Blog

Starting, growing, or expanding a business often requires access to capital. At SharePoint Credit Union, we understand that every business has unique financing needs. That's why we offer a variety of business loan options designed to help you achieve your goals. This guide will help you navigate the different loan types available and determine which is the best fit for your specific situation.

Scammers are constantly finding new ways to deceive people, often by impersonating trusted sources such as law enforcement, the IRS, utility companies, or even SharePoint Credit Union staff. They use phone calls, text messages, and emails to trick victims into providing personal information or making fraudulent payments. Stay vigilant and be cautious of unexpected communications—especially if they request payments through gift cards, wire transfers, or cryptocurrency.

Springtime means spring cleaning, and for many people, that means going through the large stacks of financial records and receipts that have accumulated over the years. Sorting out what to keep and what to shred can be a headache, so we’ve put together a handy guide on how long you should hang on to certain documents.

Pets can bring immeasurable joy to our lives, but it’s no secret that they also cost money. New pet owners frequently underestimate the lifetime cost of caring for a pet, which ranges from $20,000 to $55,000 for dogs and $15,000 to $45,000 for cats. But knowing the costs beforehand can help you assess whether you are financially ready to care for a pet. Keep in mind that the following costs are estimates based on information from the American Society for the Prevention of Cruelty to Animals and will vary depending on your specific pet.

Your debts have an important relationship with your credit score, but this relationship can be difficult to understand. It has many components, and maintaining the right balance of debt can be tricky without proper information. In this blog, we’ll break down the different kinds of debt, how debt affects your credit score, and how to manage your debts in order to achieve or maintain a good credit score.

Filing your tax return can feel overwhelming, but it doesn't have to. At SharePoint Credit Union, we care about your financial well-being, and that includes making tax season as stress-free as possible. In today’s tax prep guide, we’ll break down the filing process step-by-step, ensuring you stay organized and accurate.

Scams have become increasingly common in recent years, and seniors are targeted more than any other age group. Seniors often have greater financial assets and are less familiar with scams, making them an ideal target for scammers. But if you know the signs and can recognize the most common scams, you will be able to protect yourself and your money.

With rising home prices and mortgage rates, many homeowners are choosing to renovate their homes instead of moving. And while improving your current home may be more affordable than purchasing a new one, it will still cost you. But if you’ve paid a significant portion of your mortgage, paying for that remodel may be easier than you think.

Have you been dreaming of remodeling your home? Perhaps you’ve had ideas for a kitchen remodel for many years but simply haven’t been able to afford it. If you find yourself in need of funds for a large or unexpected expense, a personal loan may be just what you have been looking for. Keep reading to learn more about personal loans and how they can help you achieve your goals.

“The greatest wealth is health,” said the Roman poet Virgil. And although he coined the phrase over 2,000 years ago, it still holds wisdom for us today. Essentially, this proverb means that your physical and mental health are foundational for achieving life satisfaction and even financial success. Physical, mental, and financial well-being are intricately linked, influencing and impacting each other significantly. Physical ailments can strain your finances, financial stress can harm your mental health, and so on. Keep reading to explore how these aspects of your well-being connect and how to cultivate a balanced, healthy life.

Everyone craves genuine relationships; it’s part of what makes us human. Unfortunately, scammers know this all too well. And increasingly, scammers are using online dating platforms and social media to swindle people out of large sums of money. American consumers lost $1.14 billion to romance scams in 2023, with median losses per person of $2,000. Knowing the warning signs associated with these scams can help you protect yourself and your loved ones.

The beginning of the new year is the perfect time to reassess your spending habits and set yourself up for financial success. Follow these tips to help you get started on your budget for 2025.

Who says you need to break the bank to throw a festive holiday party? With a little creativity and planning, you can host a memorable event without overspending. Here are some tips to help you plan a budget-friendly holiday party:

With the holidays approaching, scammers are targeting online shoppers with a variety of devious strategies. These can include classic phishing scams, false advertisements, and even fake charities. Read this guide to educate yourself about the most common holiday shopping scams and how to protect yourself from them.

An auto loan is money you borrow to pay for a vehicle. But every auto loan is different, and comparing your options to find the best loan for you can save you thousands of dollars. In this blog, we’ll break down the variable components of an auto loan so that you know what to look for when applying for one.

