As we ease into fall, the following sentiment paints a meaningful picture, “A fallen leaf is nothing more than a summer’s wave goodbye.” Naturally, families are settling into their back-to-school routines, enjoying the fun of fall sports, carving pumpkins, and raking the leaves. And your Credit Union is here, regardless of the season, to support our members’ financial lives.
Helping members achieve Financial Freedom is an ongoing aspiration for us at American Eagle Financial Credit Union, and we are proud to offer a number of tools to meet members where they are in the journey. Our new GreenPath Financial Wellness partnership provides various payment solutions to members. These solutions offer valuable assistance and help to reduce stress for those who may be experiencing financial challenges. Services include counseling for debt management, student loans, housing, and other concerns members may face.
In addition, we also provide several financial modules on topics ranging from budgeting and emergency planning to buying a home or car, building credit, and even “Adulting 101.” These easy-to-access modules are found here and can be utilized in the convenience and privacy of your own home.
We know that rising bills, recent price increases at the grocery store, and the cost of gas can all put pressure on the family budget. Now might be the right time to explore whether refinancing loans with higher interest rates could make good financial sense as the rate environment has started to change. Importantly, the Federal Reserve recently began reducing interest rates after 11 increases since March of 2022.
What does this mean to consumers? Lower loan rates provide opportunities to borrow money for less, encouraging consumer spending and business investment. This news is good for consumers, which means lower interest rates on mortgages, auto loans, and credit cards, making it more affordable to borrow and spend. Members can also choose to investigate boosting their savings and maximizing returns on the CDs we have available before there are more reductions to interest rates.
We are also making meaningful commitments in the community. Since 2020, our popular Cash Back to the Community Program has continued supporting three nonprofit organizations nominated and chosen by our membership each quarter. Funds are accumulated by the Credit Union each time members use their Debit or Credit card. For the second quarter of 2024, $9,598 was awarded to each of the following member-selected organizations:
- Friends of Camp Neipsic is dedicated to preserving and promoting open space for youth to engage in outdoor activities in Glastonbury, CT.
- Save All Dogs is committed to rescuing, caring, and finding forever homes for unwanted, homeless, and abandoned dogs and cats.
- North Haven Historical Society is focused on building for the future on foundations of our past, utilizing these funds to create a permanent Quinnipiac Native American exhibit.
American Eagle Financial Credit Union remains deeply committed to fostering Financial Freedom across all the communities we serve. As we contemplate what is possible in 2025, we look forward to expanding our commitment through increased donations, sponsorships, financial education, and a continued focus on enhancing the overall financial wellness of our communities.
Know that you are a valued member and owner of our financial cooperative. We are proud to serve you and hope you enjoy this autumn weather!
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