- While we’re certainly one-of-a-kind, we didn’t invent the co-op. Financial cooperatives and credit unions have been around since the 1800s, evolving with a shared set of principles that govern and guide like-minded companies around the globe. From our commitment to community, to our unique mission in financial services, to your relationship and role as a member – the Eight Cooperative Principles…, Voluntary and Open Membership, and, Member Economic Participation, . Voluntary and Open Membership “Credit unions are voluntary, not-for-profit financial cooperatives, offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political, or religious discrimination.” – National Credit Union Foundation The primary principle of cooperatives worldwide, Voluntary and Open Membership proclaims…, membership eligibility, ? We’re glad you asked… As a cooperative, we can’t simply march into another credit union’s territory and compete with their charter. We serve communities that require our services, and our charters are the bylaws that define those communities. Sometimes, the field of membership is defined by territories, like Otsego County , NY or the City of Reading , PA. Other times, it’s defined by employment…, secondary membership, . That means if a person is eligible to become a Visions member, then everyone in that person’s immediate family and household is also eligible to become a member – voluntarily and without discrimination. Member Economic Participation “Members are the owners of their credit union and contribute to its capital. Members, not shareholders, benefit from their credit union’s profits in proportion to…, Members will benefit the most by increasing their participation, . For example, compare our checking accounts :, Flex Checking , Without meeting any minimum balance or prerequisites, members can enjoy a Flex Checking account with a complimentary debit card , a free box of standard checks per year, and no dividends. It’s an excellent checking option with no monthly fees., Flex Checking Plus, By increasing your participation, you could skip the $8 monthly fee* on our Flex Checking Plus and earn dividends on your checking balance, while also getting free money orders and official checks, free wire transfers, unlimited refunds on non-Visions ATMs, and more – and still receive the complimentary debit card ! Flex Checking Plus requires a $1,000 minimum account balance or an aggregate of $…, Explore our cooperative principles:, , Autonomy and Education, , Democracy and Community, Diversity, Equity, and Inclusion, , Cooperation Among Cooperatives, Membership and Participation
- Student Loans, Resources, and Free Money, Preparing for college is all about choices, be it filling in the circles on a standardized test or picking which school to attend. The most important choice, though, may be how to pay for college. Full scholarships are limited. They're usually reserved for outstanding athletes and a select few academic standouts. What about the rest of us? For most, paying for college is a search for funding…, Student Loans and Other Resources Are a Big Part of College Funding, Financial aid and scholarships can cover a good chunk of college costs, but most need student loans to fill the gaps. Many will borrow between $30,000 and $100,000 to cover the price tag of a four-year degree. College graduates owe an estimated $1.3 trillion in outstanding debt and recent numbers from the federal government suggest many are working hard to pay it back. The troubling trend of…, 1. Figure Out the Cost of Attendance, Colleges across the nation are actually required to post their cost of attendance (COA) each year. This COA accounts for the tuition and fees; books and supplies; room and board; transportation; and personal expenses the average student would pay in an academic year, or one fall and spring semester. Look up the number and stare it down. Now take a deep breath and let's get to work., 2. Fill Out The FAFSA, The Free Application for Federal Student Aid unlocks your access to federal student loans and grants, the most practical college funding source you have. Federal loans carry low, fixed interest rates that tend to make monthly payments a little more palatable than the higher rates you could get from private financing or a commercial bank. As the name suggests, it's free to complete the…, 3. Find Some Free Money for College, Whether it's for $50 or $50,000, scholarships help drop that COA in a hurry. The search and application process will take a lot of work, but the paycheck you could earn would be priceless. To make the process a little more painless, write a general essay you can submit with applications as the opportunities arise. Many decision-makers simply want you to explain who you are, why you want to go to…, 4. Find Even More Free Money for College, Every school has a Financial Aid office. Find it and use it. Simple enough, right?, 5. Use Special Credit Union Student Loans to Fill the Gaps, After you've gathered all your federal funds, scholarships, and financial aid, take another look at that cost of attendance. If you're like most, you're going to need more., Student Choice offers students and parents options., Visions Federal Credit Union offers many benefits to member-owners, including affordable student lending in the form of Student Choice. These lines of credit are exclusive to credit unions and offer competitive rates, in-school deferment, and a graduated repayment option. We're also dedicated to financial literacy when it comes to college planning . Find more information, tips, and our…, Apply for a Student Loan
- 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…
