04 Jan

3 Ways to Pay Off High Interest Credit Cards

Did your holiday excesses extend to all aspects of your life? If so, we have a few suggestions about how you can pay down your high interest credit cards.

  1. Free cash advances on RMLEFCU credit cards*

    – Normally a credit card company would charge a fee of 3-5% of the amount of cash you withdraw. With RMLEFCU it is free. Use this cash to pay down another card or an outstanding bill.

  1. Free balance transfers onto a RMLEFCU credit card*

    – This is a great member benefit since 3% of the amount you are transferring is usually the price you pay for transferring a credit card balance.

RMLEFCU has three different credit cards to choose from.

  • Classic Visa®
  • Platinum Visa Select® – 7.25% APR*.
  • Platinum Visa® – 12.75% APR* by visiting UChooseRewards.com

The idea behind a balance transfer is simple. You open a new credit card with a low interest rate and move the balance from your old, high-interest card to the new one. Essentially, this means that the debt on your old card has been paid by the new card. After you complete the transfer to the new card, you can start paying it down. You’ll be amazed at how much you can save when your interest payments have been drastically reduced.

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16 Nov

Move Over Credit Card and Make Way for the Holiday Loan

Holidays are all about enjoying time with friends and family and being grateful for the blessings in your life. However, there are some pesky expenses that creep up this time of year. If you are traveling to see family or friends prepare yourself for airfare, hotels, and meals outside of the home. If you’re a gift-giver, your out of pocket spending grows with each recipient on your list. Furthermore, if you are hosting friends and family at your home, you will need to buy and prepare food for the festivities.

There is a good reason to take out a Holiday Loan with the Rocky Mountain Law Enforcement Credit Union and it’s often overlooked. Hint: There’s a percentage involved. That’s right, the interest rate on your credit card. Before you pull out the plastic, consider how much that interest rate affects the total amount you end up paying for each item on your list. Rather than use a credit card for a big ticket item like airfare or Christmas gifts, our Holiday Loan rates starting at 6.95%* can save you money over time.

A few suggestions on how to use your RMLEFCU Holiday Loan:

  1. An experience whose memories last longer than the holidays. Why experiences? Most importantly, research has shown they make you happier than consumer goods. You can take a longer trip during the holidays or book a trip for later in the year. We found one traveler who did a three week European tour for $2,500, including hotels and airfare. If you are willing to put in the time and research, you can save money.
  2. Love where you live with your very own sports bar. Do you entertain? Wish that you had a place where your friends can watch the games? Heck, you’ll save money at home by not buying drinks and food at a bar or restaurant. Use your Holiday Loan to purchase a big screen TV and speakers for surround sound.
  3. Up your game with new golf clubs. There’s a PGA Superstore in South Denver that will have everything you’d ever need.
  4. Purchase a new firearm and accessories. Besides the gun itself, it’s a good idea to have spare magazines, ammunition, a gun lock and/or safe, eye protection, and ear protection. It depends on the firearm you select, but having a gun rack is an expense to consider. Check out 5280 Armory to support a local business owner.
  5. Hit the slopes all season long with a new ski or snowboard set up. If you’re getting fully outfitted you’ll also need a new ski jacket, pants, and boots in addition to a pass. If you go to Colorado Ski & Golf, you may end up covering #3 and #5 at the same time.

With Rocky Mountain Law Enforcement Credit Union’s 6.95% APR* Holiday Loan you’ll have up to 12 months to repay. Call our Loan Department at 303-458-6660 or visit rmlefcu.org today to begin the process.

*Annual Percentage Rate. With approved credit. Some restrictions may apply. But don’t delay, this offer is valid from November 1st, 2016 thru December 31st , 2016.

22 Jun

5 Things to Do When Buying in a Seller’s Market

When you’re buying a home in a seller’s market put yourself in the mindset of a contestant on an episode of the Amazing Race. Success depends on being resourceful, keeping a positive attitude, and managing your resources.

Thankfully, Rocky Mountain Law Enforcement Federal Credit Union can offer their members competitive rates and advice in the form of these five MUSTs before you start looking on Zillow, Redfin or your favorite local realtor’ website.

  1. Get your financing in order.

    In short, pay down your debts, have money earmarked for a down payment and check your credit report so there are no surprises.

