A message from Keith Sultemeier, President and Chief Executive Officer

Published December 19, 2024

As the calendar flips to a new year, it’s a perfect opportunity to reflect on your goals and set resolutions for the year ahead. Many of us will open a new gym membership or vow to tackle a project we’ve been putting off, but nearly everyone will undoubtedly have some financial to-dos. In fact, 97% of Americans have at least one financial priority in the New Year.

Let’s explore some top financial resolutions for 2025 and some strategies to help you achieve them.

Save More Money

Unsurprisingly, one of the top financial resolutions in any year is to save more money. There are a variety of ways to go about this — you could cut spending, create a budget or maybe direct deposit a portion of your paycheck to your savings account automatically so it never hits your spending account.

You can also use financial strategies, such as opening a higher-yield savings account or certificate, so your savings will grow faster over time. With Kinecta's liquid certificate, you get a higher rate without losing the flexibility to withdraw funds if you need them.

Tackle Debt

Debt payments can be a burden on your overall budget, making it even harder to save. The quicker you can pay off debt, the more you’ll save on the total interest paid. Some strategies to do this involve making extra payments or paying more toward your principal balance each month.

If that’s not an option, you might consider consolidating debts or refinancing. Many consumers overlook the opportunity to refinance their non-mortgage debt. It really pays to periodically check auto and credit card rates and take action when a lower rate is available. Your credit union can help make the whole process easy.  

Improve Credit

Your credit score plays a critical role in determining your access to affordable financial services. It can determine your rate of interest or even whether you qualify for certain types of loans. Poor credit can have far-reaching consequences for your long-term financial success.

Paying your bills on time and lowering your credit utilization can help, but at a basic level, understanding your credit score and tracking its progress can be an important first step. If you sign up for Kinecta’s free credit monitoring service, you can view your credit score anytime without harming your credit. Just log into online banking or the mobile app to get your score and personalized tips for improving it.

Let’s Make 2025 Your Best Financial Year Yet

Your financial success matters to us. Whether you’re saving for the future, reducing debt or planning your next big milestone, we offer the tools, products and expert team to help you get there.  

Here’s to a prosperous and successful 2025!

Keith Sultemeier
President and Chief Executive Officer
Kinecta Federal Credit Union