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Icon’s four teams raised nearly $3,500 for JA, which raised nearly $100,000 total from this important fundraiser.
If you aren’t familiar with their work, you’re missing out! JA focuses its efforts on bringing financial literacy to young people across Idaho, and in only a few short years JA is now present in more than 800 classrooms – a number that grows rapidly each year.
JA’s classroom volunteer program has helped put hundreds of professionals in front of Idaho’s K-12 students to teach basic lessons about budgeting, wants versus needs and other important topics.
For more information, go to www.jaidaho.org.
By Connie Miller, President and CEO
At Icon, we’re constantly searching for stories to exemplify our commitment to our members and the community. Here’s one story we found, where Carley Lowe, one of our member relationship officers, helped a member make a wise choice regarding a boat loan. – Connie
“I’d done several loans for these members in the past, so we already established a great working relationship. They called me one day to ask about purchasing a new, very expensive boat. This was going to be a big investment for them, so I wanted to make sure they were 100% comfortable with this purchase, their monthly payment and the extended length of this loan.
After asking them several questions, talking with them about it and knowing their history, I started to think it was not the best idea for them. I told them my reservations and asked them if they would be interested in purchasing a cheaper but comparable boat, if possible. I then went through and calculated the difference in their monthly payment and term and they immediately got excited. They said they would need to shop around and talk about it and they would call me back.
About two weeks later, they called and said they found the same boat, just a few years older, for a much more reasonable price. They were so excited that I suggested this to them and with their patience they were able to get a great boat and feel way more comfortable with their payment. It was so rewarding to hear that I was able to help these members. They were so thankful that I took the time to listen to them and make a suggestion that would better their financial well being, rather than just signing off on a huge, potentially risky loan.”
– Carley Lowe, Member Relationship Officer
Common Factors Affecting Retirement Income
By David Lange
When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision.
Different types of investments carry with them different risks. Sound retirement income planning involves understanding these risks and how they can influence your available income in retirement. Investment or market risk is the risk that fluctuations in the securities market may result in the reduction and/or depletion of the value of your retirement savings. If you need to withdraw from your investments to supplement your retirement income, two important factors in determining how long your investments will last are the amount of the withdrawals you take and the growth and/or earnings your investments experience.
Inflation is the risk that the purchasing power of a dollar will decline over time, due to the rising cost of goods and services. If inflation runs at its historical long term average of about 3%, the purchasing power of a given sum of money will be cut in half in 23 years. If it jumps to 4%, the purchasing power is cut in half in 18 years.
A simple example illustrates the impact of inflation on retirement income. Assuming a consistent annual inflation rate of 3%, and excluding taxes and investment returns in general, if $50,000 satisfies your retirement income needs this year, you’ll need $51,500 of income next year to meet the same income needs. In 10 years, you’ll need about $67,195 to equal the purchasing power of $50,000 this year.
Say Hello to the Sprint Credit Union Discount
- 10% off* select personal Sprint plans
- 15% off* select business Sprint plans
- Waived activation fee on new activations
- Waived upgrade fee
- Available to new and existing Sprint customers
- Call 877.SAVE.4CU (877.728.3428) and let them know you’re a credit union member. Ask to be a part of the NACUC_ZZM Corporate ID to save
- Click LoveMyCreditUnion.org/Sprint
- Visit your nearest Sprint store
*Application of discount requires 2-year contract extension on existing plans. Verification of membership is required at time of activation/upgrade. Discount not available on secondary lines for Family and Business Share plans.
All rights reserved. Sprint, the logo, and other trademarks are the trademarks of Sprint Nextel.
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