Personal Finance and Education – With the support from the U.S. Treasury Department's Office of Financial Education, 22 federal entities joined together to build a website to bring financial literacy and education and to provide free, reliable financial information to the American public through the MyMoney.gov Website, and the toll-free 1-888-MyMoney hotline. The Financial Literacy and Education Commission (FLEC) was created by Congress in 2003 through the passage of the Financial Literacy and Education Improvement Act under Title V of the Fair and Accurate Credit Transactions Act of 2003 (P.L. 108-159). Congress designated the U.S. Department of Treasury's Office of Financial Education to lend its expertise and provide primary support to the FLEC, which is chaired by the Secretary of the U.S. Department of the Treasury and composed of 22 other Federal entities.
A budget is an important financial planning tool. It serves as a roadmap for you either to avoid debt or get out of debt. It is hard to plan your finances if you don't know where your money goes.
Meriwest Credit Union encourages all of its members to be credit aware and to access their credit report once annually to check for credit errors and identity theft. The following links may be helpful to you if you have questions about your credit situation.
What would you do if your spouse or your parents suddenly passed away? How would you handle being laid off from your work? What would you do in these emergencies? Life is constantly changing. We can seldom predict what will happen the next day, the next month, or the next several years. Proper financial planning helps smooth out the bumps in our financial highways.
Every parent wants to see their child enter and graduate from college. The 529 College Savings Plans were created to help families save for college without having to pay taxes on the earnings. If 100% of the funds deposited in a 529 College Savings are used for any type of post secondary school education (colleges and trade schools) the earnings are tax free.**
In a way, estate planning is like fishing in the backwoods. You would not go into the backwoods without a professional guide to lead you to the best streams where you find the best fishing. In the case of your estate, your investment advisor is your guide to protecting your family and the nest egg you have grown over the years. A professional investment advisor will be able to direct you to the best products that meet your investment objectives and estate planning needs.
*Please feel free to bring your credit report to your local Meriwest Credit Union Financial Center for a review by one of our Financial Services Representatives.
**Consult a tax advisor regarding your individual situation.
***Security and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency), member FINRA / SIPC. Cetera is under separate ownership from any other named entity. The products offered are not insured by the NCUA, NCUSIF or any other regulatory agency, are not deposits or obligations of, nor guaranteed by the credit union or any affiliated entity, and may lose value. Cetera Advisors LLC, is not affiliated with the Credit Union or Meriwest Wealth Advisors, LLC.