Today’s mortgage rates, thanks in large part to the COVID-19 pandemic, reached an all-time low average of 3.15% for 30-year fixed-rates and 2.62% for 15-year fixed-rates in May. Between generous government stimulus checks and a rush to save more money as the coronavirus continues to linger, today’s economic environment may present a prime opportunity for homeowners interested in refinancing to secure favorable terms.
Understanding interest is crucial when investing your money. Given the option to earn simple or compound interest, you should always choose the latter. To understand compound interest, you first need to have a good understanding of simple interest. Here at First United Bank & Trust, we strive to make wealth management as easy as possible, so we’ve put together a helpful guide that clearly outlines how compound interest works.
Investing is like life: nothing ventured, nothing gained.If you're planning to buy a home, you probably have good reasons for your decision. It may be that you share the feeling that owning your own home is a key part of the American dream. But there are also...
In a perfect world, you would find a house you loved, make a reasonable offer, and head to the bank to sign your loan papers. For many buyers, though, buying a home turns into a nerve-racking process. This can easily happen to you if you don’t educate yourself on the steps involved in buying a home.
Committing yourself to a strategy is the key to getting out of credit card debt fast. When you stick to your goal, your commitment translates into an overarching lifestyle where you no longer have to concern yourself with tackling your credit card payments every month.
Loans give us the ability to pay for things we otherwise could never afford. Can you imagine if you couldn’t get a loan for a car or a house? If mortgages weren’t a thing, most Americans wouldn’t ever own a home. Loans and mortgages are definitely good, but only when you use them responsibly.
It’s equally as important to learn about investment mistakes as it is to bone up on investment tips and tricks. Whether you’re looking for good investments for beginners or you’re a seasoned investor who has doubled your earnings in the past year, staying up-to-date with the latest investment missteps is key to solidifying your wealth management.
A vehicle is a major investment. Even used cars have an average price of $20,000 and if you finance, your monthly payments could be $400 or more. So, before you begin shopping for a new car, consider these 10-best car-buying tips.
With automobile insurance mandatory in most states, you know you have to buy it. Sorting through the advertising jargon to discover what is the best deal for you is time-consuming and confusing. Here are five quick tips you can use to save money and protect yourself in case you are in a wreck.
For some, saving money comes naturally. They add a certain amount of their paycheck every month without fail. Others are not so dedicated. This could be for several reasons. No matter what our saving or spending style is you can find an online app that will help you improve your finances.
Whether you make $150,000 or $40,000 a year, you work hard for your money. A lot of people think the more money you make, the more you can save. But at the end of the day, your ability to save all depends on your expenses. We’ve scoured high and low for some of the best money-saving tips for those living on a typical salary.
Some consumers still love going into a branch and interacting with their local bankers. Nothing can replace great one-on-one customer service. But what about those days when you are delayed at work and you can’t get to your bank to deposit a check? Or you are on vacation and you need to check your account balance?
Things break. Emergencies happen. And if you are like many Americans, you may not have the extra cash on hand to pay for these expenses. Homeowners generally have two options for getting the money they need — a home equity line of credit or a home equity loan.
Paying for college can be a stressful process and the choices you make today can impact you and your family while in school and beyond graduation.
Weddings can rack up a lot of bills. Case in point, the average American wedding cost brides and grooms $44,105 in 2018. To budget for a wedding ceremony and a reception, you have to take into account all expenses…
Moving is stressful, no doubt about it. To ensure your next move goes as smoothly as possible, it’s helpful to create a budget—and stick to it. With your finances under control, you can focus your attention on getting to your new place as quickly as possible and settling in.
Having an emergency fund can save you from having to borrow money or use credit cards if an unexpected expense arises. But according to the Federal Reserve, four out of 10 Americans do not have the savings to cover a $400 emergency.
Congratulations to Jennifer Kreighbaum, Assistant Compliance Officer & Community Reinvestment Officer, on earning the Certified Anti-Money Laundering and Fraud Professional (CAFP) designation! This designation demonstrates a person’s ability to assess,...
Carissa L. Rodeheaver, Chairman of the Board, President and Chief Executive Officer at First United, along with R. L. Fisher, Senior Vice President and Chief Revenue Officer announce the addition of Alan D. Mullendore as Washington County Market President, overseeing...
