February 2024 News
Join Us at the Colorado Garden & Home Show
It’s time to gather your garden and home-remodeling plans and head to the Rocky Mountain region’s oldest, largest, and most prestigious home show, the Colorado Garden & Home Show. Bellco is proud to be the presenting sponsor of this nine-day event at the Colorado Convention Center, February 24–March 3.
Bellco members can get TWO FREE ADMISSIONS to the event by showing their Bellco debit card, credit card, or mobile app at the ticket booths. While you’re at the show, don’t forget to explore this year’s Entrance Garden presented by Bellco Credit Union.
If you’re looking for some great financing options for your remodeling projects or larger home show purchases, Bellco members can take advantage of these two money-saving offers:
HOME EQUITY CHOICELINE
For a limited time, Bellco is offering a fixed rate as low as 6.99% APR on a new or existing Home Equity ChoiceLine advance of $10,000 or more*. Click here to learn more.
BELLCO PERSONAL LOAN
For a limited time, Bellco is offering a 0.50% off your rate on a new Bellco Personal Loan for qualified borrowers. Current rates for Bellco Personal Loans are as low as 10.99% APR. Click here to learn more.
For more information about the show and offers, please visit Bellco.org/homeshow.
*The 6.99% APR for the Fixed Rate promotion is available to anyone who qualifies and advances at least $10,000.00 from the available line of credit at the time the Fixed Rate Subaccount is opened. Conditions and restrictions, including those related to CLTV and credit score, apply. This offer can end at any time. If you don’t qualify for the promotional rate, the APR for fixed-rate advances will be set using the fixed rate Bellco is offering at the time you fix the rate based on your credit score, combined loan to value, and lien position at the time the loan is closed. The fixed rate will be in effect for the whole term of the applicable fixed-rate subaccount, which cannot exceed the remaining term of the loan. Membership eligibility required. All loans subject to approval by Bellco. Variable Annual Percentage Rate (APR) for well-qualified borrowers as of 01/01/2024 is 8.74% and is subject to change without notice. Maximum APR for variable rate advance is 21%. Variable rate may change after account opening. Property must be insured, owner occupied (primary or secondary), and located in Colorado.
Funancial $marts for High Schoolers is Here!
Bellco is always looking for ways to help financially educate our members, whether it’s assisting established investors or teaching younger members in elementary, middle, and high school. That’s why we’ve partnered with Economic Literacy Colorado, an organization focused on helping Colorado students achieve a lifetime of financial security. With elementary and middle school versions already created, we’ve added a high school version workbook that educates while it entertains: “Funancial $marts: A Financial Survival Guide for High School Students.”
The new high school “survival guide” includes activities about real-world money situations such as the differences between credit and debit cards, factors to consider when making purchases, and ways to comparison shop online. In addition to those lessons, the book also highlights steps to take before seeking an auto loan, how to save for college and college alternatives, how to tip, decoding your paycheck, and more.
“Funancial $marts” for high schoolers is available at all Bellco branches, as well as through various community partnerships. Parents and teachers can access a digital version through our Funancial $marts webpage.
Colorado Attractions Off The Beaten Path
Sure, other states might have a giant ball of twine or a larger-than-life Paul Bunyan statue. But Colorado also has some quirky attractions. In this new year, instead of going to the same old well-known spots, why not check out a few of these more obscure ones?
- Loveland’s “Sweetheart Couple.” Ted and Mabel Thompson, residents of Loveland in the 1940s, wanted to spread romance by creating the Valentine Remailing Program. Through this program, volunteers hand-stamp and resend Valentine’s Day cards from the “Sweetheart City.” As a tribute to the program’s originators, the city installed a bronze relief featuring the couple in Thompson Park.
- Art in the Park in Aurora. Hogan Park at Highlands Creek boasts a two-mile art walk that features installations from artists from around the world. There you can see the latest, “Umi,” from South African sculptor Daniel Popper. This sculpture merges the likeness of a woman with a tree, urging viewers to consider the connection between humanity and the natural world.
- “Cold War Horse” sculpture. Near the former site of the Rocky Flats nuclear weapons plant in Arvada, this chilling sculpture was installed as both a memorial to the people who worked at the troubled Rocky Flats and a challenge to viewers to learn about and remember the environmental issues the nuclear plant presented the area.
- Riverside Cemetery. A site originally chosen to be attractive to visiting families, it is now bordered by train tracks, industrial parks, and I-70. Nevertheless, walking through the gravesites at Denver’s oldest operating cemetery is like taking a step back in time to the history of the West, in a display of the final resting places of numerous notable pioneers, activists, and suffragists, as well as freed slave Clara Brown and the cofounder of Coors Brewing Company.
- Cranmer Park Sundial. In Southeast Denver, Cranmer Park has long been a popular spot for its vistas, its history, and its beleaguered yet beloved sundial. Originally installed in 1941, the sundial was completely destroyed in 1965 by vandals using explosives. It was rebuilt the next year, but succumbed to vandals again in 1992. In the intervening years, weather took its toll as well, but in 2020, through grant funding and community donations, the sundial enjoyed a beautiful restoration. As a nod to the growth and tenacity of Denver itself, the sundial truly passes the test of time.
Sometimes the most interesting attraction is on the road less traveled. Whether you’re new to Colorado or one of the pioneering families, now’s a great time to explore our lesser-known sites.
Avoid Joint Tenancy for Your Kids Inheritance
Are you considering titling your property with your children (also known as Joint Tenancy)? People often think of this technique as an easy way to pass their inheritance along to their children upon their death. However, for 99% of individuals, this is an incorrect way of passing assets along to our loved ones. There are three reasons you do not want to do joint tenancy with right of survivorship with your family and loved ones.
First is that once you have joint owners on your property, they have the same rights and obligations as you have to the property. To sell your property, all individuals would have to agree to sell and sign the deed.
Second is that once they have an ownership interest, the property and equity in the property have now been exposed to their own private issues. We all have good kids but sometimes things happen in their lives, and we do not find out about these things until they have been revealed. If they end up going through a divorce, your property will be included in the financial settlement of their affairs. If they file bankruptcy, your property will be included in the financial trauma with the event. If they were to be sued, your property would be included in their litigation.
And third, your family members will lose their step-up in basis for tax purposes. This is due to the IRS deeming this as a gift and not an inheritance.
There are excellent alternatives to consider, like a Beneficiary Deed, Life Estate Deed, or simple trust planning.
Consider taking advantage of your complimentary consultation with The Hughes Law Firm, P.C., who offer Bellco members a 25% discount. Hughes Law will explore planning options with you, that are a perfect fit. As a trusted partner with Bellco for more than 25 years, they have seven convenient offices from Ft. Collins to Colorado Springs.
For more information, you can contact the Hughes Law Firm at 303-423-8423.
