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Catholic Federal Credit Union Financial Fitness Blog

People Helping People

Posted by Bethany Dutcher, VP Marketing on Aug 14, 2014 12:14:41 PM

Do you know why credit unions were first created?

The idea was pretty simple: have people with a common interest (typically folks working for the same employer) join together to loan each other money. It wasn’t to make money, but simply to help each other out in times of need.

This desire to help people in the community is still at the foundation of our beliefs. From fun and fitness to educational and serious, the credit union strives to impact members in the community in a positive way.

We help by providing both man power and financial resources to a wide variety of events and causes. In fact, in 2013 the credit union donated more than $40,000 to nonprofit 501(c)(3) organizations thatprovide food, shelter, counseling, and other miscellaneous needs to people in our community. In addition, our staff members have donated hundreds of hours of their time to a number of different groups.

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Topics: General, credit union

How to Pay Off Your Car Loan Early

Posted by Bethany Dutcher, VP Marketing on Jul 21, 2014 12:39:00 PM

According to the Federal Reserve, the average amount of a new car loan is $26,673 and a monthly payment of $485. Here are simple strategies to pay off your car loan early.

Make Bi-Weekly Payments

By switching to a bi-weekly payment plan, you will essentially be making a payment every 2 weeks for half of the full payment you currently make once per month. With a bi-weekly payment plan, you end up making 26 half payments per year, or 13 full payments. This works out to one additional full payment a year.

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Topics: General, auto, loans

The Most Important Lesson You Can Teach Your Children

Posted by Bethany Dutcher, VP Marketing on Jul 18, 2014 11:48:16 AM

By a show of hands: Did your parents teach you how to balance a checkbook? To use a credit card responsibly? To save for retirement?

If you’re like most people, very few of you raised your hands. In fact, most of us just learned by doing and made a lot of mistakes in the process. (I know I did, and I messed up a lot!)

Here’s the truth: teaching your children about money, budgeting, saving and planning is one of the most important things you can do as a parent. In fact, the earlier you start introducing these concepts, the better.

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Topics: General, Saving, Youth Education

Give Yourself the Gift of Time

Posted by Lynn Brahmer, Member Services on Jul 9, 2014 3:42:01 PM

Do you remember the good old days of driving to the credit union, either waiting in line to talk with a teller or in your car at the drive-thru? I do, and it’s not necessarily a fond memory.  

Now I do all of my banking online; most of it on my phone.

In just the last week, I:

  • transferred money from savings to checking while in line at the grocery store
  • confirmed that my paycheck had been deposited - yeah!
  • paid two bills while waiting in line for the car wash.

All thanks to mobile banking.

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Topics: General, Convenience

How Much Should You Save?

Posted by Bethany Dutcher, VP Marketing on Jun 23, 2014 11:18:02 AM

We all know we should be saving money, right? Of course we do. Just like knowing we should eat more vegetables and fewer cookies. It’s not necessarily fun or easy, but it is good for us.

While there are pretty clear guidelines about what we should be eating, the rules for how much we should be saving aren’t quite as straightforward.

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Topics: General, Saving

Welcome to CFCU's Blog!

Posted by Bethany Dutcher, VP Marketing on Jun 17, 2014 5:10:00 PM

Welcome!

We’re excited about our blog launch because it gives us a great new way to communicate with you, our wonderful members. The success of our Facebook page (3,400+ likes!) proves that our credit union supporters enjoy social media and a blog offers us another way to engage with you in a fun, relaxed way.

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Topics: General

Welcome!

We're happy you're here. Our blog gives us another way to communicate with you in a fun, relaxed way. Don't worry; we won't be selling you anything. We just want to share a more personal part of ourselves so you can get to know the lighter side of the credit union. Our goal is to improve your financial well-being, we'll also share helpful financial tips and recommendations covering everything from students loans to retirement planning, and dream vacations to budgeting, many from our own personal experiences. After all, we're still people helping people, as we have been for 60 plus years. Now we just have more ways to reach out and help. 

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