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| education |
financial literacy
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Protect your Credit Union Debit Card
Each time you use your debit or credit card, a merchant is paid immediately and the credit union that issues your card receives interchange. This makes it convenient for you, the member, to easily use your card all across the country at thousands of businesses. If you carry a debit card issued by Norbel, interchange supports the card program you depend upon. If current legislation goes through, you and your credit union would be charged and using your card would be more expensive.
If that concerns you, you can make your voice heard to congress. Tell your congress person by letter or email. Visit, the Credit Union Association of Colorado's site now to find out how
Protect Your Credit Union's Card Program
How's your debt? Is it under your control?
Try the website www.debtinfocus.org. It's anonymous and it really works! Add in your credit cards, mortgage, car loans, all of it. You'll be able to see where you stand, how much you need to save and how long it will take for you to erase your debt. Or at least get it under control. And staying in control of your money is what it's all about.
Check it out at www.debtinfocus.org
Did you know...
LITTLE MORE THAN HALF OF PARENTS ARE "VERY
CONFIDENT" THEIR CHILDREN WILL LEAVE HOME KNOWING
HOW TO MANAGE MONEY
That's all! Moreover, nearly three-fifths (59%) of parents surveyed said they would find it useful for them and their children to have available a new free website featuring hard-hitting messages about using checking and credit that were communicated by young adults through short videos. FoolProofMe.com,is exactly that - a web-driven group of programs uniquely targeted to teach young people about money and financial responsibility. And FoolProof is now making available just such a free website.
Read about it! and check out FoolProofme.com
Are You FoolProof?
Where do you get real answers, not infomercial or hype?
Right here at Norbel Credit Union with FoolProof!
In these times of economic stress, being educated about your finances can make all the difference. The FoolProof Initiative is what we call our tough, real, consumer education program. FoolProof uses highly interactive online "modules" and dynamic websites to reach people of all ages.
Check out these free programs on our website:
- Information Edge - If you've ever worried about money and making the right decisions when it comes to money, IE provides straight answers and unbiased information on dozens of consumer issues - it's an online newspaper that features videos, podcasts, and breaking news.
- FoolProof for Parents & Grandparentsinvolves parents and grandparents in their children's financial education. All modules feature videos, music, and games. That you can actually take a test and get the results
- CUHQ is FoolProof's year-round consumer website for young people. CUHQ gives a heads-up on the real world as you head to college or a job. CUHQ features no-nonsense articles on cars, college, money...and much more.
Click Here if you want more financial education to make yourself FoolProof!
Your Guide to Health Savings Accounts
The rising cost of health care has prompted much debate over health insurance and how Americans pay for it. Some health care consumers are unaware of their options or unsure of how to take advantage of tax-favored tools such as health savings accounts (HSAs).
What is an HSA?
Flexibility. Control. Portability. Tax-Advantaged.
HSAs were established to provide people covered by high-deductible health insurance a tax-advantaged way to save for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis*. When combined with a high deductible health plan (HDHP), HSAs are an excellent alternative to traditional health insurance. HSAs have been available since Jan. 1, 2004.
They are an attractive alternative to medical savings accounts (MSAs) and flexible spending arrangements (FSAs), because HSAs have far fewer restrictions and allow unspent balances to accumulate year after year. An individual, not an employer, owns the HSA and makes decisions regarding contributions and distributions. HSAs can be funded by you, your employer or both, and accounts can be set up through financial institutions, health insurance providers or other approved administrators.
In addition to providing a tax-free way to save for medical expenses, HSAs give account holders more control over how their health care dollars
are spent. Plus, with Norbel, HSAs can earn a competitive rate while the funds are being saved.
For more detailed information, visit these sites - Health Savings Account FAQs or HSA Brochure
How can I open an HSA?
To open an HSA, a person must meet the following criteria:- Have coverage under an HSA-qualified HDHP
- Have no other first-dollar medical coverage (i.e., Tricare Coverage, Flexible Spending Arrangements, Health Reimbursement Arrangements)
- Are not enrolled in Medicare
- Cannot be claimed as a dependent on someone else's tax return
To access your HSA funds, Norbel now offers specific HSA Debit Cards along with checks for your convenience.
Call us or visit any of our branches to enroll.
*Always consult your tax advisor for your unique financial situation.
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Interested in Financial Literacy Seminars? Give us a call at ext 8450.
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