Credit is the ability to borrow money for things you need now and pay for them later. It’s often necessary when purchasing something expensive, such as a car or house. But to secure credit, you need to build a positive credit score and credit history. That is, you need to prove that you are capable of paying off your debts before someone will entrust you with large amounts of credit. A landlord may check your credit score before allowing you to rent an apartment or other residential property. Other companies that charge you a monthly fee for their services, such as utility and insurance companies, may also check your credit before making an agreement with you. So, what’s the best way to build credit? By using a credit card.

According to the 2023 Consumer Sentinel Network Data Book published by the Federal Trade Commission (FTC), Americans reported losing more than $10 billion to scams in 2023. With scams on the rise, we at SharePoint Credit Union want to inform you about common phishing and smishing scams you may encounter, how to spot them, and how to protect yourself against them.

While a college education brings many benefits, there’s no denying how expensive it has become. With student loan debt in the United States totaling $1.753 trillion, it’s more important than ever for students to be wise with their money. Whether you’re starting your freshman year or getting ready to graduate in a few months, these financial tips for college students will help you manage your money well.

The back-to-school season can feel like a whirlwind of expenses. From new clothes and supplies to electronics and extracurricular activities, the costs can quickly add up. But fear not! With a little planning and smart budgeting, you can navigate this season without breaking the bank.

Loans. It’s a word we hear all the time. But what exactly does it mean? And how do they work? Let’s break it down.

You might think that your kids are too young to learn about money, or that you don’t have to worry about that until they’re older. But the earlier you start teaching your kids healthy financial habits, the more those lessons will sink in and guide them as they grow older. As a parent, you hold the most influence over your kids and have the greatest opportunity to shape them into financially responsible people.

In today’s fast-paced world, convenience is king. That’s why SharePoint Credit Union offers a suite of mobile and online banking tools designed to put you in control of your finances, anytime, anywhere. Whether you need to check your balance on the go, quickly transfer funds, or keep track of your credit and debit cards, our digital solutions empower you to manage your money with ease.

Welcome back, valued members of SharePoint Credit Union! We're thrilled to continue providing updates on our exciting merger with Star Choice Credit Union, which officially became final on January 4, 2024.

Have you been dreaming of a more beautiful and functional home? SharePoint Credit Union’s Home Equity Line of Credit (HELOC) can help you get there! We offer competitive rates, flexible terms, and convenient access to the funds you need for the projects you’ve been planning.

Financial scams are nothing new, but the use of artificial intelligence is making them more convincing and dangerous than ever before. Scammers use AI to impersonate trustworthy people and create false documents, such as invoices and IDs. Individuals should be aware of these common AI scams, how they work, and how to avoid falling prey to them.

Elder financial exploitation is a growing problem in the United States. Older Americans are targeted in person, over the phone, and online by individuals attempting to extort funds or take control of their finances. These abusers are often people close to the victim and purport to care about them. Fortunately, you can take steps to protect yourself and your loved ones. Keep reading to learn tips for seniors and their families on how to prevent elder financial exploitation.

Compound interest is when earned interest is reinvested into the principle, or balance, of an account. The reinvested interest grows the account balance, which makes it earn even more interest. The more interest you earn, the more your account balance grows, the more interest you earn, etc. It’s a compounding cycle of growing money. You are essentially earning interest on your interest. This makes it a powerful tool for exponentially growing your money in savings accounts and investments. However, compound interest can work against you when applied to debts such as loans and credit card payments.

Have you ever dreamt of a secure financial future but felt intimidated by the world of investing? You're not alone! Many myths and misconceptions can hold people back from taking control of their finances. Here at SharePoint Credit Union, we believe everyone deserves the opportunity to grow their wealth, regardless of income level. So, let's debunk some common investing myths and empower you to reach your financial goals!

As of March 4, 2024, a significant event occurred in the financial landscape of Minnesota – the legal merger of two esteemed credit unions, Star Choice Credit Union and  SharePoint Credit Union. While the term "legal merge" might sound complex, its implications are quite straightforward: the assets, liabilities, and capital of both entities will be combined to form a single, stronger credit union. But what does this merger mean for you, the member? Let's break it down.

