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VyStar Credit Union launches interactive financial fitness initiative

VyStar Credit Union launches interactive financial fitness initiative

Boost Your Financial Know-How with our Quiz Challenge and a Chance to Win!

JACKSONVILLE, FL (February 7, 2024) — At a time when many individuals and families are in need of educational financial resources, VyStar Credit Union announces the launch of VyStar Financial Fitness. VyStar Financial Fitness encompasses free financial education resources covering savings, budgeting, investing, credit and more. Coupled with these resources is the opportunity for personal financial coaching to develop a tailored plan for building a strong financial future. At the heart of the initiative is a commitment to creating an easily accessible pathway to strong financial health.

“VyStar is passionate about breaking down barriers to financial education,” said VyStar Chief Marketing Officer Dana Karzan. “We have provided financial guidance to our members for over 70 years, and now with the launch of Financial Fitness, we’re solidifying our commitment to comprehensive member support — both personal and digital — to provide innovative solutions in a way that best fits their needs.”

The journey to financial wellness begins at vystarcu.org/financialfitness, where individuals can take the VyStar Financial Fitness Quiz. The quiz asks about spending and saving habits, borrowing behaviors and long-term financial planning. In just minutes, participants receive a financial health score and gain immediate insight into their financial well-being across crucial categories. Participants are then guided to a selection of practical tools and resources designed to address their specific needs, from effective budgeting and smart savings strategies to understanding and improving credit scores.

By simply completing the Financial Fitness Quiz, participants are automatically entered to win $4,500*, a substantial boost for savings or investment goals. “We’re adding an exciting incentive to begin the journey toward stronger financial health and a better future,” Karzan said. “In today’s environment, it’s

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Manage your money for college wisely with BYU’s innovative funding tool

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SALT LAKE CITY — Getting loans to pay for college can be complicated and confusing, but BYU’s financial fitness manager is out to help the process not be so confusing, and to save students as much money as possible.

Paul Conrad developed the College Funding Tool, a calculator that considers a student’s expenses — from gas to living to school — and helps the student see what size loan they should draw out without going overboard. Conrad said students sometimes draw out too big of a loan, resulting in larger payments after graduation that they could have avoided with a little more information from the start.

“We’re basically trying to help students really understand what their expenses are, and look at what their resources are. Do you even need to borrow money, and if you do, how much can you really afford to borrow? Make sure that any amount you’re borrowing will be manageable when you pay those back,” Conrad said.

Conrad’s job in the Financial Fitness Center at BYU is to help students make good financial decisions and be wise with their money. He said BYU students generally do a great job at it, but the tool is an extra help.

Working at the Financial Fitness Center is what prompted Conrad to develop the tool, which began with him and his colleagues filling out various worksheets and escalated into the online tool with everything in one place.

Entrepreneur and BYU student Levi Wilson, who works for the startup company that hosts the College Funding Tool, said the tool gives students confidence. “It helps students who are debt adverse or are scared about taking on debt, even though they can afford it and it might be the best decision for their circumstance. … It helps

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