What’s at Stake?

Are you ready to read a political posting on a financial education blog?  If so, then you are in for a treat today.  Even if you are not, then I at least urge you to keep reading.  There will be a financial advocacy twist from this post…I promise.

If you have not kept up with Credit Union vs. Bank politics, then you’re certainly missing out.  Actually, I would not expect many consumers out there to give a “hoot” one way or another.  However, this time in the world of banking politics, the stakes are pretty high. 

In short, credit unions want the opportunity to lend out more money to businesses within their communities.  While banks do not want credit unions to have this opportunity to lend out more money.  This clash of rights or opportunity has risen to a level of frenzy in Washington D.C..  I imagine 99% of you out there have never even heard about this battle in Washington.  Heck, there are too many other priorities to catch your political attention.  How many robo-calls have you received over the past month?  It is all enough to make your head spin and just give up.  

Now I know there are more pressing issues in which your vote matters.  Funny thing is…credit unions don’t even need you to vote a certain way.  All we want for folks to do is contact their U.S. Senators (John Cornyn & Kay Bailey Hutchinson) and tell them to put aside politics and do what is right for their communities.

You see…if they support a current Bill (S.2231) that is coming up for a vote soon then that would save you money.  How???  Glad you asked…

This legislation would free up $12 billion in capital that could be lent to small businesses across the United States.  Such an infusion of cash into the market would result in the creation of 140,000 jobs.  Texas stands to get a lot of those jobs…since we are pretty big and all.

However, it is Washington politics about everything now days.  If you don’t vote on mine, then I won’t vote yes on yours.  Negotiation – gotta love it- right?  It is just how things are done in Washington – I have been told time and time again by many folks up there. 

This is a piece of legislation that creates jobs and is good for the economy.  We must get Americans working again…our community is depending on them to make the right choice.  Here is my final no-brainer to consider: How much taxpayer money has been used in the last year to “create” 140,000 new jobs?  By our U.S. Senators lending their support to S. 2231 the American Tax Payer will not be out a dime…it’s free.  Yes, that in turn saves you money…told you I had a financial slant on this post.

Again – nothing in Washington D.C. is a no-brainer.  At least that is what I have been told by many of our Congressional leaders and their support staff.

Please Contact our Senators in Texas and tell them to support S. 2231.  It’s as easy as that…

Senator John Cornyn at (202)-224-2934

Senator Kay Bailey Hutchison at (202)-224-5922

 

- Phillip

Reminder of Seminar – Tomorrow Evening

Anyone who is thinking about – or wants to:

• Get Out of Debt
• Reduce the Amount of Stress in Your Life
• Address Financial Concerns
• Take Control of Your Finances
• Have more to save, more to spend, or less to worry about.
• Achieve Financial Maturity
• Challenge the Way You Think About Money Management

 Come on Out – Tomorrow Evening

Topic:            Debt Reduction – Ways That Really Work

 Date:              Thursday – May 17, 2012

 Time:              6:30PM – 7:30PM

 Location:      302 W. Centerville Rd – Garland, TX 75041

 

Hope to see you there!!!

Where’s the Savings?

Take a look at this Time Moneyland Article on the effects of more government regulation on financial institutions.  There were some changes to our overall banking system a little while back.  Specifically, the system that let’s consumers pay for goods and service by swiping their credit and debit cards at the point-of-sale.  Our government said that consumers needed this because it would save them money.  However, have you seen any savings at the grocery store, gas pump, home improvement store, or any other kind of merchant over the past year?  Probably not…

This article is a great reminder of what has happened and poses the question – “Where’s the savings?”

I think it’s worth the read…of course I am biased on the topic. Ha!!!

 

- Phillip 

Got Debt?

Came across an article that I wanted to share. 

The author if this article points out, “A very interesting longer trend revealed by the Fed’s graph is that since 2010, debt as a percentage of GDP, has fallen sharply for households and financial businesses, remained flat for non-financial businesses and State and Local governments, and risen sharply at the Federal government level.”  

Now I am no expert and I believe this to be true…however, I do know that there are plenty of folks out there still in debt.  If you would like to learn how to “Get Out of Debt”, then consider investing an hour of you time in coming to a seminar.  If any of these statements apply to your financial life, then come on out to this Free Seminar.

Anyone who is thinking about – or wants to:

• Get Out of Debt
• Reduce the Amount of Stress in Your Life
• Address Financial Concerns
• Take Control of Your Finances
• Have more to save, more to spend, or less to worry about.
• Achieve Financial Maturity
• Challenge the Way You Think About Money Management

 Topic:            Debt Reduction – Ways That Really Work

 Date:              Thursday – May 17, 2012

 Time:              6:30PM – 7:30PM

 Location:      302 W. Centerville Rd – Garland, TX 75041

 

Hope to see you there!!!

 

- Phillip

Texas Made a Top 5 List

Can you guess which State has the most reported incidents of identity theft?  

Here you go…better yet…here is a top five list:

1. Florida
2. Georgia
3. California
4. Arizona
5. Texas

Not a good list to be on – right?

For more information on what’s new in the World of Identity Theft…come out to our next Financial Education Seminar.

Saturday, April 21, 2012

1:30pm – 2:30pm

Irving Branch Location

2315 W Airport Freeway
Irving, TX 75062

Stay Safe Out There!!!

- Phillip