Quarterly Newsletter 

2010 Board of Directors

 

Officers and Executive Committee

 

Chair

Tanya Wheeless

(Arizona Bankers Association)

 

1st Vice Chair

Marie Sullivan

(AZ Women's Education & Employment, Inc.)

 

2nd Vice Chair

Adrianne Rexius

(Tempe Schools Credit Union)

 

Treasurer

Kathy Pechman

(National Bank of Arizona)

 

Secretary

William Edward Anderson

(The Vision Catalyst Group)

 

Executive Committee Member at Large

Andrew Ellis

(Pak & Morning PLC)

 

Executive Committee Member at Large

Kenja Hassan

(Arizona State University)

 

 

Directors

 

Terry Benelli

(Neighborhood Economic Development Corp.)

 

Dave Castillo

(Native Home Capital)

 

Emma Garcia

(Desert Schools Federal Credit Union)

 

Peggy Hutchison

(Primavera)

 

Rebecca Kennel

(Custom Financial Design)

 

Kate Krietor

(City of Phoenix)

 

Kellie Manthe

(Bank of America)

 

Carolyn Mitchell

(Wells Fargo)

  

Gino Turrubiartes

(Town of Guadalupe)

 

Kent Walker

(Arizona Public Services Company)

 

Erik Walters

(Comerica Bank)

 

Lyndsey Wellens

(State Farm Insurance Companies)

 

 

The Foreclosure Prevention Task Force is a non-profit organization dedicated to reducing the
number of foreclosures in Arizona and limiting the effects of foreclosure on families and communities. The organization's
Foreclosure Information Workbook is now available in english and spanish.

 

English

 

Spanish

 

Website

 

Just because you've been reported to ChexSystems, it doesn't mean that you will be denied a bank account from your local financial institution. Having a bank account and being in the "financial mainstream" is critical to your future financial success. It allows you to direct deposit your paychecks, save automatically, and receive your tax refund within 7-14 days! The other choice is to continue to pay high processing fees at check cashing sites. Read this article and learn how to open a bank account regardless if you have been reported to ChexSystems or have bad credit. Read.

Arizona Saves thanks you for your loyal support! The January 2010 edition of our electronic newsletter features highlights from our 2009 Annual Report, tax season tips,  and generous donations from Desert Schools Federal Credit Union and Arizona Credit Union League, Inc. Please enjoy!

 

Click here to see a short video celebrating our outstanding volunteers and partners for 2009!

 

 

Learning how to handle money is the first step to financial security. Make 2010 a time of prosperity by dedicating time to learn and improve your skills in saving, debt reduction, improving credit and investing to build assets.

 

Many people make New Year's resolutions like vowing to lose weight or quit smoking. In 2010 - make a financial resolution to increase your financial knowledge. Resolve to learn more about personal finances and get them in order. 

 

There are many experts that offer advice about handling money. While they have differing opinions, learning from different sources can help financial novices become educated. Financial Resource List 

 

Getting your financial house in order is a great resolution for the New Year. So, study and research to get new knowledge, then convert this to action and discipline to manage your money better in 2010. Start reading books, trade magazines, listen to expert advice, and attend Financial Education workshops. In addition to Arizona Saves workshops, check out Consumer Credit Counseling and Take Charge America for workshops in your area. This year can be YOUR BEST YEAR YET for financial prosperity and security!

 

Start with these top 5 tips for success with your financial New Year's resolutions:

 

 

(1) Set real, measurable goals.

(2) Make a plan to reach your goals

(3) Track your spending for the next 30 days

(4) Make a personal budget based on the results of your tracking sheet

(5) Make a plan to pay off your debts

 

Arizona Saves' website has budget and tracking tools -

Budget Worksheet / Spending Tracker 

 

Will you SAVE or SPEND in 2010?

 

Have Your 2009 Taxes Done for FREE  

Volunteer Income Tax Assistance (VITA) volunteers help individuals and families file their taxes for free. Check out the brochure to find a VITA site near you. English. Spanish.

 

You May Qualify for the Earned Income Tax Credit 

The Earned Income Tax Credit (EITC) is a fully refundable federal income tax credit for low- to moderate-income individuals and families. It's the largest government program designed to combat poverty in America. Families with children who earned less than $48,279 in 2009 may be elligible. Those without children who earned less than $18,440 may also be elligible. The EITC pays up to $5,657 dollars! Click the link to see if you qualify. English. Spanish.

 

Expecting a large return? Use it to build assets (start a matched savings program, pay off your debt, start saving for an asset goal, etc.) Jennifer Quillin, Assistant Director at Arizona Saves, suggests 10 smart ways to spend your tax refund. Read.

 

A RAL is a high-interest short-term cash advance secured by an anticipated tax refund. The product provides quicker access to funds than waiting for a tax return, but at a very high cost. The Consumer Federation of America reports that tax preparation companies charge interest rates between 50 and 500 percent for a RAL, while most taxpayers can get their refund in as little as 7-14 days with direct deposit.

 

The immediate need for funds and the enticement of a cash payout may cause RALs to appear attractive, but they should be avoided. In addition to the high-interest rate, RALs are dangerous because any delay or discrepancy in a tax return doesn't affect the amount of money or the time in which the loan needs to be repaid. Failure to repay on time will cause the lender to take action by transferring the debt to a collector and damaging the consumer's credit rating.

 

In addition to the office space, DSFCU also donated $5,000 to Arizona Saves in October of 2009. The funds will be used to assist Arizona Saves in providing free workshops on banking, budgeting, credit & credit repair, first-time home-buying, and Crisis Budgeting.

 

 

 

Arizona Saves staff applied for and received a free one-year subscription to Animoto's online video software program. Check out the new promotional video we produced. (Click the image to view).