Need we say it? It’s that time of year again! Tax season. With this in mind, it is a great time to review all the financial wellness tools, and other helpful offerings that we have available on The Family Credit Union (TFCU) website to help you navigate this tax season.

It is our hope that we can help make your life a little bit easier. Let’s break down what is available, and where you can find it:

The Family Credit Union’s Financial Wellness Center

Your financial well being is our priority! That is why we have resources available to you this tax season in our Financial Wellness Center. In order to help answer your tax related questions, you can read the following articles:

• Federal Income Taxes
• Completing a Tax Return
• Tax Brackets and Statuses

In addition, we also offer a Withholdings Calculator, available in our Financial Wellness Center. Federal Income Taxes are withheld from your paycheck by your employer. At tax time, you’ll determine whether you owe more or have over-paid and get a refund. This calculator will help you determine how much is being withheld as a percentage and monthly dollar amount.

• Federal Income Tax Withholding Calculator

The Wellness Center Coach

Another great resource that is part of our financial wellness center is the Wellness Center Coach. Here you will find short, information packed, learning sessions. Related to tax season, you will find the coaching session called “Your Tax Return Pre-Game“. Get the information you need to get prepared to file your taxes, so that filing is smooth and easy this year.

Additional Resources from TFCU

After you have visited our financial wellness center, you can also access additional resources available on our website to assist you this tax season. We have TurboTax at your fingertips on the site, to easily provide you access to personal filing. You’ll get your biggest possible refund and be confident your taxes are done right.

If you find that you owe a tax payment after completing your tax return, The Family Credit Union also offers personal loans to pay help off what you owe. If you would like more information about a personal loan, contact a branch near you or apply online!

This tax season, rely on your local The Family Credit Union to help you every step of the way. Our commitment, is to you, our members! Access our financial well-being center any time you need tools and information to help you become more informed and financially savvy. We cover all the financial topics that you care most about!

April isn’t just about spring blooms and warmer weather—it’s also Financial Literacy Month, a time dedicated to raising awareness about the importance of understanding personal finances and building smart money habits.

At The Family Credit Union, we’re passionate about financial wellness for all ages. This month, we’re highlighting tools, tips, and programs to help you strengthen your financial knowledge and reach your goals—whether you’re just starting your financial journey or looking to fine-tune your strategy.

Why Financial Literacy Matters

Education

Financial Literacy Month is the perfect time to dive into essential topics like budgeting, saving, investing, managing debt, and protecting your personal information. Whether you’re brushing up on the basics or exploring new tools, resources like Banzai and Zogo offer fun, interactive ways to learn.

Empowerment

When you understand your finances, you gain control over your future. From setting a budget to planning big purchases or saving for retirement, knowledge truly is power. Our members have access to financial coaching, helping them make confident, informed decisions every step of the way.

Protection Against Scams

In today’s digital age, financial scams are prevalent and evolving. Financial literacy equips individuals with the skills to recognize and avoid scams, protecting them from fraud and loss. By educating ourselves about common scams and best practices for secure financial behavior, we can safeguard our financial assets and personal information.

Support for Young Savers and Young Adults

We’re making financial education fun and accessible for younger generations too!

• Kids can join Kirby Kangaroo for fun games, savings incentives, and cool rewards.

• Teens and young adults (up to age 26) can open a Young Adult Checking Account with 2.50% APR and no minimum balance.

Celebrate Financial Literacy Month with TFCU!

Join us this April as we celebrate with tips, tools, and fun ways to learn about saving, spending, and borrowing smarter. We’ve partnered with Kirby Kangaroo and WQAD for a Coloring Contest to help kids get creative and learn about money—plus a chance to win a $25 gift card!

Follow us on Facebook for daily tips, games, and updates all month long. Happy Financial Literacy Month!

Building a strong financial foundation is key to long-term success. At The Family Credit Union, we believe economic stability rests on four essential pillars: Spend, Save, Borrow, Plan.

Spend

The overall goal of the spend pillar is simple: spend less than you earn. To do this, however, requires creating a budget that both accomplishes this goal and is realistic. Budgeting for gas only works if your number is realistic. Make sure it will cover your commute for the entire month.

