September 2023| Issue #11

News & Updates

Happy September, readers!

We hope that you enjoy this month's edition of the Dollars & Sense newsletter. Don't forget to submit your questions to our experts for some great (and FREE) financial advice.

Personal Finance Topic of the Month: Fall Financial Checkup

Like an annual health checkup, it's important to regularly check in with our financial goals. By monitoring our financial health, we can identify areas for improvement, shop around for better deals, and chart a course for the months ahead.

U.S. News offers some items to consider for your fall checkup:

Plug budget leaks by identifying areas where you overspent
Consolidate debt and create a repayment plan
Compare service providers to find more affordable alternatives
Anticipate your healthcare needs and costs in preparation for open enrollment
Set your holiday budget early

Read the full article for more financial checkup ideas. And remember, activities like these aren't about dwelling on the past but rather taking steps for a better future.

Ask an Expert Q&A

This month's question asks, "What is a CD?"

Answer: "A CD, or certificate of deposit, is a type of savings account with a fixed interest rate that’s usually higher than a regular savings account. It also has a fixed term length and a fixed date of withdrawal, known as the maturity date. You lock funds in a CD for a term generally ranging from three months to five years. CDs don’t have monthly fees, but most have an early withdrawal penalty."

Have a question? Submit it anonymously by clicking the box below!

Submit a Question

This month’s Bank On Spotlight

IU Credit Union

IU Credit Union was founded in 1956 on the campus of Indiana University, Bloomington. A small group of university employees pooled their money together and established a financial cooperative - owned, operated and governed by its members. IUCU founders believed a member-owned financial institution would best serve the unique needs of its community.

From humble beginnings, IU Credit Union has grown to become a full-service financial services provider, now more than 70,000 members strong, with membership open to Hoosiers who live or work in one of 65 Indiana counties.

Committed to improving the lives of its members, employees and the communities it serves, IU Credit Union has received numerous community involvement honors including the United Way’s prestigious Pillar Award. IU Credit Union also participates in the United Way’s Bank On Bloomington financial education program. In addition, IUCU has consistently been ranked as a top workplace and named as one of the Best Places to Work - Bloomington and Best Places to Work in Indiana by the Indiana Chamber of Commerce.

To learn more about IU Credit Union, iucu.org

What is Bank On Bloomington?

Bank On Bloomington is an affiliate of the national Bank On program, which aims to connect consumers to safe, affordable bank accounts.

All participating Bank On Bloomington banking partners have accounts that meet national Bank On standards and are designed to serv the needs of every household, not matter their income. These banks are committed to providing services to the greater-Bloomington community and helping you become more financially stable.

Spread the Word!

We believe quality financial information should be available to everyone, so we encourage you to let others know about our monthly newsletter and sign up on our website. First time seeing this newsletter? Subscribe Today for more helpful financial information and advice!

Need to Open An Account?

Visit the Bank On Bloomington website for a list of participating Bank On accounts. Here you will find information on low cost, accessible banking services offered by each of our partners.

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Visit the Financial Empowerment Hub

Learn more about Financial Empowerment programs and tools like the Free Community Tax Service and Financial Stability Guides.

Financial Empowerment Hub

Financial Disclaimer. UNITED WAY OF MONROE COUNTY IS NOT ENGAGED IN RENDERING LEGAL, TAX OR FINANCIAL ADVICE OR SERVICES. UNITED WAY OF MONROE COUNTY IS NOT A FINANCIAL PLANNER, BROKER OR TAX ADVISOR. The Bank On Bloomington Dollars & Sense newsletter is intended only to assist you in your financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and advice obtained through the newsletter may not be appropriate for your situation. Accordingly, before making any financial decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.

United Way of Monroe County is a nonprofit organization that improves the lives and futures of all people in the community. We bring together expertise, funding, and volunteer support to positively impact the resilience of our community, and those who live within it. In partnership with others, we work to eliminate inequities experienced by low-income and diverse populations so that all people have a safe, healthy home environment, achieve their educational potential, and increase their financial stability. We commit to building bridges across cultural, racial, religious, and economic boundaries.

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