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Escrow Pricing Increase

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Posted On: September 8, 2023 by San Luis Valley Federal Bank in: News

Important Notice: Your Escrow Pricing may Adjust for 2024 As you may be aware, your property value may have increased this year. County Assessors throughout the Valley performed a property valuation from January 01, 2021, to June 30, 2022. It was common to see residential property values increase by 30-80%. As a result, you may see a substantial increase in property tax payments. If you elect to have San Luis Valley Federal Bank escrow your property taxes, your escrow payments will also increase. It is important to note that while the increasing property tax payments increase your total monthly payment, it does not mean your regular principal and interest payments are also increasing. There are 6 parts that may contribute to your mortgage loan payment.  Principal Payment This portion of the loan payment reduces the original amount borrowed or the principal balance. Over time, as you make principal payments, your remaining debt decreases. Interest
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Recent Blog Posts

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Escrow Pricing Increase

Posted On: September 8, 2023 by San Luis Valley Federal Bank in: News

Important Notice: Your Escrow Pricing may Adjust for 2024

As you may be aware, your property value may have increased this year. County Assessors throughout the Valley performed a property valuation from January 01, 2021, to June 30, 2022....

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Tags: Escrow, Mortgage, Mortgage Loan, Property Taxes

Credit Report Opt Out

Credit Report Opt Out

Posted On: July 27, 2023 by San Luis Valley Federal Bank in: Financial Education

How to Opt Out of Marketing Triggered by Credit Inquiries

We recently learned that some members receive many marketing solicitations after pulling their credit report. The four major credit bureaus, Equifax, Experian, Innovis, and Transunion,...

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Tags: Credit Report

Commercial Loan Officers

Protecting your Business

Posted On: July 7, 2023 by San Luis Valley Federal Bank in: Financial Education

Business Identity Theft Protecting your Business and Resources

 

What is Business Identity Theft?

In the case of a business, a criminal takes over the identity of a business and uses that identity to establish lines of credit...

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Tags: Business Identity Theft, Protecting your Business

2023 Fireworks

2023 Fireworks

Posted On: June 20, 2023 by San Luis Valley Federal Bank in: Events

Save the date! In cooperation with the City of Alamosa, San Luis Valley Federal Bank is thrilled to announce its 25th annual fireworks show on July 4th, 2023, at the Alamosa Fairgrounds at 9:30 pm. The show is FREE to the public.

Check for...

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Amanda Gallagher BSA Officer

Safe Banking for Seniors

Posted On: June 15, 2023 by San Luis Valley Federal Bank in: Financial Education

SAN LUIS VALLEY FEDERAL BANK JOINS ABA FOUNDATION’S SAFE BANKING FOR SENIORS CAMPAIGN

We are joining the American Bankers Association Foundation’s Safe Banking for Seniors campaign. We will mobilize bankers across the Valley to educate...

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Tags: Financial Education, Financial Literacy, Safe Banking For Seniors, Scams

Robin with piggy banks

Raising Financially Responsible Children

Posted On: April 13, 2023 by San Luis Valley Federal Bank in: Financial Education

Raising Financially Responsible Children

Did you know that setting up a savings account for your children can be the best way to get them started on healthy and successful money habits? On the surface, it teaches basic math skills, but more importantly,...

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Tags: Budget, Financial Education, Financial Literacy, Saving

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Silicon Valley Bank Collapse

Posted On: March 13, 2023 by San Luis Valley Federal Bank in: New

Silicon Valley Bank collapse and understanding FDIC deposit insurance.

 

On March 10, 2023, the FDIC took control of deposits held at Silicon Valley Bank in Santa Clara, California, amid a series of unique circumstances that led to...

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Tags: Banking Industry News, FDIC, FDIC Insured, Silicon Valley Bank Collapse

Emergency Savings

Emergency Savings

Posted On: March 1, 2023 by San Luis Valley Federal Bank in: Financial Education

How to Save for an Emergency, during an Emergency

Sticking to a routine savings plan has never been easy. It’s even more difficult when something unexpected happens, like an accident or a natural disaster. Many consumers use credit cards or...

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Tags: Emergency Savings, Financial Education

Financial Health

Financial Health

Posted On: January 20, 2023 by San Luis Valley Federal Bank in: Financial Education

Set Your Calendar Every Year for Good Financial Health

Your credit report is your most important financial document. It’s what’s used by lenders to determine if you’re eligible for a loan, and it may also be checked when you apply...

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Tags: Credit Report, Credit Score, Financial Health, Financial Literacy

Pay Yourself Scam

Pay Yourself Scam

Posted On: September 7, 2022 by San Luis Valley Federal Bank in: Financial Education

Send Yourself Money? That's a Big Red Flag

Scammers are always creating new ways to steal your money. One of the recent scams utilizing peer-to-peer payment services is what's known as the "Pay Yourself Scam."

The gist of the scam...

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Tags: Financial Education, Scams, Zelle