- Endwell, NY – At a recent Credit Union National Association (CUNA) conference, Visions Federal Credit Union and Cynthia Schroeder, Visions' Senior Vice President of Digital Assets, were recognized with awards for excellence in the credit union industry. The awards reflect Visions' commitment to being an industry leader in technology and digital advancements. CUNA's Operations and Member…, About Visions, Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Ref: Visions FCU press release, 2022. View recent news .
- Vestal, NY – Visions Federal Credit Union has moved branch operations at the Town Square Mall into a newly constructed building at 2421 Vestal Parkway East. The move concludes a year-long project to update their Vestal, NY facilities and vacate the lease property that Visions had previously occupied. "Feedback has been great," said Branch Manager Jeremiah Baldwin. "People are excited about the…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Ref: Visions FCU press release, 2022. View recent news .
- Endwell, NY – The African-American Credit Union Coalition (AACUC) recently announced Visions President/CEO Ty Muse as the 2022 honoree of the Pete Crear Lifetime Achievement Award. The Pete Crear Lifetime Achievement Award recognizes "a credit union professional or volunteer whose career best embodies the AACUC's mission to increase the strength of the global credit union community." Muse has…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 220,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Ref: Visions FCU press release, 2022. View recent news .
- Lake George, NY – During the New York Credit Union Association's (NYCUA) Annual Meeting and Convention, the Association recognized Ed Butler, Visions Federal Credit Union's Executive Vice President and Chief Operations Officer (EVP/COO), with the Outstanding Professional Award. NYCUA offers this recognition annually to honor credit union professionals who have a true passion for the industry and…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Ref: Visions FCU press release, 2022. View recent news .
- Getting married is one of those major stages in life. You find that special person to live with, share your life with, and maybe even start a family with. It's a partnership in every aspect of life, including finances and money management. Too often you hear people utter that infamous phrase, "If I only knew then what I know now." We don't want that to happen to you. That's why we have created a…, 1. Get Your Finances Organized, Getting organized and continuing to be organized can mean the difference between financial success and lots of frustration. When you first get married, sit down with your spouse to work on how you want to organize. Get a clear idea of your financial situation. Then decide how you are going to organize your money management and finances. How will bills be paid? Who will handle which tasks? Where…, 2. Set Your Financial Goals, As newlyweds, it's an exciting time. It's also the perfect time to set goals. Having financial goals is key to achieving those things you want in life. Having financial goals with your spouse also gives you a vision and bond that helps you work together., Financial Plans, As the old saying goes, failing to plan is planning to fail. It's held up over time because there's truth in it. It's important to make financial plans based on your goals and the kind of life you want. Have a financial plan. Have questions about making a financial plan? Seek a financial planner that can help., Making a Budget (and Sticking to It), Budgets are incredibly helpful. They say money is a wonderful servant, but a terrible master. Budgets help ensure money is your faithful servant. Many who consistently live within a budget say this habit provides many benefits, including reduced stress. Budgeting is simply the process of telling your money where to go. Some may find budgets to be confining or intimidating. However, making and…, 3. Combine Your Accounts, When you get married, it's a good idea to combine accounts. Since you and your spouse will be working on your finances together, having your accounts combined can make your money management easier and more effective. Plus, it helps create better communication with each other., 4. Communicate with Your Spouse, In order to stay on track and avoid financial pitfalls and traps, make sure to communicate well with your spouse. Discuss financial matters regularly and be clear, open, honest, and respectful. Doing this often makes a big difference in money management. It also makes money management more enjoyable., 5. Manage Costs and Live within Your Means, This is just common sense. Everyone knows that they should spend less than they earn. In real life, however, this can get tricky. Sometimes people make that impulse purchase. Sometimes life happens and unforeseen expenses pop up. Living within your means is a must for financial health. It's that simple. To live within your means, live on a budget and don't try to keep up with your peers., 6. Be Prepared for Those Important Life Stages, One of the best parts of marriage is knowing you will be experiencing all life has to offer with your spouse. That includes all the big stages in life like buying your first home together, getting the big family vehicle , saving for your children's education, or saving for retirement. It also could include those things you know are going to happen like home repairs and improvements. Know what…, 7. Save Money for Rainy Days, Part of being prepared is saving money. When you get your paycheck, pay yourself first. Put aside money for an emergency fund. Strive to have three to six months' worth of expenses set aside to help in the case of job loss, major home or auto repairs, and other large expenses. Get in the habit of saving money and you'll be glad you did when those rainy days come around., 8. Make Investing a Priority, Like saving money, investing is crucial to your future financial well-being. Take advantage of your company 401k or other retirement plans. However, there are other ways to invest and make the money you set aside grow, like a money market account . It's good if you educate yourself in the area of investment, but don't feel like you have to take everything on yourself. It might be wise to seek…, 9. Create a Will, It may not be a subject people like to talk about much, but you should create a will. It's wise to think about your loved ones. It's just the responsible thing to do., 10. Think Long Term, Money management and personal finance in marriage is a marathon, not a sprint. Play to win for the long haul. Don't let short-term thinking undermine your long-term goals and dreams. Understand your financial position well and make informed decisions that will work for you over the course of your life., 11. Work Together as Partners, This may be the most important advice. Marriage is a partnership. Work together as partners. Not only will this make what you do together more meaningful, you are also far more likely to be successful and happy in managing your money and achieving your financial goals. Plus, working together is a habit that may just help in other areas of your life. And, after all, the purpose of money management…
- GLEN GARDNER, N.J. – Financial Wellness Bootcamp, a contest from Visions Federal Credit Union, has concluded and Beatriz Monterroso of Glen Gardner is one of the winners. The contest, launched in June 2021, provided a unique chance for Visions members to get their personal finances on track, whether they were trying to buy a house, pay off debt, or just improve their credit score. Last year,…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves more than 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Visit visionsfcu.org for more information. Ref: Visions FCU press release, 2022.…
- SYRACUSE, N.Y. – Financial Wellness Bootcamp, a contest from Visions Federal Credit Union, has concluded and Courtney Zaryski of Syracuse is one of the winners. The contest, launched in June 2021, provided a unique chance for Visions members to get their personal finances on track, whether they were trying to buy a house, pay off debt, or just improve their credit score. Last year, Zaryski…, About Visions, Visions Federal Credit Union is a not for profit financial institution completely owned by its members. Established in 1966, Visions proudly serves more than 230,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Ref: Visions FCU press release, 2022. View recent news.