Follow these simple steps to create a budget that supports your goals and builds financial stability:

1. Gather Information: Use bank statements and credit card bills for the past two months to get a better understanding of how much you are spending and saving in a given month.
2. Organize the Information: Group expenses by category: housing, groceries, dining out, gas, entertainment, clothing, medication, etc.
3. Set a Realistic Spending Goal: While it is admirable to want to be able to save a lot, especially if you have a specific goal in mind, creating a budget that does that on paper does you no good if you aren’t going to be able to meet the spending goals.
4. Look for areas of potential savings: Some might jump off the page. Do you have gym membership you use once a month? A streaming service you subscribed to for one show that has since been canceled? Others might require moderating spending in certain areas, like dining out two nights a week instead of five.
5. Set a Budget that is Realistic: Budgeting isn’t about cutting out all fun spending or seeing how little you can spend. It’s about creating a realistic spending plan to help you reach your financial goals. If you cut out all the things you love doing, the chances of you actually sticking to the budget long-term drop.
6. Pay Your Bills on Time:> While some surprises can pop up, many bills come regularly, be it weekly, annually or somewhere in between. Make sure in your spending plan that you account for when these bills are due so you have enough funds to pay all of them on time.
7. Follow Through: While the process of budgeting has its own rewards (knowing how much you are spending and where), the biggest benefits are seen when you stick to the spending plan.

Read more about budgeting.

Save

If you spend less than you earn, that leads into the second pillar, saving.

While it sounds simple, there are ways to become more successful at saving.

1. Establish a Purpose: What are you saving for? A vacation? An emergency fund? Paying off a debt faster? Regardless, having a clear purpose for your saving makes it easier to hold yourself accountable and stick with your goals.
2. Define a Goal and a Timeline: How much do you want to save and by when? In some cases, such as a planned vacation, the timeline might be clear. In other cases, though, the timeline might be there to ensure you are hitting benchmarks on your way to longer term goals.
3. Start Small and Gradually Increase Your Target: Starting too large can be daunting. By hitting smaller targets you can build momentum and set yourself on the path to hitting larger ones.

Read more tips, including how best to use savings account tools to reach your goals.

Borrow

Establishing good credit is important. It can help you with everything from getting a credit card to securing a car loan or mortgage.

It’s difficult, however, to build or rebuild good credit if you do not have credit.

That is why it is important to borrow, even if it is just on a credit card that you pay back every month. This can help you improve your credit score to increase your chances of being accepted for or getting better rates on a loan for a larger purchase later.

If you don’t have credit or have poor credit and can’t get a typical credit card, a secured credit card could be a good option. You make a deposit and then that becomes your credit limit. Payments on it are reported to the credit bureaus, allowing you to gradually build your credit to the point where you can get an unsecured card.

The key to borrowing, however, is to do it wisely. Try to pay off your credit cards monthly rather than carrying a balance and don’t take out loans that it will be difficult to pay off. Borrowing the right way can help you achieve your long term financial goals. Borrowing the wrong way will only cause problems long term.

Read more tips about borrowing.

Plan

Having a long term financial plan is important. It can help you achieve your goals and remove one source of stress if life throws you a curveball.

The key is working toward financial freedom. That means things like:

• Having an emergency fund so unexpected expenses or job loss don’t derail your financial security.
• Personalizing your financial goals to focus on things that are important to your life.
• Having insurance to prevent major expenses from derailing your savings.

More than anything, planning is about setting goals to help you achieve the financial future that you desire.

Read more tips about financial planning.

Want Help Achieving Your Financial Goals to Reach Economic Stability?

If you’re looking for guidance on becoming financially healthy, reach out to TFCU. We are happy to help reach economic stability by helping you set credit or savings goals, manage debt, or build a better budget.

Hispanic Heritage Month, celebrated from September 15th to October 15th, is a time to honor the culture, history, and contributions of the Hispanic community. The Family Credit Union is proud to serve our Hispanic members year-round by providing Spanish financial resources that are accessible, inclusive, and tailored to the needs of our diverse community.

El Mes de la Herencia Hispana, que se celebra del 15 de septiembre al 15 de octubre, es un momento para honrar la cultura, la historia y las contribuciones de la comunidad hispana. Family Credit Union se enorgullece de servir a nuestros miembros hispanos durante todo el año al brindar servicios financieros accesibles, inclusivos y adaptados a las necesidades de nuestra diversa comunidad.

