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Archive for month: September, 2019

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  • Side Profile Of A Young Woman Working On A Laptop Computer
September 26, 2019
26 Sep 2019

The Ultimate Guide To Your First College Laptop

Your laptop will be your new BFF in college. This is where you’ll store your notes, record important lectures, outline your study schedule and write up your term papers. But, with such a wide variety of laptops on the market, the choice can be overwhelming and confusing.

Check out our comprehensive guide for laptop-shopping before deciding which one is right for you.

1. Choose your platform

You have three primary choices when it comes to choosing an Operating System (OS) for your laptop.

Microsoft’s Windows. Widows offers a flexible OS that is featured in notebooks that cost as little as $150 and in upgraded models that retail for as much as several thousands of dollars. Windows digital assistant, Cortana, is a powerful tool that can help you navigate your computer and search the web for relevant information, and its stylus is super-versatile, too.
Apple’s macOS High Sierra. Similar to Windows, Apple’s OS offers what many users consider to be a simpler interface. Mac users have digital assistant Siri, and can use Apple Pay to manage their finances. If you’ve got an Apple Watch, you’ll be able to unlock your laptop with a flick of your wrist.
Google’s Chrome OS. You’ll findGoogle’s Chrome OS on cheaper Chromebooks, like the Samsung Chromebook 3. Chromebooks are extremely portable, but with the Chrome browser serving as the laptop’s primary app, it’s essentially a tablet with slightly more functionality.

2. Choose your specs

Make sure your computer is equipped with the tools you need:

RAM. Look for a laptop with a minimum of 4GB, or even 8GB if you can swing it financially.
CPU. The brains of your computer will determine its processing power. You’ll find a broad range of CPUs in laptops and notebooks. Your best bet for a budget laptop that still performs well is to get one using an Intel Core i5 CPU or its equivalents, like the AMD Ryzen Mobile. More powerful CPUs can really hike up the price, and those that are cheaper usually aren’t worth the money you’ll save.
Display. If you can afford it, choose a laptop with a minimum of 1920×1080 pixels, or full HD. Most cheaper laptops only offer 1366×768, but it’s usually worthwhile to pay extra for a sharper image and a larger capacity for content on the screen.
Touch screen. Touch screens are standard in all two-in-one models, but if you’re purchasing an ordinary laptop, a touch screen will decrease your battery life without offering many benefits.

3. Choose a price range

These days, you can pick up a laptop for as little as $150-but those are usually web-centric Chromebooks that offer very little storage and have weak processors that won’t meet your needs as a college student.

Here’s what you can expect to find in various price ranges:

$350 to $600: You can find a very decent laptop for less than $600, complete with 8GB of RAM and an Intel Core i5 CPU. At this price range though, you’ll likely be missing out on the longer battery life and HD display.
$600-$900: Once you break the $600 mark, you’ll have your choice of upgrades, such as metal finishes and sharper, higher-pixel displays.
$900+: If you’re ready to pay anything near the $1,000 mark for a laptop, expect to see lightweight computers that deliver a faster, more powerful processor and a super-sharp display.

4. Choose a battery life

Here’s where you need to determine exactly how you will be using your laptop. If it’s mainly going to serve as a desktop computer that’s carried around only occasionally, you can afford to choose a cheaper computer with a short-life battery. But, if you’re like most college students who wind up lugging their laptops around everywhere like a third arm, aim for a battery life that offers a minimum of 7 hours of untethered power.

Your laptop might be the most important tool you use in school. Spend some time choosing the one that’s right for you so it serves you well throughout your years in college.

 

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September 24, 2019
24 Sep 2019

Join Education First for the 36th annual UNCF Walk for Education!

2019 Walk for Education – Columbus

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  • Teacher Of The Year
September 19, 2019
19 Sep 2019

Education First Proud to Donate to Teacher of the Year, Mona Al-Hayani

Education First Credit Union is excited to announce its donation of $1,500 to Mona Al-Hayani, the Ohio Department of Education’s 2019 Teacher of the Year.

The Ohio Teacher of the Year title is annually awarded to a noteworthy teacher in the state of Ohio, celebrating their exceptional work. This year’s winner, Mona Al-Hayani, teaches history at Toledo Early College High School. Known as “Ms. Al,” by her students, Mona also advises Young Women for Change, a student-led group of about 60 girls that strives to help prevent and promote awareness of human trafficking.

“We also teach the girls about nutrient, social media safety and how to manage stress,” says Al-Hayani.

