Credit Unions For State And Military Employees

Among the vehicles that have been set up to help military families are credit unions and assorted websites and organizations to teach financial literacy. But they can’t help anybody that isn’t aware of them and/or doesn’t use them. There is a lot of good information out there but it doesn’t come to you and you have to know how to find it. Catch 22.

A credit union is very different from a bank even though they both usually offer basically the same consumer services. A bank is owned by a limited number of people. A credit union is owned by its members. It is a cooperative, or co-op. That’s why they can charge less for services, and pay more in interest than many banks. If you have access to a credit union, it’s a very good place to keep your personal financial accounts.

Many credit unions offer consumer classes and you can also find them online. But the sad fact is, too many people learn how to handle a checking account the hard way. Don’t let that happen to you.

If you can join a credit union, ask them if they have money-handling classes for beginners. A class can help you feel less alone about your money fears. Handling a paycheck can seem a lot like trying to grab a water-weenie—the harder you try, the quicker it jumps out of your hand.

There are excellent resources available online to help you learn about money. The first thing you must know is you are not alone. Surely you’ve shared your frustration with others in your situation. Well, don’t just sit and grouse together—get together and take a class in money management! And while you’re at it, pool your talents into a barter group if you haven’t done so already.

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