12 Steps to Financial Wellness

Step 3: Pay Down Debt

You’ve tracked your spending, designed a budget for your monthly expenses, and you’re on a good path to financial wellness. In this next step, you’ll create a plan for paying down debt.

Consumer debt can be one of the biggest challenges to financial wellness. With some intentional action and commitment, reaching true financial wellness is possible.

Here’s how to pay down or off your debt in five simple steps.

1. Organize your debt

List every credit card you own along with an outstanding balance. Jot down the amount owed to each card issuer. Next, list the interest rate of each card. Repeat these steps for other loans you may have as well.

2. Choose your debt-crushing method

There are two approaches generally advised to folks who are seeking to get rid of their debt:

• The snowball method involves paying off your smallest debt first, and then moving to the next-smallest until all debts have been fully paid.

• The avalanche method involves getting rid of the debt that has the highest interest rate first before moving on to the debt with the next-highest rate until all debts are paid.

Choose the method that makes the most sense for your personal and financial circumstances.

3. Maximize your payments

Once you’ve chosen your debt-crushing method, find ways to maximize your monthly payments. You can do this by trimming your spending in one budget category and channeling that money toward your debt. You can also find ways to get some extra cash for your payments, such as freelancing for hire.

4. Consider a debt consolidation loan

When you consolidate debts to one low-interest loan, it’s a lot easier to manage the monthly payments. Plus, the savings in interest you won’t pay can be significant, especially if the new loan has a low-interest rate. If this approach sounds right for you, consider taking out a personal loan.

5. Negotiate with your creditors

Many credit card companies will be willing to lower your interest rate once you prove you are serious about paying down debt. After kicking off your debt payment plan, it’s worthwhile to contact each credit card company to discuss options.

No matter which strategy you go with or the methods you use for paying off your debt, commit to not adding more debt onto your card while paying it down. Paying off a large amount of debt will take time and willpower, but living debt-free is key to financial wellness. Best of luck on your debt-crushing journey!

Read Step 1: How to Track Your Spending

Read Step 2: Creating a Budget

Read Step 3: Pay Down Debt

Read Step 4: Have the Money Talk With Your Partner

Read Step 5: Practice Mindful Spending

Read Step 6: Pay It Forward

Read Step 7: How to Pay Yourself First

Read Step 8: Know When and How to Indulge

Read Step 9: Build and Maintain an Excellent Credit Score

Read Step 10: Plan for Retirement

Read Step 11: Start Investing

Read Step 12: Review and Tweak

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU.
Learn More About Banking with a Purpose

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Five Reasons to Open a Premier Money Market Savings Account

When you’re trying to save and manage your money, it can be tough to decide the right account to use. Savings accounts are ideal for funds you want to put away for emergency or special purposes, while checking accounts are the way to go for money you’ll spend. But what if you’re looking for something that will help you save with the flexibility to spend?

Look no further than a money market savings account. These are perfect for funds you don’t need immediate access to but may need to withdraw from in the future. Typically, you’ll earn a higher return without the risk of the stock market or the restrictions of a CD.

Here’s a look at the top five reasons to open a money market account

Accessibility of Funds

One of the most attractive features of money market savings accounts is how your funds are “liquid” — they don’t have a maturity date or term requirements. This means you can access money in your account anytime, usually without penalty*

The level of security combined with the ease of accessibility can be ideal if you have occasional, large expenses such as tuition payments, household repairs, or even unexpected medical fess. You’ll simply earn your dividend while waiting for a need to spend.

*withdraw funds up to six times a month with no fees. $10 fee for each withdrawal in excess of six per calendar month

You are in Control

Premier Money Market accounts offer flexibility in how you access funds. In fact, you can make deposits, Write Checks, make withdrawals, and transfer funds into your checking account, so you’re free to use your money in a pinch without any major effort at all!

Whatever purpose you have for your money — whether saving or spending — a money market savings account is an ideal place to keep your funds.

High-Interest Rates

Money market savings accounts offer a rate of return that surpasses your typical savings account. In most cases, the more money you keep in your account, the higher your interest rate is. This is especially beneficial in a rising-rate environment when rates are expected to increase — giving your money the best chance to grow!

Our Premier Money Market Account takes this concept to the next level with a tiered system designed to reward your commitment to saving.

Here’s a breakdown of the four tiers:

Security

Funds in your Money Market account are insured by the NCUA up to $250,000. This means you can keep a large sum of money in your account without the risk of losing it to a market crash or a poor choice of investment. It’s a great opportunity to start saving with confidence!

