During the “Great Recession” our retirement savings took a massive hit (even worse than our Baby Booming parents), many of us are unemployed or underemployed, and our homes (those of us who owned them) have lost a lot of their value. This according to CNNMoney. Never mind the fact that we’re dealing with high debt levels that include mortgages, auto loans, credit cards and student loan debt.

And now, those up-and-coming Gen-Y kids are coming after our jobs . . . well, enough about them already.  At least time is still on our side, right?

Not so fast. “Including Social Security benefits, Gen X’ers are projected to have enough money in retirement to replace only half of their annual pre-retirement earnings.” The typical recommendation is 70% to 100%.

Whatchyou talkin’ ‘bout Willis?

Well, as Diana Elliott of Pew’s economic mobility project says: “Unless this path is altered… Gen Xers may face a real possibility of downward mobility in their Golden Years.” What’s that mean in “normal people” terms?

Glad you asked. Simply put, we’re either going to have to find ways to boost our retirement savings, work longer (assuming we can) or live on less when we reach retirement age. I don’t know about you, but I think the first option sounds like the most realistic and enjoyable.

So here’s my challenge, fellow Gen-X’ers: Do something about it! Change your course and get moving in a direction that has you not just having a retirement, but enjoying your retirement with comfort and peace of mind.

Of course, I don’t expect you to do it alone. Get the trustworthy advice and guidance of ClearFuture Financial, available through CFS* at 3Rivers. Trust me, these guys know their stuff AND they care about your future. Set up your complimentary, no obligation appointment today to see what they can do for you.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The credit union has contracted with CFS to make non-deposit investment products and services available to credit union members. ClearFuture Financial is a trade name for the investment & insurance products available at 3Rivers Federal Credit Union.

1. Consolidate Your Federal Student Loans.

Consolidating multiple loans into a single payment, not only makes managing your repayment easier, it will probably save you money by reducing your monthly payment, and helping you pay off your debt quicker.  Direct Consolidation Loans is a webpage maintained by Federal Student Aid that has information on consolidation, and an application.

2. Consolidate Other Debt

College is also the first time many of us have credit cards, medical expenses, and other loans that we have to repay.  The same principle applies to consolidating these debts.  Consolidating can make debt easier to manage because there are fewer monthly payments to make.  You can also spend less on payments every month and pay less in the long run.

Here’s a video that gives a little more information about how 3Rivers can help you consolidate your debt, and make it more manageable.

It might be tempting to take your savings, and catch the next flight to Vegas, but I’d recommend creating a solid financial plan for your future first.

Mobile Bill Pay will be released soon for Apple and Android devices and it’s a true innovation in our industry.

What makes 3Rivers Mobile Bill Pay so innovative is the ability to pay your bills simply by taking a picture of your billing statement. The app will recognize the payee information from the picture, then you just enter the amount you’re paying and the payment date, and that’s it! It’s another way we’re working to make your money matters simpler. Not only can you save on stamps by paying bills electronically, but now you can save precious minutes by paying bills anywhere and anytime right on your smartphone or tablet!

Keep following the 3Rivers blog to learn more about how Mobile Bill Pay will help you save time and money!

WalletCare isn’t just for people who are struggling financially. Money matters are complicated and anyone may wonder if his or her future is truly sound. Even though your day-to-day finances are working just fine, maybe you’re concerned about securing your family’s money matters for the future. We want to find those opportunities to build a future that will give you even more peace of mind knowing you have everything covered for decades to come.

Savings accounts are great, no doubt about that. When you need to put some money away for an upcoming expense, or just for a rainy day, your Standard Savings account is a great tool. But if you’re planning something big…really big…like college tuition or retirement big, it’s a good idea to look at all of your options, and that’s what the last part of the WalletCare Promise is all about.

Even if you’ve already started your financial planning, we can give your portfolio a look and help you decide if there are changes that need to be made. Many people start a retirement plan, but don’t realize they’re in the wrong plan until it’s too late. We want to help you avoid that. After all, it’s your plan. Shouldn’t you be able to decide how it will work for you?

When you sit down for your WalletCare conversation (which I’m sure you’ve already scheduled with your local branch, right?), be sure to ask how we can help you solve those future financial needs too. We’re excited to be your partner in taking care of all your family’s money matters, both now, and for years to come.

That’s what WalletCare is all about.

We pride ourselves on having competitive rates on 3Rivers deposit accounts, but even more than that, we want to take the time to compare your current deposit accounts to see where you could save money on more than just rate.

That’s right, there’s more to a deposit account than just the rate, and when you sit down for a WalletCare conversation, we’ll look at things like fees, balance requirements, convenience factors, and other details that you may not realize are impacting your current accounts.

Fees

Every bank and credit union charges fees. Yes, we do too. But where we strive to set ourselves apart is our ongoing effort to help our members avoid fees whenever possible. At 3Rivers, we only charge fees for two basic reasons. Fees are meant to either make up the cost of providing a specific service (Foreign ATM fees) or to encourage healthier financial habits (Overdraft fees). If you ever want to know why a fee has been charged, just ask. We aren’t trying to hide fees, and we’ll always try to give you options to avoid them in the future. That’s one way we can determine the best deposit account for your spending needs.

