When it comes to talk about personal finances, many of my friends have surprised me by asking, “Why do you bank with a Federal Credit Union?” First, it is clear their underlying question is they simply do not know the differences between a credit union and a bank, and there are many differences. So I’ll rewind past all my prior conversations and start at the beginning because if you understand the key elements of how credit unions and banks are structured, your choice is fairly clear as to which will serve your personal needs best.
Most banks are called “commercial banks” and as the name implies, their purpose is to serve commerce. Therefore their primary customers are businesses leaving private individuals as somewhat of an afterthought, (in fact banks account for 81% of industry revenue nationally). Most banks are led by boards of directors and must answer to shareholders with the expectation to make large profits. A bank’s depositors create those profits with every transaction they make. Even with a profit structure, for everyone who followed the news over the past year, it was the banking industry that was brought into the spotlight about their operations and need for a taxpayer bailout. (Did you see any credit unions under fire? No!)
So if banks have stockholders, what do credit unions have? Members. (So who do you think will serve your individual needs best?)
Credit unions were created specifically to serve individuals offering various accounts from savings to checking, in addition to credit cards, mortgages and, on occasion, home business accounts. Credit unions are federally regulated ‘non-profit’ organizations owned by their depositors, (that would be, should be you!). That’s why deposits are called shares versus deposits. Due to their structure and purpose, credit unions have remained well capitalized and remained the most viable option for home loans throughout the economic downturn. As consumers become more knowledgeable on the differences between banks and credit unions there has been an influx of families making the switch to who will serve their personal needs best, (and I think you know who that is).
So get moving to your locally depositor-owned and operated Federal Credit Union today!
Also learn more about youth accounts offered by Credit Unions. It’s a safe environment for teenagers to learn about money. Check out the GTE Federal Credit Union youth checking account for 12 to 22 year olds at www.U224U.com, because learning about money is important, no matter what your age.
Hey everyone! Happy New Year! (ya, I know it is already February, but I’m still writing 2009 on everything, so it sure still feels NEW!) So I hope you have read the blog by Matt W., the winner of the Suite Caroline Strawbery Jam Contest – http://www.u224u.com/pages/suite-caroline-jam-casting. We are really having fun working together. Did you know he played piano for 10 whole years before he recently took up the guitar? (and I know he will never put it down now!!:) His music background is making it really easy for him to learn guitar. He knows WAY more music theory than I do. He writes his own stuff, which you know I think is totally cool. We hope to play 4 songs together at Matt’s showcase with me at the Strawberry Festival in Plant City on March 6th – more details to come . Stop by and show us some love if you can!! Then I will take the MAIN stage with my band at 1pm. It is going to be outrageously awesome. Please come if you can!! GTE Federal Credit Union is sponsoring the shows. The show is free and kids get in free to the Strawberry Festival on that day. You can watch our shows, and then eat some Strawberry Shortcake and then ride some rides! O, wait, maybe if you are going on fast rides that flip upside down you should eat your shortcake AFTER! LOL!!!!
Get inspired about money by looking into a GTE Federal Credit Union U22 youth checking account for 12 to 22 year olds. It pretty much rocks!
Today we sounded even better!! It is January 31st and we went over everything. All of the songs sounded good, especially “two is better than one!” It just overall sounded awesome. It was too cold to practice at Vinoy Park so my wonderful Aunt Cimmy let us practice at their house in St. Pete. I felt like we did great and we will be awesome when March comes. I just cant wait! The only bad part of everything was me coughing. I was officially diagnosed with asthma Friday and the doctor put me on Steroids ugh… But that’s not going to stop us!! I think we will be great as soon as March comes! Thanks all!!
- Matt W. GTE Federal Credit Union Suite Caroline Strawberry Jam Contest Winner Check out the U22 youth checking account for 12 to 22 year olds at www.U224U.com. Because learning about money is important no matter what your age.
It was fun at our first day of practice haha. We met at the Vinoy Park in St. Pete on Saturday, I was coughing up a storm from my allergies ugh… But other than that we went over 2 songs “I must be dreaming” by The Maine and “Two is better than one” by Boys Like Girls. Also we found out we could do more than just two songs! So we decided to play one of Caroline’s, “Blank Piece of Paper” and one of mine, “Just Another Story”. I think that in March we will be completely ready to play! Hope that everyone will come and have a great time!!
