Save Money as a Young Adult
Follow these tips from a local college graduate, and create good financial habits for life!
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Masks required. The new CDC recommendations are a breath of fresh air for many. As we await guidance updates from NYS, we will continue to evaluate and update our policies as appropriate. Please continue to wear a mask when visiting CAP COM. Thank you.
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College Bound
Helping families make life's important financial decisions
How your family benefits:
- Expert advice to help you navigate the college funding process
- FREE private family consultations for members
- Certified College Funding Specialists on staff ready to help you
- Develop strategies to obtain funding
- Create a personalized financing plan
Paying for College
CAP COM helps HS students and their families with this major investment. Watch the on-demand webinar.
Download the Monthly Budgeting Worksheet (PDF)
Zero Closing Cost HELOC
A Home Equity Line of Credit1 is one way to pay for college. Draw money as you need it each year.
Family Consultation
Meet with us 1-on-1 in a preliminary meeting with the student and parent(s)/guardians(s). We'll provide an overview of college planning, financial aid, and college funding options. We can help you every step of the way.
Save Time Before Appointment
Before your family consultation, please complete the College Bound student information worksheet and bring it with you to your appointment. This will save you time at your appointment.
Resources for Students
College Bound has compiled a list of resources to help you with:
- College search
- Funding sources
- FAFSA
- Applications
- Planning a visit
- Best places to buy books
College Planning Process
Watch the webcast to learn tips for how to plan for, apply to, and pay for college. Host Chris Fasano discusses strategies with Kim Donah, CAP COM's Certified College Funding Specialist.
Shortcuts to major topics:
Discounts for Students
CAP COM members save 10% on ACT & SAT test preparation with Prowess Test Prep, an Albany-based company that offers one-on-one tutoring, small group tutoring, and group classes. Visit www.prowessprep.com and tell them you are a CAP COM member for your discount.
- Download flyer for live online SAT course for May 2021 exam (PDF)
- College Planning & SAT Testing Information: www.collegeboard.org
- ACT Testing Information: www.act.org
I Was CAP COM's Priority
“(College Specialist) Kim Donah was very patient with me and walked me through how the loan could affect my future income. She even gave me advice on my resume and skills that impress human resource departments!”
- Kathryn, Clifton Park
Bank Well, Live Well
Simplify your finances and enhance your life. Make the most of every CAP COM benefit.
Mastering Your Savings
Create savings accounts to put away money for specific goals. You can name them whatever you wish, such as College Savings, Spring Break, Summer Job.
Get Our Mobile App
Your personal branch is open 24/7 when you bank with our mobile app. See balances, make transfers, pay bills, and more.
Free ATMs Everywhere
Young adult checking accounts include FREE ATM use worldwide for members age 15-25.
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The Annual Percentage Rate (APR) shall be set at the time of funding and may be as high as the current Prime Rate plus 2% with a maximum APR of 18%. The representative monthly payment based on a fixed, 10-year term Home Equity Line of Credit in first mortgage position at a 3.875% Annual Percentage Rate is $10.07 per $1,000 borrowed. Rates are accurate as of and are subject to change without notice. No closing costs on home equity lines of credits (HELOCs) up to $250,000. Discharge fees and overnight shipping charges are excluded where applicable. If the HELOC is paid and closed within 3 years of the closing date there is a recapture fee in which you will have to reimburse the Credit Union for all closing costs paid on your behalf. Estimated recapture fee examples include $457 in closing costs and a maximum average of $2,475 in New York state mortgage tax for Albany, Schenectady, and Rensselaer counties. Actual closing costs and mortgage tax may be different.
All Lines of Credit require a minimum initial advance of $5,000 and a minimum limit of $10,000. Sample payment for a 15-year fixed loan at 4.00% is $7.40 per $1,000. Other rates are available and subject to change without notice. Mortgages in New York State only. CAP COM FCU NMLS Identifier: 401261.