Al-Hayani says she plans to use the donation from Education First to help fund transportation for the girls of Young Women for Change to take them to Columbus in February for Human Trafficking Awareness Day, where they will be presenting at the Ohio Statehouse.

“Mona is, by her actions, what really inspires our youth to seeking careers in areas that can change the world. She is a great teacher and is truly committed to her students and leading them to seek change to injustice and prepared them for an often-imperfect world, says Education First CEO Mike Wettrich. “Our support furthers her passion to stop human trafficking and show young minds that you can make a difference.”

Al-Hayani is also the Vice President of the Toledo Federation of Teachers and serves as the Federation’s Director of Human Trafficking and Social Justice Issues. She is responsible for training all district employees about anti-human trafficking and is currently working to develop a curriculum for teachers.

A native of Toledo, Al-Hayani attended Toledo Public Schools herself, before earning two degrees from the University of Toledo. She has spent her entire 24-year teaching career in Toledo Public Schools.

“I really believe in Toledo’s schools and our students here,” says Al-Hayani. “The kids at [Early College] are taking college classes and they work incredibly hard. Most of our students graduate with 60 or more college credits and go on to graduate from college.”

Established 14 years ago with a grant from Bill Gates, Toledo Early College is a highly rated, public, magnet school that serves under represented populations, such as minority students, English language learners and those living in poverty. Students regularly perform well above average on state tests and rankings, thanks in part to great teachers like Al-Hayani.

“It’s hard to be a teacher these days,” says Al-Hayani, “I say that after having taught for over 24 years. It can be especially difficult for urban teachers. There are unique challenges that we face daily, but the kids are hope and if they can persevere then we teachers certainly can as well.”

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  • An attractive woman in a car holds a car key in her hand. Rent or purchase of auto - concept.
September 17, 2019
17 Sep 2019

Why You Should Finance Your Next Car Loan at the Credit Union

When shopping for a new set of wheels, your first stop should be right here, at Education First! Though many people start their process on the dealer’s lot, you’ll enjoy a lower rate, a simpler loan application and other benefits by choosing to finance your car with the Credit Union.

This is why people are increasingly choosing to finance their cars directly through credit unions. In fact, auto loans comprise more than a third of all the active loans across the 5,600 credit unions in the U.S.

Let’s take a look at the differences in the auto loan process at a car dealership versus the Credit Union

Financing an auto purchase at a car dealership

When you visit a dealer’s lot with the intention of purchasing a car, the dealer will likely ask you how much you’re willing to spend on your vehicle of choice. You may have already worked out your numbers, or, you may just have a vague idea of how much you can realistically afford. Either way, the dealer will probably try persuading you to push your self-imposed limits to the max or even to go over your ceiling price.

But, if you’re financing your car through the dealer, that’s only the beginning. Once you’ve chosen the car you’d like to buy, you’ll need to submit a complicated auto loan application form, which the dealer will send to the finance companies it partners with. This can include lenders and financial institutions – even Education First. The dealer will then share the lenders’ offers with you and ask you to make your choice.

However, in most cases, the dealer is only the middleman. This means they are going to present your options in a way that most benefits them – and not you. Thanks to this practice, even a fantastic offer from Education First will be presented as higher than it actually is, or may not be presented at all.

For example, say your dealer contacts three lenders: Lender A, Lender B and Lender C. Lender A agrees to offer you a 5% Annual Percentage Rate (APR), Lender B offers a 6% APR, and Lender C offers a 7% APR. But the lender will not automatically present you with Lender A’s offer. Instead, they will first determine which lender would afford them the greatest profit.

The rates presented by the above lenders are known as the “buy rates,” or the lowest possible rate the lenders will grant the borrower. Lender A might offer the dealer a flat fee for each new loan the dealer nets them at the buy rate, with more profit granted for each new tier of a car price, such as $10,000. Lender B, on the other hand, allows the dealer to increase the buy rate by 3% to a new “contract rate.” The dealer then pockets the difference as his own profit. Lender C allows the dealer to offer a contract rate at 2% higher than the buy rate.

In the above scenario, it isn’t hard to picture the dealer pushing you to accept an offer from Lender B or Lender C at the new contract rate of 9%. If you complain that this rate is too high, the dealer may then suddenly “remember” that Lender B is willing to finance the loan at a 7% APR. In either case, there’s very little chance you’ll end up being presented with the offer that is truly in your best interest. And you’ll never even know you’ve been duped!

