about money. Communication is key, and making time to discuss finances and spending can help to clear up misunderstandings, align goals, and avoid potential issues that may come up.
2. What do you find most challenging when it comes to tracking your money? Sometimes I bounce payments and the overdraft charges are too much
Get overdraft protection. Unitus offers free overdraft protection transfers from your savings and money market accounts. We also offer overdraft transfers from your Unitus Visa and Home Equity Line of Credit accounts, for a small fee.
Ready to compare your options? Find the best deal for your money.
Insurance products
Unitus partners with Liberty Mutual and TruStage to offer discounted auto, home, and life insurance policies to our members. Get a free quote today to compare rates and save.
Home Mortgage
Contact one of our Home Loan Experts to compare interest rates and loan terms and to discuss opportunities for refinancing.
Credit cards
Not all credit cards are the same. Make sure you’re getting the lowest interest rates, the best rewards, paying the lowest fees. The Unitus Platinum Rewards Visa has no annual, over limit or inactive fees, offers a robust rewards program, and offers competitive rates based on your credit score.
Bank charges
Fees are unnecessary expenditures, and you shouldn’t be paying monthly fees on your checking account. Unitus offers free checking accounts, plus access to a nationwide network of free ATMs and shared branches.
3. Do you have money in multiple institutions, such as checking accounts, savings accounts, loans, credit cards, and investments?
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Consolidate your debt. If you have debt, try to have as few accounts as possible. Rather than a high interest debt consolidation loan, consider a low interest credit card to consolidate your debt. Our Equity Line Plus and Personal Loans are other good options for paying off debt.
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Choose one financial institution to work with. This has an incredible impact on simplifying your finances. No more signing into multiple accounts or trying to remember what has been spent or what your balances are. Unitus offers free checking and savings, along with a full suite of financial services. Switch to Unitus today.
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Investments are much easier to monitor when they’re in one place, so we suggest you consolidate them whenever possible. You can transfer money from an old 401k through a tax-free rollover into a new IRA or into the retirement plan at your current job. Get in touch with one of our Unitus Financial Advisors today to discuss your consolidation options.
* Please note: Unitus Community Credit Union does not provide tax advice, and nothing in this section should be construed as tax advice. Before acting on this information, consult your own accountant or tax advisor.
Your credit score matters. Credit scores are used by companies to make decisions such as whether to offer you a mortgage or a credit card. They are also used to determine the interest rate you receive on a loan or credit card, and the credit limit.
Here are three ways to access your credit report and scores:
- www.annualcreditreport.com
Federal law allows you to access your credit report for free every 12 months, and you can request them here. - www.creditkarma.com
Credit Karma provides free access to your credit scores, reports and monitoring.
Visit consumerfinance.gov to learn more about credit reports and scores.
Here are some tips for managing and paying down your debt.
- Focus on paying down all of your revolving accounts such as credit cards and department store cards.
- Maintain at least 60% availability on all of your accounts, because a higher balance will greatly impact your score.
- Organize your debts, balances and rates. Write down the debt, interest rate, and minimum payment on every card and loan you have. Note which credit cards have the highest interest rates. Unitus offers a few great tools to help you pay off and consolidate your high interest credit card debt:
- Equity Line Plus
A home equity line of credit allows you to access cash by tapping into your home’s equity. With competitive interest rates, this is a good debt consolidation option for homeowners.
- Equity Line Plus
Visit the Get out of debt section for more tips about managing and paying down debt.
Understanding Your Credit
We built our free seminar to help our members navigate the complicated world of credit, because increasingly, your credit score determines what credit and loans you can get approved for, your interest rates, and your credit limit. Learning to manage your credit today will pay off for the rest of your life.
A homeowner’s policy helps to cover loss from theft, fire and storm damage. Exclusively for credit union members like you, the TruStage™ Home Insurance Program provides affordable top-quality protection for your home, at discounted rates.
You’ll get quality coverage for your home: liability, personal possessions and additional living expenses. You’ll also get the convenience of online services and 24/7 claims service.
Get your free quote today or call 1-855-483-2149.
TruStage™ Home Insurance program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.
Working with carefully selected auto insurance partners, the TruStage Auto Insurance Program provides online services, 24/7 claims service, and discounted rates for credit union members.
If you haven’t compared auto insurance rates lately, get a quote from TruStage. Your Unitus membership could result in some nice savings.
Get your free quote today or call 1-855-483-2149.
TruStage® Auto Insurance program is offered by TruStage® Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.
We offer TruStage Life Insurance Policies exclusively for credit union members, to help you protect the people who matter most in your life. With many different options in whole and term life policies, TruStage life insurance plans and policies offer affordable rates to fit your budget. They provide excellent coverage, underwritten by CMFG Life Insurance Company.
Learn about this important coverage or call 1-855-612-7909 for more information.
TruStage® Life Insurance is offered by TruStage® Insurance Agency, LLC and issued by CMFG Life Insurance Company. The insurance offered is not a deposit and is not federally insured or guaranteed by your credit union. FR-1655396.1-1216-0119
Accidental Death and Dismemberment Insurance is another way to protect your family from the unexpected.
