Money Management
This is the process of creating a plan to spend your money wisely.
What is budgeting?
What document is usually required to summarize your education, skills, and work experience?
What is a resume?
This feature, available through some banks, allows you to temporarily block transactions on your debit card if it's misplaced.
What is a card lock or freeze feature?
What is the term for a monthly payment you make when you’ve taken out a loan to buy a car?
What is a car loan payment?
What is the main difference between a credit union and a bank?
What is credit unions are member-owned, while banks are for-profit?
This is a popular budgeting method, dividing your expenses into three categories: necessary expenses (needs), optional expenses (wants), savings
What is the 50/30/20 method
Name one type of financial aid other than scholarships.
What is a student loan or a grant?
What is one feature of mobile banking apps offered by credit unions?
What is mobile check deposit or account balance tracking?
What is a number that represents your creditworthiness?
What is a credit score?
What is one way credit unions educate their members about money management?
What are financial wellness workshops, school presentations or online resources?
You should check this often to make sure all transactions on your debit card are accurate.
What is your bank account statement or balance?
If you have a loan out on a car, you will need this type of car insurance.
Full coverage car insurance, which includes: Collision Coverage and Comprehensive Coverage
These coverages protect the lender's financial interest in the vehicle until the loan is paid off.
This allows users to effortlessly explore options, analyze scenarios, and gain valuable insights to support their own financial well-being.
What is a Banzai Pocket Advisor?
Accessible through the SCFCU Website, under the Financial Wellness Section
Unlike a credit card, a debit card does not help you build this financial score.
What is a credit score?
What is a financial product often offered by credit unions to help members save money
What is a savings account or a certificate of deposit (CD)?
This method consists of you setting aside a specific amount every time you get paid for savings and debt payments, then spend the rest of your money however you see fit
What is the "pay yourself first" method
The first step to building credit is opening one of these accounts with a low limit.
What is a credit card?
SCFCU has a CC with APR's at 10.99% while most Commercial Credit Cards are averaging 28%-35%
Sharing your account passwords with someone else can make you vulnerable to this kind of unauthorized action.
What is account hacking or unauthorized access?
Name one factor that influences your credit score.
What is payment history, credit utilization, length of credit history, new credit, or credit mix?
What is one way credit unions give back to the community?
What is sponsoring local events, volunteering, or providing scholarships?
What is an emergency fund
These reasons fall under what category: Pay for a car repair (flat tire, car accident costs, etc.), Pay for lost school property, random data overages (surprise bills!), get out of little money concerns that creep up
Social media quizzes asking for details like your mother’s maiden name may actually be trying to steal this.
What is your personal information or security answers?
You should regularly review this feature in your payment app to ensure no one has unauthorized access.
What are your linked accounts or authorized devices?
To build credit responsibly, you should avoid maxing out your credit card and instead use less than this percentage of your credit limit.
What is 30%?
Credit unions offer loans with this type of interest rate and share profits with members in forms like dividends or reduced fees.
What are lower interest rates and member benefits