Are you planning on or considering purchasing a new home? Whether you're a first-time home buyer or a longtime homeowner, the process of buying a home can be both thrilling and exhausting. From budgeting to finding the perfect neighborhood to finding a realtor, there are numerous factors to consider during the home-buying experience. To help you navigate your decision with confidence, here are a few tips for your home-buying process.

As winter bids farewell and spring emerges, it's the perfect time to give your vehicle the attention it deserves. The transition in weather comes with its own set of challenges, and ensuring your car is ready for the shift can save you both time and money. Let's dive into some essential spring maintenance tips to keep your vehicle running smoothly.

Embarking on a journey to explore new destinations is exciting, but ensuring the safety of your finances during travel is equally crucial. As your trusted financial partner, SharePoint Credit Union is here to guide you through essential security tips to help you travel with peace of mind.

Are you in the market for a new set of wheels? One of the first decisions you'll likely face is whether to buy a brand-new car or opt for a used one. Both options come with their own set of advantages and considerations, and understanding the differences can help you make the best choice for your needs and budget.

As the new year approaches, many of us embark on the tradition of setting resolutions—goals that aim to improve various aspects of our lives. Among the most common resolutions, financial goals hold a significant place. Whether it's aiming for savings milestones, clearing debts, or investing wisely, the new year offers a fresh start to recalibrate our financial strategies.

As we gear up for the fresh start that comes with a new year, it's an opportune time to reflect on our financial well-being and set the stage for a prosperous future. At SharePoint Credit Union, we understand the importance of solid financial planning. To help you embark on the new year with confidence, here's a comprehensive guide to preparing yourself financially:

>With the holiday season right around the corner, the excitement of Black Friday and Cyber Monday shopping is palpable. As enticing deals and discounts flood the online marketplace, it’s essential to prioritize safety and security while snagging those incredible bargains. At SharePoint Credit Union, we understand the significance of safe online shopping, and we’re here to guide you through the best practices for a secure shopping experience this festive season.

The winter season often brings unique financial challenges, from increased heating costs to holiday expenses. However, with the right strategies and a bit of planning, you can successfully manage your finances during the winter months without feeling the pinch. Continue reading our blog as we offer some key tips and strategies for navigating finances during the winter season.

Learning how to make smart choices with your money and following some easy financial literacy tips goes a long way in securing a stable and prosperous future for yourself and your family. Well-managed funds can make your goals more achievable and grant you peace of mind. Continue reading to explore tips for budgeting, saving, investing, and more!

Retirement is a major life milestone that everyone looks forward to. It's a time to relax, pursue your passions, and spend quality moments with loved ones. But ensuring a secure and comfortable retirement requires careful planning, saving, and investing throughout your working years. In this blog, we'll explore the key aspects of retirement security and how SharePoint Credit Union can be your financial compass to a worry-free future.

Long-term care is an emotional subject that many people tend to avoid discussing or planning for until it becomes an immediate concern. However, the need can arise unexpectedly due to a number of reasons. Financial planning for long-term care is an essential part of securing your future and ensuring that you receive the necessary support when you need it. Continue reading our blog as we explore the importance of financial planning for long-term care.

Back in 1933, a handful of Red Owl grocery store employees decided to pool together all their funds with one goal in mind: to make their money go further. Fast forward to the present; those funds and resilience helped lay the foundation for the best, local, trusted, not-for-profit, and member-owned financial cooperative in Minnesota today. SharePoint Credit Union has since expanded and grown exponentially and is now able to offer members and future members better rates on deposits and loans, and our profits are re-invested into our membership in the form of better rates and services. And this year, SharePoint Credit Union celebrates 90 years of service. Continue reading our blog as we take a look back at how we have been committed to providing the best services to our members throughout the decades.

When a newborn baby comes into the world, it is a life-altering experience that brings immense joy and responsibility. One of the most crucial aspects to consider when a child is born is your financial readiness and how to support your new baby. Raising a child entails various expenses, from prenatal care to education to toys, and everything in between. To ensure a smooth transition, thoughtful financial planning is essential. Continue reading our blog for some helpful tips on financial planning for a newborn.

