Latest News

PCP Balloon Payment Due?

If you are one of the thousands of families that took out a PCP car finance option a few years ago, the sting in the tail for what seemed a great deal is the Balloon Payment (a.k.a. Guaranteed Minimum Future Value or GMFV).

Unless you roll over to a new PCP arrangement, the balloon payment is unavoidable.

For some Credit Union members, if they have made arrangements to pay off the balloon payments, their financial stress should remain under control.

Love Your Money this Valentine's Day

February can be a challenging month. After the long, dreary month of January has passed and with kids entering mid-term break, the temptation can be to back off your financial goals. After all, it’s the month where advertisers kick into full marketing overdrive to separate you from your cash with their savvy Valentines-themed marketing drives because they know how tempting it can be to have a little fun. Who could blame you. January was such a long month after all, those grey days of post-Christmas austerity, who needs that?


If you have ever used a credit card to make a purchase, you might also know that credit cards are loans. While they may not feel like your standard loan, where you make a set monthly repayment on a set amount borrowed, they are loans nonetheless.

But credit cards differ from standard loans in one important way; the interest charged ‘compounds’. In other words, when you do not pay off the credit card balance in full each month, you will pay interest on top of interest. So easy to charge.