3 Steps for Getting Started

When you’re ready to renovate your kitchen, make a plan to determine your best approach. Should you find a contractor first? Or go to a store, then a contractor? And when should you visit First Source about kitchen financing? Follow these steps, and save yourself time, stress, and effort. 

Step 1 – Get an Estimate

This first step will depend on your preferences and personal taste. If you’ve already researched sources, and found what you want on Pinterest or in a home design magazine, you may know exactly what you want your kitchen to look like: cabinet style, backsplash pattern, lighting, and other details, down to the drawer pulls, and even an eat-in nook for your dog. If this is you, you’re probably going to pick out your materials yourself. In that case, go to a local supplier first, tell your contractor exactly what you want, and price it all out.

If you’re not sure exactly what you want, you might get together first with your home improvement store designer, or even your contractor, and talk about your preferences. Ask their opinions about what you can and can’t accomplish in your space, what your options are, and what your budget will handle. Contractors will often recommend a supplier, or even go shopping with you, since they often get discounts. They can also help you estimate timing for both ordering materials and the renovation itself.

Step 2 – Apply for Financing

Once you have a full estimate or project cost, you can make an appointment to visit First Source, and we’ll review your best options for financing. We’ll consider your estimate, current resources, credit and financial standing, and preferences. If you want to get an idea of what your budget is beforeyou talk to a designer, supplier, or contractor, let us know. We can see approximately how much financing you might be approved for first to see what your budget would be. Financing for many kitchen remodeling projects fall under our Home Improvement Loan. Others might need a Home Equity option. 

Step 3 – Order Your New Kitchen

If you qualify for a Home Improvement Loan or Home Equity options and obtain financing, you can set out to finalize your kitchen renovation plan and order materials. With the help of a reputable and licensed contractor and supplier, you’ll know your costs up front, and the approximate timeline for your new kitchen to take shape. 

Start Now

Time is always an important factor, including shopping for just the right kitchen design, finding a reputable contractor, ordering all the materials, and of course, carrying out the construction. While a financing decision doesn’t take long, the entire kitchen remodeling process may take a few months, so consider this time in your planning. 

Get started with the kitchen remodel financing application process below.

Not sure if your project is right for a Home Improvement Loan? Call 315-735-8571 to discuss your options or make an appointment with one of our friendly and knowledgeable representatives today.

Making Business Personal

Joanne “Jo” Gerace, Owner/Manager of Tiny’s Grill in Utica, has been a First Source Member for more than 25 years, and as a small business owner, knew that First Source was the perfect place to do her business banking.

Jo’s Story

 Joanne Gerace

Joanne Gerace has lived a fascinating and storied life, and many who know her only from Tiny’s Grill may be surprised by her many adventures. The Utica native is an avowed sports fanatic, has worked for the New York Yankees organization, helped the Utica Blue Sox become a successful and profitable business (as eventual General Manager), and then re-launched a local business, Tiny’s Grill, more than 27 years ago. It was something she had always wanted to do. Reviving an older, traditional business fit her well. Tiny’s Grill has been a Utica staple since 1931. The original site was at the Whitesboro circle (where the Utica Aud now stands). Tiny’s moved to the current State Street location—where the Oneida Grill once stood—and Joanne Gerace took over in 1990. 

“I had revived Jazz in Utica by bringing in local and world-class jazz musicians and artists,” says Gerace. “I was also very connected to local professional and amateur sports teams, so we sponsored and hosted them at the Grill. I have always been very community oriented, involved in many local community boards of directors and community projects, from the St. Patrick’s Day parade to downtown Utica projects.” Jo is a member of the Chamber of Commerce (Tiny’s Grill is a previous winner of the Business of the Year award), as well as a member of the auditorium authority since 1984, YWCA Woman of the Year, a Utica Sports Hall Of Fame founding member, a mentor to budding women entrepreneurs, and more. She has worked to make Tiny’s Grill a mainstay in the area. In addition to the iconic life-sized Blues Brothers statues flanking its sign outside, the restaurant is known for its sports and music memorabilia—with many photos signed by the pros—and its traditional Christmas display, including what she believes is the largest collection of nutcrackers in the state (and country)!

Tiny’s and First Source FCU

Jo knew she wanted to bank with someone that shared her love of community and embodied all of the wonderful gifts that Utica has to offer.

