Did you know that March is National Credit Education Month? If not, don’t worry! The world of credit can be incredibly confusing, but we’re here to help make it easier to navigate. We’ve compiled the best tips to not only obtain your score safely, but also build or repair your credit, no matter where you’re starting from. 

First thing’s first:

What is a credit score? 

A credit score is a numerical expression that indicates a person’s credit worthiness, or ability to pay back loans on time. The higher the score, the more likely you’ll be able to obtain a loan with favorable terms, such as a low interest rate, which means you will end up paying less interest on your loans in the long-run. Credit scores can vary from 0 to 850. For those without any current or previous loans, your credit score would be non-existent.

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Everyone loves payday, but too many people struggle with allocating their paycheck in a way that best serves their financial needs. If you’re looking for a little extra guidance in utilizing your income effectively, we’ve compiled a list of tips below that will help you do just that!

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Mrs. Mueller's 4th grade class at Edison Elementary listen to EPC Michelle R. read "Joe the Monkey Saves for a Goal."

Happy March is Reading Month! Community Financial’s Education Partnership Coordinators participate in many “March is Reading Month” activities in our partnering schools, and are very busy reading to students this month! 

Financial education is represented in several fun and engaging books for students of all ages. Fourth grade students at Edison Elementary in Westland, for example, recently listened to Education Partnership Coordinator (EPC), Michelle R., read “Joe the Monkey Saves for a Goal.” With this book, and many others in the Money Mammals series, students can learn about saving their money at an early age in a fun and engaging way.

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Each January, millions of people select their New Year’s resolutions, such as spending less, paying down debt, and focusing on physical health. Now that we’re in March, many of those same goals may be moving to the back-burner. Without the glitz and glam of New Year’s in the rearview mirror, you may be wondering how to stick to your financial goals this Spring.

In order to build financial habits that last, it’s important to create an effective foundation. Below, we’ve compiled a list of tips that can help you keep those resolutions, while creating health savings and credit habits that will last a lifetime.

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In an increasingly-digital world, people use devices and technology for all sorts of things. Shopping, social media, finances, vacation planning, and everything in between. While increased accessibility to these outlets helps make things in our lives quick and convenient, having so much personal information online leaves us vulnerable to cyber criminals looking to make a quick buck.

Data breaches alone have exposed hundreds of millions of consumers to hackers, with almost 1.4 million complaints of identity theft in 2020 alone, according to the Federal Trade Commission (FTC). That’s more than $3.3 billion stolen by identity thieves in one year!

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We often give a “thumbs up” to things we like such as Facebook statuses and Netflix shows. During the month of March, Community Financial is making it easy for you to give a “thumbs up” to your favorite charity with our 9th annual “Thumbs Up for Charity!” program! So how can you get involved? 

Starting Monday, March 7th, you can nominate a local organization that's doing great work in your community for a chance to receive a donation up to $10,000! Nominations will be accepted at cfcu.org/thumbsup until Friday, March 25, 2022.

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