Education Articles

Have a Plan Before Flooding, Other Disasters Strike

Early fall is a time to annually promote family and community disaster planning. Every autumn, the Federal Emergency Management Agency (FEMA) stresses the importance of preparing for unexpected disasters and emergencies with National Preparedness Month. In 2022, the theme was “ A Lasting Legacy ," the latest reminder for all Americans to stop an...

Estimating Your Retirement Income Needs

Retirement may be decades away, but it's never too early to start planning. Where do you begin? Start by estimating how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. Use your current income as ...

Plan For Retirement, Especially In Your 20s

If you’re in your 20s, retirement may seem too far off to worry about. Besides, you probably have more immediate concerns, like student loans, car loans, and credit card debt. And if you’re in your 30s or 40s, you may be more focused on buying a house and raising children than on retirement planning. But the sooner you get into the habit of savi...

After Recent Decline, CDs Rebound

With the highest rates in years, CDs are well worth a look. Not only are SELCO’s certificate rates among the best anywhere, if our rates rise within 30 days, we'll automatically increase yours. Rewind to the early 1980s. The United States was feeling the sting of two full-blown recessions . Inflation rates hovered around 10–13% and interest rate...

What Does It Mean to Be a SELCO Member?

Everyone deserves to Live a Good Life—and could use someone who’s looking out for them along the way. Whatever “a good life” means to you, we’re committed to helping you get there. SELCO is a place where everyone belongs and where you have a true advocate and partner ready to help you set and reach your financial goals. Simply put, it’s a place...

Buying Your First Home: A Realistic Guide

To buy or not to buy? That is the question facing many prospective homeowners in today’s topsy-turvy housing market. Buying a home at any point can feel intimidating. There’s just so much to consider—finding a home that meets your needs, finding the right agent, finding the right mortgage professional, qualifying for a mortgage, signing so many...

Your Personal Boat Buying Guide

Ah, the freedom of the open water. Feel the breeze coming off the Pacific Ocean or one of the Pacific Northwest’s many lakes and rivers as you put the throttle down or point the sails leeward. Or maybe it’s just you, your fishing pole, and the early morning serenity of your favorite watering hole. Boats come in  many shapes and sizes —sailboats ...

Signs You Might Be Living Beyond Your Means

In an age of plastic spending and mobile payments, living within  your means can easily slide into living  beyond  your means. And many of us fall into this trap without realizing it. Getting out of this trap can be “easier said than done,” said Nick Manley, Financial Advisor for SELCO Investment & Retirement Services. “Living within your means...

Demystifying Mortgage Terms, Part II

Now that some of the  common loan-approval terms  are embedded in your brain, it’s time to explore other head-scratchers that come up over the life of a mortgage. The following is a short list of terms describing anything from mortgage insurance to the various types of loans. By the time you wade through this list, you’ll be good and ready to bu...

Demystifying Mortgage Terms, Part I

Here’s an understatement: The financial industry is full of confusing terms. The mortgage world, especially, is saturated with head-scratching  words and acronyms . What’s an LTV, for example? You’d be forgiven if your first thought went to some sort of off-road vehicle. If you’re buying a home for the first time, a lot of terms will be thrown a...