This program, administered through Affinion Benefits Group, LLC, is a unique benefit of Unitus membership. As a member, you’re eligible to receive a complimentary $3,000 AD&D insurance policy. One free policy is available to each member who is the primary member on an account. Age is not a factor and there are no medical questions to answer, though the benefit reduces by 50% once you reach age 70.
This is not an automatic benefit, and you must enroll to receive this policy.
To learn more about this member benefit contact us at 1-800-452-0900 or 503-227-5571. If you have an existing policy, you may also contact Affinion Benefits Group, LLC directly at 1-877-309-6576. Please have your policy number handy.
This insurance if offered through Minnesota Life Insurance Company. This insurance is not a deposit, not federally insured and not guaranteed by Unitus Community Credit Union.
Accidental Death and Dismemberment Insurance is another way to protect your family from the unexpected.
This program, administered through Affinion Benefits Group, LLC, is a unique benefit of Unitus membership. As a member, you’re eligible to receive a complimentary $3,000 AD&D insurance policy. One free policy is available to each member who is the primary member on an account. Age is not a factor and there are no medical questions to answer, though the benefit reduces by 50% once you reach age 70.
This is not an automatic benefit, and you must enroll to receive this policy.
To learn more about this member benefit contact us at 1-800-452-0900 or 503-227-5571. If you have an existing policy, you may also contact Affinion Benefits Group, LLC directly at 1-877-309-6576. Please have your policy number handy.
This insurance if offered through Minnesota Life Insurance Company. This insurance is not a deposit, not federally insured and not guaranteed by Unitus Community Credit Union.
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Start Your Emergency Fund
When life presents you with an emergency, it’s stressful and poses a threat to your financial well-being. Creating a safety net of three to six months of living expenses will prepare you to handle life’s unexpected events—such as a job loss, unplanned home expenses, or a medical emergency—with confidence.
A Unitus Money Market account is a great place to build your emergency fund. Money market accounts are safe from market turbulence and provide easy access to your money should the need arise.
Ready to open a Money Market account?
Open an account online. Or email us, stop by your local branch, or call us at 503-227-5571.
Start Saving for Retirement
Saving for your retirement just might be the most important thing you do with your money. The earlier you start, the better. If you have an employer-provided 401k, you should consider contributing the maximum you’re able—especially if you can take advantage of employer matching. No 401k? Consider opening an IRA (Individual Retirement Account), which is created specifically for retirement savings.
We offer two types of IRAs. A Roth IRA offers tax-free earnings, meaning the money earned on your IRA can be withdrawn tax-free* but your contributions aren’t tax deductible. Your contributions to a Traditional IRA are tax-deductible and your earnings accumulate tax-deferred, so you pay taxes on the money when you withdraw. Depending on your circumstances, one or the other may be right for you, or you may even need a combination of both types.
Get in touch with one of our Unitus Financial Advisors to discuss your options and start a savings plan for your future.
Ready to open an IRA?
Open an account online. Or email us, stop by your local branch, or call us at 503-227-5571.
Open a Health Savings Account
If you have a High Deductible Health Plan (HDHP), then a Health Savings Account (HSA) is the perfect complement. The money you (and possibly your employer) contribute to your HSA can be used tax-free for qualifying medical expenses not covered by your HDHP, including the deductible. It also helps you save for future medical expenses not covered by Medicaid after you retire.
Ready to open an HSA?
Open an account online. Or email us, stop by your local branch, or call us at 503-227-5571.
Annual Financial Review
We suggest meeting with an advisor to discuss your financial situation at least once a year. We can help you assess your critical expenses, clarify your goals for the near and distant future, and identify risks and opportunities that impact your plans. As your life changes, so do your financial needs.
Get in touch with one of our Unitus Financial Advisors to have a conversation about your plans and goals.
Congratulations! It looks like you’re on the right track towards saving and getting the most out of your money. To ensure that you continue on this path, we encourage you to meet with a Unitus financial advisor at least once a year to assess your situation and make any necessary adjustments to your investment and saving plan.
Get in touch with one of our Unitus Financial Advisors to set up your annual check-up.
Through our partnership with Unitus Financial Advisors, Unitus makes available the options, guidance, and knowledge you need to develop a strong investment strategy and clarify your goals.
IRAs
An Individual Retirement Account, or IRA, was created specifically for retirement savings. There are two types of IRAs: A Roth IRA offers tax-free* earnings, meaning the money earned on your IRA can be withdrawn tax-free but your contributions aren’t tax deductible. With a traditional IRA, your contributions are tax-free and your earnings accumulate tax-deferred.
Mutual Funds
Mutual Funds offer investment benefits you won’t experience when you trade individual stocks and bonds. A single mutual fund invests in hundreds or thousands of securities at once, so your investment is diversified.
Annuities (Fixed or Variable)
Annuities are insurance contracts used to save for retirement or to generate regular payments during retirement. The issuing insurance company may guarantee a minimum rate of return on your investment.
