As we step into 2024, many of us are looking to set ourselves up for financial success while also making choices that align with our values. At Coastal Community Credit Union, we understand the importance of not only achieving financial health, but also doing so in a way that supports our communities and local businesses. In this blog post, we will explore how you can get financially fit this year, support local initiatives, and feel good about your purchasing decisions, all while banking with a credit union that gives back to the community. It absolutely can be a win for everyone.

Setting up for success

One of the key steps to financial health is managing debt and saving for the future. Coastal Community Credit Union offers a range of resources and support to help you pay down debt and build up your savings. We all have a different relationship with our money–and our debt.

The right strategy for paying down debt varies from person to person. For some, it might look like the snowball strategy–starting with the quickest wins by paying off the smallest debts first. For others, it might be the avalanche method–tackling the highest interest rates first. This guide gives you steps to get started paying down your debt this year.

Conscious shopping and supporting local

The holidays are always a magnet for any discussion around shopping. But the purchasing choices we make matter to our bank accounts and to our community’s bottom line all year. Conscious shopping is all about making decisions that consider the social and environmental impact of the products we buy. Similar to how we pay off debt, our shopping choices and habits are personal and specific to our circumstances. This isn’t about being perfect, because who is? It’s more about making more positive choices, more often.

By shopping locally, you can reduce waste, support small businesses, and contribute to the economic vitality of your community. Coastal Community Credit Union is committed to supporting local businesses and initiatives, and we encourage our members to do the same. While we all need to save money and can’t deny the value of convenience, there are some easy, budget-friendly ways to support local and make a positive impact through our purchasing choices.

• Choose local options for dining and takeout
• Visit your local farmers’ market
• Leave reviews and tag small businesses on social media
• Buy gift certificates from local businesses
• Remember that you can choose local when hiring a contractor, a babysitter, or staff for your own business

If you’re considering opening a business yourself, we can help with that too. Local business founders like Jordy and Cara Denney of CJ Martial Arts in Nanaimo were personal banking clients at Coastal Community when they started their business and decided to work with us for their business banking as well. We’re also proud to serve local businesses like Hot Chocolates in Courtenay, German restaurant Little Bavaria in Port Alberni, and local optometrist office Eye Care Nanaimo.

Learn more about our business banking services here.

Get financially fit while living your values

Unlike traditional banks, credit unions are member-owned and operated, with a focus on community impact. Coastal Community Credit Union is proud to be a 100% member-owned and Island-based organization, dedicated to the financial health of our members and communities. There are several ways banking with a credit union can directly benefit the community and empower you to make a difference through your financial choices.

Because Coastal Community, like other credit unions, is owned by our members, we’re all invested in financial knowledge and education. By focusing on the overall financial health of our members and communities, we can have an impact across generations, in addition to the short term.

Coastal Community Credit Union's Community Investment Program is just one way we commit to supporting and empowering our local communities. In 2023, we contributed $1.6 million to community initiatives and causes across the islands. This type of funding keeps efforts and resources close to home, promoting a diverse local economy.

In addition to getting out of debt and shopping thoughtfully, investing is always the backbone of healthy family and community finances. We make this easy for our members through Qtrade Guided PortfoliosTM*. Investment managers evaluate investments based on environmental, social, and governance performance and work directly with companies to encourage improvements in their sustainability as well as their growth.

Getting financially fit while living your values is not only achievable but also rewarding. By partnering with Coastal Community Credit Union, you can set yourself up for success in 2024, support local businesses, and make a positive impact in your community. We’re here to help you every step of the way, providing the resources and guidance you need to achieve your financial goals while contributing to the well-being of local communities.

Learn more about our community initiatives and book a chat to make the most of your–and your community’s–2024.

*Qtrade Guided Portfolios is a trade name of Credential Qtrade Securities Inc.