What Is an Open-End Loan?

December 23, 2022 by First Federal Bank

In most cases, when you apply for a loan, there’s a set end date. This allows the lender to determine things like interest rate and monthly payment and helps you determine your pay-off amount. But there is such a thing as an open-end loan, which gives you more flexibility if you might need to continue borrowing in the future. If you can obtain one...

Topics: Personal Banking, Small Business, Financial Education

A Guide on Endorsing a Check Properly and Securely

November 18, 2022 by First Federal Bank

Knowing how to endorse a check is one of the foundational financial skills you need to have. This simple process ensures money goes where it needs to and helps protect you against fraud.

Topics: Personal Banking, Financial Education

5 Worst Mistakes You Can Make Banking Online

October 26, 2022 by First Federal Bank

Online banking can take the hassle out of managing your money — but common mistakes can jeopardize your savings and endanger your accounts. Here are some tips to help you stay safe when managing your money through the web:

Topics: Personal Banking, Financial Education

How Do Deposits Work and Why Aren't Funds Immediately Available?

September 28, 2022 by First Federal Bank

When you deposit money into your account via cash or check, it can take some time before those funds are available to you. If you’ve ever wondered why, the explanation is quite simple.

Topics: Business Banking, Personal Banking

How to Effectively Build Credit with a Credit Card

September 21, 2022 by First Federal Bank

Building your credit is important if you want to secure an advantageous loan for a home, car, or other big-ticket item. If your credit score is lower than it should be to help you get the financial gains you want, there are several ways to bump it up. The following methods will help you increase your credit score when using a credit card:

Topics: Personal Banking, Financial Education

Is Using an App Safer Than Using a Browser for Banking Digitally?

September 14, 2022 by First Federal Bank

Online and mobile banking makes moving money, paying bills, and managing your financial well-being easier and more convenient. It’s certainly not without its risks, however, especially when it comes to identity theft and fraud. Is there a safer way to access your information between your financial institution’s website or mobile app? That largely...

Topics: Personal Banking, Financial Education

Should You Use a Home Equity Loan to Buy a Car?

August 10, 2022 by First Federal Bank

If you find yourself in need of a vehicle — but can’t secure an auto loan with favorable terms — you may be tempted to take out a home equity loan to fund your purchase. Like every financial decision, this choice can come with drawbacks that need to be considered. Here’s a look at what you need to know before you borrow against the value of your...

Topics: Personal Banking, Financial Education

What Is a Routing Number and Where is it Found?

July 29, 2022 by First Federal Bank

Every time you perform a financial transaction that involves your checking or savings account, you must provide a routing number and an account number. Both of these are mandatory in order for the operation to occur. To help you understand how these transactions work, here’s an explanation of what a routing number is and how it’s used.

Topics: Personal Banking, Financial Education

Ways To Organize Your Financial Accounts and Bills Online

July 27, 2022 by First Federal Bank

Want to get yourself on the path to financial stability and independence? Organization is the key. Getting your finances in order isn’t just smart — it’s easy to do thanks to a wide range of convenient online tools at your disposal.

Topics: Personal Banking, Financial Education

When Should You Use Your Debit Card for Purchases?

June 22, 2022 by First Federal Bank

Back when you were young and first opened a checking account, you probably used your debit card all the time, feeling the freedom of making purchases without needing to predict how much cash to have on hand.

Topics: Personal Banking, Financial Education

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