Seeking to help members do a better job of financial planning, State Employees' Credit Union (SECU) has added a Financial Assessment Tool to its website at www.ncsecu.org.
The assessment link is located under the Financial Advisory Services heading within the secure Member Access section. According to SECU, the tool allows members to evaluate their general financial condition (net worth and cash flow), the adequacy of life insurance protection and whether they have sufficient emergency funds on-hand. Members can also determine if they are on track to meet their goals for retirement and/or education planning, as well as create a spending plan, SECU said.
After entering the requested data, the member can generate and print an assessment report.
"Based on their input, this report offers recommended solutions if a plan of action is needed," the credit union said. "When the solution is not a 'do-it-yourself' one, the report suggests members seek help at their local SECU branch. Members are encouraged to print out the assessment and bring it to their branch to discuss how they can meet their financial goals."
SECU SVP Joan McCool added, "Our overall aim is to encourage members to set goals and begin or increase savings for those goals. We want to help our 'not-yet-wealthy' members create wealth by spending less and saving more. These tools are just the beginning of SECU's plan to provide more financial planning options for its members."
