What does $1,500 mean to you? No matter your financial situation, $1,500 is significant. It could be a down payment on your next car, a dent in your debt, a furniture upgrade, a step towards retirement, a boost to your emergency fund, or a first-class ticket to New York.
Innovation is a critical skill that allows us to build a bridge between dreams and reality. Here’s how three teachers used SESLOC Education Grants to support innovation:
As we move deeper into the new year, the magic of the holiday may have worn off, and many of our New Year’s resolutions are becoming faded memories. With tax season approaching and the pace of our working lives becoming more and more accelerated, stress can start to take a toll on us emotionally.
Yes, there are steps you can take now that may help your child obtain more financial aid later. All federally funded financial aid programs use a formula known as the federal methodology to determine how much money a family must contribute towards a child’s educational costs before becoming eligible for financial aid. This figure is known as the expected family contribution (EFC). The difference between your EFC and the cost of your child’s college equals your child’s financial need and the less aid your child will be eligible for.
As you review your HomeFREE Checking account and debit card transactions in Online Banking, see how many SESLOC Reward points you’ve earned. One you are logged in, navigate to Services > Rewards Points. If it is the first time you’ve accessed SESLOC Rewards, you’ll be prompted to register. It just takes a minute! Then you can redeem points for merchandise, gift cards, travel experiences and more.
Have you checked your credit report recently? Or ever? Shelli* was doing everything right, but something was dragging down her score — it just didn’t make sense. So she ordered her credit report and found the culprit. There was a delinquent credit card from an account she owned with an ex years ago. She had been removed from it a long time ago, but there it was.
Hand-me-downs are great for starting out on your own, but eventually it’s nice to outfit your home with something that’s truly yours. Every time you use your HomeFREE Checking debit card or Visa® Signature Rewards card, you earn points that can be redeemed for gift cards, appliances, and home decor.
What’s a credit score and why is it so important? A credit score, also known as a FICO Score, is a calculation based on your activity in a few categories that assess the likelihood that you will repay any debt you owe. The higher the score, the more likely it is that you can handle your debt.
Expanding your family with a new furry, feathery, or scaly friend? Whether you’re a first-time pet owner or very experienced, don’t forget to consider the financial impact of a new pet and adjust your budget accordingly.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted in December 2019 as part of a larger federal spending package. This long-awaited legislation expands savings opportunities for workers and includes new requirements and incentives for employers that provide retirement benefits. At the same time, it restricts popular estate planning strategy for individuals with significant assets in IRAs and employer-sponsored retirement plans.
We partner with GreenPath Financial Wellness to offer unbiased, empathetic, one-on-one financial advisement to our members. GreenPath’s certified credit counselors offer free assistance with budgeting, general financial wellness, debt counseling, foreclosure prevention and support, and student loan payment. GreenPath also offers a Debt Management Program where they negotiate with creditors on behalf of members enrolled in the program to reduce interest rates and help them repay debts faster. In 2021, GreenPath’s certified counselors assisted 8 SESLOC members with a combined $161,488 in debt pay off $55,656 through the program — that’s a reduction of outstanding debt by 34% in under a year!
As we enter the new year, we’re reminded of the many GOOD things that happened in 2021. Check it out!
We’re thrilled to announce that our President and CEO, Geri LaChance, was selected by the California and Nevada Credit Union League as the 2021 California Advocate of the Year. Each year, the League honors credit unions, individuals and organizations that display extraordinary leadership in advocacy and political action.
On September 1, 2021, SESLOC supported a call to action from the Credit Union National Association, along with credit unions across the country, to alert our members of a concerning addition to the $3.5 trillion infrastructure spending bill that was proposed in Congress.
On Thursday, October 21, 2021, credit unions around the globe toasted to their members in celebration of International Credit Union Day. Credit unions like SESLOC are not-for-profit, which means we offer affordable loans, lower fees, and many free services to help our member-owners get ahead and achieve financial freedom.