Financial Resources with Spanish Translation

We know that navigating financial tools and services in your preferred language can make a big difference in your banking experience. That’s why we offer several key resources with Spanish translation options, ensuring that our members can access the information they need with ease:

• Our Website: You can explore all of our services online with Spanish translation options available. Whether you’re looking for information on checking accounts, loans, or financial wellness tips, our website is designed to accommodate both English and Spanish speakers, making financial management simpler and more accessible.
• Banzai: Banzai is our interactive financial education platform that offers free, engaging courses on budgeting, saving, and smart money management. With full Spanish translation, Banzai empowers our members to take control of their finances in a way that’s fun, easy to understand, and in a language they’re comfortable with.

Empowering Our Community Every Day

At The Family Credit Union, our commitment to the Hispanic community goes beyond Hispanic Heritage Month. We believe in providing accessible financial services for all of our members, and we’re proud to support your financial goals with tools and services designed to make managing your money easier.

Our bilingual website and Spanish versions of Banzai is just a few ways we ensure that language is never a barrier to accessing financial education and services. From opening accounts to improving your credit, we’re here to help you every step of the way.

Join The Family Credit Union

We are committed to being a financial partner you can trust, providing resources and services that meet the diverse needs of our members. Whether you’re looking to improve your credit, learn more about budgeting, or explore financial tools in Spanish, we’re here to support you on your financial journey.

Contact us today to learn more about how we can assist you, or visit our website to access our bilingual resources and start your path to financial success.

October is Cyber Security Awareness Month, a time dedicated to promoting safer online habits and protecting yourself against cyber threats. In an era where more financial transactions are conducted online than ever before, cyber security is essential to ensuring the safety of your assets, your identity, and your financial future. Whether you’re using online banking or are a member of The Family Credit Union, understanding the relationship between cyber security and your online financial activities is crucial.

The Importance of Cyber Security in Online Banking

Online banking offers convenience and flexibility, allowing you to manage your accounts, transfer funds, and even apply for loans from your home or on-the-go. However, with this convenience comes the responsibility to protect yourself against cyber threats such as identity theft, phishing scams, and data breaches.

Cyber criminals constantly evolve their tactics, seeking vulnerabilities to exploit sensitive information. According to the FBI’s Internet Crime Complaint Center (IC3), financial losses due to cybercrime have been steadily increasing year over year. That’s why strong cyber security practices are essential to safeguarding your digital financial life.

Why Credit Union Members Need to Stay Vigilant

Members of credit unions, like you, our valued members, benefit from community-oriented service and a focus on personalized financial well-being. But this also means that cyber criminals see credit union members as valuable targets due to their connection to trusted, often smaller, financial institutions.

At The Family Credit Union, we prioritize member education on security, but each individual must take proactive steps to ensure your own online safety. Here’s what you need to know:

• Phishing and Spoofing Scams: Phishing scams trick individuals into revealing sensitive information like account numbers and passwords by pretending to be a legitimate entity. Look for signs such as unfamiliar email addresses, urgent language, or suspicious links. Never provide personal information unless you are certain of the recipient’s identity.
• Social Engineering: Cyber criminals may pose as family members or credit union employees, asking for verification of your login details. Always double-check the source of such requests and avoid sharing sensitive data over the phone or through unsecured email.
• Account Takeovers: Account takeover attacks occur when a criminal gains unauthorized access to your account, often through weak passwords or unprotected devices. Once in, they can transfer funds, change your account information, and potentially steal your identity.

Best Practices for Staying Safe While Banking Online

To ensure your finances are protected, consider adopting these cyber security tips:

• Use Strong, Unique Passwords: A strong password includes a mix of upper and lower case letters, numbers, and special characters. Avoid using easily guessable information such as birthdays or family names. Additionally, create unique passwords for each account to minimize damage in case of a breach.
• Enable Two-Factor Authentication (2FA): Two-factor authentication adds an extra layer of security by requiring a second form of verification, such as a code sent to your phone, in addition to your password.
• Regularly Monitor Your Accounts: Keep an eye on your accounts for any unauthorized transactions. Report suspicious activity to The Family Credit Union immediately.
• Update Software and Devices: Cyber criminals often exploit outdated software. Keep your banking app, operating systems, and antivirus software up-to-date to protect against the latest threats.
• Use Secure Networks: Avoid logging into your online banking account over public Wi-Fi, which can be vulnerable to interception. If you must access your account remotely, use a VPN (Virtual Private Network) for added security.

