First Federal Bank Blog

It’s never too early to start building a strong credit history. A good credit score can help you pass employment background checks, get you approved for apartment leases, qualify you for lower interest rates on student loans, or help you buy a car. And because your credit score is heavily impacted by credit history, establishing credit while...

Car prices have been steadily rising over the past few years, and despite a promising decline in used car costs in the second half of 2022, the upward trend shows signs of continuing in 2023. There are a variety of factors contributing to this increase in prices, from supply chain disruptions to changes in consumer demand. Let's explore several of...

If retirement is in your near future, you’ve probably mapped out how you’re going to spend your newfound freedom, where you’re going to go, and how much you’re going to love sleeping in or staying up late. Whether retirement is years in the future or simply months within reach, you must carve out time to complete a few important financial chores...

When you retire and become eligible for Medicare and Social Security, you’ll no longer need to worry about purchasing certain types of insurance, such as basic health or disability coverage. However, there are still several policies you’ll want to consider carrying. Here’s a closer look at the insurance you’re most likely to need for your...

There is a balance between just enough and too much when it comes to money in your savings account. Even though saving as much as you can while still paying your bills and enjoying life is a respectable goal, a savings account doesn’t often yield the highest return. If you’re wondering if you’re putting enough or too much into your savings...

At First Federal Bank, we understand that many first-time home buyers face an additional challenge of having non-existent credit history. It’s important to remember that while your credit score may be limited, it doesn’t mean you can’t be trusted to repay a loan. We offer alternative loan options with flexible credit requirements to help those...

Teaching your teen about money management and finances is an important step in their education. The lessons you teach now can help them grow into financially responsible adults with a bright and profitable future. Now is the time to help your teen build credit, and here a few ways to do it:

As you near your target retirement age, you’ll want to reduce your existing debt to give yourself financial freedom. This includes paying off your credit card balances, student loan debt, car loans, and your mortgage. If you’ve grown a hearty IRA, you’ll wonder if you can use those retirement funds early to knock out your debt. Is that a wise way...

As technology has evolved, so has the need for mobile video banking solutions in addition to in-branch and web solutions. Customers expect greater efficiency and flexibility from their financial institutions, especially after becoming accustomed to new virtual service options during the pandemic.

Bank Identification Number (BIN) fraud is a type of credit card fraud that involves the unauthorized use of a credit card that is not in the possession of the rightful owner. A BIN is the first six digits of a credit card number, and is used to identify the issuing bank.