Savings Makeover Saves CU Family $58,000

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OSWEGO, N.Y. – Oswego County FCU joined with ABC News’ Good Morning America to help a local family save more than $58,000 as part of the credit union’s Savings Makeover.

Total savings for the Gunn family was $58,288. To achieve this, a variety of areas of their finances were revamped or revised. They were able to save $4,632 over the next two years by revising their cell phone, cable and Internet plans. A copycat grocery-shopping program is slated to save them $3,900 a year.

They also were able to save $2,082 on their car insurance. A credit union loan officer worked with the Gunns to refinance their mortgage and have it paid off in 11 years instead of 19 years, which saves $33,473. Finally, they combined two car loans and existing credit card debt into one loan to be paid off in three years, meaning the Gunns will save another $13,684.

 

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