Quick Checkup On Your Finances

Close-up Of Doctor's Hand Examining Pink Piggybank With Stethoscope - Check up on your finances

 

Credit Reports – Jordan Credit Union members can obtain their reports through our mobile app, on-line banking portal or at the official, AnnualCreditReport.com. Each of the three main credit reporting agencies (Equifax, Experian, and TransUnion) is required by federal law to provide you with a free copy of your credit report each year. JCU Members will receive their included report based on Experian data updated on a quarterly basis when available.

Once you have your report, check for errors and report any you find immediately. If necessary, begin to take steps to improve your credit score.

Debt – If your debt is rising, especially high-interest credit card debt, it might be time to adjust your spending so that those balances start to decline again. Consider refinancing loans or switching to another credit card with a lower rate.

Retirement Savings – You’ll also want to evaluate your contributions to your company 401(k) plan. Make sure you are contributing at least enough to get any employer match. If you’ve already maxed out your contributions, consider opening up a traditional or Roth IRA. This could also be a good time to rebalance your portfolio as needed. In general, the closer you are to retirement, the less risk you should be taking with your money. Many 401(k) plans offer target-date funds that automatically adjust your risk exposure over time.

Bank Accounts – Now is a good time to revisit your JCU accounts. Do you have correct access to your accounts? Do you need to change beneficiaries? Do you have recurring bills you no longer need.

We are here to help. Check in with your friendly member services representative and let’s get it taken care of.