Debt Consolidation vs Bankruptcy: Which is the better option?

It is extremely stressful when you’re struggling to afford your payments every month. It’s natural to want to wipe the slate clean and start fresh. There is more than one way to accomplish starting fresh with your finances. The two most common solutions people consider are debt consolidation and bankruptcy. Each option has their pros and cons, and depending upon your specific situation either bankruptcy or debt consolidation can be a reasonable option.

5 Emergency Solutions to Avoid a Foreclosure

Many families can face the prospect of a foreclosure in their lifetime due to a variety of financial situations. Luckily, there are several ways one can avoid a foreclosure, even if a foreclosure seems imminent. Here are five emergency solutions to avoid a foreclosure.

85 Acts of Service for 85 Years in the Community

First Alliance Credit Union was the first credit union formed in Rochester, Minnesota. We began in 1932, during the Great Depression, as a community resource for those in need of a trustworthy financial institution. We strive every day to stay true to this founding philosophy no matter how much we grow. This year marks our 85th Anniversary as Rochester's original credit union. To celebrate this milestone, we have pledged to complete 85 Acts of Service! 

Should You Get Pet Insurance?

Is pet insurance worth the cost? This is something I used to think was a completely unnecessary expense. It was just one more way insurance companies were trying to get a slice of my hard earned income. Then my shepherd mix, Moki, fell down our basement stairs breaking her back in two places. I had to rush her up to the University of Minnesota for emergency surgery, where I was faced with the heart wrenching decision pay $5,000 in full right then and there or put her to sleep to end her pain.

3 Sneaky Hidden Costs of Buying a Used Vehicle

Buying a used vehicle is a great way to lower the initial purchase price of your car and reduce or even eliminate your monthly payments. At the same time, though, there are costs associated with used cars that don't come into play with brand-new vehicles. Here are three costs you should keep in mind when buying a used vehicle.

Am I Bankrupt? How to Tell if Your Financial Situation is Fatal

If you are struggling to pay your bills, it may be a good idea to look into bankruptcy. Generally speaking, this is the best option for someone who spends more than 50 percent of their income towards bills and won't pay off their balances within five years. Before filing for bankruptcy, you should talk to a lawyer or financial adviser to look over all of your options.

Business Credit Cards vs Business Lines of Credit

Many businesses, no matter how big or small, sometimes face cash flow challenges. Whether it is a small business getting started or one that has been in business for some time, having cash at your disposal is an important factor that determines whether a business can accomplish its goals or not.

The First-Time Home Buyer's Guide to Mortgages, Titles, and Escrows

For the first-time home-buyer, the process to purchase a home is not an easy one. The process involves the following essential factors: price, affordability, size of the house, and location. The focus of this article is to discuss price and affordability and to look at the financial aspects of home buying.

4 Financial Facts About Getting in a Car Wreck

Being involved in a car accident can be a terrifying thing, but you have to worry about more than just the emotional and mental trauma that can go along with it. The truth is car accidents can be costly and can affect you financially in more ways than one. These are a few ways that a car accident can hit your wallet.

First Alliance Credit Union Joins Paws and Claws Humane Society’s Guardian Angel Program

Rochester, MN - First Alliance Credit Union is the first business to ever participate in the Paws and Claws Humane Society’s Guardian Angel Program by sponsoring pets available for adoption. The credit union is covering the adoption fees for several pets currently available at Paws and Claws Humane Society.