Dear Home & Family Finance Resource Center Subscriber:

Members’ Money Skills Toning Up With Fitness Challenge

Credit unions have taken the challenge to help their members build financial muscle. After just one month of competition more than 600 credit union members throughout the U.S. have registered to participate in Home & Family Finance Resource Center’s Financial Fitness Challenge.

American Airlines Federal Credit Union (AA Credit Union) in Fort Worth, Texas, deserves a trophy for claiming one-third of the participants trying to get in shape.

Because the credit union is focusing on member education, Pedro Noda, AA Credit Union Webmaster, says the Challenge series fits in perfectly with his credit union’s marketing plan.

Noda takes the monthly Fitness Challenge topics and finds other corresponding H&FFRC articles to create his monthly e-mailed newsletter. Of the credit union’s 202,000 members, 76,000 receive the newsletter.

"What a wonderful creative approach to promoting financial responsibility. Fantastic idea ... creating the Challenge and the follow-up charting of progress. Great job ... Congratulations on yet another relevant, enjoyable and practical read," one member told Noda.

Get registered and join the Challenge. Share your thoughts on the message board.

The next exercise? Getting American Airlines--yeah, the actual airline-- employees, including the credit union employees, to participate in the Challenge. According to Noda, the $50 Visa gift card prize should draw many participants.

February’s Fitness Challenge involves creating a family spending plan. Many people shy away from the term "budget," thinking it will cramp their style when it comes to money management. The fact is a spending plan frees you up to achieve the things you want to. You’ll want to include your family members as well.

Budget Blueprint: Design Your Own Spending Plan

For more information click here

Do you have financial goals? Then you need a budget. If you don’t have financial goals then you need to make some, and then create a budget. A statement stuffer from Credit Union National Association, “Budget Blueprint: Design Your Own Spending Plan,” helps members establish one. An extended table covers categories from shelter to installment payments. Tips and advice motivate members to start and stick to a budget, assist with budget analysis, and suggest ideas for long-term financial planning.

Budget Blueprint Interactive CD-ROM
Offer members this handy CD-ROM to track their household finances and set realistic savings goals via Microsoft Excel spreadsheets. With the click of a button, they can print a pie chart that shows how much they're spending on each budget category and adjust their household spending to reach their financial goals.

For more information click here

And for details about creating a spending plan participate in this month’s Financial Fitness Challenge (see details above).

Remember, your members can win cash by participating in the Challenge, and your credit union staff can win prizes (surprise prizes!), too (details in a later issue) for high participation.

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New Home & Family Finance Resource Center content featured in February:

Research, Plan, and Budget for That Special Vacation (featured week of Feb. 5)
You’re finally going on that dream trip. The people at your credit union can help you prepare. (tl-1703)

Negotiate Before Accepting Employer’s Buyout Offer (featured week of Feb. 12)
When your employer offers you a buyout package to leave the company, it can come as a rude shock, a welcome opportunity, or anything in between. (er-1702)

Construction and Bridge Loans Match Special Needs (featured week of Feb. 19)
People building or buying a new house while trying to sell their old one may need to turn to special types of financing: a construction loan or bridge loan. (ml-1700)

Will Insurance Consumers Benefit From Modernization? (featured week of Feb. 26)
Pressure for change is on the insurance industry. How will these changes affect consumers? (in-1701)

Phishing: Don’t Take the Bait Video Clip
Online banking makes money management easier than ever. But along with the convenience there comes some risk, including a scam called phishing. The newest Home & Family Finance Resource Center video clip explains what phishing is and how to protect yourself and your computer. Look for this new video on the Resource Center’s home page in February.

Use these "In the next issue..." messages in your traditional newsletter and online to regularly tell members what's coming in the Home & Family Finance Resource Center as you remind them to visit your Web site. Also remind your members to participate in February’s Snap Survey about the 2007 Financial Fitness Challenge (featured beginning Feb. 5).

Get the April articles here

In the March issue (available beginning March 5)

Financial Fitness Challenge--
Organize and file your taxes, review and/or change your W-4, and review and/or change all beneficiaries.

Launching Your Own Business: Are You the Type?
If you’re contemplating starting your own business this article can help you decide if doing so would be a good move for you.

Life Settlements: Proceed with Caution
Life settlements: What they are, how they work, and what to look out for.

Hostel vs. Hotel: A Good Option for Travel on the Cheap?
Try this old-new travel option: Stay at a hostel.

Ethanol: Home Grown, Less Polluting, But You’ll Pay More
Fuel across the country has long contained about 10% ethanol to help reduce air pollution. But E85 is just becoming widely available.

Looking for fresh ways to attract members to your Web site and to the Home & Family Finance Resource Center? Send these "coming soon" announcements to your sponsor/sponsors and suggest that they be posted on the Intranet or published in the sponsor newsletter every month.

What do you like about your Home & Family Finance Resource Center subscription? What would you change? What would you tell colleagues at another credit union about the Resource Center if they were considering a subscription? Have good ideas to share about how you promote it to your members?

Click here to let us know.