I-595 Expansion: More Lanes, Safer Ramps, New Jobs

Construction to expand Interstate 595 and accomodate traffic growth will begin this Summer. This will be the most expensive road project in Florida's history and will create thousands of construction jobs while pumping $1 million into Florida's economy daily. 

The completed I-595 is expected to be unveiled by 2014. It will feature express lanes for long distance commuters, new ramps and a safer Florida's Turnpike interchange. 

The construction is in response to an increased traffic flow through the area which worsens backups and hazards that lead to accidents.

One of the newest additions to 595 are the express lanes. These are similar to the express lanes found on I-95 in Miami in that SunPass customers can pay a toll to bypass traffic during congested times. The toll revenue will be used to fund the project. 

One of the most needed results of this project is the number of local jobs which will be created. For every $1 billion spent on non-residential construction in Florida, 23,000 jobs are created. 

Lending is Up, No Thanks to the Bailout

Lending is up, but it's not an effect of the bailout. Smaller financial institutions are driving the lending market singlehandedly. 

In fact, lending has grown more slowly among financial institutions who received a bailout than those who were uneligible. Some of the largest banks (Bank of America, JP Morgan Chase and Citigroup) have even reported declines in loans given on their latest financial statements. 

Smaller banks and credit unions have boosted lending in part by diverting business away from larger financial institutions which offer fewer lending options and higher rates. 

People are looking toward credit unions and small, local banks when they are unable to finance what they need at a larger institution. 

Smaller, local banks and credit unions are able to understand local markets and react to the financial crises occuring in places like Florida and Nevada. Larger banks tend to treat all communities the same and do not offer reasonable lending options in states experiencing financial troubles. 

Earn an Extra .5% With High Yield Savings

Last Saturday, while I was depositing my paycheck at my local TFCU branch, I decided to open a High Yield Savings account.  I'm now earning an extra .5% annual percentage yield (APY) on my savings and it only took five minutes!

If you have a minimum of $2,500, you too can open a High Yield Savings account at TFCU and start earning .75% APY on your savings, instead of .25% with a traditional savings account. The best thing about a HYS account is that the dividends are paid monthly, not quarterly. With High Yield Savings you not only earn more, but you get your dividends faster than ever before!

If you are interested in opening a High Yield Savings account at Tropical Financial Credit Union, take a look at their High Yield Savings rates and mention that you would like to open a HYS account the next time you are at a branch. If you already have an account with TFCU all you need is a signature to open a HYS account and you'll be on your way to earning an extra .5%!