Banking With A Purpose

AGCU shares your values and faith. We provide individuals, ministries, and businesses with the financial tools and knowledge they need to grow and thrive financially so they can transform our world through their generosity.

The money you deposit in AGCU helps churches grow, ministries expand, businesses succeed, and individuals thrive. Whether it’s constructing or remodeling a new church building or funding a home loan, your money is working in the Assemblies of God community.

How to Get Started

Click below to open a Premier Money Market Account or become a member of AGCU!

Speak face-to-face with an AGCU Video Banking Representative from anywhere.
Give it a try today! Video Banking Hours (CST): Mon – Fri: 9:00 a.m.- 5:00 p.m.

Apply through online application.

Do you have questions regarding becoming a member or opening an account? Call (417) 831-4398 or fill out our contact form and we will contact you!

APY=Annual Percentage Yield. APR= Annual Percentage Rate. Offer effective 9/25/23. Up to 6 withdrawals with no fees per calendar month, $10 fee for each withdrawal in excess of six per month. Rate may change at any time. The minimum balance required to open this account is $50,000.00. Minimum average daily balance of $50,000. If, during any month, your average daily balance is below the required minimum, your account will be subject to a minimum balance fee of $10.00 monthly. You must maintain a minimum average daily balance of $50,000.00 in your account to obtain the disclosed annual percentage yield.

12 Days of Impact

At the Assemblies of God Credit Union, your membership actively supports ministry, education, and humanitarian causes. It’s more than just banking; it’s a faith-driven financial partnership we call Banking With A Purpose.

In the spirit of the holidays, let’s celebrate “12 Days of Impact” as we reflect on the incredible contributions your membership at AGCU makes to these and many more initiatives. Your membership truly matters, creating ripples of positive change that resonate far beyond the realms of traditional banking. As we step into the new year, let’s continue to make a difference together.

Convoy of Hope

A humanitarian, faith-based organization on a mission to feed the hungry and bring help and hope to communities in need. Through Disaster Services, Community Events, Agriculture, Women’s Empowerment, and Rural Initiatives, Convoy of Hope impacts lives globally, offering a helping hand where it’s needed the most.
Learn more about Convoy of Hope

AG World Missions

Assemblies of God World Missions (AGWM) finds strength in your commitment to global missions. Your membership supports AGWM in reaching, planting, training, and serving worldwide. Together, we’ve seen countless lives transformed and churches planted, fulfilling the core values of the AG Fellowship. Every 54 seconds, someone comes to Christ, a testament to the impact your faith has globally.
Learn more about Assemblies of God World Missions (AGWM)

AG U.S. Missions

Your commitment to AGCU extends beyond borders, reaching communities within the United States through AG U.S. Missions. By supporting windows like Adult and Teen Challenge, Chaplaincy Ministries, and Intercultural Ministries, your membership becomes a beacon of hope, providing resources and encouragement where it’s needed most.
Learn more about Assemblies of God U.S. Missions 

Education: Nurturing Minds, Building Futures

Through AGCU, you’ve empowered educational initiatives, contributing to dozens of colleges, universities, public schools, and private Christian education. Your commitment to scholarship programs, educational materials, and financial education reflects a dedication to nurturing minds and shaping future leaders.

Project Rescue

Your membership takes a stand against human trafficking through support for Project Rescue. This multinational network fights to restore hope to survivors, and your involvement makes a significant impact in the ongoing battle against this global scourge.
Learn more about Project Rescue

YiPoA – Youth in Pursuit of Awakening

Your commitment to the Youth in Pursuit of Awakening (YiPoA) movement is a testament to your dedication to raising a generation that loves Jesus and lives out the gospel. Through events and programs, you’re actively participating in shaping future leaders who will impact the Kingdom.
Learn more about Youth in Pursuit of Awakening (YiPoA) 

Fellowship of Christian Athletes

With your membership, Fellowship of Christian Athletes (FCA) has the power to use the platform of sport to reach coaches and athletes with the transforming power of Jesus Christ. Your commitment to integrity, serving, teamwork, and excellence resonates through FCA’s mission to lead every coach and athlete into a growing relationship with Jesus Christ.
Learn more about Fellowship of Christian Athletes (FCA) 

REVFresh

Your benevolence through REVFresh refreshes ministry leaders, addressing personal needs and encouraging generous living. Your partnership supports a culture of support and care, reflecting the values of integrity, accountability, responsibility, and dedication.
Learn more about REVFresh