Get in touch with one of our Unitus Financial Advisors to have a conversation about your plans and goals.
* Please note: Unitus Community Credit Union does not provide tax advice, and nothing in this section should be construed as tax advice. Before acting on this information, consult your own accountant or tax advisor.
Talk with a tax accountant to determine what tax bracket you’re in and what additional benefits you could be taking advantage of. If you do your own taxes, you may not be taking all of the write-offs you’re eligible for. For some people, an adjustment to paycheck tax withholdings can free up money for saving and investment at a greater rate of return.
Talk to a Unitus Home Loan Expert to see if you could benefit from changing the rates or terms of your home loan. For example, it’s possible you’re a good candidate for a lower-term loan with a higher payment that would allow you to pay your house off faster. Contact one of our Home Loan Experts.
Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRASIPC. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
* Please note: Unitus Community Credit Union does not provide tax advice, and nothing in this section should be construed as tax advice. Before acting on this information, consult your own accountant or tax advisor.
As you prepare to retire, it’s key to regularly review your investment portfolio with your advisor. Do you have the right amount of risk in your portfolio? What is the mix of stocks and bonds? Rebalancing ensures that you stay on course with your long-term plan.
Get in touch with one of our Unitus Financial Advisors to schedule a consultation to review and rebalance your portfolio.
Ramp up your contributions
Increasing the amount you save during the last ten years before retirement can make a big difference in the balance you have when you retire. A bit of sacrifice now will pay off down the road. After the age of 50, you’re eligible to make catch-up contributions to your employer-sponsored retirement plans and IRAs. If you’re able, you may want to consider maxing out your 401(k).
Make a plan for paying off debt
Carefully consider how you’ll handle your debt, such as your mortgage, as you transition into retirement. Talk with your advisor about how much you should spend to pay down your debt versus setting aside extra money for retirement.
Guard against outliving your income or assets
Because people are living longer than ever, you run the risk of outliving the savings and assets you’ve set aside. To protect against this, consider an annuity, which is a guaranteed lifetime income that you can’t outlive. Most of us don’t have pensions anymore, but this is one way to create one for yourself. To protect against this, talk to an advisor about how you can help guard against outliving your assets.
Get in touch with one of our Unitus Financial Advisors to schedule a consultation and create a plan for your future.
Long-term Care Insurance
Don’t let your retirement plan get derailed by the unexpected. By putting some key protections in place, you help protect your investments and insulate your retirement savings from being drained by the costs of long-term health care.
A long term care insurance helps protect your assets against expenses for your care, and covers services provided though a nursing home, assisted living facility and home care. While the monthly premiums increase as you age, they stop while you are receiving long-term care.
Interested in this product?
Get in touch with one of our Unitus Financial Advisors to get your policy in place.
In order to create an effective long-term plan for your retirement, we’ll work with you to discuss and clarify the following topics:
- How do you envision your retirement? What will your needs be? What do you anticipate you’ll need for your essential living expenses?
- What are your wants? When we have a clear picture of your needs for retirement, we’ll then prioritize your wants. (For example, buying a beach house or taking an annual trip to Europe are wants, not needs.)
- Looking at your needs and wants, what income will your retirement savings need to generate? Another way of looking at this is, what percentage of your current income will you need during retirement? You get used to living off of the money you’re making now, so it’s smart to ask yourself what you’ll realistically need to live off of after retirement. From there, we can calculate what you’ll need to save.
- What is your monthly budget, and how much can you afford to save? We suggest you “pay yourself first” and treat your retirement savings like the first bill you have to pay every month.
Get in touch with one of our Unitus Financial Advisors to schedule a consultation and create a plan for a secure future.
Don’t let your retirement plan get derailed by the unexpected. By putting some key protections in place, you protect your legacy and insulate your retirement savings from being drained by unanticipated circumstances.
Life Insurance
We make TruStage Life Insurance Policies available designed for credit union members, to help you protect the people who matter most in your life. With many different options in whole and term life policies, TruStage life insurance plans and policies offer affordable rates to fit your budget. They provide excellent coverage, underwritten by CMFG Life Insurance Company.
Learn about this important coverage or call 1.855.612.7909 for more information.
Loan Protection
Should the unforeseen happen, Unitus Loan Protection ensures your loan will continue to be paid over the term of coverage. It is available for most loans, and the cost of coverage is simply added to your monthly payment. Unitus offers three levels of loan protection:
- Life Benefit – Pays off loans up in the event of a death.
- Life and Disability Benefits — Pays off loans in the event of death, and makes loan payments in the case of disability.
- Life, Disability and Involuntary Unemployment Benefits — In addition to death and disability benefits, makes loan payments in the case of involuntary unemployment.
Interested in this peace-of-mind product?
Please visit your local branch, or call us at 800.452.0900 or 503.227.5571, option 2
* Please note: Unitus Community Credit Union does not provide tax advice, and nothing in this section should be construed as tax advice. Before acting on this information, consult your own accountant or tax advisor.
Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRASIPC. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
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