Log in to Online Banking
August means store shelves are filled to the brim with pencils, crayons, rulers, and other school supplies. Department stores are advertising unbelievable sales, and discount stores have coupons galore. We realize that this time of year can be taxing on your budget. That’s why we’ve put together some tips to help you out.
Maintaining a good credit score may mean the difference between being able to borrow money for important purchases and not being able to borrow money at all. For lenders, your credit score is an indicator of how responsible you are and how likely you are to pay back a loan. A higher credit score will likely get you a better rate on your loan, while a low score could come with a higher rate. That difference could add up to tens of thousands of dollars over the course of a lifetime.
There are few things as exciting—and terrifying—as owning your own business. It’s hard work, but nothing is quite as rewarding as being your own boss. But like all good things in life, owning your own business is a lot of work. Even if you have a great idea, it can be incredibly discouraging just to figure out where to start.
Starting a business requires careful planning and taking the right steps. Reach out to your local small business center for expert advice on tax liability, fees, and business structure. Register for an EIN, which you'll need for licenses and taxes. Register with the state and check for additional city fees. Open a Rivermark Business Account to separate personal and business finances. Plan your taxes using EFTPS.
When it comes to keeping costs down, all small business owners know one thing: creativity is key. With that in mind, here are a few smart tactics for driving down costs for your business.
Believe it or not, your mailbox will soon be bursting with credit card offers addressed to you. Having a credit card is a great way to establish credit and to build a good credit history. Unfortunately, having a credit card and using it improperly can ruin your credit. It’s all too easy to be trapped in a spiral of escalating debt, high interest and excessive fees.
You’ve likely heard that cash flow is the life blood of your business. Without a good grasp on how cash is flowing in and out, many businesses fail. Managing cash flow can be challenging, but we’ve put together some strategies to help you.
When it comes to debt or large expenses, there are a lot of options. If you own your home, you may be able to utilize a low-interest Home Equity Loan or a Home Equity Line of Credit (HELOC). These can be better alternatives to high-interest credit cards or other loans as the rates are often lower and terms more flexible. Today we’re going to cover each type of loan, including their risks and benefits.
As our world becomes more and more digital, cyber security is a growing concern for small businesses. Breaches are expensive, in both loss of revenue and reputational risk, with 60% of small businesses going out of business within six months of a breach. Unlike large corporations, your business likely doesn’t have a big cyber-security protection budget. The good news is that there are relatively inexpensive tactics to keep your business safe.
We understand that not everyone may be a fan of crunching numbers and budgeting like we are. But even if you’re no financial guru, you probably like earning money and making it work for you. But to make your money work for you, you have to be strategic in how you use it. That’s why it’s smart to open a checking account with a community credit union like ours.