www.sscu.net/save
A guide to financial
management for members of
Seven Seventeen Credit Union.
TABLE OF CONTENTS
Welcome to Simplify & Save ............................................................ Page 1
Seven Seventeen Helps You Save ................................................... Page 2
Credit Knowledge & Tracking Your Money .................................... Page 4
Budgeting........................................................................................ Page 5
Budget Worksheet .......................................................................... Page 6
BALANCE, A Financial Fitness Program......................................... Page 8
BalanceTrack Personal Finance Education Center.......................... Page 9
Financial Planning............................................................................ Page 10
Simplify with Electronic Services..................................................... Page 11
Helpful Financial Resources............................................................. Page 12
Notes.............................................................................................. Page 13
Simplify & Save
Welcome to Simplify & Save...
Welcome to Simplify & Save.
It gives me great pleasure to introduce the Simplify & Save Program. The heart of Simplify & Save is
to simplify your finances and to save you money. When it comes to finances, simplifying and
saving can mean something different to all of us. This is why we developed a program to provide
you with valuable tools, tips, and resources to help with your unique financial circumstance.
Simplify & Save is not a program for which you need to register or pay a fee. It is an extension of
our desire to help members achieve their financial goals and objectives.
In this booklet, you can learn about the many ways that Seven Seventeen can help you directly,
such as refinancing loans from other financial institutions at a lower rate, consolidating debt, or just
making sure you have the right products and services that fit your needs. You’ll also learn about
our valuable, no-cost partner programs, such as BALANCE, SimpliFi, and FinanceWorks. Plus,
we’ve provided contact information for various local agencies that provide specific advice and
help. From balancing a checkbook to financial planning to using home equity, we encourage you to
start with Simplify & Save.
Because we can’t fit all of the free information available to you in the pages of this booklet, I
encourage you to visit our special Simplify & Save website at www.sscu.net/save that has a larger
collection of resources to help you navigate the financial opportunities and challenges you may
face. And, as always, Seven Seventeen financial representatives are available in branch or by phone
to help you find financial solutions and achieve your goals.
Today, we are working harder than ever to help our members save money, simplify their financial
lives, and plan for a long, healthy financial future.
Best wishes for your financial health,
Gary Soukenik
Gary Soukenik,
President and CEO
Seven Seventeen Credit Union
Brought to you by Seven Seventeen Credit Union
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Seven Seventeen Helps you Save!
Refinancing your loan can save you money…
A great way to save your money is by refinancing when possible. If you’ve financed a (new or pre-owned) car, truck,
RV, boat, or motorcycle with another lender, we may be able to save you money by reducing the amount of interest
you are charged over the life of your loan.
Example Only
(information herein is for
demonstrative purposes only)
Current Balance of Loan
Annual Percentage Rate (APR)
Monthly Payment Amount
Total Number of Payments
Total Interest Paid
Amount You Save
Auto Loan at another
Financial Institution
Refinancing to a Seven
Seventeen Auto Loan
$10,000
$10,000
6.99%4.99%*
$198.03
$188.71
60 months
60 months
$1,881.57
$1,322.49
$0
$559.08
SIMPLE SAVINGS TIP: Zero percent interest rates sound great when buying a new car, but make sure you know all the
details before you buy. Often times, the zero percent interest rates being offered are for shorter-term loans and reserved for
people with a very high credit score. If choosing between zero percent and a cash rebate, you may save more with the rebate
and a low rate from Seven Seventeen.
Improve Your Credit Score and Save Money…
Paying down your debt and doing so on-time every month are major contributors to improving your credit score.
Seven Seventeen may be able to save you money by reducing the amount of interest you are charged over the life
of your loan.
