LOGIN
 

Financial Education

 

We’ve Made A Financial Education Commitment To The Community

Sign up for our FREE financial literacy program for adults

We now offer Banzai Plus, an online financial education platform, which features real-life simulated financial choices. Banzai exposes you to financial scenarios and dilemmas, everything from taming a budget and paying auto insurance to navigating taxes.

The process is simple: click on the Get Started button below and fill in the information to make an account. Once you’ve created your account you can login from anywhere, including mobile.

 

 

We’re helping teachers in over 170 schools in the surrounding communities lead the way for over 20,000 students!

Teach real-world financial literacy for free!  These interactive financial courses are tailored for school-aged children and teens and can be taught at your own pace. Click on the Learn More button below to sign up for a free demo and to get your classroom started.

 

 

 


Financial Tip of the Month

The Cost of A Mortgage

Since monthly payments spread the cost of a mortgage loan over an extended period, it’s easy to forget the total expense. For example, if you borrow $200,000 for 30 years at 6% interest, your total repayment will be around $431,680, more than two times the original loan.

What seems like minor differences in the interest rate can add up to a lot of money over 30 years. At 7%, the total repaid would be $479,160, about $47,480 more than at the 6% rate.

Any of the factors will increase the overall cost, but a higher interest rate and longer term will have the greatest impact.

Paying Off Your Loan

You repay a mortgage loan in a series of monthly installments over the term, a process known as amortization. Over the first few years, most of each payment is allocated to interest and only a small portion to paying off the principal. By year 20 of a 30-year mortgage, the amounts allocated to each equal out. And, by the last few years, you’re paying mostly principal and very little interest.

 

Article Courtesy Banzai Financial. To read the rest of the article  and to use their Mortgage Calculator please visit the Banzai Financial Literacy website.


We’ve Partnered With Cetera Advisor Networks To Bring Financial Planning To You

Financial Planning Services are available at all Dort Federal locations!

Thinking about opening an IRA and not sure if a traditional or ROTH is right for you? Maybe you’re considering a new life insurance policy and need advice, or perhaps you’re thinking of retiring soon and would like a professional to review your financial portfolio. Dort Federal can help you make the right decision for you and your family. Through our partnership with Cetera Advisor Networks LCC, Dort Federal provides our members the opportunity to receive professional, financial planning services that may include traditional financial planning, retirement planning, estate planning, mutual funds and stock and bonds, just to name a few.

Contact Drew Goodrich at (810) 244-2609 for more information.