How The Family Credit Union Keeps You Safe

At The Family Credit Union, we are committed to protecting our members’ financial information. Our online banking platform uses advanced encryption methods and secure log-in processes to keep your data safe. Additionally, we provide educational resources to help our members understand potential threats and adopt best practices for online security.

If you’re ever unsure about a suspicious email, call, or transaction, reach out to us directly to verify its authenticity. We’re here to support your financial well-being, both in person and online.

Take Action: Stay Safe This Cyber Security Awareness Month

This October, take a moment to evaluate your own cyber security habits. Small changes can have a big impact on keeping your finances secure. Whether you’re banking online, using mobile apps, or managing your investments, remember that staying informed and vigilant is your best defense against cyber threats.

For more information on how to protect yourself or to learn more about The Family Credit Union’s security measures, contact us today.

When it comes to buying a home, one of the most important factors that lenders consider is your credit score. Your credit plays a crucial role in determining your eligibility for a mortgage, the interest rate you’ll receive, and ultimately, your ability to purchase your dream home. At The Family Credit Union, we understand the importance of a strong credit score in achieving your homeownership goals. Let’s look at the specifics of how your credit affects home ownership and how we can help you improve it.

The Importance of Credit in Home Buying

Mortgage Eligibility

Your credit score is a key determinant of whether you’ll qualify for a mortgage. Lenders use your credit score to assess your financial responsibility and risk. A higher credit score indicates that you’re a reliable borrower, which increases your chances of being approved for a mortgage.

Interest Rates

Your credit score doesn’t just affect your ability to get a mortgage; it also impacts the interest rate you’ll pay. Generally, the higher your credit score, the lower the interest rate. Even a small difference in interest rates can translate into significant savings over the life of your mortgage. For instance, a lower interest rate can reduce your monthly payments and the total amount paid over the term of the loan.

Loan Terms

Lenders may offer different loan terms based on your credit score. A higher credit score might give you access to more favorable loan terms, such as lower down payments, reduced fees, and more flexible repayment options.

How Your Credit Score is Determined

Your credit score is calculated based on several factors, including:

• Payment History: Your record of on-time payments is the most significant factor. Late or missed payments can negatively impact your score.
• Credit Utilization: The amount of credit you’re using compared to your total available credit. Keeping your credit utilization below 30% is generally recommended.
• Length of Credit History: A longer credit history can positively influence your score, showing that you have experience managing credit.
• Credit Mix: Having a variety of credit types (e.g., credit cards, loans) can be beneficial.
• New Credit Inquiries: Opening several new credit accounts in a short period can lower your score.

Steps to Improve Your Credit Score

If your credit score needs improvement, don’t worry. There are steps you can take to boost it:

1. Check Your Credit Report: Obtain a copy of your credit report from the major credit bureaus (Equifax, Experian, and TransUnion). Review it for any errors or inaccuracies and dispute them if necessary.
2. Pay Your Bills on Time: Consistently making on-time payments is one of the best ways to improve your credit score. Set up automatic payments or reminders to help you stay on track.
3. Reduce Credit Card Balances: Aim to keep your credit utilization below 30%. Pay down high balances and avoid maxing out your credit cards.
4. Avoid Opening New Credit Accounts: Each new credit inquiry can temporarily lower your score. Only apply for new credit when necessary.
5. Keep Old Accounts Open: The length of your credit history matters. Keep older accounts open, even if you don’t use them frequently, to maintain a longer credit history.

How We Can Help with Your Credit and Home Ownership

At The Family Credit Union, we offer a range of services designed to help you improve your credit score and achieve your financial goals. Our credit improvement services and financial coaching are tailored to provide you with personalized guidance and support.

Credit Improvement Services: Our team can help you understand your credit report, identify areas for improvement, and create a plan to boost your credit score.

Financial Coaching: Our financial coaches provide one-on-one sessions to help you develop healthy financial habits, manage debt, and make informed decisions that positively impact your credit.