Example Only
(information herein is for
demonstrative purposes only)
Current Balance
Annual Percentage Rate (APR)
Minimum Monthly Payment
Total Interest Paid
Total Cost to You
Time to Pay Off Your Balance (assuming you pay only the minimum each month)
Amount You Save
Credit Card at
another lender
Seven Seventeen
VISA® Platinum
Credit Card
$3,000
$3,000
10.49%*
15.99%
3% of balance ($10 minimum)3% of balance ($10 minimum)
$2,042.43
$1,077.02
$5,042.43
$4,077.02
13 years, 11 months
11 years, 1 month
$0
$965.41
SIMPLE SAVINGS TIP: Unlike what you may find with other financial institutions, there is no annual fee and no fee to
transfer balances to a Seven Seventeen VISA® Platinum credit card.
*Example above contains information and rates that are for demonstrative purposes only. Your rate will be based on factors such as, but not limited
to, individual credit worthiness, loan term, available equity, applicable fees, and any eligible discounts. Contact us for full details.
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Simplify & Save
Seven Seventeen Helps you Save!
Have you taken advantage of the equity in your home?
If the circumstances are right, you can take advantage of the equity in your home with a Seven Seventeen home equity
loan or home equity line of credit loan. You can use the cash for anything – debt consolidation, your child’s education,
a new car, home improvements, or whatever your needs. Please contact us to learn about your equity loan options.
Example Only
Home Equity Line of Credit
Loan at another
Financial Institution
Refinancing to a
Seven Seventeen
Home Equity Line
of Credit Loan
Current Balance of Loan
Annual Percentage Rate (APR)
Monthly Payment Amount
Total Interest You Will Pay
Total Cost of Your Loan
$10,000
6.99%
1.5% of balance
$2,701.30
$12,701.30
$10,000
3.74%*
1.5% of balance
$1,229.61
$11,229.61
Time to Pay Off Your Loan 7 years, 1 month
6 years, 3 months
$0
$1,471.69
(information herein is for
demonstrative purposes only)
(assuming you pay only the minimum
payment each month)
Amount You Save
SIMPLE SAVINGS TIP: If you are considering a home equity loan or a home equity line of credit , but are unfamiliar
with the differences, ask a qualified representative about the right loan option for you. For example, both a home equity
loan or home equity line of credit can be used for any purpose, but a home equity line of credit can provide a longer draw
period to access your credit line, while a home equity loan comes in a lump sum.
Simplify & Save with Automatic Payments and Direct Deposit
The best way to not miss a loan payment is to set up Automatic Payments. Missing or late loan payments can impact
your credit score. In addition, you save time and money by no longer writing checks or buying stamps. Plus, on specific
Seven Seventeen loans, you can even receive a discount on your loan rate just by setting up automatic payments. Ask
us for details.
Direct Deposit enables you to have your entire income check deposited automatically into the Seven Seventeen account(s)
of your choice. Some of the benefits of setting up direct deposit are...
• You get your money faster.
• More secure, (no paper check to be misplaced or stolen).
• No waiting in line to deposit your check.
To sign up for direct deposit, ask your payroll department if your employer offers direct deposit or contact the
government agency that sends you a regularly recurring payment for details on how you can get this great service.
*Example above contains information and rates that are for demonstrative purposes only. Your rate will be based on factors such as, but not limited to,
individual credit worthiness, loan term, available equity, applicable fees, and any eligible discounts. Contact us for full details.
Brought to you by Seven Seventeen Credit Union
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Credit Knowledge & Tracking Your Money
Credit Knowledge: Your Credit Report and Your Credit Score
Regularly checking your credit report enables you to keep track of your debts as well as check for errors and identity
theft. Under federal law, you are entitled to a free copy of your credit report from each of the three credit bureaus, Equifax,
Experian, and TransUnion, once every 12 months. To obtain your free reports, contact the Annual Credit Report Request
Service (www.annualcreditreport.com, or call 877–322–8228). You can get all three at once or stagger your requests
throughout the year.
If you are in the market for a loan, your credit score is important, as lenders will look to it to assess their risk in lending
you money. If your credit score isn’t where you want it to be, the good news is that you can take steps to improve it, such as:
• Obtain copies of your credit report from all three major credit reporting agencies to check for and correct errors.
• Pay down your debt. If you can’t pay the total balance each month, pay more than the minimum required payment.