As summer gracefully transitions into fall, it's time to put the finishing touches on those home improvement projects you've been working on. Not only will this ensure that your living space is ready to embrace the upcoming cozy season, but it will also give you a sense of accomplishment and a more comfortable environment to enjoy. Let's explore some practical tips for wrapping up your home projects before the fall season arrives.

In today's digital world, data privacy has become a critical concern for individuals and businesses alike. As a member-owned financial institution, SharePoint Credit Union takes data security and privacy seriously. We understand that our members entrust us with their sensitive financial information, and it is our responsibility to safeguard it diligently. In this blog post, we will explore the importance of data privacy, what you can do to protect yourself, and the proactive measures we take at SharePoint Credit Union to protect your valuable data.

Planning a wedding is an exciting and joyful time, but it can also be financially overwhelming and stressful. Establishing a well-thought-out budget is pivotal to avoiding overspending and ensuring a stress-free wedding planning process. Continue reading our blog as we will explore different ways to budget effectively during wedding planning.

Managing finances is a crucial aspect of running a small business. From keeping track of expenses to ensuring a steady cash flow, effective financial management plays a vital role in the success and growth of any enterprise. To simplify and optimize these processes, small businesses can turn to SharePoint Credit Union, a trusted partner that offers a range of comprehensive financial solutions. In this blog post, we will explore a variety of financial products and services provided by SharePoint CU that can empower small businesses, promote growth, and enhance their bottom line.

Your home is not only a place of comfort and security but also a valuable asset that can work for you financially. If you're looking for a flexible way to access funds for major expenses or investments, a Home Equity Line of Credit (HELOC) could be the solution. At SharePoint Credit Union, we understand the importance of making informed financial decisions. In this blog post, we'll explore what a HELOC is, its benefits, and how it can help you achieve your goals.

Maintaining good credit is a vital aspect of personal finance. It empowers you to achieve your financial goals and enjoy favorable borrowing terms. As a valued member of SharePoint Credit Union, we understand the importance of a strong credit profile. In this blog post, we will delve into the principles and strategies for maintaining good credit. By following these guidelines, you can safeguard your creditworthiness and pave the way for a brighter financial future.

Entering the real world after graduation can be both exhilarating and overwhelming. As recent graduates embark on their professional journeys, it's crucial to lay a strong foundation for their financial future. SharePoint Credit Union understands the unique challenges faced by graduates, and we are committed to supporting them with valuable advice and resources to help them navigate the world of financial planning. In this blog, we will explore essential tips for recent graduates and introduce the tools available on sharepointcu.com to assist them in budgeting and planning for their financial success.

Credit cards are a ubiquitous financial tool that have become an essential part of our lives. They offer a range of benefits, from providing a convenient way to make purchases to helping establish and improve credit. SharePoint Credit Union understands the value of credit cards and offers a variety of options to meet the needs of its members.

Building credit is an important aspect of achieving financial stability and success. A good credit score can open doors to better interest rates, lower insurance premiums, and even help you secure your dream home. However, building credit is not always an easy process, especially if you are starting from scratch. In this blog post, we will explore some tips and tricks for building credit, so you can achieve your financial goals and build a strong credit history.

Data privacy has become a major topic in today's digital age, and credit unions have a responsibility to safeguard their members' personal information. As a credit union, it's essential to maintain the trust and confidence of your members by ensuring their data and information is always protected. Continue reading to learn about the importance of data privacy and some additional tips to help keep your information secured.

For the average person, retiring early requires planning, saving, and investing—just at a faster pace and on a shortened timeline than those aiming for traditional retirement at age 60 or 65. Reaching financial independence—the more accurate and often preferred term for early retirement—means saving and investing more money earlier because you’ll need access to those funds sooner and for a longer time.

When first starting to invest, you’re going to make mistakes—and big ones. The biggest one might be not taking any risk. Taking a risk in your investments doesn’t mean making fast, ill-informed choices—it means investing in areas with potential for quick growth but a lot of uncertainty. The best time to take these risks is early, because when you’re starting to invest, you have decades until retirement, which may sound daunting, but it’s an advantage. Here’s why:

Tax season is just around the corner (and it’s never too early to start prepping!), so here are the answers to some of the most frequently asked tax questions.

