Posts

Showing posts from January, 2010

Credit; your friend, your enemy

Image
Every American knows the term good credit. A person's credit rating is a numerical score obtained by statistically analyzing the person's use or misuse of credit. The most widely used credit score in America is the FICO score, which ranges from 300 to 850. A person with a credit score of 300 is considered extremely untrustworthy by lenders and most of the time they are denied credit by lenders, or are only granted extremely high interest loans by payday loan companies and other predatory lenders.

A person with a credit score of 720 to 850 is considered a safe bet by lenders. Not only do they have access to easy credit, but they also receive very low interest rates on their loans. Some car companies even go as far as giving 5 year 0% interest loans to individuals with good credit, while giving those with just fair credit, loans of 19% interest over five years.

Let us analyze the effect of good credit in a hypothetical situation. Two consumers Titus and Joshua both come to a car…

Tegloma Minnesota End of Year Party

Image
Tegloma Minnesota Chapter had their traditional end of year party on Saturday January 2nd 2010. The chapter president Hassan H Kamara welcomed members and guests and expressed pride in all that the chapter was able to accomplish in 2009; the continuation of the life insurance program for chapter members and families, an increase in the number of members, the fact that no members left the association over the year, the launching of a chapter website, the election of a chapter member as federation vice chair, active involvement in the Sierra Leone community in Minnesota, and a wonderful fundraising and inaugural dance that was attended by Tegloma Federation officials.
Several chapter members also made statements and Mrs Elizabeth Momoh gave an eloquent presentation about the 2010 census, encouraging members to apply for census jobs, and urging all to get involved, as the census exercise was very important, especially to minority communities.
The Tegloma ladies were recognized for the wo…

Tegloma Minnesota Chapter End of Year Party Pictures

Image

Minnesota End of year Party Pictures

Image

Tegloma Minnesota end of year Party Pictures

Image