Why Try a Savings Challenge?

Sometimes the hardest part about saving is simply getting started. A savings challenge gives you a clear goal, a timeline, and a sense of accountability. Challenges encourage you to take small, consistent steps that add up over time. They also build positive habits that can carry over into other areas of your financial life.

Ideas to Get Started

There’s no one-size-fits-all approach when it comes to saving, so pick a challenge that fits your lifestyle:

• Daily or Weekly Set-Aside: Save $5 a day or $20 a week. Small amounts add up faster than you think.
• No-Spend Challenge: Choose a weekend or week where you skip non-essential spending and put the savings directly into your account.
• 52-Week Challenge: Save $1 the first week, $2 the second week, and continue adding one more dollar each week. By the end of the year, you’ll have $1,378 saved.
• Round-Up Challenge: Round each purchase to the nearest dollar and save the difference.

Tips for Success

• Keep your challenge realistic so you can stick with it.
• Automate your savings when possible by setting up a recurring transfer to your savings account.
• Track your progress in a notebook, app, or with a chart to stay motivated.
• Celebrate your milestones along the way—acknowledge your wins, no matter how small.

The Credit Union Advantage

With LA Healthcare FCU, your savings can work even harder for you. We offer savings accounts designed to help you grow your money safely while you focus on your financial goals. By combining the structure of a savings challenge with the benefits of your credit union membership, you’ll be on your way to building stronger financial security.

Ready to Begin?

Pick your challenge, commit to it, and take that first step today. Remember, every dollar saved is a step toward greater stability and peace of mind.

Open or grow your savings with us today:

What is a Youth Account?

A Youth Account is a starter savings solution set up in a minor’s name, with a custodian acting as a joint account holder. Typically, a parent or guardian manages the money until the child reaches the appropriate age—often eighteen, though this varies by financial institution. Adults assist as account overseers, ensuring safe spending habits by setting withdrawal limits and guiding smart saving strategies.

Why Open a Youth Account?

Beyond building a balance, a Youth Account provides powerful perks. Here are three key benefits:

1. Fosters Financial Fluency
   Formal education doesn’t always feature financial fundamentals, leaving families responsible for shaping smart money habits. A Youth Account introduces essential lessons like budgeting, balancing, and banking basics—helping kids craft a confident financial future while potentially passing on their newfound knowledge to friends and family.
   
   For parents seeking an engaging, educational experience, consider Banzai, a premier online program promoting practical personal finance.
2. Cultivates Conscious Choices
   Watching their wealth wisely grow in a savings account helps children connect choices to consequences. The more they save, the sooner they can secure their financial goals—whether that’s a bike, a backpack, or a big-ticket college fund. Setting and achieving savings targets instills self discipline, satisfaction, and smart spending habits, creating a rock-solid financial foundation for the future.
3. Prepares for Practical Independence
   A Youth Account offers a preview of personal responsibility in a protected setting. Kids can deposit dollars, withdraw wisely, and work within limits—all while parents provide guidance, guardrails, and gentle correction. This low-risk learning opportunity allows children to experience financial freedom without facing real-world repercussions, making it a meaningful money management milestone.
   

Final Thoughts
A Youth Account is more than just a place to park pennies—it’s a powerful platform for learning, leading, and launching lifelong financial success. Open one today and set the stage for smart saving, savvy spending, and solid financial security!

Reflect and Reassess

Start by taking stock of where you stand financially. Review your progress from last year—what worked well, and where did you face challenges? A candid assessment of your financial habits will provide valuable insights and help you create a more effective plan for the future.

Envision Your Financial Future

What do you want your finances to look like by the end of 2025? Whether it’s buying a car, traveling more, or boosting your retirement savings, having a clear vision will motivate you and guide your decisions. Write down your goals to make them tangible and real.

Focus on What Matters Most

With so many financial aspirations, it’s easy to feel overwhelmed. Prioritize the goals that will have the biggest impact on your financial health. For example, paying off high-interest debt or starting an emergency fund can set a strong foundation for everything else.

Break It Down Into Manageable Steps

Big goals can feel daunting, so break them into smaller, actionable steps. Instead of aiming to “save $10,000,” start with a smaller target, like “save $850 each month.” Incremental progress not only feels more achievable but also keeps you motivated along the way.

Use the Benefits of Membership

At LA Healthcare Federal Credit Union, we’re here to help you succeed. From savings accounts with competitive rates to personalized financial advice, we offer services designed to help you achieve your goals. Plus, our online tools and mobile banking make managing your money easier than ever.

