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February 2014Vol 5, Issue 2
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TOGETHER
We can make a difference
Message From MCUCD

 

Coming together is the beginning; Keeping together is progress; Working together is success.   - Henry Ford

 

It's a time of year when the strength of teamwork and collaboration is most apparent for our MCUCD team. With a good three weeks of tax season under our belt, there have been many times in our office when it's an 'all hands on deck' effort. It's this collaboration internally and with our credit union sites, partners, and volunteers that make the VITA program so amazing. 

 

As you will read below there are many exciting things happening and we're starting to see a real synergy among all of our programs. There's certainly never a dull moment around here, and we like it that way.

Thanks to all of you for your continued support of our MCUCD programs -- together we are making a difference!

Karen

In This Issue
Making a Difference
Military Saves Week
Tips from a Financial Counselor
February Consumer Topic
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Making a Difference 
VITA for Veterans
On Saturday, March 1, veterans will receive free tax help at the Billings Public Library, one of District 7 HRDC's Volunteer Income Tax Assistance (VITA) sites.

Last year, more than 2,000 Billings area families and individuals were able to access free tax assistance. This year, they hope to help even more low to moderate income individuals and families in their area. Part of this outreach is offering free tax prep to veterans. For some this service will include free transportation to and from the library.

When asked why HRDC sets aside a day for this free service, they answered, "We admire the dedication and service of our country's veterans. The Billings Community VITA program wants to take the opportunity to serve them this tax season."

The sponsors of VITA for Vets include United Way of Yellowstone County, HRDC Community Action Agency, Montana State University- Billings, Montana Credit Unions for Community Development, and Billings Public Library.

HRDC is part of the Montana VITA Partnership, a statewide coalition of VITA providers working together to standardize practices and attract funding for VITA sites located in Montana communities. As a coalition we strive for quality tax preparation, and we believe it is important to offer this free service to veterans that have already done so much for the rest of us.

 

For more information on free tax help in the Billings area, visit the MontanaFreeFile.org today.
Military Saves Week
Free Financial Workshop and Free Taxes
The last week of February, Military Saves Week offers organizations an opportunity to promote good savings behavior and folks in the military a chance to assess their own saving status.

Liz Foster, financial counselor with the Montana National Guard, is organizing Military Saves Week events at Fort Harrison. Throughout the week workshops will be held covering the basics of financial management.

Free 45-minute sessions are scheduled to begin 12:10 p.m. on Monday and run through Thursday at the Helena Armed Forces Reserve Center Auditorium. They are open to the public.

"As a whole we need to learn better tools and techniques for managing personal finances, because I don't think most people are taught," Foster said.

In conjunction with Military Saves Week, Helena area credit unions and staff from MCUCD will host a Retirement Fair for active military and veterans in the Helena area. This event will start at 12:00 p.m. on Friday, February 28 in the auditorium at Fort Harrison.

The Retirement Fair is designed to be an experiential learning event, where the series of questions guide the participants to ponder their retirement needs. The fair benefits people of all ages, not just those nearing retirement and encouraging people to consider and plan for all aspects of their retirement.

Military Saves Week wraps up with Volunteer Income Tax Assistance (VITA) for Veterans at the Fort Harrison Branch of Elkhorn FCU.

"Elkhorn FCU is excited to provide a stress free way for veterans to file their taxes, it's one more way we can give back for their service and all that they have done for our country," said Saraya M Jorge, loan and collection office. "We hope to bring awareness to our veterans of not only the free tax service provided through VITA, but other ways the credit union can help financially."
Tips from a Financial Counselor

Liz Foster Empowers Montana's Citizen Soldiers

As a member of the Montana Joint Family Support Assistance Program (JFSAP) team, Liz Foster works within the Montana National Guard Family Programs to provide counseling, coaching, and education to military members and families. She offers these words of advice.

 

Meet People Where They Are. I don't mean physically, but mentally, emotionally, even spiritually in regards to how they're managing their money. I try to find out what's going on. What's good about it? What could be better? What is that important? What are their short-, mid- and long-term financial goals? Do they even have any financial goals? It's just about having an open, honest, non-judgmental conversation.

 

Try not to tell clients what to do; instead help them find the solutions and tools that work best for them. Are they a detail person or a big picture person? Do they like using technology or do they prefer pencil and paper? Is having cash on hand too tempting or is swiping the card too easy?  I can get a fairly good sense of their spending, savings, and tracking habits (or lack of). This gives me the opportunity to chat with my clients about different techniques and tools that might be a good fit.

 

Give your clients homework! Let them do the leg work on researching personal finance websites, tools, and techniques. I provide resources and ideas on where to look for information, but I make sure my clients have a specific item to be researched or task to complete before our next session. I feel strongly that not only are my clients more educated, but they have more buy-in to the process and are motivated to continue with learning how to better manage their finances.

Topic of the Month
Growing Your Savings CRC Graphic
Almost half of Americans are living paycheck to paycheck and one unplanned expense away from financial chaos. America Saves Week takes place this month as a coordinated effort of organizations across the country that believe that savings is the most important first step towards financial security.

Visit our Consumer Resource page to access resources for the current topic "Growing Your Savings," including a newsletter article, poster, featured resource, and resource guide. Use them to educate your members, clients, and community on consumer topics that encourage savings.