FINANCIAL LITERACY NEWSLETTER | November 2024
International Credit Union Day
Credit Unions around the globe celebrated International Credit Union Day (ICU Day) on October 17, 2024, an annual event to commemorate the credit union movement’s impact and achievements. This year marked the 76th anniversary of this annual event and was celebrated under the theme of “One World Through Cooperative Finance.”
Learn more about the history of credit unions and ICU Day at the WOCCU website.
Tis the Season...To Think About Curbing Holiday Spending
Keeping track of expenses and sticking with a well-thought-out budget during the year are tasks that can act as the building blocks for sound financial planning. However, as we enter into the busy holiday season, it can be easy to lose sight of our budgets and spend beyond our means. In an effort to assist you in maintaining a healthy balance between spending and saving during the holidays, here are five fail-proof tips to live by.
How the Fed's Recent Rate Cut Affects Your Wallet
On September 18, 2024, the Federal Reserve (“Fed”) announced that the federal funds rate would decrease by 50 basis points to a range of 4.75%-5%. This is the first interest rate decrease since 2022 when the Fed instituted its “quantitative tightening” (QT) process. QT is a tool that the Fed uses in an attempt to control inflation by raising interest rates.
Though this has made major news throughout the country, many people misunderstand the impact of the Fed’s rate cut on their financial life. Read on to dive into how the decrease in the federal funds rate may change your financial planning in the near future.
How the decrease in the federal funds rate may change your financial planning.