Personal Resources

What are the fees for opening an IRA with USC Credit Union?

Investing & Retiring

USC Credit Union does not assess a fee for opening an Individual Retirement Account (IRA). If you currently do not have a membership account with USC Credit Union, you would be assessed a one-time $9 membership fee to open a Savings Account. You would then be able to open an IRA without any fee assessments.
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When is the best time to sell or buy a home?

Home Buying

In buying or selling anything, timing is everything. The challenge is to know when to buy and when to sell, so that you use the timing of the purchase or sale to your advantage. The housing market is seasonal, as most homeowners and renters move during the summer months, from June through August, while school […]
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What is a mortgage?

Home Buying

A mortgage is a loan that is used to buy a home. In return for the loan, you pay interest on the amount loaned. The lender also has first rights on your house in case you neglect to pay back the loan. A mortgage has three components: Amount (how many dollars you need to borrow) […]
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What is the difference between being ‘pre-qualified’ and ‘pre-approved’ for a loan?

Home Buying

Pre-qualification is an informal way to see how much you may be able to borrow. You can be “pre-qualified” over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Without any obligation, this helps you arrive at a ballpark figure of […]
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How does a lender determine how much home I can afford?

Home Buying

The primary factor is your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. Many lenders believe you can afford a house if its price is under 2½ times your household’s annual […]
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Tell me more about credit scores and credit reports.

Managing Credit & Debt

A credit report is a report that brings together information about an individual’s credit history, such as your total outstanding debt and if you repaid your debt on time. A credit report contains information on where you live, how you pay your bills, and whether you’ve been sued, arrested, or filed for bankruptcy. The three […]
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What can I do to improve my credit score?

Managing Credit & Debt

Pay all bills on time — Just one or two late payment(s) can adversely impact your score. Keep balances low on credit cards and other revolving credit products. Apply for and open new credit accounts only as needed. Review your credit report from the three major credit reporting agencies (Equifax, Experian, and TransUnion) and contact […]
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What is considered a good credit score?

Managing Credit & Debt

A credit score (ranging from 300 to 850) is the equivalent to a grade on your credit history report. Your credit score is used by lenders and credit card companies to determine the likelihood that you will repay your debt on time. The higher your credit score, the lower the assumed risk to lend you […]
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What does a low credit score mean?

Managing Credit & Debt

If your credit score is below desirable levels, your ability to get loans and credit at favorable rates will be diminished. Differences of up to 70 points across the three credit bureaus are not uncommon, and are typically the result of different information reported in your reports. Since each lender may use a different credit […]
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Under what circumstances can I check my credit report for free?

Managing Credit & Debt

You are entitled to a free credit report if: You believe you may be a victim of identity theft If you have been denied credit, employment, insurance or rental housing in the past 60 days due to your credit score If you receive welfare benefits, or If you are unemployed Click here to view a […]
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Resources

USC Credit Union has proudly served the Trojan family since 1973.

Resources

What are the fees for opening an IRA with USC Credit Union?

When is the best time to sell or buy a home?

What is a mortgage?

What is the difference between being ‘pre-qualified’ and ‘pre-approved’ for a loan?

How does a lender determine how much home I can afford?

Tell me more about credit scores and credit reports.

What can I do to improve my credit score?

What is considered a good credit score?

What does a low credit score mean?

Under what circumstances can I check my credit report for free?

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