In Your Community
Handling Your Finances
For
“Newly Credit Impaired” Consumers
- Your financial reality has changed
- Your credit score has dropped
- Your access to credit is impaired
- It may take years to achieve the level of financial comfort you once enjoyed
- Learn to live at or below your means
Consider this approach as a roadmap back to your former creditworthiness:
- Take a “Proactive” approach to lowering your debt and raising your credit score
- Set up a Savings & Spending Plan (see our website)
- Start a Financial Journal
- Track the steps you take to improve your credit score
- Develop your “Loan Story” to prepare for borrowing
- Document your Non-Traditional payments
- Utilities, Cable TV-Internet, Day Care, Medical & Insurance
- Track your success
- Balances
- Credit Limits
- Interest Rates & Fees
- Freeze usage of all credit cards except for extreme emergencies
- Assess Your Unsecured Credit Situation
- Check credit cards
- Use one for hotel/air tickets---pay off next month
- Plan to pay off all but one card
- Pay the lowest balance card off first-earn a sense of accomplishment & write a great chapter for your “Loan Story”
- Pay off Highest Interest Rate card next
- Pay off “Annual Fee” credit cards next
- Close out credit card accounts-take the quick credit score hit versus the long-term hit (lowers capacity)
- Seek outside help from a non-profit credit counseling organization or Cardinal Community Credit Union
- Take advantage of the Household Budget Worksheets below
7.22.2010
Household Budget Worksheets
Below are links to printable household budget worksheets. The monthly budget worksheet is designed to assist you in creating a monthly budget so you can pay all of your bills on time and even save money. The weekly spending log is a great way to keep track of how much you spend in any given week.
If you need assistance in developing a budget with these worksheets just contact the member service department at your local branch and we would be happy to assist you.
Monthly Budget Worksheet
Weekly Spending Log
Credit Score Information
Project Hope
Credit Union staff and members built a Chain of Hope for Project Hope, Lake County s only homeless shelter. The financial contributions help keep the shelter operating.
Credit union staff participates annually in the Adopt A Family Program providing gifts for families.
Cardinal Community Credit Union fulfills one of the credit union s most important initiatives, consumer financial education for teens with the NEFE (National Endowment for Financial Education) Program. Currently, we are educating more than 800 Mentor High School students. The program also includes Madison High School and is available for all high schools in our operating area (Lake, Cuyahoga, Geauga and Ashtabula counties).
This unique group advises the credit union on young financial services consumers.
Susan G. Komen Race for the Cure
Credit union staff participates annually in a fundraiser for this worthy cause.
Team and Club Sponsorships
Cardinal Community Credit Union annually earmarks thousands of dollars to area sports teams, extra-curricular activities, and clubs from elementary through high school.
Each year, Cardinal Community Credit Union awards a number of $1,000 college scholarships to high school students. The scholarships are open to high school seniors in the areas we serve and the students or their parent/legal guardian must be a member of the credit union to be eligible; other requirements apply.
Cardinal Community Credit Union is a participating member of the following chambers:
Mentor, Willoughby, Wickliffe, and Euclid.
Seven $1,000 College Scholarships To Be Awarded March 2010!
Cardinal Community Credit Union will award seven $1,000 college scholarships at the credit union s Annual Meeting on March 25, 2010.
The scholarship competition is open to graduating high school seniors in Cardinal Community s service area* who meet the following criteria:
- Must be a high school senior
- Must attend a high school in Cardinal Community s service area
- Must have a G.P.A. of 3.0 or higher
- The student or parent/guardian must be a member of Cardinal Community Credit Union
as of October 1, 2009.
Applications for the scholarship may be obtained at any of the credit union offices or
Click here to print out an application.
The deadline for application submission is March 5, 2010.
For more information contact the Marketing Department at 440-266-2200 or 877-900-MYCU.
*Cardinal Community Credit Union Service Area:
Lake, Cuyahoga, Geauga and Ashtabula counties in Ohio.
Ohio Credit Union League Scholarship Application
The Northeast Chapter of Credit Unions is proud to announce its 2010 scholarship program. The Northeast Chapter of Credit Unions will award three scholarships, in the amounts of first place $1500, second and third places $1000 each.
To qualify, an applicant must be at least a senior in high school and plan to participate in post secondary studies, including professional, vocational, and academic studies not limited to colleges and universities.
Student applications must be completed and submitted to Port Conneaut Federal CU c/o Miranda Puthoff 1002 Broad St. Conneaut, OH 44030 no later than February 12, 2010. The recipients will be announced and the scholarships awarded on March 16, 2010. One application will be submitted to the statewide competition sponsored by the Ohio Credit Union Foundation, which will award five $2500 scholarships.
Click here to print out application