Create a Spending Plan That Works for You

Budgeting doesn’t have to feel restrictive. Think of it as a way to direct your money toward the things that matter most. Identify areas where you can adjust your spending—perhaps fewer streaming subscriptions or smarter grocery shopping—and redirect those savings toward your goals.

Prepare for the Unexpected

Life is unpredictable, which is why having a financial cushion is essential. Aim to build an emergency fund that covers three to six months of expenses. This safeguard can protect you from setbacks and give you peace of mind.

Explore Growth Opportunities

If you’re already on solid footing, consider ways to grow your wealth. Contributing to a retirement fund, starting an investment portfolio, or taking advantage of employer benefits can help you maximize your financial potential over time. At LAHFCU, our team is ready to help you explore these opportunities and make informed decisions.

Keep Your Goals in Sight

Regular check-ins are key to staying on track. Set aside time each month to review your progress, make adjustments as needed, and celebrate your wins—no matter how small. Consistency is the key to turning your financial aspirations into achievements.

Seek Support When Needed

You don’t have to navigate your financial journey alone. As a member of LA Healthcare FCU, you have access to financial advisors, educational resources, and a dedicated team ready to support you. Whether it’s setting up a savings plan or discussing investment options, we’re here to help.

As we embrace 2025, remember that financial success isn’t about perfection—it’s about progress. By taking thoughtful, intentional steps and leveraging the resources of LAHFCU, you can make this year one of growth, stability, and opportunity. Here’s to a year of financial empowerment with LA Healthcare FCU by your side!

Your credit card statement is more than just a summary of your spending. It provides essential information that can help you manage your finances, detect potential fraud, and avoid hidden fees. Here are some compelling reasons why you should make a habit of reviewing your monthly credit card statements:

Understand Your Spending Habits

Do you know exactly how much you’re spending each month? While many cardholders believe they can recall each purchase, it’s surprisingly easy to overlook charges, especially when making purchases is as simple as a tap or swipe. Your monthly statement provides a clear breakdown of your spending, allowing you to see where your money is going. Reviewing this can help you avoid overspending and making costly mistakes.

Protect Yourself from Identity Theft

Even if you’re careful with your credit card and personal information, identity theft remains a risk. According to recent studies, the FTC’s IdentityTheft.gov website receives more than 1 million reports of identity theft annually. Thieves have become more sophisticated, often stealing small amounts over time to avoid detection. By carefully reviewing your credit card statement each month, you can catch suspicious activity early and take action to protect your account.

Eliminate Unwanted or Unnecessary Transactions

It’s easy to forget about subscriptions and services you’ve signed up for, especially if they incur small monthly charges. Your credit card statement can reveal recurring charges for streaming services, app upgrades, or memberships that you no longer use. Regularly reviewing your statement allows you to identify and cancel these unnecessary expenses, saving you money in the long run.

Catch Billing Errors

Mistakes can still happen, even in 2024. You might be double-billed for a service, or a technical glitch could result in incorrect charges. By staying on top of your credit card statements, you can spot these errors and arrange for refunds before it’s too late.

In summary, your monthly credit card statement is a powerful tool that can help you manage your finances, protect your identity, and save money. The next time you receive your statement, take a few minutes to review it carefully. It’s a small effort that can pay off in a big way.

Involve Them in Family Financial Decisions

Involving your child in family financial decisions can provide valuable learning experiences. Discuss budgeting for vacations, planning large purchases, or managing household expenses. This hands-on approach helps them understand the complexities of financial planning and the importance of making informed decisions.

Use Technology to Your Advantage

Leverage technology to make financial education engaging. Many apps and online tools are designed to teach children about budgeting, saving, and investing. Choose age-appropriate tools and supervise their use to ensure they’re learning effectively. Discuss the concepts they encounter to reinforce their understanding.

Teach Them About Financial Tools

As your child approaches their teenage years, introduce them to various financial tools. Explain how credit cards work, the significance of credit scores, and the basics of investing. Help them open and manage a checking account, use online banking, and understand financial statements. These experiences will prepare them for managing their own finances in adulthood.

Encourage Financial Independence

Gradually give your child more control over their finances as they mature. Encourage them to manage their savings account, make financial decisions, and handle budgeting for personal expenses. This fosters a sense of responsibility and prepares them for financial independence.

Make Financial Learning Fun

Keep the process of learning about money enjoyable. Use games, challenges, and rewards to make financial education interactive. There are many educational games and resources available that can teach financial concepts in a fun and engaging way.

By following these steps and integrating financial education into your child’s daily life, you are setting them up for a successful and financially secure future. At LA Healthcare FCU, we are here to support you with resources and guidance on financial literacy. For more tips and tools to aid in teaching your child about money, visit our website or reach out to us.

