2006 June 17 | Wheatworks Blog: Financial Matters

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How Healthy is Your Bank?

6/17/2006, 7:34 am

Have you ever wondered about the health of your bank? My local community bank and the one-office credit union I use are both 4 star institutions. The BIG bank that holds what’s left of my mortgage, gets only 3 1/2 out of 5 stars.

Here’s how I check on the financial status of the banks and credit unions I use.

Visit the BauerFinancial web site and look up your bank. BauerFinancial has analyzed and reported on the status of banks and credit unions since the early 1980’s.

In addition to the star rating, for $10 you can get a detailed report on the financial status of a bank or credit union. Additional reports are only $4 each. If you want to see what you’ll get for your money, BauerFinancial provides a free sample report for you to review before you purchase a specific bank’s report.

It’s good information and can be an eye-opener if you’re banking with a 1 star!

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Category: Financial Tips, Information | 1 Comment

FoxNews.com has a couple of online financial calculators that help you determine if you have too much debt.

6/17/2006, 7:20 am

FoxNews.com has nice set of online calculators that help you determine if you have too much debt.

The first calculator analyzes your particular financial situation (anonymously) and then provides simple recommendations and an overall analysis (”Fair”, “Good”, etc.)

The second calculator uses 2002 results from SRI Consulting Business Intelligence (which surveys 3,800 households every other year), as the standard. You choose your age range and income. The calculator displays the typical debt scenario for your particular income and age.

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