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Spring 2007
Here’s how we’re partnering with churches in fulfilling their vision for growth and expansion: “Commit to the Lord whatever you do, and your plans will succeed.” Proverbs 16:3 (NIV) Every year, American children receive over $15 billion in allowance, gifts and wages—reason enough to start teaching children about money management and consumer skills at a young age. The best way to teach good financial habits is by example. For instance, when you go shopping, include your kids in the process—planning, budgeting, and comparing prices and quality. If they urge you to buy something that is over budget, explain that spending more on the item you're purchasing today is not as important as saving up for something else you need or want in the future. Kids who learn to prioritize their spending learn a valuable lesson about living within their means. Reinforce that lesson by not jumping for the credit cards or giving extra money just because your children ask. When kids want an expensive “status” item, like hundred-dollar athletic shoes, make them pay the portion of the price that exceeds what you think is reasonable. They'll appreciate the item more and may think twice about paying that much when they outgrow this pair in six months. Encourage your children to make saving a fixed category in their spending plan. Discuss goals and calculate how much should be put away each month. Break down savings into long-term, for college or a car, and short-term, for a new bike. It's never too early (or too late) to develop good financial habits. The rewards of wise money management are the same for adults and children alike—a greater appreciation of what they have, a sense of empowerment to achieve their goals, and long-term financial security. As a credit union member, you have access to BALANCE, a financial fitness program dedicated to helping you achieve your goals. For more information, call 888.456.2227 or visit www.balancepro.net. Smart Start Certificate 6% APY for 12 months (new minor accounts only) Give your child, grandchild or young family members the gift that lasts a lifetime—a Christian Community Credit Union membership. Plus, get a free book and praise CD. The Smart Start Certificate offer is only valid on a minor's first CUTMA (minor) account. CUTMA accounts are irrevocable custodial accounts held for the benefit of a minor. The custodian of the minor must be a member of Christian Community Credit Union. This certificate earns 6.00% APY for 12 months on a minimum balance of $500 and a maximum balance of $2,500. A withdrawal will reduce earnings. A penalty will be imposed on early withdrawal from certificates. Rate effective 01/01/07 to 04/30/07 and is subject to change without notice. When you place your deposits at the Credit Union, you're putting your money to good works. In 2006, 100% of your deposits were loaned back to members of the Credit Union family: pastors, church members, family members, churches and ministries. Need money for college? Our “Focused on the Future” scholarships are open to any member enrolled full-time in an accredited college, university or seminary. Scholarships range from $500 - $2,000. Apply now through July 2, 2007. Whether your spring thing is home improvement or getting your financial house in order, use the built-up equity in your home for a spring makeover! • No points • No annual fees • No processing fee • Online account access Whatever your needs are, Christian Community Credit Union has the right loan for you. Choose from a variety of home loans including a 40-year fixed-rate loan. Let us finance your home and make your dreams come true. Apply online at myCCCU.com/mortgage and get approved in hours. Call our Home Loan Specialist at 800.347.CCCU ext. 6182 for current rates and answers to your questions. Your credit score is a 3-digit number, designed to measure your credit risk. The most commonly used credit score, also called a FICO score, uses 22 pieces of data from the three major credit bureaus (Equifax, Experian and TransUnion) to come up with a number between 300 and 850. Here is the basic formula: What's not included? By evaluating the pertinent factors in your credit score, you can keep that important number as high as possible. For example, it's a good idea to keep your debt ratio fairly low and avoid opening a lot of new credit accounts within a short period of time. Most importantly, since your payment history is given the most weight, always pay your bills on time. To make sure your credit is right on track, contact BALANCE to obtain a credit report and discuss it with a credit specialist. Call 888.456.2227 or visit www.balancepro.net. Is your tax steadily increasing while your earnings continue to decline? Reach for a solution with tax-advantaged investments. We can help you develop a strategy so you can potentially: Contact us and find out how you can reduce the impact of taxes so your earnings can reach higher ground. INVESTMENTS ARE NOT NCUSIF OR NCUA INSURED/ MAY LOSE VALUE/ NOT A DEPOSIT/ NO CREDIT UNION GUARANTEE/ NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. Securities offered through Financial Network Investment Corporation. Member SIPC. Financial Network is not affiliated with Christian Community Credit Union, 101 S. Barranca Ave., Covina, CA 91723. 800.347.CCCU ext. 6127. |
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