AMOCO and Texas Citizens Bank Are Sending Two Students to Washington D.C.

LEAGUE CITY, Texas – AMOCO Federal Credit Union and Texas Citizens Bank have united to help send two fifth-graders from League City Elementary to Washington D.C. this March.

Bryan Morales and Jorge Ramon are two of the lucky students who have been selectively chosen to attend this year’s trip to Washington D.C. The fifth-graders have been studying the U.S. capitol and political system in school and will now get to experience first-hand what they have learned. The trip will include visits to The Library of Congress, The Supreme Court, The Capitol Building, The Smithsonian, etc. According to the Communities In Schools (CIS) – Bay Area Coordinator, Kaitlyn Thompson, these students are more than deserving of this trip and will truly value the experience for the rest of their lives.

CIS is a nationwide organization implemented into schools with high percentages of children from low-income families. League City Elementary currently has 90 students enrolled in the CIS program, which is about 15 percent of the student body. Kaitlyn knew Jorge and Bryan would greatly benefit from the trip but are financially unable to pay for the entire trip.

The cost per student totaled $1,300. Initially, this was a far-fetched idea knowing that a $1,300 leisure trip would not be in budget for the students’ families. “I got really excited about trying to figure it out, because it’s a privilege not a priority, but for me, it felt like a priority,” Kaitlyn said.

The boys’ parents contributed a total of $900. Knowing $1,700 remained, Kaitlyn reached out to League City Chamber members, Joshua Ryding with AMOCO, and J.P. Morris with Texas Citizens Bank. AMOCO committed $450, and Texas Citizens Bank committed $750. For the remaining $525, Kaitlyn will be reaching out to community supporters.

For the boys, this will be their first time on a plane and their first time in Washington D.C. They hope to see the President, and are excited to share their experience with their families and classmates. Ultimately, Kaitlyn hopes to raise awareness for this opportunity, so next year they will be able to send more students.

Financial differences aside, AMOCO was ecstatic to donate with Texas Citizens Bank for Bryan and Jorge’s benefit. “Texas Citizens Bank and AMOCO would like to set an example of stakeholders in a community coming together for the greater good of its children,” J.P. said.

AMOCO Federal Credit Union is a member-owned cooperative organization. AMOCO’s mission is: To Serve and Satisfy Our Members, and has done just that for more than 79 years. AMOCO strives to provide the best products and services available to its members by offering low loan rates and little to no fees. For more information, please contact Jerica McClain at 281-534-5515 or jmcclain@amocofcu.org.

How to Get out of Debt in the New Year

NerdWallet

A brand new year often inspires positive life changes such as breaking free of debt. If collections calls have been interrupting your dinner or you're just stressed out from heavy-duty debt, here's how to eliminate the burden.

Determine where you stand

In order to solve a problem, you need to fully understand it. Assess your situation by listing all your debts, including balance owed, interest rate and minimum payment required for each. Next, order your free credit reports to make sure you haven't forgotten any debt or overlooked errors. Finally, compare your income and expenses and calculate how much you can realistically use toward debt reduction each month.

Don't make things worse

The last thing you need is anything that increases your debt. Commit to not taking out any new loans or credit lines and, if possible, avoid incurring and charging additional expenses on existing accounts.

Take time for triage

You'll save more in the long run by paying off debts with the highest interest rates first. This category usually includes consumer debt such as credit cards, personal or payday loans, and medical bills. Other types of debt, such as mortgages, car loans and student loans, typically have lower rates, making it more affordable to pay them off over a longer period. Throw as much money as you can each month at your highest-interest debt while still making timely, smaller payments on everything else. Then focus on paying down the next higher-interest loan.

Consider consolidation

When multiple debts are out of control, debt consolidation can be a lifeline. This refinancing process streamlines debts into a single monthly bill, often with lower interest and a smaller overall monthly outlay. This may help eliminate debt faster and less expensively. Home equity financing, personal loans and zero-interest balance transfer credit cards may provide effective options.

Improve cash flow

Even the best debt-reduction plans are useless without having enough money. Do the following to improve your cash flow:

• Bring bag lunches to work and eat fewer restaurant meals.
• Try free and inexpensive entertainment including parks, beaches and hiking trails, as well as local theater, concerts and sporting events.
• Sell unwanted items online or at yard sales.
• Take on additional part-time employment, ask for extra hours at work or turn hobbies into income.
• Make sure you're getting the lowest prices for phone, internet, insurance and other consumer goods/services.

Set the odds in your favor

Why work hard to pay off debt just to end up in the same boat next year? These approaches can help ensure lasting success in curbing expenses and avoid building up debt:

• Create a budget to keep future spending within your means.
• Continue to reduce unnecessary expenses.
• Commit to saving regularly, even if you can spare only a small amount each month, to protect against being thrown back into debt by unexpected events.
• Once credit cards are paid off, keep future balances low and try to pay them in full each month.
• Treat yourself to inexpensive rewards such as a new CD or ice cream to celebrate each important debt-reduction milestone.

Eliminating debt can bring dramatic changes over the coming year. In return, you'll enjoy improved financial health, stress relief and the freedom to spend your paycheck on what really matters instead of having it siphoned away by past obligations.

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