Hey everyone! I was reading this article on CNNMoney.com that I found very startling. While it seems that the nation as a whole is dealing with a 10.2% jobless rate, teens are suffering a record unemployment rate of 27.6%. What’s happening is that people between the ages of 16 to 19 are having a hard time finding jobs because of the surplus of older, more experienced workers who are also having trouble finding jobs. Our parents are filling positions like being a waiter in restaurants or a cashier in a super market – jobs usually filled by teenagers like you and me. What makes the unemployment rate for young adults even worse is that because it is more difficult to find jobs, many teens give up and don’t bother to look. It’s a very vicious circle that is taking a heavy toll on the nation’s economy. Lawmakers are becoming very concerned about this growing problem and are attempting to make changes, but until then, we teens and young adults have to continue to seek out jobs and get experience, even if it’s unpaid. You’d be hard-pressed to find a business turning down free work or an internship. Now is actually a great time to find your dream job or your dream company and ask to intern, just for the experience and to put on your resume for future! There are paying jobs to be had out there, we just have to try harder and get inventive, like blogging for example. If you’re a good writer, a lot of companies are looking for blog-savvy teenagers who are reliable and excited to work. Put your name out there on Twitter or even on your Facebook page advertising your awesome blogging abilities for example. And who knows, maybe when we get a little older, we will be able to affect large enough change preventing economic turmoil like what we’re experiencing today!
Look into a GTE Federal Credit Union U22 checking account for teenagers 12 to 22 in Tampa Bay. Because learning and managing money right is important no matter what your age.
SONGWRITING
I get asked a lot about how I come up with my songs. A lot of people ask me to write songs about them, or they tell me what they think would make a great song. But thatʼs usually not how I get going on a song. An idea kind of sticks with me for a few days, or a few weeks, or a few months even. Then I start humming random tunes. Then if that same idea and tune stay with me for a while, then I take it to the next step and get out my guitar and start messing around. My mom always tries to write down and record when I am doing this, because a lot of times I forget what I was working on and then the idea dies. There are times when I pick up my guitar and the whole song comes to me at once. Those actually end up being my favorite originals.
I guess when you are a songwriter, you are really doing it all the time. A bumper sticker may get me thinking, something a store clerk says may start the process or even something that comes to me in a dream.
The truest thing I can tell you about songwriting is that LIFE IS FULL OF INSPIRATIONS!
Get inspired about money by looking in to a GTE Federal Credit Union U22 account for 12 to 22 year olds. It pretty much rocks!
Hello All!
Last year’s presidential election drew the attention of my teenagers for the first time, giving them a full lesson in the political process. Maybe it was their age, perhaps the state of the economy. Nevertheless, (and regardless of political party affiliations), I saw this as an important step towards being a responsible adult.
Since the election, we’ve seen government push forth for a program that would educate our youth on finances. As Business Week put it earlier this month, “When it comes to financial matters, Americans are functionally illiterate.”
So while the intent to educate has been alive for over a decade, those behind the financial literacy program say that during a strong economy many assumed we knew what to do with our money (other than spending it). Let’s reflect back on my previous blogs, ‘Teens Top 10 Money Myths’, obviously that assumption was not accurate.
As the Business Week article reported, “President’s Advisory Council on Financial Literacy issued a 57-page report in January just before President Barack Obama took office. Among other recommendations, the council said states and the federal government should mandate financial education from kindergarten to grade 12, and require college students to take a financial literacy course before taking out student loans.”
It seems our government leaders are seeking to correct our economy from both ends – what caused it (in part, financial illiteracy), as well as the other factors we’ve read about in the news. So I dove into learning more about the proposed Financial Literacy programs for our youth. One of several bills in Congress addressing the issue would devote $250 million per year to financial education, with the money split between K-12 schools and colleges. I love the thought of this program as my kids try to dodge me in my continued quest to educate them on money matters. (However, I have seen the results of my efforts in their savings accounts!)
A major benefit I’ve come to realize as a parent who is trying to educate my kids, is that our kids may soon be educated on finances within the schools from kindergarten through college. So educating them on saving, spending and investing will be unavoidable!
So there’s still a long road ahead in putting a Financial Literacy program into effect. I think we can all agree that with a program like this, we all win.
Learn more about a GTE Federal Credit Union U22 checking account for 12 to 22 year olds. Because learning about money is important no matter what your age!
Gift Giving Challenges at the Holidays.