Financing an auto purchase at a credit union

Getting an auto loan with the Credit Union is a completely different experience. Why? Because we exist to serve your best interest.

When you walk into Education First with the intention of taking out an auto loan, you’ll be dealing with people who know who you are and what your financial reality is like. No one will try to push you into a loan you can’t afford.

The process of applying for an Education First auto loan is simple, quick, and easy. You can even apply for a loan online or over the phone. Also, as a member of Education First CU,you already have a headstart on getting that pre-approval.

One of the biggest advantages you’ll have when financing an auto loan through the Credit Union, is a lower APR. Because you’re working directly with the lender, you’ll only hear the actual rate we offer instead of a marked-up rate the car dealer presents to you.

Also, as member-owned and operated institutions, credit unions famously offer loan rates that are consistently lower than those offered by large lenders and banks. In fact, according to Bankrate, the average APR on a credit union auto loan in the beginning of 2019 was a full point lower than the rates offered by banks.

Another key advantage you’ll enjoy from a credit union-financed auto loan is a more relaxed setting when determining how much you can afford to pay each month toward your new car. There’s no rush and no pressure when you’re sitting at Education First and working out your budget. In contrast, when you’re standing in the dealer’s lot surrounded by cars you wish you could afford, you’re far more likely to make a decision you’ll later come to regret.

If you’re in the market for an auto loan, make your credit union your first stop. You’ll enjoy a lower rate and the friendly, professional service you’ve come to expect at Education First Credit Union.

 

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  • Spend The Day
September 9, 2019
09 Sep 2019

For Birthdays, Weekends and Celebrations, Why Not Party at Home?

Birthdays and holidays are wonderful, but you don’t have to bust your budget to celebrate a special day. Instead, party at home! Cook up a family member’s favorite dinner instead of going out to eat and make birthdays festive with low-cost party decorations that you can pick up at the dollar store. Play some party games to up the fun factor and top it all off with a delicious homemade cake.

On weekends, save money and spend a fun day at home. Create some wonderful memories inside your own four walls while saving on gas, snacks, drinks and a lot more. Instead,  you can have a family game tournament, set up a homemade carnival, get out the popcorn and binge-watch all your family’s favorite movies, or even host a talent show and let everyone perform.

When you’re with family and you’ve got a positive attitude, your options are endless!

 

 

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  • Inspiration
September 5, 2019
05 Sep 2019

Do Monthly Bill Payments Affect Your Credit Score? – They could if you use a Rent Reporting Service.

Q: I’m working on improving my credit score, so I’m being extra careful about paying my bills on time. But, since I don’t see these payments reflected in my score, I’m wondering: Do my monthly payments, like utility bills, count toward my credit score?

A: It’s commendable that you’re working toward improving your credit score, because building and keeping a strong credit history is crucial for your long-term financial wellness. However, unless you’re delinquent on a monthly utility bill, these payments will not affect your credit score.

However, there is a way out. Read on for four steps that can help your on-time monthly payments boost your credit score.

1. Use a Rent-Reporting Service
Your monthly rent payments can reflect positively on your credit score, but only if the credit bureaus know you’re paying your rent on time. They won’t accept this information from consumers, but you can sign up for a rent-reporting service, which will pass on this information to one or two of the three major credit bureaus. Some of these services are free, though most charge for the service, with fees of up to $100 a year.

Here’s a quick overview of some of the more popular rent-reporting services:

Rent Reporters: For a one-time enrollment fee of $94.95, your rent payments will be reported to TransUnion and Equifax for two full years. If you want to continue with the service after the initial two-year period, the cost is $9.95/month.

Rental Kharma: You’ll pay $25 for the initial setup and then $6.95/month. Rent reporting through this option is shared only with TransUnion.

RentTrack: Fees vary for this option, and it’s dependent on whether your landlord also uses the service. RentTrack, though, reports to all three credit bureaus.

2. Sign up for Experian Boost

Since early 2019, the Experian credit bureau has offered consumers the opportunity to have utility bills reflected on Experian credit scores. To sign up for the service, Experian requires access to your checking account information so the agency can identify your bill payments. Once it’s found the relevant information, Experian will ask you to verify the details and to confirm that you want this information included in your credit report. Once consent is received, your credit score boost will happen instantly. Experian Boost only accepts on-time payments and, consequently, can only improve your score. However, if you neglect to pay any reported bills for three consecutive months, the change in your score will be reversed and will fall back to its previous level.
It’s also important to note that Experian Boost only increases your Experian score and does not affect your Equifax or TransUnion scores.

