January 2019 Newsletter – The New Direction

In this month’s issue of the First Choice Federal Credit Union newsletter, we take a stroll into the past. We not only look at 2018, but the last 30 years (and further). We also will be looking into the future.

And, we’ll ask one question that we’d love to answer…

How can we help you?

From The Desk Of The CEO – A Different Kind Of Christmas

The year was 1981. A little boy awoke from his bed on Christmas morning. He ran his footie pajama clad self down the hallway to the living room where his parents were and looked at all the colorful packages under the tree. He couldn’t believe his eyes. Is it possible that all of this was for him? Had Santa really heard his every wish? Was this everything from the dog-eared JC Penny’s catalog? Had he been that good of a boy? The rest of the day was spent with family and friends, food and cookies. It was the best Christmas ever.

Now it was 1991. With money in his pocket, earned from his first part time job, that same child walked into the mall. He was able to buy his own gifts and give them to his family. They weren’t much, but they were heartfelt and it gave him a real sense of accomplishment. He couldn’t wait for his Mom to see what he had picked out for her. He was so excited about the “deal” he got for his cousin. It was the second best Christmas ever.

Christmas is a lot different now. We have been jaded by the commercialism of it. We are upset at the rising costs of everything. Amazon is now the mall. eBay is now the flea market. Our homes are never clean enough. That is a lot of people to invite and lets face it, the cousins…weird. Some chairs at the family table are empty. The stories aren’t as good. Instead of joy, there is a sense of depression and dread. All this work, for what?

Sound Familiar?

What if I told you it was still 1981? What if instead of the boy in the story, you were the father or the mother? Do you think they felt the same as today? Were they stressed over money, or baking, or weird cousins?

What if it was still 1991 and you received that gift from the child that bought it with their own money? Do you wish you got a gift card instead? Did you worry about if it was just right, or did you get a little choked up at the thought that “they shouldn’t have”?

My role has changed in my family. I am no longer the kid. I am no longer the teen. I am the stressed, rushing around, too busy, some assembly required, “do we have enough batteries”, “remind me who got divorced again”, “what are the your cousin’s kid’s names”, “yes, I will go to the store and get you the ‘good’ kind of extract”, pickup the kids where, “I lost another bid”, kind of adult!

Times have changed, and so have we. It doesn’t feel the same, but it is not supposed to. Things are different, they have evolved.

Remember, they don’t force us to use Amazon, we willingly signed up. We want globalization, price competition, convenience, and greater selection. We have driven the market to change to suit our needs.

What we miss is the personal touch. We miss the little things. We miss the ideals, values, and the sense of belonging we felt when we were children. And if we could get all of that with the modern day conveniences… we wouldn’t turn it down.

May I introduce you to First Choice Federal Credit Union?

We have kept the same ideals, values, and sense of belonging since our inception…but we have added modern conveniences.

We are privileged.. no, honored… no, outright humbled by the growth we have experienced these past years. We have increased our loans year-over-year by offering the opportunity for our members to finance their dreams and aspirations at a low interest rate. We can’t thank you enough for that chance to earn your business. But, have you brought over your banking relationship? Do we have your checking account or Direct Deposit? Will you trust us with more? If you do, we promise the same level of service that you have come to know; evolve to add more products and services; but keep the same principles that have guided us to today.

From all of our family to yours, we wish you nothing but the best that 2019 has to offer.

“I just want world peace…”

It’s that time of year again. Time to make a New Year’s Resolution. On average American’s will make 3 resolutions per person. SPOILER ALERT: Less than 10% will be fulfilled. According to the Franklin Covey Foundation 33% won’t even make it through January.

The most popular resolution is, “I want to get in shape.” And there in lies the problem. Resolutions fail for many reasons, but here are the most common reasons why:

  • It isn’t your resolution, it is based upon what you feel society is telling you to change. Therefore, there is no personal ownership of the goal.
  • It is too vague. “I want to do better”, may be full of aspiration, but it lacks detail. Better in what, by how much, by when, etc.
  • The goal isn’t possible, hence you will get discouraged when results aren’t in line with unrealistic expectations
  • You have no plan

How about something S.M.A.R.T.?

In 1981 a Management Review article introduced a popular managerial acronym. In order to achieve a goal, you must make it S.M.A.R.T.

Specific  I want to lose weight…too vague. I want to lose 5 pounds in the next 2 months – specific.

Measurable  With weight loss it is a little easier to set measurable goals, but what if your goal is to be a “nicer person”. Select behaviors and quantify them. I want to be nicer by making sure that I stop by Jan’s office everyday and say good morning and ask how her night was.

Achievable  You are allowed to set “stretch goals”, but trying to take too big of steps, too fast can leave you frustrated. If you want to save more money… don’t set your goal at $1,000,000 in the next 5 years. Instead start with saving $100 / $200 / $400 more a month.

Relevant  Maybe the goal shouldn’t be “I want to be nicer”. Maybe it should be, I want to make more connections in my life. I want people to understand and accept me for who I am. I want to take the time out of my life to enjoy the company of colleagues. Think about the true relevance to your actions.

Time-bound  Set the goal and give it a meaningful time-frame. Again, if you want to lose 10 lbs. Looking at the scale every day can make you deflated, but setting a goal of 1 lbs. a month can lead to better results.

What’s the big take-away here?

At the heart of making resolutions is the desire to change things for the better. Embrace that desire and commit to giving yourself the best opportunity for success.

While we have limited personal experience on getting bodies in shape, we have significant experience in getting finances in shape and setting a financial plan for the future.

2018 – A Year In Review

  • LeBron is a Laker
  • The Winter Olympics were held in South Korea
  • An actress became a Princess (or Duchess or something)
  • Ice was discovered on Mars
  • Jack Pearson died as a result of complications of smoke inhalation from a house fire (This Is Us)
  • Drake is the top selling musical artist
  • Black Panther was the highest grossing movie
  • Kim Kardashian is still famous (for unknown reasons)
  • Apple became the first company to cross $1 trillion in global value
  • Blake Shelton is no longer the Sexiest Man of the year (order is restored)
  • We lost a former President
  • The Eagles, The Capitals, The Red Sox, The Warriors were Champions

Lets get to the important stuff. How was your year? What did you accomplish? As we take a moment to reflect on 2018, let us rejoice in the wins and learn from the heartaches. May 2019 be our year to move forward and conquer new horizons.

Your credit union wants to help.

No matter what stage in life you find yourself, we are here for you. First time home buyer, let us pair you with our partner, Owners Choice Funding. Want a new kitchen? Need a new car? How about a new toy to help unwind? Lets get out of debt or start saving for the future.

No matter your needs, we have the products and services to help.

Visit First Choice Federal Credit Union today!

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