SIU Credit Union Blog

Bring Back The Brown Bag: Saving Money On Lunch The Old-Fashioned Way

Although it’s been said breakfast is the most important meal of the day, there may be a new contender rising. Recent studies are showing that employees who take a designated lunch break are more likely to be productive in the afternoon and avoid long-term burnout. Breakfast has clearly been shoved out of its once-coveted role of “most important meal,” and the reign of lunch has begun.

Lunch’s sudden rise to popularity hasn’t come without one or two negative side effects. The most worrying of these is how often Americans are dining out for lunch per week and how much they’re spending when they do. If you’re looking for an alternative to eating gourmet sushi five times a week, the best option is one that’s been with us since we were children: the brown bag lunch.

When you’re actually paying for one lunch, it might not seem that expensive. Eating four lunches out a week at $10 each has to be cheaper than throwing away $50 on groceries at the start of the week, right? Actually, studies have shown that eating out for lunch can drain anywhere between $1,500 and $2,500 per year from your budget, depending on where and how often you go out to eat. That might seem like an outrageous amount, but the math is pretty clear. Eating out four times a week, with each meal costing about $12, for 48 working weeks in the year, gives us a total of $2,304.

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SIU Credit Union Announces March Seminar Series

February 13, 2017 – Carbondale, IL – SIU Credit Union is pleased to announce it will be hosting a series of a free financial seminars this March.  Open to credit union members and the public, the seminars will focus on a variety of financial topics including budgeting, protecting yourself from identity theft, and housing options for seniors.

Thursday, March 2, 2017 | Build A Basic Budget >The 5-Step Spending Plan

  • Learn how to set realistic financial goals for you and your family, to track where your money goes, how to develop a spending plan and more. Hosted by Kim Babington. A featured event during America Saves Week 2017.

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Share Your Savings Goal and Win $1000 in the #ImSavingFor Contest

Share Your Savings Goal and Win $1000 in the #ImSavingFor Contest

To celebrate the upcoming America Saves Week (Feb. 27-March 4, 2017), America Saves is launching the #ImSavingFor contest. It’s easy to enter. Just share a short video of your savings story, or a picture of you and what you are saving for and enter to win $1,000 at americasavesweek.org/imsavingfor.

How to enter:

  • Create a short video featuring your savings story by answering at least one of these questions: What are you saving for? What is your savings story and how can it help other people? What is your favorite savings tip or trick?
  • Or take picture illustrating your savings goal
  • Enter to win at americasavesweek.org/imsavingfor
  • Share your video or photo on social media with the hashtag #ImSavingFor

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9 Tips for Paying Off Your Credit Card Debt

Buried in credit card debt? You’re not alone. According to NerdWallet, in 2015 the average U.S. household with debt had $15,762 in credit card debt at an average 18% interest rate. Annual interest alone was $2,630, or more than $50 a week.

Here are nine tips on how to climb out. Remember, though, there are no magical solutions.

Stop spending more than you make

Stop spending more than you make

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SIU Credit Union Presents ‘Jeans Because We Care’ Donations

January 26, 2017 – Carbondale, IL – SIU Credit Union recently presented two local non-profit organizations with donations on behalf of its ‘Jeans Because We Care’ fund. The Night’s Shield Children’s Shelter and Perry County Humane Society were selected by staff to each receive a $2,395 check. Every Friday the staff at SIU Credit Union has the option to wear jeans for a $2.00 donation that goes directly back to the local communities.

“This is what being a local, member-owned financial cooperative is all about,” said Kim Babington, Vice President of Business Development at SIU Credit Union. “We are so thankful that we can help make a difference right here and look forward to helping other organizations in any way we can.”

The Night’s Shield

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