The Bulletin Board - A Newsletter for TCT Members
Pictured Above: TCT Staff volunteered at the 'Bite of Reality' interactive financial education event, hosted by the New York Credit Union Association (NYCUA).
A balance transfer means moving all or part of the debt from one or more credit cards to another credit card. Consumers often use credit card balance transfers as a way to take advantage of a much lower interest rate. It’s important to realize that you are not actually paying off debt with a balance transfer, you are simply transferring it to another card. There are several benefits to transferring high-interest balances.
1. Take advantage of a lower interest rate.
Oftentimes, credit unions and other financial institutions will offer lower interest rates. If you are currently carrying a high balance on a credit card with a high interest rate, this can be one of the biggest advantages of credit card balance transfer. It’s a great way to pay down your debt faster by reducing the total amount you are paying in interest. You can focus on tackling more of the debt balance each month.
Visit tctfcu.org/credit-card to use our balance transfer calculator to help determine your potential savings.
A word of caution when you are taking advantage of a balance transfer rate special, be sure to read the fine print to see when that special, low rate expires. Some balance transfer rates may only be in effect for two or three months, before reverting to a higher rate for the remaining balance. Special promotional balance transfer rates almost always expire. Don’t be afraid to ask questions. When does the promo rate expire, and when it does, what is the new rate? You will want to shop around to find the best overall deal, including rate, length of a special promotion, and terms. If the new card has a lower interest rate but exorbitant fees, then it’s not such a great offer, is it? Finally, the best rates are usually reserved for those with the best credit scores. Keep this in mind.
TCT's Platinum Credit Card offers a competitive fixed rate ranging from 6.96% – 14.96% for the life of the balance, based on creditworthiness. Plus, no balance transfer fee and no annual fee.
2. To consolidate debt from multiple credit cards.
If you find yourself overwhelmed with multiple monthly credit card payments, a credit card balance transfer will allow you to consolidate the balances of several credit cards onto one card. It’s a great way to simplify your finances. You will not only enjoy a lower interest rate (if you’ve done your homework), but you will also have one convenient monthly payment that may enable you to focus on paying off your debt more effectively. Something to note when you are looking to consolidate balances from several cards, make sure your new credit card has a high enough credit limit to handle all of your balance transfers. After all, if this is your goal, the point is consolidating it all, right?
3. To move to a credit card with better terms.
In addition to a higher interest rate, your current credit card or cards might have higher fees, a shorter grace period, and other terms that you just don’t prefer. Taking the time to find a credit card that truly fits your needs can pay off with better terms and other perks.
4. As a way to get out of debt faster.
Getting out of debt quicker is one of the most common reasons people take advantage of credit card balance transfers. They look at that lower interest rate as giving them that extra savings they need to pay off credit card balances faster. One thing to be aware of when your goal is getting out of debt faster is that a balance transfer can put you at risk of getting into more debt. You need to avoid the temptation of charging up the balances of those credit cards you paid off with your balance transfer or it will defeat the purpose and get you deeper into debt.
5. To get a card that offers rewards and other perks.
This can be another great advantage of a balance transfer credit card. Getting a card that gives you cash back, travel rewards, or other perks or discounts can be a great benefit and offer you additional savings.
TCT's Platinum Credit Card holders earn UChoose Rewards® on purchases. Rewards are redeemable for cashback, use at Amazon Checkout, or toward anything from our huge online rewards catalog.
So, just what is the best balance transfer card? There’s really no one-size-fits-all. It really depends on your individual needs and goals. A card with low or no fees is always a plus. For example, if you’re looking for a credit card with a low balance transfer rate, with no annual fees, no balance transfer fees, no cash advance fees, and cash back rewards, TCT FCU has a perfect option for you. If a credit card balance transfer is on your to-do list, be sure to check it out. Applying for a balance transfer is simple, you can do it right online.
According to a recent WalletHub survey, nearly 3 in 4 people say their financial situation impacts their mental well-being, and 69% of Americans feel insecure about their finances. It is no wonder so many of us are tired of traditional “new year, new budget” advice. Financial wellness does not have to mean strict spreadsheets. It is about taking small, actionable steps to feel more in control.
Do This: Review your spending patterns
Not That: Start with a strict budget
Take a week to observe how you actually spend. Look at your bank statements and credit card bills to spot patterns. Are subscriptions you no longer use still draining your account? Are grocery runs adding up to more than you realize?
When you understand where your money is really going, you can make small, realistic adjustments – like shopping for generic brands or switching streaming services seasonally. Real progress beats rigid plans every time.
Do This: Automate what you can
Not That: Rely on willpower to save
If you have ever meant to transfer money into savings but forgot (again), automation can save you from yourself. Schedule automatic transfers to savings on payday, set up direct deposit to savings, or set up autopay for bills to avoid late fees.
This trick works because it removes temptation and decision fatigue – two major barriers to saving consistently. Even a small automatic transfer adds up over time. Think of it as paying your future self-first.
Do This: Build an emergency cushion
Not That: Wait until you can save “enough”
A full emergency fund (three to six months of expenses) sounds great on paper and can feel impossible when money is tight. Start smaller. Even $20 a week builds momentum. Keep it in an easy-access account, separate from other money, so it does not get mixed with daily spending.
This cushion helps protect you from unexpected costs – a car repair, a surprise bill, or even a missed paycheck – and gives you confidence that you can handle what comes your way.
