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https://www.greatbasin.org/loans/business-loans/ Read More February 24, 2017
We don’t charge you a monthly fee. We PAY you every month! Check it out:... Read More February 23, 2017
Our community-minded employees are at it again! Thanks for braving the weather to volunteer for... Read More February 21, 2017
Hailee has something to tell you![embed]https://www.youtube.com/watch?v=_-hkmn9ajT4[/embed] Read More February 21, 2017
Attention all business owners: Don’t miss our next FREE seminar this Wednesday the 22nd at... Read More February 20, 2017
www.GreatBasin.org Read More February 20, 2017
Work hard, play hard! Our 1st Annual GBFCU Employee Game Night was a hit, especially... Read More February 16, 2017
Congrats to Brandi for winning our Giveaway gift card to the Coconut Bowl! Read More February 16, 2017
Get .5% off your rate when you buy with Enterprise and finance with Great Basin!... Read More February 16, 2017
The Great Basin Family was feeling the love for Valentine’s Day! ❤️ Read More February 15, 2017

Featured

Lucky to Have Lindsey!

Meet Lindsey. This Month, she has worked at Great Basin Federal Credit Union for 15 years! We asked her to take a minute out of her busy day in the Collections Department to tell us all a little about herself.

 

  • Last song that came on your iPod: I don’t have an iPod if you can believe it! But I love listening to podcasts on my iPhone! Criminal podcast is my absolute favorite, check it out!
  • Favorite book: The Help….loved the movie too but the book was an amazing read!
  • When I was little, I wanted to be: most people who know me know the answer to this, a police officer! I still do but I am a little more chicken now than I used to be.
  • What superhero would you be and why: I was named after Lindsey Wagner who was The Bionic Woman in the 70’s so I guess I would be her!

 

Lindsey’s boss, Dennis, had this to say about her: “Lindsey is a very experienced and knowledgeable Collection Manager who tries to do everything possible to help our members get through difficult periods.“

Aren’t we all lucky to have a gal like Lindsey!

Congratulations to her on this accomplishment! Thank you for 15 great years. Here’s to many more!

Andy’s Awesome!

We’re Great Basin Federal Credit Union. We’re local to Reno and Sparks. And we’re proud of that!

We offer everything you need in a bank – free checking, over 30,000 ATMs, Visa cards printed in-branch, free Online Banking, a mobile app with check deposit, and great rates on all kinds of loans including auto loans and mortgage loans.

But we also offer the personalized, local service that you deserve. We know your name, and we’re part of your community. Actually, you’re our boss! As a member, you’re part owner and any profit we make goes back to you in the form of low loan rates, low fees, convenience services, etc. When you win, we win! We’re a true cooperative. And proud of it.

Our vision is to be member-loved. So we want to shout about what our team is doing to make sure that we are! Here’s our most recent story:

4 Reasons to Buy a Home Instead of Renting

4 Reasons to Buy a Home Instead of Renting

Wondering which option is best for you and your family? The pros at NerdWallet are sharing their tips with us. 

The financial benefits of buying a home compared with renting have yoyoed over the years, especially of late. If you’re sitting on the fence, here are four circumstances in which it may be a better bet to buy.

If interest rates remain low

From a financing perspective, if this isn’t the best time to buy a house, it’s pretty darn close.

The average interest rate on a 30-year fixed mortgage, the most common variety, has hovered below or near 4% for a while now. For comparison’s sake, if you bought about 10 years ago, the average interest rate was 6.41%. In 1996, it was 7.81%, and in 1981 it was a whopping 16.63%.

Although the Federal Reserve has begun to inch rates upward, it is likely that it will do so slowly and that it will be a while before the cost of borrowing to buy a home stops being historically low.

If home prices level off

Home prices rose steadily in the 1970s, ’80s, ’90s and 2000s before plunging around 2007, and in the past few years they have been climbing again. Different markets have seen different trends, of course, but generally what’s at play is supply and demand: More potential buyers than houses available means sellers can dictate terms and get top dollar.

But something interesting is happening: The oft-told story that millennials are renting for longer or living with their parents nowadays is not entirely accurate. No, people in this age group (born between 1981 and 1997) want very much to own a home, but they are putting it off because of real and imagined difficulties in affording it.

That could mean fewer potential buyers and a cooling of the upward surge in home prices. While others wait, you could pounce.

If rental costs continue rising

Real estate researcher Reis Inc. reports that apartment rents rose 4.6% in 2015. In hot housing markets such as California and the Pacific Northwest, rents are going up by about 14% per year.  According to Zillow, the median asking price nationwide for a rental was $1,575 per month in early 2016.