The Family Credit Union is Here for You

Your credit and home ownership go hand in hand. By understanding how your credit score impacts your mortgage eligibility, interest rates, and loan terms, you can take proactive steps to improve your credit and increase your chances of securing favorable mortgage terms. The Family Credit Union is here to support you every step of the way. Start by reviewing your credit report, making on-time payments, and managing your credit responsibly. With our help, you’ll be well on your way to owning your dream home.

What is College Savings Day?

Hey there, savvy savers! May 29th is College Savings Day (or 529 Day), and it’s all about getting a jump start on saving for college. Think of it as a yearly nudge to remind you to stash away some cash for your kid’s future. And why May 29th? This day, cleverly chosen to correspond with the 529 college savings plan—your secret weapon in the battle against sky-high tuition costs!

The Rising Costs of College

Let’s talk numbers! In 2024, the average annual tuition and fees are $11,260 for in-state students at public colleges and $29,150 for out-of-state students. If you’re looking at private colleges, the average tuition and fees are a whopping $41,540​ (College Tuition Compare)​​ (CollegeData)​. Add in room, board, and other expenses, and the total cost can be quite daunting. But don’t worry, with a little planning and some savvy saving, you can make it happen!

How to Plan Ahead for College

College can be expensive, but planning ahead can make it more manageable. From savings plans to financial aid, here are key options to consider:

Financial Aid & Student Loans
Explore financial aid through your college’s office or online tools like the Department of Labor’s free scholarship search. TFCU partners with Sallie Mae® to offer student loans with:

• Competitive interest rates
• Multiple repayment options
• No origination fees; no prepayment penalty
• Smart Option Student Loan® for Undergraduate Students
• Parent Loans

College Savings Options

Start saving early with these flexible plans:

• 529 College Savings Plans: These plans are like the superheroes of college savings. They grow tax-free and can be used for a variety of education expenses.
• Coverdell Education Savings Accounts (ESAs): Think of these as 529 plans’ cute little cousins. They come with lower contribution limits but are still tax-friendly.
• Savings Bonds: Good old savings bonds are a safe bet and can be tax-free if used for education.
• Custodial Accounts (UTMA/UGMA): These accounts let you put away assets for your child, which they can use when they reach adulthood.
• Regular Savings Accounts: They might not come with tax perks, but they’re straightforward and flexible.

By combining savings and financial aid, you can ease the cost of college. The Family Credit Union is here to help—reach out today to learn more!

How Much Can You Save by Setting Aside $100 a Month?

Having a savings account is an essential step in building a secure financial future. After landing your first job, make it a habit to set aside a percentage of your income into savings each month. It doesn’t have to be a large amount, but the goal is consistency. Over time, this small habit will grow, and you’ll have a financial cushion for emergencies. Whether you need money for unexpected college costs or a future trip, saving regularly gives you peace of mind and prepares you for life’s surprises.

Let’s do some math! If you start saving $100 a month from the time your baby is born until they turn 18, you’ll have a nice chunk of change waiting for them. Assuming an average annual return of 6%, you’d save about $38,000. Here’s the breakdown:

• Monthly Savings: $100
• Years of Saving: 18
• Total Contributions: $21,600
• Estimated Future Value: ~$38,000

That’s a solid start toward covering those college costs, all thanks to the magic of compound interest!

The Family Credit Union offers great savings account options for students, allowing you to start building your financial foundation as you transition into college life. The earlier you start saving, the more financial security you’ll have down the road!

Additional Tips for Success in College

In addition to your financial planning, here are a few more tips to help you succeed in your college journey:

• Stay Organized: Keep track of important dates like tuition deadlines, assignment due dates, and exams. Staying organized can help you avoid unnecessary stress.
• Live Within Your Means: Avoid taking on too much debt. It may be tempting to splurge, but managing your expenses and avoiding unnecessary purchases will help you avoid financial strain.
• Consider Campus Resources: Many colleges offer free financial counseling, budgeting workshops, or student discounts. Take advantage of these resources to stretch your budget further.
• Invest in Experiences: While it’s important to save, don’t forget to allocate some of your budget for experiences like studying abroad or attending campus events. These moments will enrich your college life.

