While losing weight is a top New Year’s resolution for many, losing debt is also a sure way to make 2011 a great year. One Maine credit union, Maine State CU in Augusta, is helping members reach their financial goals with the online tool, Debt in Focus. This web application analyzes a member’s debt. After answering a few questions about income and current debts, a simple financial analysis provides the user with a wealth of information, including debt to income ratios, debt payment schedules, and suggested personal action strategies to help keep the member’s finances moving forward.
Dan Emery, Marketing Specialist for the credit union, said that this is a tool that members have been using regularly, and is a great way to get started on a budget. “We want to give our members the tools they need to gain financial control. Having a budget, tracking expenses and creating a plan are the first steps in this process,” he said.
Credit unions throughout the state have many ways to help you become financially fit, from tools like Debit in Focus, to Financial Literacy fairs, workshops, as well as helpful articles and other online resources. Visit a credit union’s website, or stop in your local branch to start 2011 on the right financial foot!
-Diana D., Maine Credit Union League
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