Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased.

The year was 1935, and Maurine Grammer was an educator at the original Albuquerque High School at Central and Broadway. Having heard that the U.S. Government had made it possible for many groups to form credit unions, she and seven other school officials applied for a credit union charter. And on Feb. 29, 1936, the Albuquerque Public Schools Federal Credit Union (now Nusenda Credit Union) was founded to “serve the employees of APS, members of their immediate families, and any associations of such employees.”

Maybe you have a system in place for which card to use when, or maybe you use one type all the time. But do you know the difference and when it is more beneficial to use one over the other?

Whether it is an auto loan, a mortgage, a student loan, credit cards, or loans from family or friends, having some sort of financial debt is a reality for most people. However, with some advance planning and resourceful thinking, it doesn’t need to be a point of excessive stress. In fact, some types of loans are helpful to your overall financial well-being – if they’re paid on time and are used sensibly.

According to the U.S. Department of Labor, while the average American spends 20 years in retirement, fewer than half have calculated how much they need to save for the golden years. Retirement is expensive. Experts estimate that you will need at least 70 percent of your pre-retirement income (for lower earners, it could be up to 90 percent) to maintain your standard of living when you stop working.

The holiday season is here, and now is the perfect time to get started on your gift planning and shopping. But before you shop in-person or get online with your credit card in hand, it’s essential to set a plan and create a realistic budget. It’s easy to overspend with all of the excitement, but spending too much now could mean months of bills and high credit card charges in the new year.

Buying a home is a major commitment. It’s a bit like, well, getting married: you’ve got to be ready and you have to find the “right one.” Like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care and attention.

Identity theft is a crime with many faces: from the thief who skims your card info at the ATM, to the hacker who assumes your persona and opens accounts in your name. Unfortunately, rectifying identity theft damage can be like untangling a wet knot. You can do it — but it will require patience and perseverance.

Thinking about exploring New Mexico? Few places on earth offer the rich history and cultural diversity found in our home state. As your locally owned and operated credit union, we partner with many fellow local businesses through a variety of programs. We invite you to visit and support these businesses within COVID-19 public safety guidelines – or online!