Blog Archive

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Tuesday, August 23, 2022

Should I Keep Cash at Home?

Hundred dollar bills stuffed under a mattress.We’ve all heard of a family member or friend who swears keeping cash at home is safer than in a bank or credit union, especially during times of inflation. While it may be tempting to hide away your nest egg in your sock drawer or stuffed under the mattress, keeping large amounts of money at home is one of the riskiest ways to keep your cash.

To safeguard your funds and your peace of mind, Community Financial is here to answer all of your questions about handling cash during times of inflation.

Why is it a bad idea to keep cash at home?

While it’s perfectly OK to keep some cash at home, storing a large amount of funds in your house has two significant disadvantages:

  • The money can be lost or stolen. Hiding cash under the mattress, behind a picture frame, or anywhere else in your house always carries the risk of it being misplaced, damaged, or stolen. As careful as you may be, circumstances beyond your control may cause you to lose that money.

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Tuesday, July 12, 2022

Raising Financially Independent Children

Child saving money while parents look on proudlyRaising children in today’s society has a variety of challenges, but none so timeless as the need to teach one’s children about finances. Financial education is a topic often missed in traditional schooling, leaving parents and loved ones to teach healthy financial habits on their own. While it may seem overwhelming to do so, raising financially independent children will help smooth the transition into adulthood, giving them the tools needed to achieve and maintain financial wellness throughout their entire lives.

 

To help get your financial education discussion rolling, we’ve compiled a variety of tips for raising your children to be financially independent.

 

Start with the Basics: Budgeting

 

Successful budgeting is the foundation of every financially independent household. You can introduce your children to the concept of earning money and spending it mindfully when they’re still young, and then build upon that knowledge as they grow older.

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Tuesday, April 12, 2022

Financial Literacy Month Resources

Family

Did you know that April is Financial Literacy Month? While it’s a good idea to keep your financial education up to date all year long, now is the perfect time to take a step back and reassess your finances and the techniques you use to stay financially literate. Whether you’re looking to brush up on your own knowledge, or learn tips for teaching money-smart choices to your children, there’s always something new to learn. Below, you will find a handful of our favorite financial resources to help build your knowledge during this year’s Financial Literacy Month!

 

 

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Tuesday, October 19, 2021

Celebrating International Credit Union Day


As a proud Michigan credit union, Community Financial was pleased to celebrate International Credit Union (ICU) Day® on October 21, 2021. Since 1948, ICU Day has embodied the spirit of the global credit union movement, recognizing the history, achievements, and hard work that goes into creating the best member experience. This year, we celebrated the 73
rd anniversary of ICU Day with the theme “Building Financial Health for a Brighter Tomorrow.”
Our Michigan Avenue branch celebrated
International Credit Union day with
drinks, snacks, and coloring pages
to help share the ICU Day spirit!

Are you on track to build a brighter tomorrow with your financial health? Community Financial is here to help, no matter what your finances look like. Your credit union membership provides a variety of benefits:

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