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CUGA CONNECT - Membership Newsletter
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MEMBER SPOTLIGHT Thank you to Kelley M. for the kind words about Credit Union of Georgia! Our Mission is to serve our local communities by providing financial solutions and guidance for every stage of life. We are your Credit Union! Better Banking. Better Benefits. Better Believe It.
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IN THE COMMUNITY Winning Best of Cobb for the fourth year in a row is an honor. Thank you to all of our loyal members and communities that have put their trust in us. We love serving our communities - we could not do this without you! Click Here to Read More
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SAVE THE DATEHT Sunday, May 8th:
Mothers Day Wednesday, May 11th:
Webinar: Vacationing On a Budget
Register Here Monday, May 21st:
Armed Forces Day Monday, May 30th:
Memorial Day
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WAYS TO SAVE RATE BUSTERS Let us beat your auto loan rate by 1% APR* or more! Rates as low as 1.99% APR* for up to 72 months Everyone likes to save money! Now is the perfect time to take a look at your existing auto or recreational vehicle loan that is not currently financed with the Credit Union. Chances are we could save you a pretty significant amount of money over the course of your loan. When you refinance your current auto loan with the Credit Union, we’ll beat your rate by up to 1% APR* or more.
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President/CEO'S MESSAGE I recently celebrated my 14th year with Credit Union of Georgia, I thought back to where I was, where our communities were, and where the Credit Union was when I first started. We have all grown, together (including a few more gray hairs). I enjoy seeing how much our communities have come together and developed, along with the Credit Union over the last 14 years. Without our members, we would not be where we are today. Our Credit Union of Georgia team members along with myself are extremely grateful to you, our members. A lot of things have changed but our mission remains the same “To Serve our Local Communities” and we would not be where we are today without you. Thank you for your continued membership and loyalty!
As we enter the month of May and Military Appreciation Month, we want to take a moment to thank all of our military service men and women, past and present! There are no words to express the gratitude we have for each and every one of you. We also want to wish everyone a very happy Memorial Day this year as we celebrate and remember these individuals. Thank you for Choosing Credit Union of Georgia - Brian Albrecht, President / CEO
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Exciting News! We are issuing new Visa Debit, ATM and Health Savings Account Cards in the coming months! More details coming soon, but be on the lookout for an exciting new look!
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Age Your Way: 5 Tips to Manage Today’s Financial Challenges While each retiree’s dream might be different, today’s senior citizen typically looks forward to making time for family, hobbies, and travel. Today’s rapidly rising prices might cause seniors to put those dreams on hold. Check out tips that can help seniors even in the midst of rising prices and financial uncertainties:
Create or Revisit The Household Budget
Is there a realistic plan for the income that comes in each month? Be sure there is a line item in the monthly budget for key living expenses like housing, groceries, healthcare and medications, car maintenance, gas, and savings. If seniors haven’t been following a budget, take time to create one, no matter how simple, to track expenses in order to go back, review, and adjust as needed.
Take a Critical Look at Spending Most people find they are spending more on the essentials — housing, healthcare, food, insurance, utilities and transportation. Consider temporarily reducing spending on traveling, gifts, restaurants or other discretionary expenses. Are any significant purchases on the horizon? Is It possible to postpone major purchases like an appliance or other large item? If a washing machine or other appliance needs to be replaced in the coming months, try to set aside cash now so when the time comes to replace it, using credit isn’t the only option. Shop smart at the grocery store. Plan meals and stick to your shopping list. Stock up on staples. Use coupons and discounts. Take advantage of discount gas prices, bulk grocery prices and other low prices available from membership stores.
Consider Supplementing Monthly Income Is monthly cash outflow greater than monthly income? Consider supplementing income with part-time work or a side hustle. Use career skills for freelancing, consulting, or contract work. Turn a hobby into an income stream – writing, crafting, photography, art, or cooking and baking. Become a Lyft, Uber, or DoorDash delivery driver. Consider temporary work as a customer service representative, childcare worker, house or pet sitter, or an online tutor. Look at Housing Options Many seniors are looking to sell their home at today’s high home values and buy a smaller home (with lower utility costs, property taxes, and insurance), or relocate to a less expensive area. A reverse mortgage is an option available to homeowners aged 62 and older to borrow against their home’s equity without having to make monthly mortgage payments. Seniors can choose to take funds in a lump sum, line of credit, or through structured monthly payments. A reverse mortgage can be a sensible option for seniors with sufficient income to cover basic expenses, including property taxes and insurance, who want to stay in their home.
Get a Handle on Debt
Many seniors find it hard to manage rising prices when struggling with high credit card debt or other debt. The longer a borrower carries a high interest credit card balance, the bigger bite it takes out of available monthly income. Consider a debt payoff strategy, such as a Debt Management Plan which helps pay off unsecured debt, in full, in 3 to 5 years. A trusted national nonprofit agency like GreenPath Financial Wellness works with creditors to bring accounts current, lower interest rates, and waive fees. More of the monthly payment goes toward reducing your account balance and you save money on interest. Connect with a Financial Counselor If seniors, or anyone, feels anxious about their finances in the face of rising prices, or overwhelmed with debt and unsure how to manage, GreenPath is ready to help. Certified counselors look at people’s entire financial picture and suggest options tailored for each situation. This article is shared by our partners at GreenPath Financial Wellness, a trusted national non-profit. Click Here for the GreenPath | Credit Union of Georgia Webpage
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