How The Family Credit Union Can Help with College Savings

We’re here to make your college savings journey as smooth as possible. Here’s how:

1. Savings Accounts: Open a savings account specifically for college savings. Watch your money grow!
2. Financial Coaching: TFCU’s free Financial Wellness service offers personalized guidance to help you budget, build credit, and reach your money goals.
3. Student Loans: Our student loans are designed for the needs of undergraduates and graduate students.
4. Financial Education: Check out our fun and informative resources like Banzai and Zogo to learn all about saving and budgeting.
5. College Scholarships: See our list of potential college scholarships to apply to.
6. Coverdale Education Savings: This account allows for saving for a child’s education expenses through nondeductible contributions, offering the potential for tax-free withdrawals..

College Savings Day is your yearly reminder to get serious about saving for college, but it doesn’t have to be a chore. With the right strategies and the support of The Family Credit Union, you can make saving fun and effective. Start today, and give your child the gift of a brighter future. Happy saving!

Welcome to spring, the season of renewal and rejuvenation! Just as we refresh our homes during spring cleaning, it’s also the perfect time to spring clean your finances. At The Family Credit Union, we believe that organizing your money is essential for a healthy financial future. Let’s delve into why financial decluttering matters and explore practical steps to get your finances in order this spring.

Why Financial Decluttering Matters

Just like clearing out clutter from your living space can bring a sense of calm, decluttering your finances can reduce stress and pave the way for better financial health. Spring is an opportune moment to review your budget, reassess your financial goals, and ensure you’re on the right track for the rest of the year. If you set New Year’s financial resolutions but have found yourself off course, don’t worry! Spring presents a great opportunity to re-evaluate those goals and restart with renewed vigor.

Practical Steps for Spring Financial Cleaning

1. Review Your Budget: Take a close look at your income and expenses. Are there areas where you can cut back or save more? Use a budgeting tool or consult with our financial coach to fine-tune your budget for maximum efficiency.
2. Set New Financial Goals: Spring is a great time to set fresh financial objectives. Whether it’s saving for a vacation, paying off debt, or boosting your retirement fund, establishing clear goals will guide your financial decisions.
3. Utilize Financial Coaching: TFCU’s free Financial Wellness service offers personalized guidance to help you budget, build credit, and reach your money goals..
4. Explore Christmas Club Accounts: If you haven’t already, consider opening a Christmas club account. It’s never too early to start saving for the holidays, and our club accounts offer a convenient way to set aside funds throughout the year.

Ready to Spring Clean Your Finances?

Don’t let another season pass without taking control of your financial well-being. Explore our financial resources, and start your journey towards financial freedom this spring. Together, let’s organize your money, set meaningful goals, and pave the way for a brighter financial future. Let’s make this spring a season of financial renewal!

Financial literacy is a fundamental skill that can shape a child’s relationship with money for life. Research suggests that by age 3, your kids can grasp basic money concepts and by age 7, many of their money habits are already set. This makes early education about finances crucial. As we observe Credit Union Youth Month, let’s explore how parents can raise money smart kids from a young age.

Starting Early- The Power of Childhood Education

By age three, children can already grasp basic money concepts. This early age is the perfect opportunity for parents to introduce simple ideas like waiting to buy something they want, teaching delayed gratification that is vital for financial success.

By age seven, many of a child’s money habits are already set. This underscores the importance of starting financial education at a young age to establish positive money behaviors early on.

Age-Appropriate Financial Lessons

Financial education should evolve as children grow. Here’s a breakdown of age-specific financial activities parents can implement:

Ages 3–5: Introducing Money Basics

At this age, it’s all about simple, hands-on experiences.

• Savings Jars: Use labeled jars for “Saving,” “Spending,” and “Sharing” to teach the concept of budgeting. Let them physically divide allowance or gift money.

• Play Pretend Store: Use play money and items from around the house to help them understand transactions and the idea of value.

• Saving for a Goal: If your child wants a toy, use a chart to track progress as they save toward it. This teaches delayed gratification.

• Story Time with Money Books: Read age-appropriate books to spark conversations about spending and saving.

Ages 6–10: Building Awareness and Responsibility

Kids are ready for more responsibility and basic financial choices.

• Allowance with Expectations: Give a small, regular allowance in exchange for simple chores to show that money is earned.

• Spending Choices: Let them choose between items within a set budget during shopping trips to understand trade-offs.