3. Use SimpleBills

SimpleBills is a service that currently reports utility bills to Equifax, with plans to include TransUnion and Experian in the future. The credit-reporting service charges $2.99/month and can be helpful for those who want to improve their score for building a credit history to qualify for a credit card or a loan payment.
Unfortunately, while your Equifax number may see an increase through SimpleBills, major score algorithms, like FICO and Vantage, might not consider this data when calculating your score.

4. Go Off the Beaten Track
If none of these options sound attractive to you, consider going the unconventional route by seeking an alternative score.
Alternative scores, like the PRBC or the FICO XD Model, will include information like your cable, rent, insurance, phone, utility and student loan payments, when calculating your credit score. Some alternative scores will integrate this data on their own, while others will allow you to self-report these payments, sometimes for a nominal fee.
While alternative scores can help individuals appear responsible for prospective employers and landlords, they won’t do much to build your real credit history or to make you eligible for a large loan.

If you’re serious about improving your score, you can take one or all of the steps outlined here to help your on-time bill payments boost your numbers. For the biggest impact on your score, make sure you are paying all your credit card bills on time, preferably in full. Don’t open any new cards while working on improving your score, and keep your credit utilization low.

If you need help managing debt and staying on top of your credit score, look no further than Education First CU! Give us a call at 614-221-9376 to see how we can help. Your financial wellness is always our priority.

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  • Mr Knight
September 5, 2019
05 Sep 2019

Mr. Knight

“Forget banks, join the Credit Union and they’ll really work with you. Tell them where you want to go financially and they’ll see you through to your goal. [Education First] Relationship Officer, Fern, is the best set of eyes I could ask for.”

– Robert K., Education First member since 2001 

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  • Join Us
September 4, 2019
04 Sep 2019

Join Us for a FREE Seminar on Financial Planning Basics

Do you have financial questions? Need some guidance on financial budgeting and planning?

Join Us for a FREE Seminar on Financial Planning Basics

Wednesday, September 25th.
5:30PM – 7:00PM.
510 E. Mound St. Columbus

Reservations are free, but requested. To RSVP please email Melissa Bell at mbell@educu.org or give us a call at 614-340-1529.

We look forward to seeing you there!

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  • Books
September 4, 2019
04 Sep 2019

How To Save On Your First Set Of College Textbooks

Don’t blow your budget on textbooks! Use our hacks to save a bundle on the books you need for college.

Purchasing every textbook you need for class can take a big bite out of your budget. We’re talking huge amounts here: According to the National Association of College Stores, the average college student spends upward of $80 on each new textbook and can sometimes drop as much as $175 on one volume.

No worries though; you can get your hands on all the books you need for class while also keeping your budget intact!

Read on for 6 ways to save on textbooks this semester.

1. Skip the college bookstore

If you’re looking for an overpriced place to pick up your textbooks, be sure to hit the on-campus bookstore. Otherwise, stay as far away as possible. You’ll be paying through the nose just for the convenience of getting your books on campus.

2. Shop for used books online

Anything new will always cost more, and unless you’re shopping for a math book with specific page numbers and examples, you can usually get away with an older, used edition of the textbook you need for class.

Shop online for the best prices on the books you need, using popular platforms like Amazon, eBay, book.ly and Chegg to get the hottest deal.

3. Rent

If you only need to use a textbook for a short amount of time, or you know you’re going to toss it after the course is over, look into renting instead of buying the book. You can save up to 90 percent off the cost of a new textbook this way, and 50 percent off what you’d pay if you’d purchase it used. Check out sites like Textbooks.com and CampusBooks.com to get started.

4. Share

Are you and your roomie taking the same course? Why not buy one textbook and split the cost?
This arrangement can work well if your prof doesn’t ask you to bring the textbook to class and you only need to occasionally reference it for homework and supplemental reading.

5. Go digital

If you have an e-reader, you can save a tidy sum by choosing to download your textbooks in ebook format. You’ll find ebooks available for many works of fiction, historical texts or essays you might need for class. Just make sure the ebook you choose is easy to navigate or you might wind up regretting the purchase.

6. Hit the library

Before spending a penny on textbooks, check out the school library to see what they have in stock. You might be pleasantly surprised at the broad selection of books available for students, especially works of fiction and non-fiction for liberal arts classes.

 

 

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