- Lessons From My Elders, I won't always be young. I'm not jaded by the notion that I have a lot of years ahead of me, and many lessons to learn. But eventually, I won't be able to work the same 40 hours per week (plus the occasional side gig) to support my family and cover my health expenses. Not forever. So when someone older than me talks about life, I'm happy to listen because I might be in their shoes someday. I'm…, Retirement #2: A veteran's folly , Everyone called him Gramps, even though he had no grandkids. Through his church and the local VFW, Gramps had many companions, and everyone he met, he treated like a brother. People generally connected with his relaxed attitude and his sense of humor, which would sometimes raise doubts to his mostly pious nature. Still, I've never met anyone more averse to saving money. When he passed away, his…, Here's what I learned from Gramps and his financial folly:, 1. Without debt, subscriptions, or financial obligations, life can be remarkably affordable. Isn't it obvious? Things cost money. So if you have, want, use, and do less stuff, you're likely to spend less money. That pretty much describes Gramps' lifestyle. He was as minimal as minimal gets, getting by on slim income from his military pension and social security. He had a car, but most days he…, Read more Lessons From My Elders:, My Crafty Neighbor, The Distant Artist
- Most people realize that a job (or lack thereof) has a major impact on your financial future (as well as your current situation). Yet when we think, "What do I want to do when I grow up?" even if we have an opinion on the matter, most of us could never predict what our career path will eventually be. The best career advice anyone has ever given me was to: Always have an updated resume because…, Know who you are, decide what you want, and have a plan:, What are you qualified to do today? What does it take to be successful in your field? Will you need a degree or certification, or could ample experience get you the job? These are all great questions that may need some research. Look up job descriptions on listing sites like Indeed, LinkedIn, or your local department of labor. What do many employers require for what you are interested in? Don'…, Which benefits are important to you?, Which ones might become important to you as you look down the road? Research this information, too. Be sure that your prospective employer offers benefit programs or services that will meet your needs – because a great job without helpful benefits might not be a good move. Regardless of career path, receiving income through legitimate payroll is always more financially responsible than working "…
- , 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…
- 4 Ways I Saved (or tried) in College, When I was 17 my dad's motto seemed to be "stop spending your money." But to me, spending was easy. "Saving" was hardly a word. The first time I considered cost – another new word! – was the moment my dad said, "You know, you'll end up with a lot more student loans if you choose one of those private schools. We can only help so much." This language was confusing for a teen like me with limited…, The rest would be up to me – a fact that I would learn many years later., I applied to four private universities and one state school, which I considered as a back-up plan because in my mind "private" meant "elite" and therefore "public" meant "inferior." With my 98 GPA and solid SAT scores, I was accepted across the board and had my pick. With a full platter of selections, I obviously had my eye on the elite! Sure, I looked at the price tag, too, but if my parents…, Nope!, Student loans! That's the golden ticket to this chocolate factory. And being a cosigner on those loans, that meant my parents had financial liability and, ultimately, I'd need to make payments based on their incomes and credit scores . I picked a private school anyway, and away I went. Then I watched our family funds dwindle, and as the 2008 recession took hold of our economy, I knew I needed…, With frugality in mind..., My tough lessons in college finances: , 1. Pay myself first, I had to convince myself, "If I don't have money to save, then I don't have money to spend." It does not work the other way around . And once you can train yourself to do this, your lifetime of saving can begin. , 2. Avoid the expense of luxury, My various living situations in college: Becoming a Resident Assistant so I could get a "free" dorm room. Remember though, it's a job and can be time-consuming. Working new student orientation in the summers (again, free housing and good pay), which also helped me explore my college town when it wasn't swamped with students. "Couch-surfing" and living out of my car so I didn't need to pay rent!…, 3. Invest my time, Instead of investing money (because I didn't have any), I invested my time, asking, "How can my time now improve my finances tomorrow ?" Gain practical experience , instead of simply studying the topic: Apply my skills in a professional setting to make myself more valuable when seeking a better-paying job Build a strong resume for post-grad applications and internships Learn from active mentors…, 4. Stretch my student loans, Many student loans come with a bit of flexibility. Meaning, they are more than you need for tuition and housing . Seeing those excess funds in my bank account, I realized that I had to be responsible not to burn through it carelessly. Like many students, I was on my own in a new city, and yearning to break free from the pesky rules and watchful eyes of my childhood home. I won't debate the…, Other financial tips for college students, from personal experience:, Budgeting means being strict when asking, "What is a necessary expense ?" Buy used books from friends, and hunt for the bargains. Books can be pricey, particularly at the beginning of each semester. Sell the old ones, and never buy new if it can be avoided. Don't buy new outfits or clothes every semester. Focus on the supplies you need. Learn from your previous semesters and improve your system…
