A very Happy New Year to you! I hope you had a restful holiday.
The new year is a time for new beginnings, resolutions, optimism, and hope. New Year’s is also a great time to review your finances so you’re ready for whatever lies ahead.
An old French saying goes, “The more things change, the more they stay the same.” The idea behind this seeming contradiction is that, despite the changes in our lives (good or bad), the things that matter most or can help us most stay the same. Here are three resources that can help you no matter what financial changes come your way.
Resource 1: People
It should come as no surprise that the first item on my list of financial resources to rely on is people. Offering great service and thoughtful advice is at the core of your Credit Union’s identity. That’s why, last year alone, we added 10 percent more staff to give you the personal attention you’ve come to expect. However, another important aspect of offering great service goes beyond great people. And that’s advanced financial technology that powers financial apps and online banking. Last year, we leveraged this technology to launch our new digital banking platform, Tulee!
This app-based platform streamlines how you bank and frees up our staff to help you navigate important financial decisions and issues. Throughout 2024, we will add new capabilities to Tulee to make managing your financial life easier and more convenient. I’m proud to say many of these enhancements came directly from Member suggestions. These include bringing back Zelle, greater funds transfer functionality, and the ability to make principal-only loan payments.
Resource 2: Savings
Number two on my list of must-have financial resources is savings, which are critical to financial security and long-term prosperity. As a nation, our current savings rate is on the low side, just under 4 percent.* To motivate you to top up your savings, which I wholeheartedly encourage, most of our accounts come with market-leading yields. With 12 savings account options, I’m confident we have one to meet your needs and goals.
Resource 3: Budgeting
Savings alone, without managing expenses, is like taking two steps forward and one step back. That’s why the third and last on my list of essential financial resources is budgeting. Let’s face it: keeping a budget is not our favorite thing. That’s why, to make it simpler and more effective, our interactive guide to better budgeting (find it in our online Financial Education Center) is so helpful. We also have excellent budgeting articles in our Money Matters blog, which I encourage you to check out monthly. Our Financial Wellness Check is another great resource for helping you manage your money. It can identify easy ways to save more and avoid costly financial traps.
I hope these resources help you prepare for whatever comes your way this year. And be assured that whatever happens in 2024, one thing that will always remain the same is our commitment to you, a guiding principle that hasn’t wavered for almost 90 years.
Be happy, stay financially safe and alert, and enjoy time with your loved ones this new year!