Do This: Plan for joy – not just bills
Not That: Treat fun as “extra” or “unnecessary”
Your budget should not just be about survival. Planning ahead for things that bring you joy, like a family outing, a weekend getaway, or even a nice meal out, keeps your financial plan sustainable. When you budget for joy and happiness, you are less likely to fall into guilt spending or burnout later.
Do This: Check your credit and debt picture
Not That: Avoid it because it feels stressful
It is tempting to look away from debt; however, facing it head-on is the first step to taking control. Pull your free credit report at AnnualCreditReport.com and review all your balances, interest rates, and due dates.
on paying off the smallest balance first (the “snowball” method) to build momentum or tackle the highest-interest debt first (the “avalanche” method) to save money over time.
Do This: Seek trusted support
Not That: Navigate your finances alone
You do not have to have every answer to feel financially confident. Your financial institution offers budgeting tools, workshops, or savings programs to help you get started.
If you are dealing with debt, GreenPath offers free financial counseling and a proven Debt Management Program designed to lower interest rates, reduce payments, and reduce your stress in the coming year.
TCT's Nominating Committee; Art Center, Mike Gutchell, and Duane Lineback have nominated incumbent Gary Fishlock to fill one current seat on TCT's Board of Directors.
Gary Fishlock
Gary Fishlock brings over five decades of experience in the financial services industry. He began his career as an accountant in the United States Air Force, serving four years in Europe before an honorable discharge. His civilian career started at HSBC, where he spent eleven years, followed by a role as Chief Operating Officer at International Paper Credit Union in Ticonderoga, NY.
In 1988, Gary joined the National Credit Union Administration (NCUA), managing conservatorships and workouts across half the United States for 22 years. For the past 15 years, he has advised credit unions on strategic planning, compliance, mergers, and acquisitions.
Gary currently serves as an Associate Director on TCT Federal Credit Union’s Board of Directors. He is the immediate past treasurer of the Queensbury Senior Center and has held leadership roles with the American Legion, Forty & Eight, and B.P.O.E. He is also active in his parish as a Eucharistic Minister at Sacred Heart Church in Lake George.
Gary and his wife, Betty, have been married for 34 years and enjoy time with their four children and six grandchildren.
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As a TCT member you can save big with exclusive discounts on tax prep - plus, save even more with early-season pricing when you file by February 28th. Take a few minutes now to lock in your discount, right from your phone. And as a credit union member, you can enter for a chance to win $10,000 from Love My Credit Union Rewards. TURBOTAX
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Help us support the 17th Annual Virtual Bookraiser to benefit Project: Cameron's Story —a local organization that helps families bond with their babies in the NICU through books.
“Before I could hold him... before I could touch him... I read to him.”
Often babies in the NICU are so fragile that their parents are unable to touch or hold them. Reading to their newborn has a tremendous effect on a family’s ability to bond in the most difficult of circumstances. Through Project Cameron’s Story, each family in the NICU at Albany Medical Center, St. Peter’s Hospital, and the Special Care Unit at Glens Falls Hospital receives a book to read to their baby.
Ordering Instructions:
- Choose books from their Amazon Wish List
- When you checkout, select the option to “Ship to Project Cameron’s Story”
- Be sure that you select “This is a Gift”. This will allow you to send a message along with your book donation.
Please write the following: “I am donating these books as a part of TCT Federal Credit Union's collection site. I would like the book label to say that the book was donated by __________________________________". (This can be your name, your child’s name, your family’s last name, etc.)
**This final step is important and will allow the collection site to keep track of how many books we raise for Project Cameron’s Story!**
Please place your book donation order no later than February 19, 2026.
Thank you so much for your generosity!
All school employees are eligible to win!
TCT FCU and Adirondack Broadcasting are proud sponsors of the Teacher of the Week Program. One special school employee is announced on-air each week from the nominations submitted by students, parents, fellow faculty, and staff. Nominate someone making a difference in your school community. All school district employees are eligible to win!
Congratulations to the 2025 school year recipients!
Your dedication, extraordinary effort and caring hearts are appreciated.
If you know of a school employee who does an extraordinary job and goes above and beyond for you or your child, we want to hear about it. A nomination of 100 words or less should be submitted to teacher@adirondackbroadcasting.com explaining why this nominee should be Teacher of the Week.
Prizes provided by:
- Habitat for Humanity ReStore at exit 17N
- Hair Creations
- Stewart’s Shops
- A Lasting Impression Florist
- Coopers Cave Ale Company
Nominate Someone Special Today!
Holiday Closings
- December 24th, 2025: Christmas Eve - Closed
- December 25th, 2025: Christmas - Closed
- December 31st, 2025 (3:00 PM): New Year's Eve - Open 9 am - 3 pm
- January 1st, 2026: New Year's Day - Closed
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VISA® Platinum Credit Card
Not all cards are created equal. We think ours is pretty great, and we think you will too. No Annual fee, No Balance Transfer fee, Cashback Rewards, and fixed low rates.
TCT Supports the Trades Grant
TCT Members can request funding for furthering their trade careers by applying for the TCT Support the Trades Grant.
Virtual Financial Coach delivers financial guidance that is...
Personalized, proven (leveraging GreenPath’s' 60 years of counseling), caring, judgment and jargon-free with easy to take steps and options to improve financial health.
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