Bellwether's Blog on life and money
Bellwether Community Credit Union is proud to announce the promotion of Nathan Saller to Executive Vice President and Chief Operating Officer. Mr. Saller's role will be to align company strategy with people and processes in order to drive execution and move Bellwether towards long-term growth.
"Nathan has been an integral part of our management team for over 20 years. Under his leadership in the areas of sales, marketing and lending the credit union has enjoyed strong growthin an environment of exceptional member service," said Michael L'Ecuyer, President and CEO of Bellwether. "As Executive Vice President and Chief Operating Officer Nathan's vision, creativity and commitment to excellence will have a positive impact on our employees, our members and our community for many years to come."
Mr. Saller joined Bellwether in 1997 first in a marketing role, then leading the company's retail banking and call center teams, and finally leading corporate strategy before being named COO. Prior to joining Bellwether, Mr. Saller began his career at Ford Motor Credit Company.
Mr. Saller received his Master of Business Administration from UNH Manchester and has a Bachelor of Business Administration from Evangel University. He is also a graduate of the American Bankers' Association Stonier Graduate School of Banking at the Wharton School of Business/University of Pennsylvania. He currently serves on the Board of Directors and as a member of the Executive Committee for the Greater Manchester Chamber of Commerce, as a member of the Board of Advisors and on the Development Committee for StayWorkPlayNH, and chairs the marketing committee for America's Credit Union Museum in Manchester.
A Home Equity Line of Credit is something a lot of people consider at some point. However,a lot of people have only limited understanding of what one actually is and why you should get one.
What is a Home Equity Line of Credit?
A Home Equity Line of Credit, or HELOC, is designed to give you immediate access to cash, namely in the equity you have built up in your home. A HELOC does not give you a lump sum, but rather the ability to draw on the line of credit for a period of time (usually ten years) up to a specified limit. What you choose to draw is then repaid over a longer period, usually twenty years. Like mortgages, HELOCs can have variable or fixed interest rates. There is generally a cancellation fee if you choose to open the line of credit and then not use it. It should not be confused with a home equity loan, which does give a lump sum that is then paid off over a set amount of time.
Loans help finance some of our biggest goals in life.
They can provide access to possibilities that we can’t afford upfront —possibilities like going to school, buying a home or starting a business (to name just a few).
A loan is also one of the biggest financial commitments we make in our lifetime. Rushing into a loan without fully understanding how it will affect your budget can create a very stressful situation that can quickly spiral out of control.Read More
home buying scams - things to watch out for when buying a home
If you are buying a home, then you're looking at making a huge purchase and a huge step in your life moving forward. So it is perhaps not surprising that home buyers are sometimes targeted by scammers. While some home buying scams are so obvious you wonder who falls for them, others have been known to catch even the otherwise savvy. These scams are especially dangerous if you are tired and stressed, as you are likely to be in the middle of the home buying process!
At Bellwether Community Credit Union, we want to keep you safe from any home buying scams, so we put together a list of common scams to look out for!
all about down payments
What is a Down Payment?
A down payment is a payment that you have to put down up front when purchasing an expensive good or service. A new house qualifies as an expensive good or service and therefore often requires a down payment up front to secure the good (the house) you are purchasing.
In some cases, these down payments are nonrefundable, even if the deal falls through. Moreover, the person making the purchase will have to get a loan (called a mortgage when purchasing a home) to cover the rest of the cost of the home at the time which they are purchasing it.