December 2021 Newsletter
As 2021 draws to a close, it’s a great time to evaluate your financial goals and plan for your financial needs. Whether you’re looking to fund a well-deserved vacation, wanting to do some upgrades on your home, or figuring out a plan to pay off higher-interest loans or credit cards, the first step is understanding your options. Bellco offers a number of resources and products that can help you achieve your financial goals, including our Signature Loan, which is an unsecured personal loan (meaning that you don’t have to back it with some form of collateral) that comes with numerous benefits.
Low fixed interest rate—Well-qualified members will be charged an interest rate for the Signature Loan that’s as low as 4.99% APR*, which is one of the lowest you’ll find for an unsecured loan. For reference, credit cards, which are another form of unsecured loan, typically average interest rates around 16% and can even go higher, with some even over 30%. Simply put, if you have a $10,000 loan at 4.99% APR, you will pay around $500 in interest in your first year. If your interest rate for a $10,000 loan is 16%, you’ll pay about $1,600 in interest; if it’s 27%, you’ll pay $2,700 in interest. Benefits to a lower interest rate can include:
• Potential for paying off the loan faster
• Less overall spend toward the loan
• Lower monthly payments over the course of the loan
Debt consolidation—Having many credit cards or other debts or loans means having to juggle multiple payments each month. If you qualify, your Signature Loan could pay off those debts, leaving you with just one payment each month. Reducing the number of bills you have can help you avoid late or missed payments, which can improve your credit score and keep you from wasting money on late fees.
Flexibility—With the Signature Loan, you can choose your repayment term—a shorter term will mean larger monthly payments but a quicker pay off and less paid toward interest; a longer term will mean more manageable monthly payments as you decrease the debt but a longer pay off period and more paid toward interest.
Quick and easy—You can apply for the Signature Loan online or by visiting one of our branches. Either way, you could enjoy same-day funding, which will mean money in hand to meet your financial goals for the new year right away. Plus, you won’t have to pay closing costs, which means less worry, less hassle, and less overall debt.
If you’re looking to start 2022 on the right financial footing, why not get help with a tool that can give you convenience, lower interest, and flexibility? Check out the Bellco Signature Loan today, and be sure to contact a loan specialist at 1-800-BELLCO-1 if you have any questions.
*All applications are subject to credit approval. Membership eligibility is required. For example, a new Signature loan of $5,000 for 60 months at 4.99% APR will have a monthly payment of $94.33. Advertised rate is subject to change without notice.
Sure, Colorado is known worldwide for its ski resorts, but taking advantage of them frequently can get a bit expensive, especially for a family. Luckily our state also offers a variety of free events and happenings that families can enjoy in December. In the Denver area alone, you can check out:
- Ice skating. Head to the 16th Street Mall to find the Southwest Rink at Skyline Park, where you can take a few turns and enjoy pure winter fun. If you have your own skates, the experience is free.
- First Friday Art Walks. Available year-round (if you want to experience them in a warmer time), this monthly celebration of local artists showcases cultural performances, art, and music in Denver’s Art District on Santa Fe.
- Denver Story Trek. Colorado is rich in history and stories, and you can tap in to some of Denver’s best through this interactive, self-guided tour series. You can bike, walk, or drive your selected route, which will teach you about various homes, museums, and other landmarks throughout the metro area.
- Colorado Sports Hall of Fame Museum. Ready to warm up a little while celebrating all kinds of sports and athletes? Go to the west side of Empower Field at Mile High to gain free entry to the museum and learn about great moments in Colorado sports, the history of the Denver Broncos franchise, Special Olympics in Colorado, women in sports, and more.
- Festive open-air shopping. The Cherry Creek Holiday Market showcases local vendors along with free live music, lots of unique gift options, and a fun holiday atmosphere. Bring the whole family to walk the outdoor venue and get in the spirit of the holidays.
No matter your focus, Colorado offers plenty of free family fun, so get out there and enjoy your December adventures!
As a not-for-profit, Colorado-based financial cooperative, Bellco is committed to providing tools and resources to help our members and the community feel financially empowered. One way we've done this is by collaborating with Denver 7 to provide communities across Colorado with helpful financial tips.
While fall is typically a great time to buy a new car, shipping issues and backlogs on key parts made this year more of a seller’s market. In a recent Denver7 segment, reporter Eric Lupher shared some tips on navigating the current car-buying scene. You can view the segment below:
For more resources, options, and steps to help guide you through the process of selecting and buying a car, you can visit our MoneySmarts page.
By Automotive Avenues
Automotive Avenues is not only Bellco’s preferred dealership for buying and selling vehicles; we also have a rock star service team to help with all your maintenance needs! We provide a $49.95 Winter Protection Inspection, which includes: load test & battery inspection, test antifreeze, inspect tires, hoses, belts, and wipers! Also includes topping off of all fluids and a full AAA safety inspection!
Oh, how quickly we forget. Summer and early fall in Colorado are usually warm, dry, and well... down-right nice. But as we’ve already seen in recent years, snow and ice can sneak up on us at any time. We then find ourselves scrambling for snow brushes, ice scrapers, and making sure our heated seats work! Those are important steps in preparing your car for winter, but we have a few additional tidbits that are easy and will make a big difference once the snow starts to fall.
Make a Winter “Emergency” Kit. One of the simplest and most beneficial ways to make sure you are prepared for your winter drive is to put together an emergency kit. Typical kits would include warm blankets, boots, a flashlight, extra gloves, snacks like granola bars and beef jerky, road flares, a first aid kit, an ice scraper, and even a small, foldable shovel. You can usually fit all of this into a large, plastic bin and then just stash it in the trunk. You might be really glad you did!
Check your Tires. Whether you have a car with all-wheel drive, front-wheel drive, or even rear-wheel drive, the quality of your tires is very important. Check the depth of your tires and make sure there is enough tread to provide good traction in snowy conditions. One simple way to do this is by using a quarter. Simply take the quarter with George Washington’s head facing downward, and slide it into one of your tire grooves. If you can see the top of George’s head, then your tires are worn below 4/32nds of an inch and probably need to be replaced.
Check your Antifreeze Levels. Know why your engine doesn’t freeze up when the temperatures drop below freezing? It’s called antifreeze (what a great name). Check your antifreeze levels before it begins to get below freezing at night. Your car’s manual should show you exactly where to add antifreeze and how much to add. This one is a must!
Or, if you want to make things easy on yourself, just bring your car into Auto Aves and we’ll make sure your car is ready for winter. And then, bring on the snow!