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Setting Financial Goals for 2024 As clichéd as it might be, the start of a new year is the perfect time to put a financial plan in place. Here are five potential resolutions to take on in 2024. Create a budget. While we might be a broken record on this one, we just can’t stop emphasizing the importance of creating a budget! Any financial plan/goal you set will be dead on arrival if you’re not aware of how much you’re making and spending each month. Create an emergency savings fund. While one can never be completely ready for an emergency, like a car repair or medical expense, having three to six months’ worth of expenses set aside may soften the blow. Be sure to only access the money in the case of an emergency! Improve your credit score. A credit score is the all-important number that is a determinant in many financial decisions in your life. Whether you’re shopping for a new car or a mortgage, a higher score typically means better rates. We encourage you to learn about what makes up your credit score, as well as the steps you can take to improve it in 2024. Tip: FCU offers access to your FICO® Score for free! Tackle your debts. Whether it’s creating a debt repayment plan or eliminating it entirely over the course of 2024, there are two widely recommended strategies you can employ: the debt avalanche and debt snowball methods. The former prioritizes paying the debt with the highest interest rate first, while the latter prioritizes paying of smaller debts first before moving on to the next debt. Take a look at your financial situation, and choose the one that works best for you! Start preparing for retirement. It’s never too early to start saving for retirement! It may be hard to live off Social Security alone, so making wise financial moves as early as possible will help you in the end. There are many options such as CDs, IRAs, 401(k), and investments. FCU can help with a free consultation with one of our Financial Advisors. As you set your goals for this year, make sure you’re specific in what you want to accomplish. “I want to save $200 a month” is a much more specific and measurable goal than “I want to save money this year.” Speaking of measuring, make sure you review your goals/finances a few times a year to check your progress and make adjustments. Your plan should be malleable, and you shouldn’t be afraid to make changes when necessary. One last tip: you don’t have to go at this alone! We’d love nothing more than to be your trusted financial partner on your journey to financial independence. Call or click today!
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Beyond the Arc - A Fundraising Campaign The 3rd Annual Beyond the Arc campaign is currently in progress and just like previous years, Florida Credit Union is donating $25 to the Education Foundation of Alachua County, up to $10,000, for each three-point basket made by the men and women’s Florida Gators basketball teams during home or away games. Join us on January 28th as FCU and The Education Foundation will partner to attend the UF women’s basketball game against the University of Texas A&M. 50 tickets donated by FCU will be available to teachers. Tickets are only $10 and can be purchased here. $5 of the ticket price will be donated to the Education Foundation of Alachua County.
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Deadline is February 2, 2024 We are now accepting applications for Florida Credit Union’s 2024 Scholarships! At FCU, we believe in the importance of educational opportunities for our young members. Annually, we award three types of scholarships to students based on their scholastic record, leadership, initiative, character, and financial needs among other qualifications. More information on each scholarship is below: Servin-Ellis Scholarship Fund: The Servin-Ellis Scholarship Fund was established in memory of FCU’s first treasurer/ manager, Oscar Servin. In 1997, the fund was renamed to also honor Dr. Jonnie Ellis, a board member who served from 1987 to 1997, serving as chair from 1993 to 1996. It is open to any high school senior who is enrolled or plans to enroll in the current year in undergraduate study. Buchholz Academy of Finance Scholarship: This scholarship is awarded to one or more Buchholz High School Academy of Finance seniors who are enrolled or plan to enroll in the current year in undergraduate study. Dr. John C. Rawls Scholarship Fund: This scholarship was established in honor of Dr. John C. Rawls, a previous member of FCU’s Board of Directors who served for more than 55 years. It is available to students planning to further their education who are enrolled or plan to enroll in the current year in undergraduate or graduate study. Recently graduated high school students are not eligible. All applicants must either be an FCU member or have a parent/guardian who is an FCU member. If interested in applying, visit flcu.org/scholarships for eligibility requirements and to download or print an application. Applications are due by Friday, February 2, 2024.
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Join Us for Our 69th Annual Meeting We’re owned by members, and your support has allowed us to grow year after year. Please join us to celebrate another successful year of service! Tuesday, February 27, 2024 at 6:00 p.m. Hotel Indigo 5020 SW 30th Lane Gainesville, FL 32608 Any changes to the time or location of the Annual Meeting will be posted in branches and on our website at flcu.org/events. Board Nominations: Mr. Andrew Sutherland and Mr. Lynn P. Jones, Sr.
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Holiday Food Drive Thank you to all FCU members and staff who donated to our 2023 Holiday Food Drive! We were able to donate over 1,300 pounds of food to Alachua County Public Schools, Ocala’s Interfaith Emergency Services, Fort White’s backpack program and more. These donations will help many local families.
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Pet of the Year Winner With nearly 2,200 votes, Tokyo is officially our Pet of the Year! We want to thank everyone who submitted their pets! Because of you, we are donating $5,000 to The Humane Society of North Central Florida, and Gainesville GEICO agent, Ken Castellani has agreed to match this donation. This means $10,000 is going toward pets in need!
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Love FCU? Leave us a Review! If you received excellent service or want to give your favorite employee a shout-out, please leave a review on Google or Facebook for your local FCU branch!
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Thank you for reading the January edition of Florida Credit Union: The Wave! To read past newsletters, please click here.
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*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. FCUMKEM0981-0124
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The information contained in this email (the “Content”) is provided for informational and educational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Content is not intended to be and does not constitute financial, investment, tax or accounting advice or a solicitation to buy or sell securities. The Content is necessarily general in nature and is not specific to you or anyone else. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX OR ACCOUNTING ADVISORS BEFORE IMPLEMENTING ANY ADVICE INCLUDED IN THE CONTENT. By viewing or utilizing the Content, you agree that you will not hold Marquis Software Solutions, Inc., Florida Credit Union or their affiliates or agents responsible for loss or damages resulting from the Content.
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