Resolve to Budget, Save, and Invest in the New Year. Time for New Beginnings. 5 Credit Union Perks 3 Resolutions. 2 CSE Supports Community

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1 January 2016 Time for New Beginnings "This is a time for reflection as well as celebration. As you look back on the past year and all that has taken place in your life, Remember each experience for the good that has come of it and for the knowledge you have gained. Remember the efforts you have made and the goals you have reached. Remember the love you have shared and the happiness you have brought. Remember the laughter, the joy, the hard work, and the tears. And as you reflect on the past year, also be thinking of the new one to come. Because most importantly, this is a time of new beginnings and the celebration of life." Taylor Addison Blue Mountain Arts, 1989 Resolve to Budget, Save, and Invest in the New Year January is a good time to take stock of your personal finances. You can make positive changes to your spending and saving habits, whether it's making a New Year's resolution to get spending under control, figuring out how to save for a down payment on a house, or analyzing your investment portfolio. Many people, however, don't know where to start. Where are you now? Start with a personal assessment. Ask yourself: Do you track where your money goes? Have you identified your spending leaks? Do you have a written spending plan? Do you have an emergency or rainy-day fund? Do you live within your means? Do you have written financial goals? Know the Difference. Many people think that if they don't overdraw their financial accounts, they're doing just fine. But that's not the whole story. Not even close. Having a plan for different aspects of your life is essential. Consider a plan where you: Budget for short-term goals. Save for medium-term goals. Invest for long-term goals. Ask for help! Budgeting, saving, and investing are essential components of financial wellbeing, and they require different strategies. Your friends at CSE Federal Credit Union can help you get started. We also provide an array of financial literature to help get you started. Drop by or call us today at to help you start the New Year on the right financial footing. WHAT S INSIDE 2 CSE Supports Community 5 Credit Union Perks 3 Resolutions 6 Holiday Closures 4 Financial Fitness 1

2 CSE Supports Community CSE Collected 450 canned goods for Thanksgiving this year 2

3 Resolutions Make SMART New Year's Resolutions Everyone - regardless of age - can take steps to shape up their finances. As you decide on your New Year's resolutions, think SMART - financial goals that are specific, measurable, adjustable, realistic, and timeoriented. Here are some examples of financial goals for different generations: YOUTH Collect your change. Each time you buy something, save the change you get back. Deposit the change in a container at the end of every day. Over time it could add up to a significant amount of money. Save your allowance. Whether you want to buy something you've been eyeing for months or you want to start saving for college, the only way you are going to do it is by putting your allowance away. Deposit at least part of your allowance in a share savings account at the credit union. GEN Y Open a Roth IRA (individual retirement account) and start saving. Make savings a habit and invest at least 10% of every paycheck for retirement. The longer you have to save with a Roth IRA, the more you save on taxes. Although contributions aren't tax-deductible, your money grows tax-free and comes out tax-free as long as you meet certain requirements. Consult your tax adviser for additional information. Put your credit card away. Use credit cards only when you know you have the funds set aside to pay the bill in full when the bill comes. Don't leave a balance on your credit card or you'll be charged interest. BABY BOOMERS Put your debts in priority order. Make a list of all your liabilities and organize them by the annual interest rate. Pay off those with the highest rates first, while still making at least minimum payments on all the others. Set a specific, realistic date for when you plan to achieve your goal of paying off all debts. Determine your net worth. Calculate your assets minus liabilities each year - preferably on Dec so you quickly can see whether you're gaining ground or falling behind. Your net worth should be increasing each year. If it's not, make a plan to improve it, such as pay down a specific debt or put more money into a retirement account. SENIORS Evaluate your estate plan. Establish or review your will, advance directives, and powers of attorney, and make sure they reflect your preferences and current situation. Make sure all of your intended beneficiaries are on file for all your financial accounts. Check all insurance policies. For example, know what is covered in your homeowners policy and verify your liability coverage. Call your insurance agent if you have any questions. 3

4 Financial Fitness Basic Steps to Financial Fitness Your finances and the decisions you make about them change over time and are different from your neighbor's, your boss', or your parents'. Still, some broad guidelines may help you get a handle on your financial plans. Talk to the professionals at CSE Federal Credit Union to learn about all the services available to help you meet your goals. 1For mortgages, lenders expect your payments to amount to no more than 28% of your monthly gross income (income before taxes, Social Security, and other deductions). Another method says that your PITI--the phrase for principal, interest, property taxes and insurance-- plus your total long-term debt (say, for car payments, college loans, installment payments) should not exceed 43% of your gross income. 2How much should you be saving? The conventional wisdom is to accumulate three to six months' takehome pay (income after taxes, Social Security, and other deductions) in a liquid savings vehicle. That can take time to build up, and you may need to raid your account even while you're adding to it. Still, if you consistently put aside 5% of your take-home pay, using payroll deduction, you'll reach your goal. 3For long-term retirement savings, at minimum put a percentage into your 401(k) that equals what your employer will match. Anything less and you're actually giving up free money. Ideally, contribute the maximum your employer allows, typically 15%, into your 401(k). Can't swing that much while you're saving for your child's future education expenses? Keep this in mind: You can borrow to meet higher education expenses, but you can't borrow for retirement expenses. 4 Copyright 2014 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved. Information may not reflect the practices of CSE FCU.

5 Credit Union Perks CREDIT CARDS COMING

6 4321 Nelson Road Lake Charles, LA Phone: Fax: PRESORTED STANDARD US POSTAGE PAID HOUSTON TX PERMIT NO.1769 Federally Insured by NCUA Membership & Eligibility Required Locations Main Office: 4321 Nelson Road, Lake Charles, LA Phone: Fax: Sulphur Branch: 2154 Swisco Road, Sulphur, LA Phone: Fax: Moss Bluff Branch: 1170 Sam Houston Jones Parkway, Moss Bluff, LA Phone: Fax: Hours of Operation Monday, Tuesday, Thursday & Friday Lobby: 8:00am - 5:00pm Drive-thru: 8:00am - 6:00pm Wednesdays Lobby: 9:00am - 5:00pm Drive-thru: 9:00am - 6:00pm Toll-free: Closures 6 January 1, 2016 New Year s Day January 18, 2016 Martin Luther King Day February 9, 2016 Mardi Gras March 25, 2016 Good Friday May 30, 2016 Memorial Day July 4, 2016 Independence Day September 5, 2016 Labor Day November 24-25, 2016 Thanksgiving & Day after Thanksgiving December 26-27, 2016 Christmas Eve & Christmas Day