Buying for tweens, teens and young adults can be incredibly challenging. Seems like it’s almost impossible to figure out what’s in style, what are the latest trends. Sometimes I’m almost certain I got it right with my kids just to find out “thanks mom but that was soooo yesterday!”
However, one gift that is always in style is a gift card from one of their favorite stores. They seem to provide a sense of freedom, an opportunity to do their own shopping and buy exactly what they like. Now maybe for you, gift cards seem a little impersonal but it got me thinking about what they really like about gift cards. Freedom! Independence!
Freedom and independence can come in many packages and money never goes out of style. Now, I don’t want to sound like a pitch person, but opening the GTE U22 account with my own teens has proved to be an important step towards their financial independence. While I can contribute to their accounts as well as monitor their spending and balances, I mostly sit back and watch them manage their money all on their own. (I’ve been quite impressed!)
So I’ve decided to do what may seem a little predictable and gift wrap a few U.S. Savings Bonds and U22 deposits because I’ve seen firsthand the rewards of educating my kids on money matters.
(Hopefully they won’t read my blog or it’ll ruin the surprise!)
Visit www.U224U.com for more information on GTE Federal Credit Union’s U22 checking account for 12 to 22 year olds. Because learning about money is important no matter what your age!
I’ve been thinking about all of the amazing finalists in the Suite Caroline Strawberry Jam Open Talent Search. I am BLOWN AWAY by the talent!! I want to thank each of you for working SO HARD and for coming out for the audition. You brought it BIG TIME! It would be an honor to play with any one of you!!! I REALLY REALLY mean that!!!
Matthew, I loved the song you played and it showed a quiet strength that I really liked. I can tell you are serious about wanting to promote your career.
Jackson, your performance was so sincere. Your guitar skills are amazing and your singing is so good!!
Shelby, you played such a great song that YOU wrote!! Keep writing and it will really take you places!
Kaylee, loved your Dream Big necklace! Your voice is incredible and awesome!!!
Kassidy, Rascal Flatts would be proud of you and how well you covered their song!! You and your sister should start a singing duo!! U guys would be FAB!!
Savannah, Gunpowder and Lead is one of my fave songs and you knocked it out of the park!! Wow!!
Jenna, You are “Fearless”. I really enjoyed getting to know you and listening to you perform!!
Katie, you ROCK, girl!! You inspired me to come home and dust off my electric guitar and start jammin!
Connor, The violin and the guitar?? Too cool. Plus I know you are an awesome piano player too!!!
Sarah, Your voice is so strong and beautiful!! Just like u!
Rachel, I want to learn Cowboy Cassanova for my shows, and you have motivated me to get on it! Your voice is flawless!!
Shane, your guitar rifts and original licks are insane! I want to take lessons from you!!
Taylor, I love that your grandpa was with you. Did you see him cry? I love that you did a classical and a popular piece. You are multi-talented!!
Lynnaida-Michael Jackson is looking down on you smiling!! What a great version of his song. The tone of your voice is so rich!!
I am glad I don’t pick the winner because it would literally be impossible! I hope that all of you can make it to the Strawberry Festival this year to cheer on the winner and be part of a really fun day!!!
XOXOX Suite Caroline
Brought to you by GTE Federal Credit Union’s U22 checking account for 12 to 22 year olds. Because learning about money is important no matter what your age.
The holidays are here!! The holidays are here!!
Every year I put up a tree with my sister. We use the ornaments that my mom doesn’t want for her tree … you know, like the SpongeBob ones, and the one with Taylor Lautner’s picture on it?? LOL. So, my tree is covered in things with feathers, polka dots, glitter. All the fun stuff. (Target was a GREAT source last year!!) I like to put the presents that I buy for my family under this tree, until Christmas morning when I take them to the family tree downstairs. (My mom likes white lights, I liked the colored ones!) I was making my list to go Christmas shopping, and when I looked at how long it was I got a little nervous. Do I have enough money to do all of this and still have some savings?? (I have LOTS of cousins!!) So, I went on my computer and called up my U22 account to check my balance. It was as easy as entering the web address. I was pleasantly surprised that my balance was in good shape. I also told myself to spend carefully, though, so my savings would still be there for many Christmases to come!!! Easier said than done, I know!!! But I REALLY am going to try
Visit www.u224u.com for more information the GTE Federal Credit Union’s U22 checking account. Because learning and saving is important, no matter what your age!
