SIU Credit Union Blog

Local Service. Global Good.

ICU Day 14

On October 16, 2014, credit unions around the world will celebrate International Credit Union (ICU) Day®. That’s 200+ million people … from 56,000 credit unions … in 101 countries joining together to celebrate their cooperative spirit.

Globally, this cooperative spirit has led to life-changing opportunities in the form of small business start-ups, home ownership, and education. In some countries, members encounter their first taste of democratic decision-making through their member-owned credit unions.

This year, credit unions have been present during the most tumultuous moments around the world. Throughout the crisis in Ukraine, credit union volunteers were among the protesters in Kiev and are now attempting to maintain financial stability for their members. With the help of the World Council of Credit Unions, which is supported by credit unions in the U.S., Ukrainian credit unions are working on ways to ensure loans can be made to those who need them, and uphold the confidence of their members.

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Need a Halloween Costume? Make It and Save

Halloween BlogWhat’s your favorite thing about Halloween? Is it the candy? How about the costumes?

Costumes let you explore your imagination and creativity. You can pretend to be somebody–or something–else. It’s fun to dress up for trick-or-treating and Halloween parties. Making a great costume doesn’t have to cost a lot of money. The best costumes are usually the ones you make yourself. Just remember to start early so you have enough time.

Before you get started, decide what you want to be:

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Big Money Questions Before Marriage

No matter how well you and your significant other jibed while dating, marriage brings new things to think about—and money is one of them. Ironing out any potential sources of friction makes for a happier couple.Before Marriage Blog

Get the conversation rolling and ask these questions before marriage:

What do you earn? No one should be in the dark about his or her partner’s income, even if, at first, bringing it up feels awkward. Income level affects everything from day-to-day lifestyle to your future tax bracket.

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Tips to Stretch Your Budget and Benefits After a Job Loss

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Whether you’re downsized, laid off, or just plain fired, losing your job is a traumatic event. The following tips can help you stretch your budget and your benefits to cover family needs until you find another job.

* Cut costs wherever possible. Try not to incur additional debt. Work with your credit union to gain access to an emergency line of credit, or to restructure current debts.

* Ask if the company allows severance pay. It varies depending on years of service and type of job held. You may budget better with salary payments than with a lump sum payment.

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Why You Should Buy Renters Insurance

Renter’s insurance can protect you against financial loss from damage caused by fire, pipe/water leak damage, and explosions. It also can protect against losses from theft, vandalism, or injury to others that occurs in your unit. Note that floods, earthquakes, tornados, and hurricanes aren’t always covered, so you may need to buy an additional policy.

According to the National Association of Insurance Commissioners, Washington, D.C., the average cost of rental insurance is $15 to $30 a month. Even if your individual items aren’t worth that much, it would cost a lot of money to replace everything at once. Renters Insurance Blog

To find the best deal on renter’s insurance, follow these steps:

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Help for Complusive Shoppers

With the holidays right around the corner, many people find their spending habits start to spiral out of control. SIU Credit Union offers Holiday Savings Accounts the help members avoid unnecessary debt by saving throughout the year.

Recent studies suggest that compulsive shopping is a growing problem because of easier access to credit cards at younger ages, the convenience of ordering online, and the availability of television shopping channels. Shopping Blog

To prevent shopping binges:

* Pay for purchases by cash, check, or debit card.

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