MADISON, Wis.—Summit Credit Union has launched the ninth year of its Project Money program, having selected four families to participate in this year’s program.
The families will compete to reduce debt and increase savings to better manage their finances and improve their daily lives.
Participants will work directly with a Summit financial coach who will provide personalized strategies and resources to make impactful change. Culminating in February of 2018, the team that earns the most points will receive a $10,000 cash prize from Summit, while all runners-up receive $2,500, the credit union said. Points are rewarded for overall increase in savings, debt reduction and participation in program events.
“We created Project Money as a way for consumers to learn through the challenges and successes of our participants,” says Summit Credit Union CEO and president Kim Sponem. “Our teams and coaches inspire others to take control of their finances, changing the way we spend, save, and create a positive financial future.”
The 2017 Project Money participants are:
- Jennifer Price: Jennifer and daughter Ashley (14) hope to overcome a slew of recent medical bills and improve their spending habits to secure a successful financial future for the long-term.
- Moriah and Terrance Harney: As a respiratory therapist for nearly 20 years and a personal trainer, these parents of one-year-old son Daylen hope to manage two mortgages (they own a home and rent one out), while learning to be “financially married.”
- Karl and Heather Duncan: Karl and Heather want to use their combined salaries to set (and achieve) more financial goals between working full-time and managing their three teenage daughters’ busy schedules.
- Venus Washington: A fitness entrepreneur, part-time teacher and track coach, Venus hopes to pay off credit card and student loan debt, grow her business and eventually buy a new home for her and seven-year-old daughter Madison.
Throughout Project Money’s duration, participants will share their journey with the greater community through Summit’s Money Smarts blog and on its Facebook and Twitter pages. Additionally, Project Money participants will appear live in studio on Madison’s NBC15 with Anchor Leigh Mills to discuss their challenges, wins and motivations throughout the program.
Additional information can be found at https://www.summitcreditunion.com/project-money. In addition, coverage of previous Project Money participants can be found on CUToday.info by searching “Project Money.”