One for All Alaska Blog

What is Compound Interest?

Posted by Credit Union 1 on May 24, 2016 8:00:00 AM

In case you haven’t heard, compound interest is the best. You may remember it as an equation you had to memorize for math class, but it’s so much more than that. It’s the concept that powers all sorts of savings and investment products and, over time, allows you to turn your money into, well, more money!

Even though compound interest is easy to understand — compound interest = more money for you! — those who can potentially benefit most from it (those in their teens and 20s) don’t seem to be taking advantage of it. Savings contributions and retirement savings participation rates are falling among young adults. So if we understand that compound interest translates into free money down the road, what could possibly be standing in the way? 

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Topics: Financial Fitness, It's A Money Thing, Savings

Emotional Volunteers and Amazing Fundraising Results

Posted by Jessie Lavoie on May 13, 2016 4:13:26 PM

As spring blossoms in Alaska, so do the many opportunities to get out into the community! We volunteered 686 hours in April which pays the salary of 4 full time development staff for a month. This is a great reminder that often time is more valuable than money!

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Topics: Giving Back, Community

What's Inflation?

Posted by Credit Union 1 on May 10, 2016 10:49:19 AM

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Topics: Financial Fitness, Infographic, It's A Money Thing, Savings, Budgeting

The Basics of a Loan

Posted by Credit Union 1 on May 3, 2016 10:24:22 AM

Loans help finance some of our biggest goals in life. They can provide access to possibilities that we can’t afford upfront—possibilities like going to school, buying a home or starting a business (to name just a few).

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Topics: Financial Fitness, Infographic, It's A Money Thing, Credit, Loans

Common Money Beliefs

Posted by Credit Union 1 on Apr 27, 2016 11:46:08 AM

As someone who’s old enough to read this blog, you likely have some experience with spending and earning money. Whether your experience is big or small, most people have developed a common set of beliefs or understandings about money by the time they reach adulthood. How accurate are your ideas? And could a change in perspective help you better reach your financial goals?

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Topics: Financial Fitness, Infographic, It's A Money Thing, Budgeting

Credit Score Breakdown

Posted by Credit Union 1 on Apr 19, 2016 9:25:27 AM

You’ve likely heard about credit scores before (thanks to all those commercials with terrible jingles), but what do you actually know about them? How long have they been around? And what’s the deal with checking them?

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Topics: Financial Fitness, Infographic, It's A Money Thing, Credit

Comparing Cards

Posted by Credit Union 1 on Apr 12, 2016 1:25:15 PM

Cash, check or card? Debit, credit or prepaid debit? You make this decision so many times a day that it might seem common and unimportant. After all, different forms of payment are just different ways to access funds, so what difference does it really make if you put your breakfast sandwich on credit instead of debit?

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Topics: Financial Fitness, Infographic, It's A Money Thing, Credit Cards, Spending

The Basics of Budgets

Posted by Credit Union 1 on Apr 5, 2016 11:18:02 AM

Budgets are like the New Year’s resolutions of personal finance. We all know we should have one and we all know it’s a fairly simple thing to follow—at least in theory. Like resolutions, we often map out personal budgets with the best of intentions, only to abandon them a couple of weeks later.

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Topics: Financial Fitness, Infographic, It's A Money Thing, Savings, Budgeting, Spending, How To

How to Prepare for a Layoff

Posted by Credit Union 1 on Mar 24, 2016 12:04:13 PM

Has the steady employment you depend on suddenly come to an end? Many Alaskans are finding themselves in unsure waters these days as our job market changes and the economy adapts. If your own job is ending or at risk, there are steps you can take to prepare for the future! Act now before your bank account suffers – and remember that you always have a helping hand at Credit Union 1.

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Topics: Savings, Budgeting, Alaska, Credit, Loans, Spending, How To

March's Community Update

Posted by Jessie Lavoie on Mar 16, 2016 8:46:31 AM

Hands On

The beginning of the New Year was very busy for CU1! We volunteered 551 hours which equals about five months of a development officer’s salary for most of our nonprofit partners in Alaska! Perhaps the most exciting and popular volunteer opportunity was the Alaska SeaLife Center Marine Gala on February 13th. Nine of us were responsible for checking guests in, collecting valuable donor information and checking guests out. While this is a lot of responsibility and trust, we were so excited to do it! We even got to dress up in formal suits and nice dresses, fancy!

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Topics: Giving Back, Community

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