Thankful for 2023 and Planning for 2024

plan for 2024 - wood blocks signaling the change from 2023 to 2024

To plan for 2024, we need to reflect on 2023.  It’s hard to believe we are already in Q4 of 2023, and as we enter the holiday season, we kick it off with a spooky Halloween holiday.  But planning for 2024 does not have to be spooky!

2023 Look Back

First, let us be thankful for recovery!  Though it may have been slow and painful, many of us have continued the recovery process from the 2020 pandemic.  In the summer of 2023, many people took trips and vacations put on hold since 2020.  In 2023, the rate of travel exceeded 2019 levels that occurred before COVID-19 closed down international travel.It is predicted that travel in 2024 will continue to grow but at a normalized rate.

Along with increased travel, post-pandemic splurge spending occurred.  But that is expected to slow down in 2024.  Thanks to the US economy’s resilience, Goldman Sachs has lowered the odds of a US recession from a high of 35% to 15%.What does this mean for the average consumer?

With a favorable economic outlook and the holiday season quickly approaching, it may be easy to become too carefree with credit card spending.  The planning tips below will prepare you for what the holidays and 2024 may have in store.

2024 Look to the Future

As the economic climate normalizes, you must still prepare for peaks and valleys in the economy due to forces outside our control, such as significant weather events, world developments,  or simply unexpected circumstances.  Having the strategies and vehicles in place is important to manage life’s ups and downs.  They include:

  1. Paying Off or Consolidating Debt
  2. Building an Emergency Fund
  3. Creating Short and Long-Term Financial Goals

At Welcome Federal Credit Union, we are pleased to provide our members with the resources and tools to move forward in 2024, consolidating debt and growing retirement savings, emergency accounts, and investments for the future.  Some of these resources and tools include:

  1. Free Financial Health Check with a WFCU Financial Counselor
  2. Share Certificates
  3. Savings Accounts
  4. Checking Accounts

At WFCU, we are thankful for you, our members.  Let us help you bring in the new year with the necessary resources to achieve your financial goals.  You’re always welcome at WFCU!  Contact us today at (888) 932-8148.

 

1 https://www.forbes.com/sites/willskipworth/2023/08/16/us-travel-abroad-has-finally-reached-pre-pandemic-levels-heres-where-americans-are-going/?sh=4048ad57668a

2https://www.cnn.com/2023/09/07/economy/revenge-travel-decline-spending-splurge/index.html

https://investor.vanguard.com/investor-resources-education/article/jump-start-your-financial-planning-for-2024

Please be advised that the Henderson branch will be closed on Tuesday, July 16, and Wednesday, July 17 and be open from 7:30 - noon on Thursday, July 18, and Friday, July 19.

 Exciting news: your enhanced e-statement will be delivered soon!  

Please be advised of our holiday hours for Independence Day: all WFCU branches will be closed on Thursday, July 4. 

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed on Monday, September 2 in observance of Labor Day.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed on Monday, October 14 in observance of Columbus Day. 

Now is the time to get the best returns on your cash with higher interest rates on your Certificate and Money Market accounts!

Welcome Federal Credit Union will be closed on Monday, November 11 in observance of Veterans Day.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

Welcome Federal Credit Union will be closed for the Thanksgiving Holiday on November 28 & 29, 2024.

Now is the time to get the best returns on your cash with higher interest rates on your Certificate & Money Market accounts!   

As we close out 2024 and think forward to 2025, WFCU would like to wish all of our members and their families a wonderful holiday season and a prosperous New Year! Please be advised of our holiday schedule.

Attention Members: Please be advised the Henderson Branch will be closing at 12:30 today, Friday, May 31st.

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