If you are thinking about starting a new business there are a few things you need to know before you get started. The Michigan Association of CPAs provides the following list to help you.

Booking a vacation can be stressful. Or it can be an opportunity to do and see exactly what you want, when you want. Vacation types and options are as unique as the people who take them. To make sure you take the right kind of vacation for you, check out the list of pros and cons of booking a package vacation.

2023 is officially here. Let this be the year of new opportunities and beginnings. January will always be the perfect month to start planning new financial goals and creating new spending habits. Ensure this year you begin laying down the foundation for more positive financial outcomes. Continue reading our blog to learn some helpful tips to create new money habits in 2023.

When you have a number of different debts, attempting to pay them off can seem overwhelming. It’s easy to lose track of whether you are making any progress on paying it down: as one account decreases, another balloons out of control. In such a situation, it’s common to feel like you’re tossing money down a bottomless well. However, if you stay organized, energized and focused, you can work your way to freedom from debt. Here are some well-known strategies you can employ to keep yourself on track.

The new year is approaching! Make a resolution to pay yourself first and help set yourself up for a comfortable financial future. Here are some best practices to get your savings up to par.

When trying to decide which health and auto insurance plans are best for your current life situation and budget, it can be hard to look past the “sticker price” of the monthly premium. But the premium, the amount you pay every month for insurance coverage (even if you don’t use it), isn’t the whole story of what an insurance policy can cost you and if it’s the best one for you.

Mobile banking is nothing new, and SharePoint Credit Union is on the cutting edge, offering ATM locators, money transfers, deposits via photo, and more through our apps. But what if you want to go a step further in becoming a master of your money? You’re in luck. There’s an app—actually multiple apps!—for that.

According to a recent study, the average American carries four different credit cards in their wallet—in addition to debit cards and loyalty cards. This can make for over-stuffed wallets, cards easily lost at the bottom of a purse, and plenty of opportunities to misplace that loyalty card you need to get a free breakfast sandwich. Digital wallets offer a convenient, cashless, weightless solution to all of the plastic you’re toting around.

Hopefully you already agree that you should regularly be saving money. But where should you put it? You probably want to keep it safe, you probably want access to it for an emergency or when you’re ready to buy what you’re saving up for, and you probably would love for it to earn you more money without having to do anything.

Pretty soon the air will turn crisper and before we know it, winter will be here. Now is a good time to start planning for steps to winter-proof the inside of your house.

The path to becoming financially secure is not linear. Nor is there a one-sizefits-all approach. But to put your head in the sand over saving and investing, whether for retirement or some other goal, is perhaps the worst strategy of all.

Your credit score goes up when you show that you’re financially trustworthy. One day you pay off a loan and notice that your score drops. Shouldn’t your credit score have jumped up, instead? To understand what’s happening, take a look at how credit scores are calculated.

For most American households with pets, owners consider their pets members of their family. And this means spending a good chunk of the household budget on their care. In 2019, it was estimated that Americans spent more than $50 billion per year on their pets. Yet every year, millions of pets are surrendered because the owners did not have the resources or provisions in place to care for the animals when the owners died, became disabled, or could no longer afford them.

We are proud to announce the launch of a new app called, SharePoint Cards! This free, easy-to-use app allows our members to access and manage their cards and accounts— anywhere, any time. Read on to learn more about the many features and benefits of SharePoint Cards.

Parking in your garage can save you a lot of money. From repairs to cleaning, you’ll spend less. Not to mention your car is much safer in your garage than in the driveway.

At SharePoint Credit Union, we truly value our employees. They are the heartbeat of our local financial cooperative and provide a direct line of service to and communication with our members. Chief Financial Officer Julie Tanner has been part of the team for more than three decades. Learn more about her journey from teller to CFO as this longtime employee celebrates 33 years at SharePoint CU.

No matter the size, renovation projects can be challenging. And how to finance your plan is oftentimes the biggest hurdle. That’s where SharePoint Credit Union comes in, offering loans to help with projects big or small. As your helping hand for home improvements, we’re here to answer all your questions and provide guidance along your home equity loan journey.