• Pay on time, every time.
• Avoid aggressively transferring balances to new cards.
• Keep your credit card balances well under the maximum available limit.
• Only apply for and have the credit you need.
• Repay collection accounts, judgments, and liens. Copyright © 2010 BALANCE
Know Where Your Money Goes: Track Your Spending!
If cash seems to disappear from your wallet, now’s the time to find out where it’s going! Becoming keenly aware of cash
flow will help you reduce budgetary waste – and leave more money in your pocket for truly important goals and expenses.
There are several good methods you can use to track spending:
• Carry a small notebook and record the details of each purchase you make. At the end of the day, total what
you’ve spent. You’ll soon have a good idea of where those $40 ATM withdrawals really go.
• Keep receipts from each of your purchases and tally them up daily. It won’t be absolutely precise if you shop
at places that don’t give a receipt (such as a soda machine), but it will be close enough to be revealing.
• Use a debit card for all or most of your shopping because every purchase and cash withdrawal will be noted on
your statement or within online banking. Review your account regularly.
• Use expense-tracking software. After monitoring your spending for at least a few weeks, enter the information
into a long-term expense tracking system. A few months of doing so and you’ll have an accurate picture of
where your cash is going.
Only after you know today’s spending habits can you make realistic financial decisions to better your future.
Copyright © 2007 BALANCE
As a benefit of membership in Seven Seventeen, you have access to personal financial counseling at no charge through our partner program
called BALANCE. To learn more about the services available through the BALANCE Financial Fitness program, see pages 8 and 9 of this
booklet, call BALANCE at 888–456–2227 or click the BALANCE logo at www.sscu.net/save for more information.
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Simplify & Save
Budgeting: A Great Saving Tool
Make a Budget that Works for Your Family
About the Budget Worksheets on Pages 6 and 7
One of the most important tools for your financial health is having a plan. A recent Money Magazine study showed that
individuals with a written plan are 250% more likely to reach their financial goals. The following two pages will guide you
through creating a household budget and establishing monthly goals.
Before you start your budget, we encourage you to make a blank copy of the worksheets on pages six and seven for future
use (you can also download a blank copy from the Simplify & Save website at www.sscu.net/save) and browse the budget
worksheets on the following pages to see what types of information you’ll need.
Your budget plan is for you and your family; take your time and be detailed – this is your real-life plan. Comparing your
figures for income versus expenses on paper is great for really seeing if you are living within your means. Setting goals based
on your numbers is important too. Remember to establish realistic monthly goals you can live with.
Once you have established your budget and your goals, remember to review and update your budget on a regular basis
(remember the blank copy you made earlier). Has something changed? Are you still living within your means? Are you meeting
your goals or do they need changed? Where can you improve? A good plan is only useful if you stick to it.
Online Budget Tool Available with OnTrack
From our partners at BALANCE, OnTrack is a self-guided, web-based tool developed to assist members through the sometimes
challenging steps of creating a budget that is realistic, livable, and accurate. The online tool will guide you step-by-step through
the process of determining your living expenses relative to your income and debt. Throughout the OnTrack module, as you
create your budget, you will find tools for tracking your expenses, tips for taking control of your personal finances, helpful
direction on reducing your debt, and education specific to any areas of special challenge.
The information you enter online is completely anonymous. You can set up a user name and password (hold on to it!)
to enter and exit the system as you wish. Our partners at BALANCE do not have access to the information you provide
unless granted by you. There is a step where you can request follow-up from a BALANCE counselor, but it is an option,
not a requirement.
To access the OnTrack online budgeting tool, please visit the Simplify & Save website at www.sscu.net/save and click the
OnTrack logo.
Need help with your budget plan? As a FREE benefit of membership with Seven Seventeen, you have access to the
BALANCE Financial Fitness Program. Their counselors can help you set up your budget and review it with you. For more
information, call BALANCE toll-free at 888–456–2227, or visit www.sscu.net/save and click on the BALANCE logo.
