- Managing a Budget During your Retirement, Unless you have accumulated substantial wealth where money is not a concern, you face a critical task when you reach retirement to make sure that your assets will support you through your lifetime. When you retire and no longer earn an income to pay for your bills and living expenses, developing and adhering to a financial plan – where cash flow is clearly defined – can help you balance your…, Step one: careful planning, As you reach retirement, try to obtain a clear picture of your financial situation and projected income and expenses. Start by creating a detailed net worth statement, which provides a comprehensive overview of your assets, debt, and cash-on-hand. Next, assemble an accurate budget that itemizes your income and expenses. If you anticipate any major lifestyle changes after retirement – for instance…, Step two: ongoing monitoring, Creating a detailed budget is not a one-and-done proposition. Revisit your planning tool regularly and readjust the figures if your actual income and expenses change. By monitoring your income and expenses on a regular basis, you can best address any shortcomings and proactively look to reduce expenses to avoid any ongoing cash flow issues., Step three: the fine print, As you monitor your finances, there are several items that could impact your cash flow in profound ways: Interest rates: these fluctuate and could reduce the income from your savings and investments. If rates drop, you may need to find living expenses that you can decrease to offset the impact. Tax rates: federal, state, and local tax rates change over time. So, too, do tax regulations. Make sure…, Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer., (Member FINRA/ SIPC). Insurance products offered through LPL Financial or its licensed affiliates. Visions Federal Credit Union (VFCU) and Visions Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using the name Visions Investment Services, and may also be employees of VFCU. These products and services…
- After three years of being engaged, we finally decided to walk down the aisle. To be fair, I never wanted to plan a traditional wedding and take on all the expenses that come with it. I always wanted a little less – while my husband-to-be wanted a little more. Over the years, we discussed our options and struggled to land on a wedding style that suited both of us. At one point, during the Covid-…, So, how did we make ours happen for only $12K?, I started my research online and quickly leaned into the idea of a tropical getaway. I thought, "If we're going to get married, why not make it an adventure!" Not to mention, winters are awfully cold in central New York. It's easy to find thousands of ideas and deals online these days, so we searched for affordable options that had consistent reviews. Ultimately, I found a company that offers…, How we paid for it, Don't overlook this enormous consideration when planning your wedding. After everything is said and done, you need to pay for it all somehow ! At the time, Visions was offering a 0% intro rate promo for new cardholders, so our Elite Visa Signature Card helped us charge these expenses without worrying about interest or stressful debt. Then, in terms of paying it off, our savings covered most…
- How to Make the Most of College Internships, As a college student, I've taken advantage of numerous internships at my university and local businesses. They can be a great way to familiarize yourself with a company, industry, job responsibilities, and can even grow your network. All of which can help you build a solid career and reach your financial goals. The problem is, finding an internship can be tough, but making the most of it can be…, if you want to make the most of it, here's how., Check the feasibility of the internship., The reality of internships is that most are unpaid, and "compensation" comes in the form of college credit. Bills and other everyday expenses don't disappear just because an opportunity arises for you to intern. Consider the consequences of not being able to work as many hours at your paid job if you commit to an unpaid internship – or that you may not have time for a paid job at all! There was…, Have a plan., Knowing what you want to gain from the internship experience is the first step. What questions do you have for people that hold titles you are interested in? How can you use this experience to bulk up a portfolio or a resume? Maybe you're interested in learning the best and worst parts about a job or an industry, or scouting a company's culture and benefits . You might not be thinking about…, Take advantage of the information around you., You're new, so there won't be mountains of work to keep you busy. Rarely, if ever, will a department have a pile of projects that need to be done right away by the intern. Instead, look to take