    1. Pay Down Debts – Pay the most expensive first. This is the bill with the highest interest rate. Consider moving your balance from one credit card to another with a 0% interest rate, but be faithful with your payments before the 0% offer expires.
    2. Down Payment – Aim for 10-20% of the purchase price.
    3. Credit Report – Order your free one here. Get all three at once. Check for late payments and make sure they are not erroneous, especially recent late payments. If your name is common, make sure that the address noted is correct. If you see something that shouldn’t be there, call the creditor whose name appears alongside the disputed information.
  1. Get a low interest loan.

Here’s where Rocky Mountain Law Enforcement Federal Credit Union can help. From now until the end of June we can offer 125%* for 30 year and 3.25%* for 15 year loans. There’s no requirement for private mortgage insurance and we’re offering extremely low origination fees of 0.5%.

  1. Be willing to look in different areas and during the weekday.

If there’s a great house out there but you’re only able to view it on the weekends, you might lose out. Buying in a seller’s market means meeting the realtor at the first opportunity. Having a manageable commute is important, but be willing to look for homes in areas you haven’t considered. Arvada and Lakewood are our picks if you want to live closer to the mountains.

  1. Be flexible with the closing date!

Summer and Fall are busy and maybe you have dates in mind that would be less than ideal for moving. Sorry to say, you need to make it work for the seller when you’re buying in a seller’s market. What matters most ultimately is the price you end up paying – and getting a home that works for you. Don’t get hung up on dates.

  1. Shorten your lists of must haves.

You may think you have to have air conditioning, but a swamp cooler can do just fine in this area of the country. Be open to a corner lot, replace the kitchen cabinets yourself, and don’t get stuck on the existing paint colors. Certain characteristics are non-negotiable: school districts, number of bedrooms for each child (bunking brother and sister together for the “perfect house” is not recommended). Save your long list of must haves for a buyer’s market that will eventually happen. If anyone has any guesses of when, let us know.

Buying in a seller’s market is difficult, but not impossible. Stay tuned for more home buying advice from RMLEFCU.

*Annual Percentage Rate. With approved credit. Some restrictions may apply. Applications must be submitted by June 30th, 2016 to qualify for the promotional rate and origination discount.

19 Apr

Which Motorcycle Suits Your Personality?

RMLEFCU is bringing back low motorcycle loan rates with the Toys of Summer Loan. Get a  motorcycle, boat, ATV or JetSki with rates starting as low as 2.99% APR*

Motorcycles are popular with many of our members, but if you are new to riding, how do you choose which motorcycle is right for you?

A good place to start is to check how much different models weigh. The weights should be listed on the manufacturer’s website. If you are less inclined to lift heavy objects, it may be wise to pass on that heavy cruiser.

Let’s look at 3 main types and what type of rider is drawn to each.

Touring Motorcycle

These are specifically designed for covering long distances with large-capacity fuel tanks and a relaxed, upright seating position. You can ride alone or with a partner and there’s room for storage. Touring bikes are great for riders who want to get out and explore Colorado and take weekend long trips. (or longer!)

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03 Feb

An Owner’s Manual to Picking the Right Used Car

autotrekRocky Mountain Law Enforcement Credit Union has partnered with AutoTrek to help first time car buyers. AutoTrek is an auto broker who works with you to find the car you want and helps you negotiate a price that works for your budget. AutoTrek carries an on-site inventory of 100 vehicles on average and has access to 40,000+ additional vehicles with their franchised dealer partners. As for new cars, AutoTrek represents 300,000 plus credit union members we are treated as a large “fleet buyer” and receive the lowest pricing available.

For members purchasing their first car, you’ll receive $100 cash back when you borrow up to $10,000 or $150 cash back when you borrow up to $15,000. On top of this, AutoTrek and RMLEFCU are offering a $100 gas card. With gas prices as low as $1.40 a gallon in the metro area, you can put plenty of miles on that new or “new to you” vehicle.

Get pre-approved by RMLEFCU and then call (303) 934-5600 to connect with AutoTrek’s experienced team.

Here are a few best practices before you make things official with the car, truck or SUV of your dreams.

  1. Take a test drive on both highway and city streets. Hitting the city streets will showcase how the car handles turns and bumps. On the highway, you’ll be able to see how fast it can accelerate and whether you notice any road noise. If you drive up any kind of incline (Lookout Mountain, anyone) you can quickly see whether it handles hills the way you were hoping.

 

  1. Look over the exterior with a fine tooth comb. If there has been repair work, how well was it done? Its always a good idea to check out the Car Fax. With an eye to the future, maybe those scratches and nicks are not important to you, but consider what happens when you try to resell the car to a dealer or private party.

