Managing finances can be overwhelming and incredibly stressful without the proper guidance. As part of its commitment to customer advocacy, and its philanthropic ConnexCares program, Connex Credit Union is offering the ConneXfactor competition to give its members the resources necessary to take control of their finances and become financially fit.
ConneXfactor, now in its fifth year, is a financial fitness competition where five individuals compete to see who can improve their fiscal situation the most over the next 5 months. Each participant is paired with a Connex financial advocate who acts as a coach, providing them with tips and guidance throughout the duration of the contest. The participant who emerges with the healthiest financial situation will receive a grand prize of $3,000. Additionally, first place will win $1,000 and second place will collect $500.
After receiving more than 100 applications, Connex has selected the five participants who have been awarded an opportunity to develop and achieve their fiscal goals. The contestants are:
Alyssa W. has incurred over $30,000 in credit card debt and very little savings. Her goals are to pay down credit card debt, pay off her auto and student loans while saving nearly $2,000 during the competition.
Gifty B. Heavy debt has been weighing down Gifty’s credit score and her ability to save. She has over $100,000 in student loans and credit card debt, plus an auto loan. Gifty’s goals include paying down credit card balances and increasing savings which will help to increase her credit score, another goal.
Naixtza R. has over $70,000 in student loans, credit cards and auto loan debt. She pays her bills each month but feels like she’s not getting anywhere. Naixtza would like to significantly pay down her debt and have $1,500 in an emergency savings account – which will help to increase her credit score.
Allen G. has one year left for his college education, which he currently pays out of pocket. He hopes to own a home one day, pay down his motorcycle loan, and to create an emergency savings fund.
Brendan G. Brendan is currently juggling 3 part-time jobs trying to make ends meet. He has over $7,000 in debt with no savings. He would like to learn how to budget while paying down his debts and saving for the future.
“Congratulations to these five contestants who have earned an opportunity to work closely with a Connex financial advocate to become financially fit and improve their lives,” said Carl J. Casper, EVP and COO, Connex Credit Union. “Each year we continue to offer ConneXfactor to help contestants take the first major step towards a healthy financial future.”
Those who wish to obtain a similar experience as the participants can do so by visiting a Connex branch and speaking with one of our knowledgeable financial advocates or by visiting the ConneXfactor website.
For complete updates on the competition and financial tips, please visit the ConneXfactor website at www.connexfactor.com.
Alyssa W
Gifty B
Naixtza R
Allen G
Brendan G