Freddie Yeawary’s Post

Reflecting on last year and looking ahead to this year, growing deposits will continue to be a priority for credit unions. To learn more about the opportunity for credit unions to strengthen community relationships while growing deposits, read our latest blog. https://hubs.ly/Q02hpt0z0

𝑪𝒓𝒆𝒅𝒊𝒕 𝑼𝒏𝒊𝒐𝒏𝒔 𝒂𝒏𝒅 𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝑳𝒊𝒕𝒆𝒓𝒂𝒄𝒚 𝑴𝒐𝒏𝒕𝒉: 🧩𝑨 𝑷𝒆𝒓𝒇𝒆𝒄𝒕 𝑴𝒂𝒕𝒄𝒉! What is the most important thing you learned about money as a kid💵? This is a busy month for many Credit Unions as they place a huge emphasis on community empowerment and education. It's a great opportunity to help people understand the role of credit unions within their communities and to educate them on financial literacy. Connect with your local #CreditUnion and see what they are doing this month! #finance #money #experienceJobTracks

Community banks are subject to rigorous federal and state banking regulations. They are required to pay federal and state taxes, including income taxes, as for-profit businesses. Community banks raise capital through selling shares and generating profits. This capital is crucial for expansion, innovation, and sustaining operations. We are dedicated to serving the financial needs of their local communities. https://bit.ly/40xFkU7 #mutualbanks #jarrettsvillefederal

Predatory lending impoverishes underserved communities. Full stop. There is no debate. Here are the characteristics to spot predatory loans: ❌ Super high-interest rates - If the interest rate seems outrageous, it probably is. ❌ Short repayment terms - This makes it hard to keep up and can trap recipients in debt. ❌ Pressure to sign quickly ❌ Zero grace period and insane late fees Commonlands aims to prevent underserved individuals from participating in this kind of loan program by: ✅ Empowering them with financial literacy training. ✅ Providing them with fair credit of as low as 2.5% monthly interest. Financial literacy and better alternatives are your best defense against predatory loans. Remember, people take these loans out of desperation, often due to financial emergencies. That is what these lenders prey on.

April 25th is National Teach Children to Save Day! Of all the financial lessons we can impart to our children, saving is important. It's a lesson that can start early with a good old-fashioned piggy bank and conversations with your kids. If you're not sure how to talk to your kids about money, here are a few starting points: ⭐️ Discuss Wants vs. Needs ⭐️ Let Them Earn Their Own Money ⭐️ Set Savings Goals ⭐️ Provide a Place to Save ⭐️ Have Them Track Spending Member FDIC | Equal Housing Lender

Transforming access to affordable credit! With 1 in 3 adults struggling to get loans, our #GetToYes campaign empowers #CreditUnions to better serve the financially underserved🤝 Let's build a future where everyone has access to the support they need✅ https://lnkd.in/erKZhJBQ

Behind every great community, there are great bankers…… Let’s talk about the power of business bankers in driving economic development and change. Business bankers are more than just financial advisors. They play a crucial role in the economic health of our communities. Here’s how: 1. **Connecting Businesses:** Business bankers often act as connectors. They introduce entrepreneurs to potential partners, investors, and clients, fostering a network that drives growth and innovation. 2. **Providing Insights:** With their vast knowledge and access to financial data, bankers offer valuable insights into market trends and economic conditions. This information helps businesses make informed decisions and strategize for the future. 3. **Supporting Local Projects:** Banks are heavily involved in funding local projects that boost community development. Whether it’s financing a new local business, supporting infrastructure projects, or investing in community programs, their contributions are vital. 4. **Economic Stability:** By providing loans and financial support to businesses, bankers help ensure economic stability. They enable companies to expand, create jobs, and contribute to the overall prosperity of the community. Good bankers don’t just manage money—they drive economic development and foster positive change. They are the backbone of a thriving economy. **P.S.** How has your business banker made a difference in your community? Share your story below!

Revenue-based repayment finance involves repaying a loan as a percentage of the borrower’s revenue until full payment is reached.  With some CDFIs starting to consider this as a viable alternative to regular term loans, this short article explores some of the pros and cons of revenue-based repayments. https://lnkd.in/dzs78cMw

"Financial Accountability: Team Up for Debt Freedom" "Accountability breeds success. Find an accountability partner or join a community of like-minded individuals to stay motivated on your debt-free journey." Tip: Share your debt-elimination goals with a trusted friend or family member who can support and hold you accountable. You can also join online debt-free communities for inspiration and guidance. Action Step: Reach out to someone you trust and share your debt-free goals with them. Together, establish a system for regular check-ins and support.