- How to Make the Most of College Internships, As a college student, I've taken advantage of numerous internships at my university and local businesses. They can be a great way to familiarize yourself with a company, industry, job responsibilities, and can even grow your network. All of which can help you build a solid career and reach your financial goals. The problem is, finding an internship can be tough, but making the most of it can be…, if you want to make the most of it, here's how., Check the feasibility of the internship., The reality of internships is that most are unpaid, and "compensation" comes in the form of college credit. Bills and other everyday expenses don't disappear just because an opportunity arises for you to intern. Consider the consequences of not being able to work as many hours at your paid job if you commit to an unpaid internship – or that you may not have time for a paid job at all! There was…, Have a plan., Knowing what you want to gain from the internship experience is the first step. What questions do you have for people that hold titles you are interested in? How can you use this experience to bulk up a portfolio or a resume? Maybe you're interested in learning the best and worst parts about a job or an industry, or scouting a company's culture and benefits . You might not be thinking about…, Take advantage of the information around you., You're new, so there won't be mountains of work to keep you busy. Rarely, if ever, will a department have a pile of projects that need to be done right away by the intern. Instead, look to take advantage of the professionals around you who are possibly in the career you desire. Even if you come into an internship and they have tasks waiting for you, the honest and personal conversations you'll…, Build your network. , This is a phrase you'll hear everywhere, but it's hard to know exactly what "building your network" looks like. Networking means going to those office lunches, even if you weren't scheduled on that day, or trying to implant yourself in as many meetings as possible. Infiltrating your name into everything will make many people familiar with your presence. But that isn't enough. By asking questions…, Have reasonable expectations. , I quickly learned that you're not guaranteed anything special just by interning somewhere. You could be a great intern, but sometimes job openings don't align for you when you're ready to enter the workforce – or they simply aren't looking to hire. I wouldn't view this as a failure. By now, you'll have a network of people who can speak to your fantastic work while you were there. Instead of…
- Cash Income: Dos and Don'ts of Cash Management, My first jobs were in cafes and restaurants. Depending on the gig and the season, income was inconsistent week to week and month to month, generally less in payroll and more in tips. At times, I was earning 100% cash, with printed paychecks showing $0.00 (thanks to taxes). With unreliable income and cash habits you might call "scattered," I didn't develop a good system for saving or budgeting…, Take these highlights as a few, Don'ts of Cash Management, ., For most of my teen and college years, if you asked me, I would have told you that I had a system. I thought the system worked. (Spoiler alert, it didn't.), Remember, cash management doesn't have to be complicated., , , 1. Don't store cash in a random jar or drawer. , Cash income went into my pocket, then home, where I split everything two ways. I put some tips into my sock drawer and the rest in my wallet. Then, if I needed the cash to cover a check I wrote, or if the sock drawer felt overstuffed, I'd take a trip to the bank and make a deposit. Funny story (well, maybe not that funny). While sharing an apartment in college , one of my roommates stole over $…, 2. Don't ignore your checking account. , When I received substantial paychecks, I'd deposit them in the same place I'd put my rare cash deposits – into my checking account . By depositing there specifically, I figured I was less likely to write checks I couldn't cash. The catch is, I didn't bother reviewing my accounts or balancing my checkbook. I found myself repeatedly overdrawing my account, discovering that I've maxed out my…, 3. Don't spend money without tracking it., My monthly costs were minimal, so I didn't worry about them, track them, or budget for them. They included my rent, cell phone, and fuel for my car – all paid from my checking account. Other spending was flexible, day-to-day costs like food, entertainment, and clothes. As long as I didn't feel like I was overspending, I would probably be fine. For my flexible expenses, I'd use whatever payment…, my money disappeared and savings did not exist., I eventually discovered that my money management system wasn't working for me. I had more monthly bills than before, including a new auto loan and student debt, and I kept dipping into overdraft protection due to "insufficient funds.", The issue with my money management had been simple – I wasn't managing anything! , Consider these the, Dos of Cash Management, ., During those early years, I didn't know what money I had, so I didn't know where my money was going. Then, I discovered habits that work. , 1. Keep your money secure. , When you deposit money with a financial institution, you get the peace of mind that it's secure and protected. Accounts are usually insured (like the share insurance at Visions ) and often come with support teams that can help you with theft, fraud, and financial wellness. I even make regular deposits into a share certificate, where I won't touch it for months and months – making it not only…, 2. Track your income. , If you don't know how much money you have coming in, how can you control what's going out? Be specific. Know exactly how much money you have coming in and