advantage of the professionals around you who are possibly in the career you desire. Even if you come into an internship and they have tasks waiting for you, the honest and personal conversations you'll…, Build your network. , This is a phrase you'll hear everywhere, but it's hard to know exactly what "building your network" looks like. Networking means going to those office lunches, even if you weren't scheduled on that day, or trying to implant yourself in as many meetings as possible. Infiltrating your name into everything will make many people familiar with your presence. But that isn't enough. By asking questions…, Have reasonable expectations. , I quickly learned that you're not guaranteed anything special just by interning somewhere. You could be a great intern, but sometimes job openings don't align for you when you're ready to enter the workforce – or they simply aren't looking to hire. I wouldn't view this as a failure. By now, you'll have a network of people who can speak to your fantastic work while you were there. Instead of…
- When Ty Muse became the CEO of Visions FCU in 2013, he brought new ideas and a new leadership style to the Empire State cooperative., Top-Level Takeaways, Ty Muse has been CEO of Visions FCU for nearly six years. Now that he's in charge, he's had to learn some new skills and develop other existing ones. When Visions Federal Credit Union initially invited Ty Muse to interview for the cooperative's CEO position, Muse, who was satisfied with his role as CFO at a nearby credit union, declined. "I was a finance guy," Muse says. "I was living near where…, The Buck Stops Here, CU QUICK FACTS Visions FCU DATA AS OF 12.31.18, HQ:, Endwell, NY, ASSETS:, $4.2B, MEMBERS:, 199,208, BRANCHES:, 48, 12-MO SHARE GROWTH:, 1.8%, 12-MO LOAN GROWTH:, 8.5%, ROA:, 0.52% Becoming CEO provides a new perspective from which to view the inner workings of an organization. "How many times have you said, "If I was running this place, I'd do "this,'" Muse says. "When you're the boss, the buck stops with you." It's true; as the CEO, Muse no longer works for someone. There's no barrier between his work and the membership. He's in charge, and this fact of life has…, Organizational Change And Tips For A New CEO, When Muse took over as CEO at Visions, he took stock of the credit union and considered what worked well and where there were opportunities to grow. A CEO-Approved Reading List What books should new CEOs have on their bookshelf? Ty Muse, CEO of Visions, makes his picks: " The One Thing" by Gary Keller : "A lot of times you try to change too much at once, but if you can just focus on one thing,…, 5 Tips For New CEOs, Ty Muse became CEO of Visions Credit Union in 2013. Here, he offers five tips for new CEOs., Have a clear plan for what you want to accomplish, but be flexible enough to adapt:, "When you meet with your leadership team and staff, you'll start to realize what you got right and what you got wrong.", Before you remove staff, understand there might be a root cause:, "When I started at Visions, I thought they didn't make decisions. But I realized there was so much talent here that wasn't provided the opportunity to make decisions. They're filled with great ideas, but they don't know how to communicate them.", Don't forget to look at the map:, "When you are moving, you often don't realize you've slightly veered off course from your principals and values. You have to make sure you're still going True North.", Understand it all starts with people:, "Don't forget your greatest product is people. At the end of the day, another financial institution can offer the same set of products. Your differentiator is the people you bring to members. Keep them happy and engaged.", Listen to Jack:, "Working at GE, many of my leadership philosophies are tied to Jack Welch's [former CEO of GE]. He says a leader should be three things: A Chief Meaning Officer, who makes sure everyone knows why they are doing something; A Chief Groomer, who makes it as easy as possible for his/her team to get things done; and a Chief Fun Officer, who helps people feel good about what they are doing." Reference…
- Endicott, NY – Visions Federal Credit Union offers congratulations and best wishes to our 2019 Visions Salutes scholarship winners! Five lucky students were the recipients of $1,000 each to continue their studies. The Visions Salutes scholarship is part of Visions' Veterans Program, available exclusively to the children and dependents of veteran members. Students need not be members themselves,…, About Visions, Visions Federal Credit Union is a nonprofit financial institution completely owned by its members. Established in 1966, Visions proudly serves over 200,000 members in communities throughout New Jersey, New York, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans. Reference: Visions FCU Press Release