In her words: “I do both my personal and business banking with First Source, and have for as long as I can remember. They have always been wonderful with the service I receive and their generosity to the community. I have savings, checking, business savings, and business checking, as well as credit card merchant services. We are very happy with everything. The merchant services portion really makes my business run smoothly at the point of sale. It’s important to me to have those aspects of my business run smoothly so I can focus on my customers. First Source makes it easy.”

Gerace says she has stayed with First Source for many reasons, primary among them that she always receives personal attention, and good experiences with her banking and the staff. “There have been many people working with me over the years, and I have always had a good relationship with every one...great customer service!” She adds that, as a downtown business, she has easy access to the South Utica branch, including drive-up services. And now, she does the bulk of her banking online; it’s easy and convenient, letting her work around her unique schedule.

“First Source has made it a priority to help our business,” Jo says. “Great customer service, good rates, and many services for a business to take advantage of.” She has recently worked to update Tiny’s Grill, and hopes to use First Source Business Services to keep them running profitably for many years to come.

First Source Business Services

First Source provides a full suite of Business Services, including Merchant Services for POS with Central Payment, Human Resources Management and Scheduling with ADP, Accounting with Quickbooks, business checking and savings accounts, business credit cards and lines of credit, as well as a multitude of business lending options.

Live Smarter

Want to learn more about First Source Business Services? Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.

With smart advice

When winter weather inspires you to make plans to travel someplace warm, some sound advice on planning and financing can make all the difference. Your plans will often include airfare, accommodations, meals, entertainment, activities, and other expenses. If your estimated total cost already has you searching for a travel loan, you could benefit from learning more about how best to finance your travel, and what kinds of credit or loans work better.

Travel to warmer destinations can get expensive. From airfare to accommodations, meals, activities, and entertainment, costs can add up without some smart money management. The following list is a great place to start, and can help us decide if a personal loan is right for you.

SAVING MONEY

• Plan Ahead
  Your biggest cost savings can often be found by booking far enough ahead of time, especially for airfare and accommodations. These types of expenses are tend to be higher when paying at the last minute. Many resorts and travel web sites offer discounts if you plan ahead. If your Passport isn’t up to date, now is the time to apply for your renewal; last-minute rushes can cost much more.

• Avoiding Peak Dates
  If at all possible, plan your trip in the early or late season, during the week, and during windows of time that most people aren’t on vacation. The savings during these “off-peak” times can include almost every expense on your list, including meals, shopping, and activities, from scuba or deep-sea fishing rentals to daily excursions. If you’re considering a vacation home-sharing service or vacation property rental, you’ll find that your travel dates can make a big difference in the asking price.

• Consider the Less Popular Destinations
  The most popular tropical destinations are in higher demand, and can demand higher prices for everything from airfares to hotels, restaurants, and shopping. Look for highly rated resorts that are just a bit less popular, but offer a great experience. Many travelers report even better experiences at these destinations, without the crowds and over-commercialized development. Also consider airports that are not as close by; often flying out of Rochester, Buffalo, New York, Boston, or even a Canadian city can save you hundreds of dollars, even if a hotel stay is required to catch your flight.

• Shop for Discounts
  Look for promotions, package deals, and discounts online before you book. Are you a student, educator, or senior citizen? Many destinations offer discounts for you, if you know to ask and apply. You might be surprised at the sizable savings. Don’t forget to check travel sites, which can offer savings on airfare, lodging, and vehicle rentals. Consider booking your accommodations through one of the big home- and apartment-rental sites, or even a home swapping service, if you’re feeling adventurous.

HOW TO PAY FOR YOUR VACATION

If you need vacation financing, there are some decisions to make about how you finance.

Personal Loan

A personal loan may be a good option to cover reasonably large expenses.

1. It’s often less costly than other forms of borrowing. Check online or ask us about current rates.

2. Budgeting can be easier. You’ll know up front what your monthly payments will be, and how long they’ll last.

Meet with a First Source Representative first, and make sure all the terms, any fees, and the payments all work with your budget and financial standing.

Credit Cards

We generally recommend using your credit cards to pay for some of the day-to-day vacation costs, especially if you earn rewards, and can pay them back over the short term. One option: secure your personal loan, use your credit cards for expenses (to earn your rewards), and fully pay them down using your loan; then all you have is low-rate loan to pay back.

Plan Ahead

Your tropical destination will provide you with great memories for years to come. With our help, you can plan ahead and finance your trip smarter.

Apply for a Vacation Loan below.

If you’re not ready to apply for a Personal Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today. Simply click on the button below, select the “Apply for a Loan” service from the menu and choose the “Personal” option.