• Savings Goals: Help them create a small goal—like buying a toy or book—and track progress with a visual savings chart.

Ages 11–13: Introducing Planning and Growth

Tweens are ready to explore more complex financial concepts.

• Set Long-Term Savings Goals: Encourage them to save for bigger items (bike, electronics) and map out a plan to reach it.

• Teach Interest: Show how money can grow by using a compound interest calculator or savings account statement.

• Track Spending: Have them keep a spending journal for a week to identify habits and reflect on wants vs. needs.

• Digital Learning Tools: Introduce educational apps like Zogo, which offers gamified financial lessons and rewards.

Ages 14–18: Preparing for Financial Independence

Teenagers need real-world practice managing money.

• Create a Budget: Help them plan monthly budgets using part-time job income, allowance, or gift money—include saving, spending, and giving.

• Open a Checking Account: Consider a teen-friendly or young adult checking account that earns interest and teaches account management.

• Use a Debit Card: Teach them how to monitor balances, avoid overdrafts, and review statements.

• Talk About Credit: Start conversations about how credit works, credit scores, and the importance of using credit wisely.

• Discuss College Costs: Go over tuition, fees, and living expenses. Introduce FAFSA, scholarships, grants, and student loan basics.

Bonus Tips for All Ages:

• • Lead by Example: Talk openly about your own budgeting, saving, and charitable giving.

  • Celebrate Milestones: Acknowledge when they hit a savings goal—it reinforces positive habits.

  • Use Visuals: Charts, stickers, and savings trackers are motivating and help kids see progress.

Beyond Saving: SGSG Approach

To raise financially savvy individuals, consider using the “SGSG” approach, coined by financial expert Jeanie Ahn. This acronym helps children understand the four pillars of personal finance:

• Save: Teach the importance of saving a portion of all received money, whether from gifts, allowances, or earnings.
• Grow: Introduce the concept of investment and how money can grow over time through interest or other forms of returns.
• Spend: Help kids learn how to spend money wisely by budgeting and making informed decisions to prevent overspending.
• Give: Encourage philanthropy and giving back, helping children understand that money can also be used to support causes and help others in need.

Saving with The Family Credit Union

The Family Credit Union’s Kirby Kangaroo Club helps kids build good savings habits early. With a $25 minimum deposit, members receive special gifts, invitations to events, and earn higher dividends starting July 1, 2024:

• 2.00% APR on balances $0-$4,999.99
• 0.75% APR on $5,000-$24,999.99
• 0.15% APR on balances over $25,000

A Lifelong Gift

Teaching children about money at a young age is one of the greatest gifts you can give them. It equips them with the tools and knowledge they need to make sound financial decisions throughout their lives. By starting early and providing age-appropriate financial education, parents can help their children build a strong foundation for a future of financial independence.

For more information on helping your child develop strong money habits, or to learn more about the Kirby Kangaroo Club, visit The Family Credit Union today!

Whether you are just starting out as a young adult, or have been on your own for a long time, understanding financial health and literacy is a key to a secure lifestyle. You may feel confident, or you may be feeling as though you are stumbling around in the dark when it comes to finances. 

TFUC is here to help. What is financial literacy, and what tools are available to get the financial education that you need?

Where do I start to gain financial literacy? 

Financial literacy is the ability to understand and effectively use a variety of financial skills. This includes: 

• Management of your personal finances
• Budgeting 
• Investing 
• Earning 
• Spending
• Borrowing 

At The Family Credit Union we are fully committed to being a part of your financial well-being. We understand that you have to start somewhere in the learning process, and you can start with us. 

Introducing ZOGO

Learning anything new can be daunting, however it does not have to be. Learning financial wellness can actually be fun. TFCU is teamed up with ZOGO, a gamified app that rewards you for taking on your financial education. Get lessons on subjects such as: 

• Smart saving 
• Spending wisely
• Managing your money
• And more! 

As you learn through short modules, you will earn gift cards from your favorite brands. Zogo is available on both Google Play and the Apple App Store. 

TFCU and Your Financial Literacy

With ZOGO, you have a place to start on the road to financial literacy. It does not stop there, as a member of The Family Credit Union, we stand with you as you continue to learn. Our team is here to answer your questions and help you secure your financial future. Stop by and visit one of our branches today!