Secured Advantage FCU introduces financial program for senior caregivers
SIMPSONVILLE, SC (September 26, 2014) — Family caregiving is usually a full-time job without the pay and benefits. A Caring.com survey finds that more than a third of people who care for ailing parents spend upwards of $10,000 a year for medical bills, medications, in-home care or senior housing. While almost half report spending at least another $5,000 on out-of pocket expenses, some seven-percent pay more than $50,000 each year.
“We understand the burdens that are placed on the family. Thirty-percent of caregivers have no one to turn to financially.” said Betty Rigdon, CEO of Secured Advantage Federal Credit Union. “We want to help. We’ve got our members covered with the new Golden Advantage program.”
The Golden Advantage program can help people save money and better prepare for the financial challenges involved with caring for aging loved ones. Secured Advantage FCU offers a variety of products to accomplish this including:
• Home Equity Loan • Auto Loan refinancing
• VISA® balance transfers • Personal Loans
Nearly two-thirds of caregivers have no plan to pay for their parents’ care over the next five years. A similar number say the cost of caring for a parent has impacted the ability to plan for their own financial future.
“That’s why we’ve developed the Golden Advantage. “ Rigdon added. “At Secured Advantage FCU we want to assure our family caregiver members that while you’re caring for them, we’re caring for you.”