Saving Money Like an Olympian

The Olympics inspire many athletes to pursue their sports dreams but here at St. Cloud Federal Credit Union it inspires us to be financially fit! In fact we believe the same principles to becoming a Gold Medalist are the same as being a financial fitness champ like our employee Phoebe!

Set a Goal

Setting a goal is the first step into any adventure, whether it is becoming an Olympian or saving money. Your goal doesn’t have to meet anyone’s expectation but your own. To be successful set a goal that you think you can achieve.

Create a Plan

You cannot simply say you want to save money just like you can’t simply walk into the Olympics and ask for a gold medal. You have to create a financial plan like you are training for the Olympics. This plan could be saving $5 a week or it could be saving $100 a week. It can be any amount you choose as long as it makes sense for your ultimate savings goal.

Train For the Gold

Once an Olympian makes their training plan, it’s time to put it into action! The same process can be applied to your savings plan. You have to train yourself to get into the habit of saving. One way to do this is to have a portion of your paycheck go into your savings account.

Patience

Your savings account will not grow rapidly overnight and that’s okay! Every little bit you put into your savings counts. Eventually you will make it to your savings goal just like an Olympian that gets the gold!

Keep Your Eye on The Prize

It is easy for us to slip back into old spending habits. Just like it is easy for an Olympian to have a sloppy practice. One way to stay focused is to write down where all your money goes and how much you want to save each month.

We are here to help you become financially fit champion like Phoebe! Feel free to stop by either of our locations or browse our website to learn more about our services.

WOW Story #2

"Our job every day is to help our members in any way we can, but we're not in the habit of "tooting our own horn". However, we're proud of the superior service we provide, and the great feedback we get from members. So here's a little "toot" . . .

One of our employees was recently at her doctor's office in St. Cloud. She handed her Debit Card to the person at the counter, who looked at it and exclaimed, "I love the Credit Union!" She then told how much she loves having her accounts with SCFCU, and that her husband has been with us since he was a child. She said specifically that she loves working with Joe Rose and Sandy Lehnen with their loans, and that SCFCU always takes such good care of them. Way to go to everyone who touches all of our our members' lives daily in positive ways. And kudos to Joe and Sandy for making a lasting impression on our member at the doctor's office!

WOW Story #1

Helping our members stay "financially fit" can mean a variety of things. It can mean something as crucial as keeping your money from falling into the hands of criminals, as illustrated in this story.

An elderly member called us recently and talked to Member Service Representative Karen. She told Karen she would be stopping in shortly to withdraw some cash. She had received a call from a "debt collection agency" instructing her to pay an outstanding debt immediately or she would be taken to court.

It would be easy for us to simply give our member what she asked for, no questions asked. But our first concern is to look out for the welfare of our members. Karen contacted our member's daughter to verify that she agreed with this withdrawal, and the daughter said, "Yes".

When our member came in, Karen took the time ask more questions, to learn exactly what's going on. We know from experience that fraud is being perpetrated every day. Karen discovered that our member had been directed to withdraw cash and to purchase reloadable cash cards at a local pharmacy. She again called the daughter and alerted her that this must be a scam. No legitimate organization would do this. Our member and her daughter were grateful for Karen's persistence in helping them prevent a scam.

'One-Ring' Cell Phone Scam

We are informing our members about an 'One-Ring' cell phone scam that has recently hit Minnesota. Please read below to educate yourself about this scam.

"The Better Business Bureau is warning people who use cell phones about a "one-ring" scam. Like most scams, it preys on the curious, but in this case, a simple return phone call could cost big bucks.

The scam is simple. People receive a call on their cell phone. It usually only rings once and typically the person on the other end hangs up before the call is answered. If a person calls back, the scammers collect."

"The calls are coming in from area codes like 473, which is Grenada, but other Caribbean area countries like Antigua, Dominican Republic and British Virgin Islands are also included in the scam."

DeMars, Jeffery. "Cell Phone 'One-Ring' Scam Hits Minnesota." Kare 11. N.p., 3 Feb. 2014. Web.

Click here for more information.

We encourage our members to watch out for this scam. If you see a missed call from a suspicious number delete it from your phone to avoid an accidental dial. Also watch for additional charges on your accounts.