The monthly payment on a $200,000 mortgage — about the average in the U.S. — with a 4% interest rate would be just over $950. Even with taxes, insurance and maintenance, it’s tough to make a financial case in favor of renting.

If you want to save money

Home values over the past 70 years have generally tracked with inflation. Yes, you could make more money in the stock market. But we’re talking real life, not investment advice. Consider two things:

  • Your rent is locked in for a year or two, then will go up. Your mortgage payment can be the same for 30 years.
  • If you are raising a family, it seems all but impossible to save money. But when you sell the house after 30 years (or 20 or 10), someone will hand you hundreds of thousands of dollars, money that could put the kids through college or finance your retirement.

Ready to look into owning? Whether you’re ready to apply now or you want to talk to an expert about how to get yourself ready to apply for a mortgage in the future, contact our Mortgage Department at Great Basin Federal Credit Union today. We have great rates, we pride ourselves on outstanding service, and we’re always happy to help.

© Copyright 2016 NerdWallet, Inc. All Rights Reserved

New Year’s Resolution: Reduce Monthly Expenses

Financial Consultant: How To Reduce Monthly Expenses

If one of your New Year’s resolutions is to make sure your overall financial health is in good shape, it’s a good idea to dive even deeper and analyze some of your reoccurring monthly expenses that you may be wasting money on as well.

I compiled a list of five common monthly expenses that often times can be adjusted, or cut out altogether, to keep more of your hard-earned cash.

  1. Gray spending on credit cards. Far too many people with credit cards fall prey to monthly subscription expenses they quickly lose track of—such as a 30-day free trial you forgot to cancel, or a monthly Netflix fee. Consider going over the last 12 months of your credit card statements and writing down any reoccurring expenses. Then you can decide what can be changed or cancelled.
  2. Health insurance plans. It’s a great idea to see what insurance plans are available and what makes the most sense for you and your family. Be sure to do this in advance of your insurance renewal date. Most insurance companies offer a calculator feature so you can enter in all of your expected health needs over a 12-month period for each member of your family and see which plan gives you the lowest out-of-pocket spending over a year’s time, not just the cheapest co-pays. You may be surprised to find out you’re not on the most economical plan!
  3. Cable TV. Consider what you watch – with the ability to live stream most network TV shows on demand and the streaming services available through companies such as Netflix, Amazon Prime, Sling TV and Hulu Plus, for many cable has become obsolete. Decide what you and your family actually watch and decide if expensive cable bills can be a thing of the past for you and your wallet.
  4. Home and auto loans. With interest rates considerably low, it’s worth the time to evaluate the benefits to refinancing your home or auto loans to see if there’s a lower rate option than what’s currently on your loan(s). Refinancing to a lower rate can reduce your monthly payments by hundreds to thousands of dollars a year.
  5. Cell phone plans. Mobile companies have begun to do away with their super strict, two-year service contracts and are often times overselling you on services and data you don’t actually use or need! Do some research on your current contract and your provider’s fees, discounted family plans and what you’re currently paying. See if there’s a better, cheaper monthly option for your needs that will save you money.

If there’s a way that you’ve cut on wasteful spending, send me an email. I’d love to hear about it and add it to this list! Don’t hesitate to contact me at (775) 789-3140 to schedule an appointment if you’d like to further discuss your financial situation.

All the best,


Steve Lindquist
stevelindquist@peakfns.com
Financial Consultant
9600 S. McCarran Blvd.
Reno, NV  89523
(775) 789-3140

 

Registered representative offering securities through Cetera Advisor Networks LLC (doing insurance busines in CA as CFGAN Insurance Agency), member FINRA/SIPC.  Cetera is not affiliated with any other named entity. CA Insurance License #0G30574. Investments are not deposits; not NCUSIF insured; and not insured by any federal government agency.  No credit union guarantee.  May lose value.

Wonderful Will

Meet Will. We’re celebrating 3 years that he has worked at Great Basin Federal Credit Union! We asked him to take a minute out of his busy day in the IT Department to tell us a little about himself.

  • Favorite movie: Dumb & Dumber
  • Favorite thing to snack on while working: Starbursts
  • Favorite book: IT for Dummies
  • Favorite part about working at Great Basin: Proximity to the Dollar Store, also the coworkers aren’t too bad
  • When I was little, I wanted to be: An Astronaut, specifically the First Man on the Sun. When I figured out that wasn’t happening, a Garbage man
  • Favorite pastime: Camping

Will’s boss, James, said: “Will is always ready to pitch in and help. He has great relationships with the members and employees alike. Both will likely attest that he is also one of the funniest people they know…”

Aren’t we all lucky to have a guy like Will?!

Congratulations to him on this accomplishment! Thank you for 3 great years. Here’s to many more!