Tips and stories that make up your credit union.
Routing Number: 282075028
February 6, 2019
The Christmas holidays are about giving. Giving love, giving charity and goodwill. And ultimately, the giving of gifts. The latter of which tends to leave a lasting impression on our credit-card balances.
November and December annually deliver the “holiday five or 10”; the new year bids us welcome with a fresh, heaping helping of holiday debt.
The National Retail Federation estimated that the average American consumer would spend roughly $1,000 on Christmas-related items in 2018. This includes gifts, food and holiday clothes, and represents an increase of 4.1 percent over the previous year. And NerdWallet’s 2018 holiday shopping report is illuminating: Christmas spending up 18 percent while 28 percent of consumers entered the 2018 holiday season still saddled with old holiday debt.
Fortunately, Christmas represents hope as well. Those mired in holiday debt have options, and Arkansas Federal provides them for members whose debt was enhanced by that financial “holiday five or 10.”
Arkansas Federal financial consultants can explore money-saving options, such as refinancing a home or car, that could free up extra cash to pay down debt. A consolidation loan could convert multiple monthly payments on high-interest cards into a single, lower monthly payment at a more competitive rate.
And for a limited time, Arkansas Federal is offering a great introductory rate on home-equity loans. Use the equity in your own home to help pay down credit-card debt. Members can borrow up to 95 percent of their home’s value. Home-equity loans represent a great option for members looking for ways to get a handle on debt.
Not a member? No problem. Arkansas Federal membership is available to all Arkansans, and becoming a member is simple and easy.
Don’t let holiday debt keep you down. Just like those extra holiday pounds, your holiday debt can be shed. Arkansas Federal could be your financial treadmill.