Springfield Giants

Your support of Springfield Giants Inc. signifies your commitment to character development through competition. The attributes of a Giant—character, accountability, responsibility, and dedication—are instilled in the youth, shaping them into confident future leaders.
Learn more about Springfield Giants

Simply Loved Orphan Care

Through Simply Loved Orphan Care, your membership contributes to projects and funding for orphanages in Eastern Europe. Your support ensures better care and preparation for life after the orphanage, reflecting your commitment to making a difference in the lives of these children.
Learn more about Simply Loved Orphan Care

Light The Way Ministry

Your membership supports Light The Way Ministry, spreading the light and hope of Jesus Christ beyond the church walls. Through gatherings, events, and year-round efforts, your involvement becomes a source of transformation, bringing healings, deliverances, baptisms, salvations, and breakthroughs.
Learn more about Light The Way Ministry

The Young Entrepreneurs Showcase

Your commitment to the Young Entrepreneurs Showcase provides a platform for young people to showcase their talents and entrepreneurial spirit. Through your support, you’re actively nurturing young minds and fostering a culture of innovation.
Learn more about Young Entrepreneurs Showcase

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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Scam Alert

Scammers are using the AGCU phone numbers to make calls. The caller claims to be with AGCU and is asking for personal and confidential information. AGCU’s phone number may show up on the caller ID, but the call is actually from a scammer, not AGCU. If you receive a call and the person asks for confidential information, hang up!

NEVER give out confidential information, such as account numbers, social security numbers, mother’s maiden name, or passwords to an unsolicited caller!

If you get a phone call, email, or a text message from AGCU or your credit card company, or anyone asking you to do something, pick up the phone and call AGCU’s Member Care team. Don’t call back to the number that sent you the text!

Learn more about spotting scams

AGCU Member Care services are just a call or click away. We’re proud to serve you and our community.

Call:
417-831-4398 or 866-508-AGCU (2428)
Monday-Friday 7:30 am- 5:00 pm CT

Top 5 Reasons to Choose AGCU

Choosing your financial institution is an important decision. Banking with a Purpose means your faith is always in action. Your financial choices actively support missions, ministries, and humanitarian causes. It’s more than banking; it’s a faith-driven financial partnership. Here are the top five reasons to consider banking with AGCU:

Competitive Rates on Your Deposits

AGCU doesn’t just provide loans and savings accounts; we’re the folks that want your money to grow while you sleep. If you’re all about making your money pull double duty as it works hard for you AND the Kingdom, we’re right there with you. We’ve got checking accounts that can earn you as much as 2.5% APY, Jaw-dropping CD rates, and Money Market accounts that offer both flexibility of access and high earnings.

We’re All in This Together

AGCU shares your values and is committed to serving the Assemblies of God Church. But here’s the best part: when you bank with us, you’re not just managing your money; you’re part of something bigger. We donate a 10% of our earnings, like a tithe, to support ministries, humanitarian causes, and education. You’re not just banking; you’re investing in a faith-driven mission every time you choose AGCU.

We Get You

Financial alignment is essential, right? We understand the unique culture, ministry, and dreams of the Assemblies of God community. We’re here to help you achieve your goals. We get the challenges you face and are here to support and secure your financial journey, no matter how tricky it gets.

Your Money, Your Way

AGCU’s reach goes far and wide. As a member, you’re not confined to local branches. You have access to the extensive Shared Credit Union CO-OP network of over 30,000 ATMs and 5,000+ shared branches nationwide. That means more banking options and convenience wherever you go.

A Faithful Legacy

AGCU has a rich history built on the call to serve its members. This legacy isn’t stuck in the past; it’s a living testament that will be felt for generations. We hold fast to Godly principles, ensuring that every member is part of a legacy rooted in faith and dedicated to serving the Assemblies of God community.

In a nutshell, AGCU – Assemblies of God Credit Union offers much more than just banking; it offers a faith-infused financial partnership with a purpose. It’s your money, your faith, and your values working together to create a better future for you and the world. Join us, and let’s make a difference, one deposit at a time.

Join AGCU today!

To become a member of AGCU, either start a Video Banking Call or apply through an online application.

Speak face-to-face with an AGCU Video Banking Representative from anywhere.
Give it a try today! Video Banking Hours (CST): Mon – Fri: 9:00 a.m.- 5:00 p.m.

Apply through online application.

Do you have questions regarding becoming a member or opening an account? Call (417) 831-4398 or fill out our contact form and we will contact you!

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Like us on Facebook!

APY=Annual Percentage Yield