OneAZ Credit Union is excited to award $40,000 in grants to eight Flagstaff and Sedona-area non-profit organizations as part of its Community Impact Grant program. Each organization will receive $5,000 toward a program or initiative that supports one of OneAZ’s Five Pillars – Children’s Health, Food Banks, Financial Education, Veterans’ Interests and Local Youth Programs. “Our Community Impact Grant program is one of the most powerful ways we can change lives in Northern Arizona,” said … [Read more...] about OneAZ Awards Thousands to Flagstaff-Area Non-Profits
OneAZ Credit Union
Business Line of Credit: How It Works, When It is Useful
Need help managing cash flow? A business line of credit may be the right option for you. A business owner can borrow as needed up to the limit of the approved credit line, which can range from $10,000 to $1,000,000, depending on the type of business. Business lines of credit with lower credit limits are usually unsecured. This means collateral such as real estate or inventory is not required. How does a line of credit work? A line of credit works much like a credit card. You can draw funds … [Read more...] about Business Line of Credit: How It Works, When It is Useful
Supporting Communities through Non-Profit Organizations
Arizona is home to more than 20,000 non-profits that provide services to people across the entire state. Non-profits in Arizona have a significant impact in helping make the state a better place to live. When a business or individual gives back, they are contributing to the prosperity of the community. OneAZ is proud to announce that in 2021, the Community Foundation has pledged to award more than $290,000 to help Arizona non-profits. Non-profit organizations that offer programs … [Read more...] about Supporting Communities through Non-Profit Organizations
Four Ways to Support Local Businesses Affected by COVID-19
Locally owned businesses are facing unique challenges, likely unlike any they’ve encountered before. Even as Arizona gets back to business, many owners are finding that they need to quickly adapt to stay afloat in light of the COVID-19 pandemic. To keep Arizona’s economy strong, it’s more important than ever to support Arizona-run businesses. After all, locally owned businesses recirculate over 50% of their revenue within the local community. Here are four simple ways to keep supporting local … [Read more...] about Four Ways to Support Local Businesses Affected by COVID-19
How Can You Improve Your Credit Score?
Your credit score is used by financial institutions and lenders to determine how much money you may borrow for a loan or credit card. A higher credit score may mean lower interest rates and better credit limits, while a low score could mean you get denied for credit. What does your score mean, and how do lenders – and even landlords and employers – use it to determine their decision? Here’s how. Your credit score is calculated based on several financial factors. Credit scores are based on … [Read more...] about How Can You Improve Your Credit Score?
Navigating Small Business Lending Opportunities
Navigating as a small business owner can be daunting, especially during a pandemic. But with a little insight and planning, businesses can chart a smart course through uncertain times. Have lenders changed operations or lending procedures during the COVID-19 pandemic? Certainly, some lenders are stepping back and scrutinizing their practices right now. Typically, when you see a volatile market, commercial lenders are the first to step back so they can watch and see what happens with the … [Read more...] about Navigating Small Business Lending Opportunities
How to Prepare for a Possible Recession
Arizona’s economy has taken a hit during the COVID-19 pandemic. Restaurants, retailers and more shut their doors or dramatically altered operations. Workers were let go or furloughed, bringing Arizona’s unemployment rate up to 12.9% in April (compared to just 4.4% in February) according to the University of Arizona’s Economic and Business Research Center. With such massive changes, a recession may be coming our way. Here’s how to prepare. Build up emergency savings. If your emergency … [Read more...] about How to Prepare for a Possible Recession
Rural Business Banking: More Options Than Ever
When you keep money local throughout the spending cycle, it works with you to strengthen the dollar and enhance the local economy. Rural businesses have traditionally been limited to large national banks for their comprehensive business services. All that has changed in recent years, however, with credit unions evolving their business services and offering better rates to empower rural businesses. Here are a few things to consider when choosing the right financial institution for your … [Read more...] about Rural Business Banking: More Options Than Ever
Five Ways to Keep Your Money Local
In the age of two-day shipping and convenient megastores, it’s easy to think that opting for a national brand is the best use of your money. However, supporting Arizona businesses and organizations means your money stays local, through taxes, investments and more. That means that your hard-earned money, once spent, continues to work for you and improve the economy. Local First Arizona Executive Director Thomas Barr believes that every Arizonan can support the economy by spending money at … [Read more...] about Five Ways to Keep Your Money Local
What to Consider When Making a Balance Transfer
When you have high-interest credit card debt, making monthly payments can feel a lot like chipping away at a mountain with a hammer and chisel. If you’re paying the minimum each month, most of your money likely goes to the interest, meaning it can take years to make notable progress on the principal – the money you borrowed in the first place. If you’re carrying a balance of $5,000 on a credit card with a high 22.99 percent Annual Percentage Rate (APR) and paying $150 per month, over $95 is … [Read more...] about What to Consider When Making a Balance Transfer
