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Empowering Your Financial Journey: Celebrate Financial Capability Month with Us!

Published: March 28, 2024

Empowering Your Financial Journey: Celebrate Financial Capability Month with Us!

April marks an important observance in the financial community: Financial Capability Month. It's a time dedicated to understanding the ins and outs of personal finance, enhancing our financial literacy, and taking concrete steps towards achieving our financial goals. At USSFCU, we're committed to empowering our members with the knowledge, tools, and resources they need to thrive financially. This month, we're excited to share valuable insights, tips, and opportunities to grow together.

Understanding Financial Capability

Financial capability is more than just having the money to meet your needs. It's about understanding how to manage your finances effectively, making informed decisions that lead to financial stability and independence. It encompasses budgeting, saving, investing, and navigating the complex world of credit and loans—all essential skills for a healthy financial life.

Tips to Enhance Your Financial Literacy

1. Create a Budget That Works for You

Budgeting is the cornerstone of personal finance. It helps you track your income, manage your expenses, and set aside savings. If you've struggled with budgeting in the past, remember, it's about finding a system that works for you. Whether it's the envelope method, a spreadsheet, or a budgeting app, the key is consistency and realism. Not sure where to start? Use this worksheet to calculate your monthly expenses and income to get an idea of what you have to work with, what your commitments are, and what you have remaining to devote to your goals.

2. Set Financial Goals What do you want to achieve?

Whether it's buying a home, saving for retirement, or building an emergency fund, setting clear, achievable goals is crucial. Break your goals down into manageable steps and track your progress. Remember, every small victory brings you closer to your financial independence. Use the CFPB’s planning tool to think about major life events and set savings goals for large purchases, such as buying a car and paying for college. 

3. Understand Your Credit Score

Your credit score is a critical component of your financial health. It affects your ability to borrow money and the interest rates you'll pay. Understanding how your credit score is calculated and what impacts it can help you make better financial decisions. Regularly check your credit report for errors and understand the factors that can improve your score.

  • View Your Credit Score: Access your FICO® Score for free in online banking and understand how your financial choices will affect your score with the easy-to-use score simulator. Learn more at ussfcu.org/fico.

  • Get Your Credit Report: To learn how to get your free credit reports from the major credit bureaus click here.

  • Credit 101: Learn more about credit reports, scores, building and repairing credit by visiting the credit education section of our website.

4. Educate Yourself on Investing

Investing is a powerful tool for building wealth over time. However, it can seem daunting for beginners. Start by educating yourself about the basics—stocks, bonds, mutual funds, and retirement accounts. There are countless resources available, from online courses to financial podcasts, that can demystify investing. Remember, starting small is better than not starting at all.

  • The SEC Website: Check out the education section of the U.S. Securities and Exchange Commission website. It is designed to help investors gain insight into investing and is written in plain English.
  • Investopedia.com: Investopedia.com offers an A-Z explanation of investment terms as well as online education. Several courses are geared to beginners and cover topics such as cryptocurrency, personal finance and trading. One of the best features is the free simulator tool. This allows users to “play” in the market without losing any money. It’s a great way to learn without risk.

5. Seek Professional Advice

While self-education is vital, there's no substitute for professional financial advice. A financial planner or advisor can offer personalized guidance tailored to your specific situation and goals. They can help you navigate complex financial decisions and plan for the future.

  • USSFCU Financial Advisory Services: Professional advisors are available to consult with all USSFCU members on a wide range of topics including financial planning, wealth management, retirement planning, and more. Give them a call, send them an email, or use the button below to schedule a video consultation.

Call: 571.205.1515  | Email: [email protected]

Schedule Now  Learn More

Take Advantage of Our Financial Tools and Resources

We offer a variety of resources to help our members manage their finances more effectively. From financial planning services to educational blogs, we're here to support you every step of the way. Explore our website or contact us directly to learn more about how we can help you achieve your financial dreams.

Remember, your financial journey is unique, and there's no one-size-fits-all approach to managing your money. But with the right knowledge, tools, and support, you can navigate your financial future with confidence. Celebrate Financial Capability Month with us and take the next step toward a more financially capable you.

Article content and third-party links are provided for informational purposes only. 

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Members' Voice Testimonials

This credit union is the best, I love the customer service and you can't beat the interest rates. I'm happy to be a member of this great credit union.

- James · Locust Grove, GA

The branch manager introduced herself and was extremely helpful. She stated that if there is anything we ever need to please let her know. Very positive experience!

- Larry · Cumberland, MD

Greta was absolutely amazing - as always. She makes me and my parents feel valued and supported. We are forever grateful. [The Credit Union] has been hugely supportive over many years. And we feel known and cared for.

- Eliza · Washington, DC

Long as I have been with the credit union, I haven't had any problems. I also like the protection on my account.

- Charles · Upper Marlboro, MD

My overall experience at the credit union was exceptional. The staff was hospitable offering water, my service was timely and professional and the office was well lit and clean.

- Denise · Washington, DC

As a member for more than 40 years, i have always had great service from the USSFCU and know that they stand behind their great reputation.

- David · Silver Spring, MD

A top rate Credit Union, [I'm] privileged to be part of! Thank you for all you do for our family! USSFCU Credit Union was able to resolve our financial situation - vehicle, personal loans, customer service/recommendations, within 6 months. We belonged to another credit union for over 20 years, with results not even close to comparison. We switched ...

- Manuel · Bowie, MD

Your people and products are amazing. The recent [online banking] overhaul is phenomenal. [I've] been electronic banking since Tele action phone banking - paying bills with my push button landline decades ago. USSFCU is light years ahead of everyone else in terms of ease of use and client experience!

- Misty · Brookings, OR

I have been a member for more than 30 years. I no longer reside in the DC area but continue to bank with USSFCU because of the ease and the customer service.

- Tamra · Denver, CO

I have been a member for over 50 years, and I have always gotten good service with loans, when I had to have service at a branch, and when I needed to have money sent to me from my savings account. The personnel have always been friendly and treated me with respect.

- John · Fort Washington, MD

I especially appreciate being able to quickly speak with someone (not a robot) and that person has always been knowledgeable and helpful.

- Bernard · Richmond, VA

Excellent customer service streamlined and transparent process. The representatives are efficient, knowledgeable, and understanding of the type of loans offered by Credit Union.

- Erwin · Ellicott City, MD

The USSFCU behaves as a credit union ought to behave. The staff works with and for the members, not for a corporate board. Interest rates for a car loan, a home improvement loan, and a mortgage are low and terms are transparent.

- Ruth · Takoma Park, MD

Staff are courteous and friendly to work with. Very knowledgeable about services and products offered or available. Excellent follow-up with customers.

- Jacquelyn · Sanford, FL

I have appreciated USSFCU services for many years since I left my work on Capitol Hill. I have appreciated the occasional webinars on purchasing a home or retirement planning.

- Jamie · Washington, DC

I have been a member since 2006, and have always appreciated the customer service response to any concern or query. In addition, as I have traveled extensively, USSFCU has provided support and access.

- Kathleen · Ukiah, CA

I've had a credit union account for decades, even though I no longer work on Capitol Hill. I now have two accounts. I've been able to do all of our banking remotely, by app or by phone.

- Richard · Washington, DC

I have been a USSFCU member for almost 20 years. There is nowhere else I want my money to be. I always receive excellent service.

- Nicole · Alexandria, VA

I deeply appreciate the stellar service, the proficiency, the professionalism, and the kindness. I am truly honored and grateful to bank with a financial institution that treats customers like family.

- Angela · Alexandria, VA

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