Waukesha Woman wins $10K In Sixth-Annual Summit Credit Union ‘Project Money’ Competition
MADISON, WI (February 19, 2015) — Just seven months ago, Katie Press, a young, single professional says she felt like she was “held hostage” by her student loan and credit card debt.
Today, the 33-year-old UW-Waukesha academic advisor has decreased her debt by $10,324 – cutting down her loan payments by 11 years – and increased her savings by $5,068. She is also the grand-prize winner of Summit Credit Union’s sixth-annual Project Money competition.
With the guidance of her Project Money financial coach, Adam Grady, Katie says the competition helped her take control of her debt instead of the other way around. “I always felt like I had to choose between savings and reducing debt,” she says. “With Project Money, Adam showed me how I could accomplish both types of financial goals.”
Katie was named the winner of the 2014 Project Money competition at the finale reception held by Summit Credit Union on Feb. 17. She is the first Project Money competitor hailing from the Milwaukee market. She received the grand prize of $10,000; each of the Project Money runners-up also walked away with $2,500.
“Katie embraced Project Money from day one and never let that go,” said Grady. “Each time we talked, she shared a new way to eat, drink and breathe this contest. Every decision she made, whether it had to do with actual money or not, she considered the impact it would have on her overall financial situation.”
Since the program’s kick off in June 2014, Katie, along with three other contestant families, as well as the community members who followed their progress, learned how to do more with their money and achieve financial success. Collectively, the four competing teams boosted their savings by $40,151 and reduced their debt by $34,916.
The other 2014 Project Money participants included:
- Louise Latterell and Dave Huttleston Jr., and children, Will, Ellie and Celine, from Madison, Wisconsin
- Andrea Den Otter and Jason Tish, from Madison, Wisconsin
- Connie Samuels, from Fitchburg, Wisconsin
“It takes a lot of courage for someone to make their financial story public, and allow others to learn from their experiences,” said Kim Sponem, CEO/president of Summit Credit Union. “These four Project Money contestants took on the challenge of changing the course of their financial path. They learned valuable tips and tools and developed habits that will continue to reap benefits far into the future. We thank them for letting all of us – at Summit as well as the public – learn from them.”
Visit www.summitcreditunion.com/projectmoney to learn more about each participant’s journey and final results, as well as to learn about the next Project Money Challenge. Applications for the 2015 program are available at Summit’s web site and will be accepted until March 14, 2015.
About Summit Credit Union
Established in 1935, Summit Credit Union is a member-owned financial cooperative open to anyone in Wisconsin. Summit holds $2.1 billion in assets and has more than 142,000 members with 30 locations throughout the Madison and Milwaukee areas. For more information, visit www.summitcreditunion.com or call 608-243-5000 or 1-800-236-5560.