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10 Nov

Christmas Comes Early This Year!

car blogpic

Dr. John, esteemed blues musician once sang, “I been in the right place But it must have been the wrong time.”

What if we told you that NOW, and NOT the holidays, is the right time to buy a car and RMLEFCU is the right place to finance it.

After all, two rights make a good decision. You can quote us on that but we don’t expect any songwriters to use it in their lyrics.

Forget the obnoxious car commercials with yellow Labrador puppies and big red satin bows on top of luxury cars, you need a car that performs well, doesn’t break the bank, and gets you where you need to go safely without frequent mechanical issues. Whether your future car has an overwhelming new car smell and double digits on the odometer, or is “new to you,” RMLEFCU is standing by ready to offer some of the most attractive car loans in the Denver metro area.

We offer auto loan rates starting as low as 1.99% APR* with up to 36 months to repay.

Our little “blue” bow is that you have no payments for 90 days when you purchase October 1–December 31, 2015. When you finance with us before the end of the year, we will also give you a $50 gas card as a thank you. Have you seen how cheap gas is lately? We crunched the numbers and if your car averages around 25 miles per gallon, you could travel 225 miles. That’s a lot of trips to the store, Home Depot, the nearby park for practice. Do you know what kind of new or “new to you” car is right for you? We found a great quiz with only 8 questions to help you decide. There’s nothing scientific about it since most of what goes into our car purchases involves emotions. If the thought of your car has you, or your mechanic, wincing, it’s time to talk to a RMLEFCU representative.

Just like with buying a home, why not get pre-approved before you even set foot in the dealerships lot? Also check the Credit Union Direct Connect (CUDC) website.  Rocky Mountain Law Enforcement Credit Union partners with over 300 dealerships in Colorado to make the buying experience even easier. Select a dealer and tell them you are a member of RMLEFCU and they can process all the loan paperwork for you on the spot!

 

 

 

27 Oct

What is a Holiday Loan SlideBy and How Does it Work?

RMLEFCU Holiday SlideByAre you dashing through the dough during the holiday season? Do you want to show-up Santa this year and be the star of the gift-giving season? Or do you just want to treat yourself to that night out you deserve, blow off some steam and deal with the shopping tomorrow? Maybe you need to skip a payment and put that money to better use this year! With RMLEFCU’s exclusive Holiday Loan SlideBy, you can skip loan payments in November or December and keep some extra funds on hand when you really need them. The holidays can be rough, let us help you carry some of the load.

How it works:

Complete the coupon below, which includes your agreement to pay a small $25 processing fee for each loan payment skipped, and return it to the Credit Union. Once approved, you have the privilege of skipping either your November or December payment and using that extra money for holiday cheer or maybe just a well deserved beer! Most consumer loans qualify (sorry no lines of credit, VISA or mortgage loans!)* and the coupon must be received by RMLEFCU no later than October 31, 2015, for a November SlideBy, or November 30, 2015, for a December SlideBy. So Put the fruitcake down and hit the mall for the gifts they’ve been asking for! Tell Santa and the reindeer to stay up north this year, you’ve got it covered.

Holiday Slideby

*This offer does not include lines of credit, VISA, first mortgages, or second mortages. Must be current on loan(s), must have made a first payment, no delinquencies in the last 12 months. All individuals who signed for the original loan must sign the form. Credit Life Insurance, Disability Insurance, Warranty, Debt Protection, or GAP coverage will only cover the original term of contract. Interest will accrue on the unpaid balance during the month you skip your payment(s), and when payment(s) resume, the unpaid interest will be collected first.* I also understand that signing this form does not necessarily mean I automatically qualify. * Please contact the loan department for more details and qualification requirements 303-458-6660.

11 Sep

4 Health Benefits of Taking a Road Trip

A year ago gas prices in the Denver area hovered around $3.59. Due to domestic oil production ramping up and global thirst for oil petering off, gas prices have dropped to $2.60 a gallon, give or take a few cents. If you have a few vacation days you need to use before the end of the year, may we suggest a good ol’ American road trip? We’ve rounded up the top 4 reasons that doing so may have both mental and physical rewards.

  • Easier to go tech free

According to an April 2015 Gallup poll conducted on 4,475 adult U.S. workers, almost 50 percent of workers who frequently use work email outside of normal working hours reported feeling stressed “a lot of the day,” as compared with around a third of those who don’t check work email after-hours.