Empower your child with financial knowledge today for a brighter tomorrow!

Start with the Basics: Introduce Key Concepts Early

Begin teaching your child about money with simple concepts. Young children can learn the difference between wants and needs through everyday conversations. For example, when deciding between buying groceries or a new toy, explain why you choose one over the other. Visual tools like piggy banks or jars labeled “Save,” “Spend,” and “Share” can make these concepts more tangible.

Encourage Saving with a Purpose

As your child understands the basics, introduce the idea of saving for specific goals. This could be saving for a new toy, a special event, or even a family outing. Setting a clear goal makes the concept of saving more meaningful. If your child is old enough, consider opening a savings account for them. Explain how savings can grow with interest and the importance of setting aside money for future needs.

Create a Budget Together

Budgeting is a crucial skill that can start at a young age. Help your child create a simple budget using their allowance or money earned from chores. Show them how to divide their money into categories such as spending, saving, and sharing. This practice helps them understand how to manage their finances and prioritize their spending effectively.

Teach the Value of Earning

Earning money is an important lesson in financial responsibility. Encourage your child to take on small jobs or chores to earn money. This not only teaches them the value of work but also helps them appreciate that money is earned through effort. Create a system for tracking their earnings and demonstrate how their hard work translates into financial rewards.

Identity theft can be a devastating experience, but knowing the right steps to take can help you mitigate the damage and regain control. If you suspect that you’ve been a victim of identity theft, it’s crucial to act quickly and methodically. Here’s a comprehensive guide to help you navigate this challenging situation:

1. Stay Calm and Gather Information
   Take a deep breath and gather all relevant information. This includes any suspicious emails, messages, or documents you received. Note down the date, time, and details of the suspicious activity. The more information you have, the easier it will be to resolve the issue.
2. Contact LAH FCU Immediately
   Our fraud team is here to assist you. Call us at (213) 748-4788. We can help freeze your accounts, monitor transactions, and guide you through the next steps.
3. Place a Fraud Alert on Your Credit Reports
   Contact one of the three major credit bureaus—Equifax, Experian, or TransUnion—to place a fraud alert on your credit report. This alert makes it harder for identity thieves to open accounts in your name. You only need to contact one bureau; they will notify the others.
   Equifax: 1-888-766-0008
   Experian: 1-888-397-3742
   TransUnion: 1-800-680-7289
4. Obtain Your Credit Reports
   Request a free copy of your credit report from each of the three credit bureaus at government-mandated AnnualCreditReport.com. Review your reports carefully for any unauthorized accounts or activities. Dispute any inaccuracies with the respective credit bureau.
5. Report the Identity Theft to the Federal Trade Commission (FTC)
   Visit IdentityTheft.gov, the FTC’s dedicated site for identity theft recovery. Follow the steps to create a recovery plan, which includes filing a report and obtaining an Identity Theft Report. This report is essential for disputing fraudulent charges and accounts.
6. File a Police Report
   Take your FTC Identity Theft Report and any evidence you have to your local police department. Filing a police report can help with resolving disputes and may be necessary for certain claims with creditors and credit bureaus.
7. Contact Creditors and Financial Institutions
   Notify all creditors and financial institutions where fraudulent accounts or transactions occurred. Use the FTC Identity Theft Report to support your claims. Request that they close any fraudulent accounts and remove any unauthorized charges.
8. Change Your Passwords and Secure Your Accounts
   Update your online banking passwords and security questions. Use strong, unique passwords for all your accounts and consider enabling two-factor authentication for added security. Be cautious of any phishing attempts or suspicious emails.
9. Monitor Your Accounts and Credit Reports
   Keep a close eye on your accounts and credit reports for any further suspicious activity. Set up alerts for transactions and credit changes. Regular monitoring can help you detect and address new issues promptly.
10. Seek Support and Stay Informed
    Identity theft can be overwhelming, so don’t hesitate to seek support. Consider enrolling in identity theft protection services and stay informed about new scams and prevention strategies.
    At LA Healthcare FCU, we are committed to helping you protect your financial well-being. If you have any questions or need assistance, our dedicated fraud team is here for you. Don’t hesitate to reach out at (213) 748-4788 or visit our website for more information.
    Stay vigilant, stay informed, and take action to protect your identity and financial future. We’re here to support you every step of the way

Assess What You Can Afford

As a prospective homeowner, it’s crucial to look beyond the listing price. Unexpected costs accompany home buying, including insurance and closing costs. The latter can amount to three percent of your home’s price. Keep these expenses in mind as you navigate the process.