Brought to you by Seven Seventeen Credit Union
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Simplify & Save
Brought to you by Seven Seventeen Credit Union
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Seven Seventeen is partners with BALANCE, a financial fitness program that makes it easy for you to get on top and
stay on top of your financial situation. This partnership will give you, our member, FREE unbiased money management
information and financial counseling. All you have to do is make a toll-free phone call to 888–456–2227. A certified
financial counselor can answer many of your questions immediately – from how long an item stays on your credit report
to whether it’s better to lease or buy a car. For more complex issues, such as debt elimination or budget development,
an appointment will be scheduled – giving you the personal attention you need to meet your objectives.
Below are examples of types of financial counseling and education services you can receive from BALANCE:
1. Money Management Counseling. A certified financial counselor will help you take a closer look at your
spending and savings plan, and to develop both short- and long-term financial strategies.
2. Debt Management Plan. If the bills are starting to pile up, BALANCE can review your options, and
even provide a structured repayment plan.
3. Credit Report Review. A BALANCE counselor will review your report with you, making sure you know
your rights and tell you how to improve your credit. They can even help take your credit from good to great.
4. Housing Counseling. Buying a home is one of the biggest financial commitments you’ll ever make. A
BALANCE counselor can help you make a plan.
5. Identity Theft Solutions. BALANCE can explain preventive measures that can substantially reduce the
chance of identity theft occurring. They can also provide steps to help you recover if you are a victim.
No problems? BALANCE can still evaluate your financial picture to see if certain improvements are needed to
help avoid financial pitfalls that may not be apparent to you — consequently helping you stay on track!
It’s easy to take advantage of this benefit, simply call the Toll-FREE Info-line below. Certified counselors are available
to answer your questions about money management and other personal finance topics. Call as frequently as you like
— there is never a fee.
To speak with a BALANCE counselor,
call toll free: 888–456–2227 or email them at: [email protected]
Monday–Thursday: 8 am – 11 pm • Friday: 8 am – 8 pm • Saturday: 11 am – 8 pm
To access BALANCE online, visit www.sscu.net/save and click the BALANCE logo.
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Simplify & Save
BalanceTrack Personal Finance Education
BalanceTrack, an online personal finance education center is available within the BALANCE program. It allows you to explore
all of the essential elements of personal finance. Each of the learning modules is interactive with links to helpful resources.
Examples of the types of modules are listed below.
• Money Management — learn to save money and still meet your other financial goals.
• Rebuilding After a Financial Crisis — learn steps to take after a financial crisis.
• High Cost Financial Services — learn the types of financial services to avoid.
• 10 Steps to Financial Success — learn how to control your money instead of it controlling you.
• The World of Credit Reports — learn to understand credit reports and tips to improve your
credit, and even take it from good to great.
• Checking Account Management — learn key components of wise checking account
management.
• Credit Matters — learn tips to use credit wisely to reach goals and prevent potential credit
pitfalls.
• The Road to Home Ownership — achieve the American Dream by learning the process
leading to home ownership.
• The Basics of Investing — get tips on how to build your wealth through smart investments.
• Drive Away Happy — make educated decisions about your vehicle and available financing
options.
• Financial Planning — from reducing tax liabilities to preparing your financial estate, learn tips
for long-term planning.
• Finances for College Students — learn how to get your teen started on financial success.
• Identity Theft — learn tips to avoid identity theft, and solutions if you’ve already been victimized.
Access BalanceTrack at www.sscu.net/save
Brought to you by Seven Seventeen Credit Union
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Financial Planning
Retirement • Insurance • Investments • Wealth Management
Seven Seventeen Investment & Trust Services* is a total financial counseling service designed to address your current financial
concerns as well as your long-range financial objectives. Seven Seventeen Investment & Trust Services representatives can help
with tax planning, estate planning, protection analysis, education planning, retirement planning and investment planning &
analysis.
To learn more about Seven Seventeen Investment & Trust Services or to schedule a consultation with a representative:
• Click their logo found on Simplify & Save website at www.sscu.net/save.
