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If you think maintaining a clean credit history isn't that big a deal, take another look: There can be a spread of as much as six percentage points (even more) charged to consumers with excellent credit--often called the prime market--vs. those who have a tarnished history--sometimes called the subprime market. Why pay $17% when you can pay $12% for a good credit history?

MSN Autos reports that, "in the world of credit, 'subprime' is actually the rule rather than the exception…. The majority of car buyers--approximately 60%--are classified as subprime. In many cases, all it takes is a 60-day overdue payment to earn a subprime rating. Only 40% of consumers have a squeaky-clean credit rating."

Let's add a few more numbers to the analysis. Edmunds.com reports that the average car loan is about $24,000. And Datatrac reports, in CUNA's News Now, that credit unions charge an average one-and-one-half percentage points less for a new car loan, and charge an average two percentage points less for a used vehicle loan.

Even without crunching the numbers, two things are crystal clear. 1) It pays to protect your good credit record. 2) It pays to see the people at Pickens Federal Credit Union for your car loans.

Copyright 2008 Credit Union National Association Inc.

TIPS OF THE DAY: Debit Cards

Millions of consumers now enjoy the convenience of debit cards instead of checks. But when you use your debit card, save your sales slips and record all transactions in your share draft/checking account register as soon as possible. That way you'll avoid overspending and costly overdraft fees.

AND DON’T FORGET – in most cases signing as a credit usually saves you money! When signing for an item instead of using your pin the Credit Union saves fees, which you as a member means YOU are savings costs. Also in signing for purchases you are covered under the Visa warranty of minimizing your loss to $50.00 if your card is lost or stolen.

Your Credit Union Accounts Are Safe, Insured
There's no better time to be a credit union member. Virtually all credit unions are insured by the National Credit Union Share Insurance Fund (NCUSIF), which insures savings of at least up to $100,000 per account. Certain retirement accounts such as IRAs benefit from additional coverage of up to $250,000. For the fewer than 170 credit unions with private deposit insurance, their equity ratio typically is even higher than the federal fund, and state regulators oversee these privately insured credit unions.

FOR LOST OR STOLEN DEBIT CARDS CALL 1-800-554-8969

Also: If you suspect fraud on your debit card please visit the credit union immediately.

* NCUA Insured for $250,000 until 12/31/2013