Start with these helpful steps

If you want to get your first snowmobile—or upgrade to a newer model—and your credit isn’t ideal, can you still get financing? And just as important: should you finance? It might be best to plan and save first. Whether you want new or used snowmobile financing, we offer smart, sensible ways to help guide you in what’s best for getting what you want, while still keeping your finances in check. 

Know Your Options
We recommend that you sit with us first to discuss your options before considering financing solutions. Our Member Representatives can look at your options, and the effects a loan may have on your credit and financial standing.

Determine What You Want to Spend

• Determine the type of snowmobile that will fit the kind of riding you want to do; ask your friends who ride for their help

• Decide if you want a new sled, or are willing to consider a used one

• Do some initial research into pricing—both new and used—for the sled you want

• Include other relevant costs in your total: insurance, typical maintenance and repairs, a trailer, storage, trail fees, clothing and accessories, etc.

• Arrive at a total for your initial costs and ongoing monthly expenses

Evaluate Your Financial Standing
While your First Source representative will help you determine your current financial standing, you can do some of your own research, including checking:

• Your credit standing

• Your cash flow (monthly income and spending)

• Your current savings

You can check your own credit before an appointment, and we’ll take a look during the loan process. The kinds of factors that can affect your credit standing:

• Have you always (or almost always) made loan payments on time?

• Do you keep your credit within practical limits (avoid over-extending yourself)?

• Do you have a limited number of loans you are currently paying?

• Do you have high balances on any credit cards?

How Much Can You Afford?

Before you apply for financing, look at your household budget for a rough idea of how much you can afford every month. You don’t want to stretch yourself thin so that you can’t make your loan payments for any reason. Consider how much you have left over each month, how much you have saved, and how long you believe you can pay off a loan. We can work with you to determine what you can afford.

Get started with a Snowmobile Loan below.

If you’re not ready to apply for a Snowmobile Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.

When you’re ready to buy your recreational vehicle

Sales of recreational vehicles (RVs), campers, and trailers are growing every year as more and more people find adventure in camping and road trips. If you’re ready to find your new path, or looking to upgrade to something a little more comfortable, you’ll most likely need financing. Here are some simple steps for how to finance an RV, camper, or trailer without breaking your budget.

Buying one of these large vehicles for temporary living isn’t just about the purchase price. You’ll need to plan ahead for monthly payments with interest, fees and warranties, monthly and yearly maintenance costs, insurance, storage in the off season, and all the expenses that come with traveling, including fuel, campground fees, and perhaps a new vehicle for towing!

This first step seems obvious, but you don’t want to start by shopping for and choosing your dream vehicle until you’ve checked your budget. Start with your income and future financial plans and expectations, and see how much you can handle monthly or yearly for this purchase. Remember to include your plan for retirement (whether it’s your present or in your near future), and the financial changes that brings.

Many RV prices are inflated on the lot, so people often don’t pay sticker price. Dealers will negotiate the price with you, and there are many online resources to help in your search, and pricing strategy. So even though you can start with asking prices a little above your range, we like to recommend looking in your established range. That way, if you negotiate a lower price, consider the difference a savings, or even a bonus to add to your maintenance budget. Another great strategy is to start smaller, and if you like it—or if your family grows—plan to upgrade later.

As with any significant loan, your credit will affect whether you are approved for a loan, as well as the rate you secure. A lower score, among other factors, can result in a higher interest rate. If your rating is low, ask how we can help you improve it before you apply for a loan. You can check your own credit score ahead of time, and we’ll also check it during the loan approval or pre-approval process. A small difference in your interest rate can make a big difference in what you pay over the life of the loan.

Saving cash to put down can help in a number of ways. You’re in a stronger negotiating position on the purchase price, you reduce your loan amount, and you’ll owe less on your vehicle over time, a big help when you’re looking to trade up or sell. Not sure how you can manage your budget to save? Ask us for advice!

Among your many financing options, a Recreational Loan could be your smartest choice, depending on your wants and needs. Make an appointment to talk with us, and bring your questions. We’ll talk about your financial standing, budget, expectations, and plans, and cover the loan options and terms available to you. There are different rates for different length payoff terms (1-7 years), and your credit standing can make a difference. We can help with budget suggestions as well, and make sure you’re planning for all the expenses involved.

Camp Smarter

Start your next adventure with an Recreation Loan for an RV or Camper. Get started with the application process below.

If you’re not ready to apply for an RV Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.