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Financial Check Up

Maximize your financial wellness with a Financial Check Up at CODE!

A new year is the perfect time to evaluate your finances and take note of areas to improve or adjust.  CODE Credit Union is here to help you improve your overall financial health and set realistic goals to get your finances moving in the right direction.

The first step is to identify areas that may need attention.  To get started, answer these questions:

Download our Financial Check-Up Checklist.

Complete a Financial Check Up Online.

 

1) Do you keep at least 3 months worth of expenses in an emergency savings?

If you’re like most of us, you may need to grow your emergency savings.  Experts recommend having 3 months of expenses in an emergency savings account.  If 3 months of expenses sounds like a lot, start by aiming for $1,000 and work your way up.  You can open additional share accounts directly through your online banking dashboard and start saving today.  Log into Access 24 Online Banking and click on your name in the lower left hand corner. Then, click on “add an account.”

 

2) Do you know how much money you pay toward monthly expenses?

Tracking your expenses is typically the first step in getting your finances in order. By understanding what obligations you have to pay each month, you can see exactly where your cash is going and areas for saving opportunity.

 

 3) Do you know how much money you are spending on reoccurring subscriptions?

Sometimes we tend to forget what we are paying for if the transactions are not significant. It is recommended to add up all reoccurring monthly subscriptions to see if there is an opportunity to save money on services you no longer use by cancelling them.

 

4) Do you keep track of how much money you are spending?

If you are struggling with creating and sticking to a budget, there are many resources to help you get started. Our research turned up a few budgeting tools that you may want to check out including:

 

5) Are you confident in your ability to achieve a financial goal you set?

Learning financial discipline takes hard work, so to have financial discipline, your dream needs to be more valuable than the satisfaction of an immediate reward and stronger than the fear of potential risk. Many times, a deficit of desire is why people don’t achieve their goals.

 

6) Do you know your credit score?

All CODE Credit Union members have access to a FREE credit score tracking tool directly through Access 24 Online Banking. Log in today and click on “Credit Score” to get started.

 

7) Is your primary focus to pay down debt?

At CODE, we want to help make your financial lives easier. A Financial Check Up consultation with a CODE Credit Union Financial Services Representative can help you determine areas where CODE can help you improve your finances and help you concentrate on enjoying life.

 

8) Is your primary focus to save money?

Save money for Christmas, vacation, or any reason, and earn a great quarterly dividend rate. Start your Christmas savings anytime of the year with funds available the first week of November. Just $10 per week adds up to about $500 a year. This account is perfect for those who don’t want the temptation of using the funds for other purposes.

 

9) Are you interested in investing for the future?

CODE partners with Harrison Wealth Management Group.  You can contact them for a complimentary consultation to review your investments.

 

10) Do you have an Individual Retirement Account?

Secure your financial future with a high-rate CODE Traditional, Roth or Coverdell IRA. Open a no-minimum deposit Accumulator IRA and enjoy the ease of making contributions through payroll deduction or cash deposits.  There are no service fees to start or maintain the IRA Certificate or the Accumulator IRA.

 

11) Are you covered by a high deductible medical insurance plan?

CODE’s Health Savings Accounts (HSAs) are a convenient way to save for future or current medical expenses. Available for those with High Deductible Health Plans (HDHP), HSAs are an extra safety net into which you and your employer can make contributions. Contributions deducted from your payroll are pre-taxed. Dividends earned are tax-free. Funds can be used for many types of medical expenses including, but not limited to, doctor’s visits, prescriptions, eye glasses and/or hearing aids.*

*Consult your tax advisor.

 

12) Do you feel weighed down by student loans?

If you’re like a lot of college students, you may be stressed about having student loans. If this sounds like you or someone close to you, ask us about different options to help pay for college – a personal loan might help cover some educational expenses, or apply for an Education Credit Line.

 

13) Do you have equity in your home that you’d like to use to:

* Consolidate other debts

* Make a large purchase

* Do some home improvements

* Pay for college

Now is a great time to apply for a mortgage.  Contact us today if you have questions about the mortgage process, or check out our online Mortgage Resource to apply now.  Or maybe you already own your home, and want to use the equity for a Home Equity Loan or Credit Line.  This can provide access to money that can be used in many different ways including home improvements, consolidating debt, or paying for college.  APPLY NOW

 

14) Are your accounts up to date in case of an emergency?

Make sure your accounts have the most accurate and up to date information, such as current address, updated phone numbers, or even someone listed on the account that can act for you during an emergency.  Set up beneficiaries to make sure your accounts are accessible and don’t go to the state during a time of need.  Already have beneficiaries listed on your accounts?  We can check the information for you, and update or change anything that’s needed.

As a member of CODE age 18 or older, you are eligible for $1,000 of Accidental Death and Dismemberment Insurance. This basic coverage is paid for by CODE. Additional coverage is available upon request, with premium paid by member. Contact CODE at (937) 222-8971 for an enrollment form.

 

Choose a location most convenient for you and make an appointment today.

Find a CODE location

Call us to make an appointment at (937) 222-8971.

Send us an email at codecu@codecu.org.

Complete the Financial Check Up Online.

If you’d like a CODE Credit Union Financial Services Representative to access your credit report, download the Authorization to Pull Credit.