The Thrill of House Hunting

Whether you’re browsing online listings or driving through neighborhoods scouting “for sale” signs, house hunting is exhilarating. However, avoid making decisions solely based on emotions. Trust your instincts and take notes during house inspections. If you find yourself getting overly idealistic, consider bringing a friend or relative along for a fresh perspective.

Get Acquainted with the Neighborhood Vibe

Before committing, spend time in the neighborhood. Take a test drive during typical commute hours to gauge traffic patterns. Is the vibe peaceful or bustling? Consider nearby schools—noise and traffic levels can vary before and after school hours.

Explore Mortgage Loan Options

At LAHFCU, we’ve partnered with CU Lending (NMLS# 737327) to offer our members fixed and adjustable rate mortgage loans. Our streamlined application process is available online, and our loans come with:

• Low closing costs
• No points or prepayment penalties
• Competitive interest rates compared to big banks

Let’s make your dream of homeownership a reality! Visit our website to apply today. 

The Growing Threat of Tax Scams and Fraud

Tax season serves as a prime opportunity for scammers to exploit individuals, seeking sensitive information for financial gain. Common tactics include phishing emails, fraudulent phone calls, and deceptive websites designed to trick taxpayers into providing personal details or making unauthorized payments. It’s essential to stay informed and adopt preventive measures to avoid falling victim to these schemes.

LA Healthcare FCU understands the importance of safeguarding your financial interests. That’s why our Value and Premium Checking accounts come equipped with cutting-edge ID theft protection features designed to offer you peace of mind during tax season and beyond.

Key Features of LA Healthcare FCU’s Value and Premium Checking Accounts:

Identity Restoration & Payment Card Resolution:

In the unfortunate event of identity theft, our accounts provide comprehensive assistance in restoring your identity and resolving issues related to compromised payment cards.

Personal Identity Theft Benefit:

Gain access to a personal identity theft benefit that offers support and resources to help you navigate the challenges associated with identity theft.

Credit Monitoring & Credit Report:

Stay informed about changes to your credit profile with credit monitoring services and receive regular credit reports to detect any suspicious activities.

Credit Score & ScoreTracker:

Monitor your credit score effortlessly and track changes over time with ScoreTracker, allowing you to stay in control of your financial health.

Score Simulator:

Plan and make informed financial decisions with the Score Simulator, which helps you understand how specific actions may impact your credit score.

Identity Monitoring:

Continuous identity monitoring adds an extra layer of protection, alerting you to potential threats and suspicious activities related to your personal information.

As you gear up for tax season, prioritize your financial security by choosing LA Healthcare FCU’s Value or Premium Checking account. Our commitment to providing robust ID theft protection ensures that you can navigate the complexities of tax season with confidence. Don’t let scams and fraud jeopardize your financial well-being – choose LA Healthcare FCU for a safer and more secure banking experience.

Stay Calm and Act Quickly:

The moment you realize your card has been stolen or your personal information compromised, it’s natural to feel a sense of panic. However, staying calm and acting quickly is essential. Report the incident to your credit union immediately, providing details of the unauthorized activity.

Contact LA Healthcare Federal Credit Union:

Reach out to the LAHFCU as soon as possible. Inform them about the situation and ask to freeze or close your account temporarily to prevent further unauthorized transactions. The credit union’s customer service team is equipped to guide you through the process and offer assistance.

File a Police Report:

In cases of identity theft, it’s important to file a police report. This official document will be crucial when dealing with creditors and authorities. Be prepared to provide as much information as possible about the incident and any suspicious activity.

Contact the Three Major Credit Bureaus:

Notify the three major credit bureaus – Equifax, Experian, and TransUnion – about the identity theft. Request a fraud alert on your credit reports to prevent the thief from opening new accounts in your name. This step adds an extra layer of protection and ensures that any new credit applications are thoroughly verified.

Monitor Your Accounts:

Regularly monitor your bank and credit card statements for any unusual transactions. Set up alerts for any activity on your accounts, and report any discrepancies immediately. Quick action can help minimize potential financial losses.

Change Passwords and PINs:

Change passwords and PINs associated with your compromised accounts. Choose strong, unique passwords for each account, and consider using two-factor authentication where available. This will add an extra layer of security to your online accounts.

Be Wary of Phishing Attempts:

In the aftermath of identity theft, be cautious of phishing attempts. Fraudsters may try to gather more information or exploit the situation. Verify the legitimacy of any communications related to your account or personal information.

Educate Yourself:

Take the opportunity to educate yourself about identity theft prevention measures. LAHFCU may offer resources and tips to help you safeguard your personal information in the future.