when it fluctuates. Some seasons may be leaner than others – knowing the trends can help you plan. Pro tip: Ask about the Holiday Club, Summer Savers, and Lucky Savers to plan your savings on a seasonal/annual basis. On a more personal note, I…, 3. Build a budget. , Have a system to stay on top of bills, expenses, and savings. When you budget, you're prioritizing your necessary payments. That way, you'll know exactly what you can spend on a daily, weekly, or monthly basis on everything else. At first, when I started using a traditional budget , I realized how I was overspending on food and entertainment in December, for the holidays, then again in April and…, 4. Pay yourself first., Cash management means you are in control . As long as you have a good foundation of savings, you're likely to keep that control, even in the face of an emergency. Practice saving money for tomorrow before you spend money today. By having six months of savings set aside in a savings account, I knew I could handle the unexpected without having to fear my finances. I was suddenly on top of my bills…, Once I organized my income, I could track my expenses., It was a small step that had a huge ripple effect for my finances. If you have cash income, you may want to keep it in one place . Track it coming in, track it going out, and remember, proof of income can help you in the long run. It sure helped me! - JMS Learn about share insurance coverage at Visions.
- , I learned the hard way., I didn't quite realize what student loans entailed and learned so many things along the way that I wish I knew beforehand. I'm here to tell you all the things I wish I knew, so that hopefully you don't go through what I did. Planning to go to college? Face it – you'll probably have student loans... For you to pay for your college years, you'll need to receive scholarships, grants, financial aid…, student loans, . A student loan is designed to help you pay your way through school even though you may not have the money to do so right now. Maybe your state covers full tuition for undergrads at state schools. Well, in addition to tuition, a student loan could also cover the cost of books, supplies, room and board, and even school-related travel and study abroad . Student loans can range from a few thousand…, financial aid advisor, at your school. You can do this by making an appointment and they will walk you through everything you need to know about your financial aid. Next, fill out a, FAFSA form – the Free Application for Federal Student Aid, . Assuming your parents are in the mix and helping, you'll need both your and their income and tax information for the last two or three years, which will determine how much financial aid you receive for the year. Depending on your parents' income, you may be quoted an estimated amount of aid you can receive for free, as federal grants, or you may only be approved for loans instead of grants.…, Federal loans, are usually awarded to you based on your FAFSA information and funded by the federal government. Federal loan payments are not due until after graduation, typically with a fixed interest rate. The best perk of a federal loan is that there's no credit check, so your credit won't be impacted when you apply for it., Private loans, , on the other hand, are a little trickier. Private student loans are not funded by the government but by – you guessed it – private institutions! To get a private student loan, you'll need to do your research and apply for them separately. They are not part of your FAFSA. Private loans typically have a variable interest rate, and some may require you to start making payments while you're still…, That's why many people try to stick with federal student loans., If these loans do not cover your whole expense, apply for a private student loan, but only apply for what you need. Calculate your expenses and only ask for that number, because you don't want to pay any additional interest. Think about your books, room and board, tuition, and even gas expenses driving to and from campus. You might even find some loan companies offer a line of credit , which you…, If you're approved, the lender will send the funds to your college first, . Your school will put that money towards tuition and fees, and then refund you the rest of the money. Make sure to understand whether your loan disbursements are per semester or per year, so you can plan accordingly. On top of the principal you take out from each lender, you'll have to pay interest, too. Interest is attached to your loan sum and calculated as a percentage of the unpaid loan…, Know the payment terms for your loan, because they're all different., You'll be given an amount that you're required to pay monthly at a certain interest rate. The terms will also tell you how much time you have to pay off the loan – usually depending on the depth of the loan. To make your life a little easier, I recommend setting up automatic payments, so you don't have to worry about remembering each month. If the payment seems to be too high or too much, you may…, income-based payment plans, , your monthly payment could be lower if you have a low income, so this may be an option worth exploring., Refinancing, is also available, where you can apply for a lower interest rate or debt consolidation to reduce your payments or extend the duration of your loans. Depending on your job and your loan, you may also be eligible for, loan forgiveness, . Your federal loans might qualify for this option if you work full time in a not for profit or public sector position for more than five years. However, there's a lot of political debate around loan forgiveness policies and financing higher education, so keep doing your research and don't overlook a great opportunity that may set you up for financial success! We'll all have different…