Balance Requirements

That exciting deposit account you’ve seen advertised may seem great, but when you realize that it requires a minimum balance that isn’t realistic for you, that account may lose some of its appeal. If you’re looking for real answers about those “great deals” we’re happy to dig deeper with you and find out if they’re really as good as they sound. Chances are, 3Rivers probably has a better option for you.

Convenience Factors

Time is money. In most cases, even a slight rate increase is worth the convenience 3Rivers can provide. With 18 convenient branches, thousands of surcharge-free ATMs, and 24/7 access online and on your mobile devices, it may make more sense to keep your accounts at 3Rivers to avoid the hassle of dealing with an institution you can’t get to. Your WalletCare conversation will give you a chance to see just how convenient a 3Rivers membership can be.

Everything Else

Then there’s the rest. The key to a WalletCare conversation is taking the time to really examine your financial needs to find the right solutions personalized for you. We’re not just dealing a pre-packaged account bundle to everyone. We’ll listen to your needs and find the best way to save you time and money, not just with your deposit accounts, but with all of your money matters.

Debt. Even typing the word makes me shudder a bit. We know how burdensome debt can become, but we also know that debt is a necessary part of most of our financial lives. That’s why we make a point to examine our member’s debt situation during a WalletCare conversation. We aren’t interested in simple saddling our members with more debt. We want to help our members borrow better.

We know you have to borrow money occasionally. It happens. The key to our conversation is finding the best solution to make that debt manageable. In addition, if you’ve already borrowed somewhere else, but those debts are making life difficult for you, we want a chance to make that debt easier by moving it to 3Rivers.

How can debt be easier? There are a couple different ways to lessen the financial weight of your debt. First, you can refinance your debt to lower your monthly payments, freeing up more money each month so you can actually save for your future. But monthly payments aren’t the only way to save money. You can also restructure your debt to save a LOT of money over the life of your loan. By shortening the term of your loans, not only will you pay off your debt sooner, but you will also end up paying substantially less interest. These are the benefits of sitting down for a WalletCare conversation and taking the time to examine all of your opportunities.

If you’re interested in sitting down for a WalletCare conversation with us, visit your local 3Rivers branch today!

When we say comprehensive, we mean comprehensive. We aren’t interested in just signing a few docs and sending you on your way with a new loan or account. We want to be sure we’re delivering true service to our membership and that means giving you our full attention every time we sit down with you.

We can answer all of your questions about your money matters, and we may ask a few of our own. To really provide the best financial solutions for your individual situation, we’ll have a productive and interactive conversation using tools that can determine where we might be able to offer better ways to spend, save and borrow. We’ll look at your debts, your savings plan, and we can even look at your household budget to find areas to make some effective changes.

Want to know more? In the Tools section of our website you can see for yourself what we use to help our members learn about their financial needs. Take a few minutes to check out these great tools, and you’ll see how important a comprehensive financial review can be for your financial health.

• Debt In Focus
• Loan Saver
• Calculators

In addition, if you’re interested in examining your credit report, we can help with that too. If you’ve ordered your own credit report through the credit bureau or through a free service such as AnnualCreditReport.com, we’d be happy to go through it with you and discuss ways to improve your credit and make a real impact on your money matters.

Again, WalletCare is no gimmick. It’s not a one-time deal. WalletCare is how we’ve always done business, and it’s how we’ll always do business, because we’re here to do one thing. We’re here to help our members make healthy financial decisions to keep our community strong.

If you’re interested in sitting down for a WalletCare conversation with us, visit your local 3Rivers branch today!

The WalletCare Promise by 3Rivers

1. We will complete a comprehensive financial review to help you find better ways to spend, save, and borrow.
2. We will review your debt to find ways to save you money in payment or total interest.
3. We will compare deposit accounts elsewhere to help you save and even grow your money.
4. We will listen to your financial goals (college planning, retirement, etc.) to help you build your desired financial future.

When you come into a 3Rivers branch for a WalletCare conversation with one of our team members, you can expect to have each of these points covered because this is the only way we can be sure we’re helping you solve ALL of your money matters.

This isn’t a one-time flashy promotion. We’re not going to toss WalletCare away in 6 months and start doing business differently. In fact, we’ve already been delivering WalletCare to our communities for over 78 years, and we don’t plan on changing that anytime soon.

Keep following the 3Rivers blog as we’ll be breaking down the WalletCare Promise and explaining how these four points can help you solve your money matters.

The third annual TEDx Fort Wayne conference starts in less than 24 hours. The theme of this year’s event is IGNITE: Ideas in Commerce, Community, and Wellness, and we’re happy to be a part of it. Last year the 3Rivers mobile lounge was a place for speakers and attendees to relax and share ideas. This year we thought we’d give everyone another way to engage their brain. Stop by our lounge anytime during lunch, and play some life sized Jenga with Jess.

We’re always looking for new ways to talk about your money matters in a simple relatable way, and Jenga is a great way to do that. It’s easy to make a mistake the first time you play, and watch as all of the blocks tumble down, but with a little practice, planning, and advice from a trusted partner it’s easy to stabalize the shakiest of Jenga towers.  Your money matters can be a lot like that, but there are things you can do to reach your financial goals no matter where you are right now.

To learn more about TEDx, and purchase a ticket, visit tedxfortwayne.com.