In recognition of America Saves Week Feb. 25 – Mar. 2, First United Bank & Trust is offering tips to help customers assess and improve their saving strategy. “America Saves Week is an opportunity to step back and ask ourselves if we’re doing all we can to meet our...
Hagerstown, MD - First United Bank & Trust has announced the opening of a new, and much anticipated, community office at 19405 Emerald Square, Suite 1000 in Hagerstown, Maryland. First United Bank & Trust has been a member of the Washington County community...
First United Bank & Trust is pleased to announce the renovations to our Grantsville Community Office are now complete. This branch will now provide customers with all the latest technologies and conveniences to create a complete banking experience. In...
Recently, Forbes partnered with the market research firm Statista to produce their first-ever look at the Best-In-State Banks and Credit Unions. More than 25,000 customers in the U.S. were surveyed for their opinions on their current and former banking relationships....
First United Bank & Trust announces the launch of an entirely new checking account lineup. These unique accounts are aimed at simplifying customers’ financial lives while also providing additional benefits, savings and protections. Beginning June 4th, two new...
The enormity of the task that is saving for retirement is often seen as a daunting one by even the most financially organized workers. They will likely need to save into the hundreds of thousands of dollars over the course of decades, and anyone who has suffered...
When it comes to retirement planning, the general rule is that you can never have enough savings. Certainly, financial advisors would say that they'd rather see their clients save more than they might have expected to need, rather than finding out too late that...
In recent years, a large and growing number of baby boomers has reached retirement age, and a majority are choosing to stop working. But younger Americans these days seem to be less certain that this kind of option is even going to be available to them when they...
Everyone needs to be able to manage their finances well, regardless of how much money they make.
Online banking has become more or less ubiquitous among consumers nationwide in recent years, despite some trepidation early on that security would be an ongoing concern.
Since the recession hit, the concept of saving for retirement has been at the forefront of many people’s financial worries.
In general, small business owners in the U.S. tend to be a fairly optimistic about their future chances for success even in the darkest of times.
While many polls over the course of the year illustrate how optimistic small business owners across the country may be about their chances for future success, one of the truest measures of this anecdotal data comes in the form of how they move financially.
Nationwide, millions of small business owners might know full well that their companies face cyber security threats on a regular basis, but often take the attitude of, “This can’t happen to my company.”
With new processes being implemented throughout the supply chain, you may need to update the way your manage your cash flow.
The upcoming switch ICD-10 will require hospitals to revise their financial plans.
If you borrow money, you’re going to have to pay it all back eventually. Learning how to manage your finances from the start will ensure you don’t fall further into debt.
You’ll contribute your own finances to start, but once you’ve set up shop, it’s crucial to keep your personal and business banking accounts separate.
No matter who works for you or where you’re located, you’re going to have to pay your staff and that includes yourself. However, how much do you make?
To counteract all the payments you’ll have, you’ll need to set price points that are low enough to not drive potential customers away but high enough to turn a profit.
There are plenty of options for you to choose from, and with the right research, you’ll be able to find the one that works best for you.
When the minuses start piling up and the pluses disappear in your business banking account, it’s time to reevaluate your spending.
In today’s technological world, all of our information is stored online or on a card. By taking proper precautions, you can protect yourself from fraud.
April 15 is quickly approaching, and that means so is your deadline for filing taxes.
Whether you’re running a business or your own personal finances, how you handle your money can impact your spending and savings.
On the heels of the State of the Union address, a portion of which focused on raising the minimum wage, protesters in Oregon took to the picket lines to protest why the state has yet to raise the wage scale.
The vast majority of small business owners love the flexibility self-employment provides, but they also despise the bookkeeping work that comes with it.
Sometimes small business owners turn to independent contractors for projects, which can have its benefits. However, it is important to make sure you’re informed about hiring contractors before doing so.
Running a small business can be pretty tough, and small business owners who trip up tend to make a few common mistakes.
Securing an investment in your small business can be a huge boon to growth and provide you with a trove of resources that you never had before.
First-time small business owners shouldn’t be expected to be experts in financial planning. If everyone who began a new venture had a thorough understanding of their finances, the success rate for neophyte businesses would probably be much higher.