• Call 330–372–8100, 330–726–0344, 330–677–0001, 330–492–1106 or 800–775–7741, ext. 8102 or 8054.
*Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI) member FINRA/SIPC, a
registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll free (866) 512–6109. Trust services available through MEMBERS Trust
Company. Non-deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of
or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to
members. CBSI is a registered broker/dealer in all fifty states of the United States of America. (FR061110-A742)
SimpliFi Personal Online Financial Planning
A FREE online financial tool from Seven Seventeen
Take the first step on the road to long-term financial success by developing a personalized
financial plan. SimpliFi is an online financial planning module that guides you through the
development of your financial plan, helps you set goals, and provides ongoing tracking of where
you are in relation to reaching your financial objectives.
A recent Money Magazine study showed that individuals with a written plan are 250% more likely
to reach their financial goals. Sophie, your virtual financial advisor will guide you through the simple
process.
A unique feature with SimpliFi is your GPA or Goal Point Average. Just like school, your GPA can
range from A+ to F, and the better your grade, the more likely it is that you will achieve your
goals. Find out your grade today.
Sophie
To get started, go to the Simplify & Save website at www.sscu.net/save and click on the SimpliFi link. You can save your data
to update and track your goals over time. Remember, there is no cost to you as a member of Seven Seventeen Credit Union.
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Simplify & Save
Simplify with Electronic Services
A powerful online tool to manage your spending to help you save more.
FinanceWorksTM is a FREE online financial tool contained within Seven Seventeen’s NetWorth24* Online Banking product.
FinanceWorks allows you to manage all your financial accounts in one place with a single log-in through NetWorth24, so you can
more easily budget and gain control over your spending to save more.
• Connect to over 12,000 financial institutions and creditors...
Checking, savings, loans and credit cards... you can see them all here with just one log-in.
• Know where you are spending your money...
FinanceWorks automatically categorizes your transactions from your accounts so you can control spending
more easily, stay on budget, and save more.
• Ensure bills are paid on time...
With FinanceWorks, you can manage bills all in one place, regardless of how you pay them, and schedule
email reminders to avoid missed payments and late fees.
• Manage your cash flow...
Projected cash flow tells you how much you have available to spend (or save) until your next paycheck.
To get started, go to the Simplify & Save website at www.sscu.net/save and click on the NetWorth24 link to learn more or sign
up for our online banking product. To access FinanceWorks, you must be a registered user of our FREE online banking product,
NetWorth24*. Sign up today!
*Bill Pay is FREE if three or more bills are paid each month. In the event that less than three bills are paid during a month, a fee may be charged for that month. Ask for details.
Simplify with these services from your credit union!
• FREE Unlimited ATM transactions at ANY Seven Seventeen-owned ATM
• FREE eStatements
• FREE eLerts (important email and text alerts)
• FREE Telephone Banking with CALL24
• FREE* NetWorth24 Online Banking
• FREE* Online Bill Pay
• FREE* Mobile Banking
Learn more today! Visit us, call us, or see more online at www.sscu.net/save.
*Bill Pay is FREE if three or more bills are paid each month. In the event that less than three bills are paid during a month, a fee may be charged for that month. Mobile
banking requires NetWorth24 Online Banking. Ask for details.
You can Simplify & Save – let us do a free account review.
We invite you to speak to a Personal Service Representative at any of our branch locations. Our professional staff can review your
individual needs and make sure we are providing you the right products and services, as well as look for opportunities to help you
save money and simplify your financial life. Let our family help you and your family.
Brought to you by Seven Seventeen Credit Union
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Helpful Resources
Unfortunately, the economy has left many in our community facing challenging times. Fortunately, there are many organizations
in our area prepared to help. Following is a list of agencies that may be able to provide assistance to you or anyone you know who
is facing difficulties during these trying times. This is only a partial list, there are many wonderful organizations providing help.
Neighborhood Development Services...
can provide financial assistance.
330–297–6400, ext. 248
Jobs & Family Services...
provides assistance through a variety of programs such as
Ohio Works First; Disability Assistance; Food Stamps; and
Healthy Start, Healthy Families.
