In an effort to work toward building a financially healthy community, Superior Choice Credit Union and LSS Financial Counseling are pairing up once again to host the Great Debt Pay Down challenge in 2017.
In short, the Great Debt Pay Down is a year-long competition to see who can lower their debt-to-income ratio by the greatest percentage. The challenge consists of attending at least quarterly individualized financial counseling sessions with an LSS financial counselor and attending group education seminars on a variety of topics. The top three participants who lower their debt-to-income ratio the most will receive $3,000; $1,500; or $500 toward further paying down their debts.
The Great Debt Pay Down is not just a contest to win money, however. The challenge is designed to change each participant’s relationship with money in an effort to help conquer debt.
“Part of our mission as a credit union is to provide ways for our members, and others, a way to become financially well educated,” Superior Choice Credit Union President/CEO Gary Elliott said. “Not only do we want Superior Choice Credit Union to succeed, but we want individuals to be empowered financially as well. It’s a win-win situation.”
The Great Debt Pay Down is a year-long challenge that is open to SCCU members and non-members alike who reside in or are employed in Ashland, Bayfield, Burnett, Douglas, and Iron Counties in Wisconsin as well as the southern portion of St. Louis County in Minnesota. There is no fee associated with participating in the program.
Those who are interested in participating in the program should visit https://www.superiorchoice.com/GDPD to view Great Debt Pay Down challenge details and to download a printable application. Applications to participate in the 2017 Great Debt Pay Down challenge are due back to the credit union no later than Friday, January 27, 2017.
About Superior Choice Credit Union
Superior Choice Credit Union operates six, full-service branch locations around the Northland offering a full line of financial products and services. Since 1932, SCCU has been serving the financial needs of its member/owners. As a member-owned cooperative, members have a say in their financial institution. SCCU is not in business for profit—service to our membership is the only mission.
About LSS Financial Counseling
LSS Financial Counseling is a nonprofit, full-service credit counseling agency. They equip and enable people in their communities around the United States with quality guidance, knowledge, and tools so they can skillfully achieve freedom from debt and worry about their finances. Their offices are located in Minnesota and Wisconsin, with services offered locally and nationally over the phone and online. LSS Financial Counseling is accredited by the Council on Accreditation, a member of the National Foundation for Credit Counseling, and is one of the most trusted credit counseling organizations in the United States. Visit http://www.lssmn.org/debt/ to learn more.