#FinancialFridays Building a college fund

Building a College Fund

Do it smartly, without the all-too-common missteps.

Provided by Dennis Archer

According to Sallie Mae, U.S. families with one or more college students spent an average of $24,164 on tuition, housing, and linked expenses in 2015. That was 16% more than in 2014.1

Statistics like these underline the importance of saving and investing to fund a university education, but that effort has become optional to many. In its annual How America Saves for College survey, Sallie Mae found that only 48% of U.S. families with at least one child younger than age 18 were saving for college at all. Among those that were saving, the average 2015 amount was $10,040 – the lowest figure in the 7-year history of the survey. It is little wonder that 22% of college costs are covered by either parent or student borrowing.1,2

If you want to build a college fund, what should you keep in mind? What should you do? What should you avoid doing?

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Congrats to SCCU business member Derek Medved!

Superior Choice Credit Union is so proud of our SCCU business member Derek Medved of the Gary Milk House for his nomination for the Emerging Entrepreneur Award! All of the Joel Labovitz Entrepreneurial Success Awards nominees and winners were honored at a luncheon at the Duluth Entertainment and Convention Center on Wednesday, April 20.

Click here to read more about Derek in this Duluth News Tribune article from April 2015.

The Joel Labovitz Entrepreneurial Success Awards program recognizes entrepreneurs and business owners from throughout the Twin Ports and Northeastern Minnesota. Award categories include Micro Entrepreneur, Emerging Entrepreneur, Established Entrepreneur, Mature Entrepreneur and Environmentally Engaged Entrepreneur.

 

 

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2517 Hits

Superior Choice Credit Union Encourages Youth to Get Financially Fit during National Credit Union Youth Month

Credit Union Strong Facebook Cover

Financial literacy is a crucial life skill for young people, but it’s one that too few are learning. That’s why in April, Superior Choice Credit Union is focusing on helping youth become more financially fit. April 25-29, Superior Choice Credit Union will be hosting events that will help local youth strengthen their money skills and pump up their savings.

 

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#FinancialFridays Should you plan to retire on 80% of your income?

Examining a long-held retirement planning assumption.

Provided by Dennis Archer

A classic retirement planning rule states that you should retire on 80% of the income you earned in your last year of work. Is this old axiom still true, or does it need reconsidering?

Some new research suggests that retirees may not need that much annual income to keep up their standard of living.

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#FinancialFridays Retirement now vs. retirement then

Today's retirees must be more self-reliant than their predecessors.

Provided by Dennis Archer

Decades ago, retirement was fairly predictable: Social Security and a pension provided much of your income, you moved to the Sun Belt, played tennis or golf, and you lived to age 70 or 75.

To varying degrees, this was the American retirement experience during the last few decades of the previous century. Those days are gone; retirees must now assume greater degrees of financial self-reliance.

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2304 Hits

Help us raise $500 for the Hermantown All Night Grad Party

Our Hermantown branch grand reopening celebrations start today with a fundraiser! For every new checking account that is opened at our Hermantown branch on Thursday, April 7 and Friday, April 8 we will donate $10 toward the Hermantown High School All Night Grad Party. Help us reach the goal of donating $500 toward the All Night Grad Party!

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2303 Hits

Incoming wire transfers are down

Dear Superior Choice Credit Union member,

Due to technical difficulties, we are unable to accept incoming wire transfers until 12 p.m. CDT on Thursday, April 7, 2016.

We are working diligently to correct this issue, and will keep you updated if our timeline changes. Please contact us at 800-569-4167 for questions and assistance.

Thank you for your patience while we work through this. Your membership is greatly appreciated.

Sincerely,

Superior Choice Credit Union
2817 Tower Avenue, Superior WI 54880
1-800-569-4167 | www.superiorchoice.com

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2510 Hits

Superior Choice Credit Union to celebrate Hermantown branch grand reopening with fundraiser, ribbon cutting ceremony

HERMANTOWN, MN – Following the completion of an extensive remodeling project at their Hermantown branch, Superior Choice Credit Union plans to hold a grand reopening celebration in early April.

Festivities include a Hermantown All Night Grad Party fundraiser, ribbon cutting and cook out, a checking account special, a cash giveaway, and more.

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2175 Hits

Share certificate special starts today!

​Thirteen is your new lucky number! That's because starting today, you can get a 13-month share certificate with 1.13% APY* This special rate is around for a limited time only, so don't delay! The rate is subject to change or discontinue at any time.

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Finally Fridays at the SCCU Denfeld branch

​Superior Choice Credit Union's Denfeld branch was host to the Duluth Area Chamber of Commerce's Finally Fridays event today! Finally Fridays is one of the Chamber's monthly networking events which provides its participants opportunities to network with one another. Today we had about 40 people turn out to network, check out the new branch, and have some breakfast. Our doughnut muffins from Harbor City Sweets were a big hit. Thanks to everyone who turned out for a fun Friday morning. We were happy to showcase our newest branch!


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