Financial Literacy
We’re laying out everything we know to make sure you’re confident to make informed, effective and smart decisions about your finances.
Become a New Neighbour Today
HOW TO PLAN AND BUDGET FOR YOUR FIRST HOME
Are you dreaming of owning your first home? Taking the leap into homeownership may seem like an intimidating endeavor, but fear not! With careful planning and smart financial strategies, you can turn your dream of buying your own home into a reality. In this blog, we will guide you through essential tips on how to effectively save for your first home purchase. So, let's dive in and discover the path to achieving your goal!
HOW TO IMPROVE YOUR CREDIT SCORE
Are you an adult living in Canada who wants to improve your credit score? You're not alone! A good credit score is essential for financial stability and can open doors to opportunities like getting approved for loans or securing housing. Improving your credit score is a gradual process that requires consistency and responsible credit management.
UNDERSTANDING THE FINANCIAL LITERACY GAP WITH INDIGENOUS COMMUNITIES
Financial literacy (understanding concepts such as budgeting, saving, investing, and understanding credit) is an essential skill that empowers individuals to make informed and responsible financial decisions. Unfortunately, not every Canadian has equal access to financial literacy resources and support, particularly among minority and BIPOC (Black, Indigenous, and People of Color) communities.
BANK OF CANADA RATE HIKES EXPLAINED
In July of this year, The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. This comes only weeks after its early June decision to raise it to 4.75%. Today, we'll be talking about this recent rate hike and how it might affect your finances. So, let's dive right in!
ON THE WAY TO WEALTH WITH ASSETS - HOW TO BUILD YOUR FINANCIAL PORTFOLIO
If you're looking to secure your financial future, building a solid portfolio is a crucial step in achieving your goals. An investment asset is a financial instrument that individuals obtain with the intention of generating income, capital appreciation, or both over time.
STARTING A SMALL BUSINESS THE DOS AND DON'TS
YNCU is dedicated to supporting small businesses in our communities and we want to see you succeed in making your lifelong dreams a reality. We’ve put together a few dos and don’ts to help guide you towards starting a small business.
THINGS TO KNOW BEFORE ENTERING THE HOUSING MARKET
At YNCU, we know entering the housing market is a daunting task. School does not prepare you for the financial risk you take when purchasing a home for the first time. We want to share with you some tips to help you enter the housing market, responsibly.
EMPOWER YOUR FINANCIAL FUTURE WITH A CREDIT UNION
October 20th was Credit Union Day! To honour this day we wanted to share with you some background on credit unions and how YNCU makes an impact on the lives of our members.
DEBUNKING CONTROVERSIAL MONEY MYTHS
At YNCU, we know that you take your finances seriously. You want to protect your financial assets as best as you can. There are a lot of widely held ideas about money that are simply not true. We want to help you achieve your financial goals by debunking some of the most controversial money myths.
RATE HIKES/COST OF LIVING - SURVIVAL TIPS FOR MANAGING RAPID PRICE INCREASE AND DEFLATION
It is no secret that the cost of living has drastically gone up in the last few years. Prices have gone up in every aspect from groceries to the skyrocketing price of gas to interest rate hikes. This has caused a lot of alarm and concern for Canadians who are struggling to keep themselves financially stable. At YNCU, we know that you may be looking for advice on how to manage your money during times of rising costs.
SHARING RESOURCES: EXPLORING RACIAL INEQUALITY & MONEY
Wealth is about more than a paycheck — it refers to the sum of financial assets and physical possessions owned by an individual or family. Less wealth means more challenges with homeownership, investment opportunities, student loans or the ability to pass accumulated wealth down to future generations.
SAVING SMART FOR ALL STAGES OF LIFE
There are plenty of major milestones in life that we can look forward to. Whether it’s graduating from post-secondary education, buying a house, getting married or retiring after years of a fulfilling career, we all need to plan accordingly. All of these major steps in life often require some financial planning to ensure you can effectively fund your dreams and maintain your financial health.
PROTECTING YOURSELF FROM COMMON FINANCIAL SCAMS
Being a victim of financial fraud can be devastating and is on the rise. With fraudsters finding new ways to target vulnerable populations, via phone, email or cybersecurity attacks, we need to be more diligent than ever before when on the lookout for common financial scams.
THE TOP FINANCIAL TOOLS OUR ADVISORS ARE THANKFUL FOR THIS YEAR
Managing your money, whether it be saving for a dream vacation, your first home or investing for the future, can seem daunting at first. Luckily, personal finance tools such as apps, spreadsheets and software can take some of the guesswork out of managing your money on a daily basis.
2023 Your Neighbourhood Credit Union Limited. All rights reserved.
Your Neighbourhood Credit Union (YNCU) is a licensed credit union operating in, and under the laws of, the province of Ontario. Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through the Financial Services Regulatory Authority (FSRA) .
