Business View Magazine June 2023

141 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 6 TCT FEDERAL CREDI T UNION Since 1935, CUNA Mutual Group has helped credit unions plan for the future. Now, as TruStage,™ we're bringing together nearly a century of our strength and expertise to insurance, investment and technology solutions. It's all here, under our new name. And it's all designed to help you and your members plan for tomorrow. Learn more at www.trustage.com/learn-more We’ve been thinking about for nearly a century. TOMORROW CUNA Mutual Group is a marketing name for CMFG Life Insurance Company and its subsidiaries. TruStage™ is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Confidence at every stage Insurance | Investments |Technology CORP-5522789. 1-0323-0425 Other Americans decided to focus more on a career with a clearer work/life balance. That was possible as consumers increased their personal savings rates and investments rose. While that is starting to change, the labor market remains tight, Cecala says. “It has been difficult for us to hire new professionals,” he adds. “People have been able to move around more and demand higher salaries because the demand has been so high.” The worker shortage issue could change if unemployment and consumers see more of their savings erode. Cecala says there are signs that consumer spending has dipped in recent months and that some members are forced to make difficult spending decisions for their own households. As a result, one of the main goals of the credit union is to help both teens and adults understand key financial literacy concepts. TCT partners with Banzai, a company that offers free online financial literacy courses for students, using some of its tools while in the classroom. TCT Community Relations Manager Jeannie Dickinson works with her TCT colleague Morgan Keith to conduct educational classes and training sessions, which often include Banzai curriculum, in middle and high schools in the region, where they talk about such topics as buying a car. Many teenagers don’t understand all the costs that go into a vehicle purchase from insurance and gas to registration tags, and why vehicles may not be as affordable as they think without some prior planning. Says Dickinson, “Whatever we can do to visit and educate schools and our employer groups is important.” Such topics as developing good budgeting habits can provide the support households require to remain financially stable. TCT partners with debt counseling firm GreenPath, to provide one-on-one counseling and other free consulting services for members