Most airports, and even some planes, have Wi-Fi. As much as you’d like to unplug, the outside world can still reach you on your smartphone. But when you’re cruising in your car on your way to Wall Drug in South Dakota, your only thought will be, “Why haven’t I done this before?” instead of the obligations waiting for you back in Colorado.

  • Feel better when you head back to work

We all need a break in our routine. It’s healthy and helps us press the reset button. There is a caveat though. Most of the happiness you’ll get from vacation depends upon the stress level of the vacation. Why not just get behind the wheel and avoid the ever shrinking tray tables and chatterboxes on the plane? Let’s face it, plane travel has been the opposite of glamorous for decades but the open road hasn’t lost its allure.

  • Save money

 Saving money makes us happy. Who hasn’t bragged about saving a few bucks when their friend paid full price for something. It’s easy to save money when you take the road by the wheel since  gas is cheaper and there are no extra charges for checked or carry-on bags!

  • Even planning a vacation has health benefits

A recent study, published in the journal Applied Research in Quality of Life, showed that the largest boost in happiness comes from the simple act of planning a vacation. In the study, the effect of vacation anticipation boosted happiness for eight weeks.

What if your car’s heyday has gone and went? If you are in the market for a new or used car, RMLEFCU has car loans that can help you trade in that jalopy.

As a member of Rocky Mountain Law Enforcement Credit Union you enjoy:

Don’t forget that our employees can review whether it makes sense to refinance your current vehicle to potentially lower your rate. We’re family after all, looking out for you, even when you don’t ask.

 

 

 

28 Jul

Top 3 Motorcycle Rides in Colorado

motorcycle loans_blog post

Rocky Mountain Law Enforcement Credit Union understands the lure of the open road. We offer motorcycle loans starting at 1.99% APR to keep your payments as low as possible. That way your attention can be on riding and not how you’re going to be able to afford your bike.

Riding a new (or new to you) motorcycle while surrounded by Colorado’s beauty is something Midwesterners can only dream about. If you have an appreciation for history, beautiful mountain views, and great food, these three trips should fit the bill.

1) Lariat Loop – Short on time, long on adventure.
Begin the loop in Golden at 19th Avenue and 6th Avenue by heading left on 19th. This will turn into Lariat Loop Road and Lookout Mountain Road. Your first stop is Buffalo Bill Memorial Museum and Grave. Admission is only $5.00 and you’ll see artifacts associated with “Buffalo Bill” Cody’s life and times between 1846 and 1917. There is also a gift shop with fudge, ice cream and of course, buffalo burgers.
The Lookout Mountain Nature Center is a mere 3 minutes away. Here you may catch a glimpse of wildlife among the 134 acres dotted with ponderosa pines and meadows. Look out for an Abert’s squirrel, aka a “squabbit,” scrambling across the trail in front of you. Other highlights include panoramic views of the Denver metro area.
Head back down Lookout Mountain and take Highway 40 west until you hit I-70 West and then take Highway 74 into Evergreen. Here you’ll find a bar called the Little Bear that brings national acts, primarily rock n’ roll and Blues to this mountain community.

The next town you’ll hit is Morrison, home to Red Rocks and the Morrison Inn. If you haven’t sat on the deck of the Morrison Inn with a basket of chips, salsa and a margarita, do yourself a favor and stop there. From Morrison you can take C-470 back into Denver.
Total miles: 40
Map

2) Highway of Legends – Walsenburg, CO to Trinidad, CO
When you leave Walsenburg, take CO 12, aka Highway of Legends.
You’ll see the Devil’s Stairway, a staggered rock wall where legend has it that the Devil came out from hell to survey the world, choosing the Cuchara Valley as his entrance. He would climb the steps and sit on the twin mountains, plotting how to make it his. God learned of this, and noticing the beauty of the mountains and valley, took it as his own. He forbade the Devil to ever enter the area again, but the Devil’s steps still stand.
Continue on to Cuchara, near the Spanish Peaks Wilderness area. Cuchara was home to a ski resort from 1981-2000 and many owners have tried to revive it through the years. Most of the infrastructure remains giving it a modern day ghost town appeal. The gear shop is still packed with skis, helmets and poles.
Be sure and stop at the Dog Bar in Cuchara and enjoy live music, pizza, and great people watching on the large outdoor patio.
Total Miles: 82
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