Trumbull County.................. 330–675–2249
Mahoning County............... 330–740–2073
Columbiana County............ 330–424–1471
Portage County.................... 330–297–3750
Stark County....................... 330–452–4661
Catholic Charities...
provides mortgage payment assistance.
330–744–3320
Consumer Credit Counseling...
provides debt and budget counseling.
800–355–2227
HOPE Homeownership Preservation Foundation...
provides counseling.
888–995–HOPE
MCAPS...
Mahoning County energy assistance.
330–747–7921
TCAPS...
Trumbull County energy assistance.
330–393–2507
Trumbull 211...
provides utility bill assistance for Trumbull County residents.
330–393–1565
United Way...
provides access to a number of health and human service
programs through their affiliated agencies.
Trumbull County...............
330–369–1000
Mahoning County. ............ 330–746–8494
Portage County................ 330–297–1424
Stark County.................... 330–491–0445
Home Affordable Modification Program...
creates a defined loan modification process through which
borrowers who are in default, at risk of imminent default, or in
foreclosure can have their loans modified to a more affordable
monthly payment targeted at 31% of their monthly gross income.
www.makinghomeaffordable.com
PHH Financial Hardship Assistance...
provides loan work outs for Seven Seventeen members whose
mortgage loan is being serviced by PHH who are experiencing
financial hardships.
800–750–2518 or www.mortgagequestions.com
Annual Credit Report Request Service...
provides a FREE credit report from TransUnion, Experian, &
Equifax once a year.
Mailing address:
P.O. Box 105283; Atlanta, GA 30348–5283.
877–322–8228 or www.annualcreditreport.com
Veterans Assistance...
provides assistance to honorably discharged veterans in
identifying potential benefits.
866–789–6333
Credit Bureaus
BALANCE Financial Fitness...
provides Seven Seventeen Credit Union members with
free financial counseling issues including debt management,
budgeting, credit counseling and more.
888–456–2227
Save the Dream Ohio...
Learn about foreclosure in Ohio and resources that can help
you avoid losing your home.
888–404–4674 or www.savethedream.ohio.gov
TransUnion Consumer Solutions
P.O. Box 2000; Chester, PA 19022–2000
800–916–8800 or www.transunion.com
Equifax Credit Information Services
P.O. Box 740241; Atlanta, GA 30374–0241
800–685–1111 or www.equifax.com
Experian
P.O. Box 2104; Allen, TX 75013
888–397–3742 or www.experian.com
Additionally, by calling your county treasurer, you may be able to work out real estate tax delinquency issues and put together payment schedules. If you are having
difficulty paying for prescriptions, many drug manufacturers have assistance programs. There are also numerous food banks and shelters throughout Northeast Ohio.
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Simplify & Save
NOTES
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You’ll find more valuable information, tips, and tools to help simplify your finances and save money by visiting the
Simplify & Save website at www.sscu.net/save.
Brought to you by Seven Seventeen Credit Union
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Austintown Office
6460 Mahoning Ave., Austintown
330–793–2495
Boardman Office
7371 California Ave., Boardman
330–726–0344
www.sscu.net/save
Canton Office
4450 Belden Village St., Canton
330–492–1106
Cortland Office
3310 Niles-Cortland Rd., Cortland
330–637–0171
Howland Office
100 Brewster Dr., Warren
330–609–5300
Hubbard Office
627 W. Liberty St., Hubbard
330–534–9002
Portage County Office
2301 State Route 59, Kent
330–677–0001
Vienna Office
585 Youngstown-Kingsville Rd., Vienna
330–539–6627
Warren Office
3181 Larchmont Ave. NE, Warren
330–372–8100
Youngstown Air Reserve Station Office
(No public access)
3976 King-Graves Rd., Vienna
330–372–8184
Elsewhere
800–775–7741
Visit our Web Site at:
www.sscu.net
Like us on Facebook at:
www.facebook.com/sevenseventeen
This credit union is federally insured by the
National Credit Union Administration.