Skyla Credit Union Blog

When you purchase a car, you might take out a loan to cover the cost. However, as soon as you hit the road, the value of your car starts to depreciate. Now, let's say your car gets stolen or is damaged beyond repair. You file a claim with your primary auto insurance provider, and they cover the car's current market value, which is the amount your car was worth right before the unfortunate incident.

Having a credit card has a lot of benefits including building your credit, getting rewarded for spending with cash back or travel points, and increasing your buying power. These perks are really great when you keep a low to non-existent balance every month, but it’s hard to enjoy its benefits if your balance is constantly building.

So, you’ve got the basics of credit limits down—now you’re probably wondering: what actually qualifies as a good credit limit?

Ever wondered why your credit card has a spending cap? Or why your credit score drops after a big purchase, even if you pay on time? 🤔

Thinking about applying for a student loan, but unsure if you qualify on your own? This is normal. In fact, 90.30% of undergraduate private student loans were co-signed in the academic year to date 2022/23, according to the Enterval Private Student Loan Report. That’s because many students don’t yet have the credit history, income, or financial track record lenders are looking for. That’s where a co-signer steps in.

Starting your journey as a self-employed individual or entrepreneur is an exciting step toward financial independence. However, it also comes with important financial responsibilities - especially when it comes to taxes. Unlike traditional employees who have taxes automatically deducted from their paychecks, self-employed individuals must manage their own tax obligations.

Tax season is already stressful enough without scammers trying to swoop in and steal your personal information—or even your refund. Unfortunately, every year, tax-related scams evolve, and in 2025, fraudsters are getting bolder and more sophisticated in their tactics.

Does handling your online security accounts sometimes feel overwhelming? I get it! That’s why I'm happy to help simplify it. According to Microsoft, more than 99.9% of compromised accounts didn't use multi-factor authentication (MFA)? MFA is an effective, no-nonsense way to secure your accounts by adding extra layers of protection. This ensures that even if your password is compromised, your personal data remains safe.

Does keeping your online accounts secure ever feel like trying to remember all your passwords at once? (Psst... If your go-to move is resetting them every time, you’re not alone!) But don’t worry—I’m here to break down two popular security measures: Two-Factor Authentication (2FA) and Multi-Factor Authentication (MFA). Both add extra layers of protection to your accounts, but they’re not quite the same. So, which one should you use?