Banknotes Blog

Senate Bill 451: Understanding the Differences Between Credit Unions and Banks

By: Stephen Eager

The Wisconsin State Senate is currently considering a bill to help modernize some language that no longer applies in today’s financial landscape, and therefore causes some administrative hassles for credit unions, specifically. To be clear, we are in support of the majority of the bill. However, there are four provisions that blur the lines between credit unions and banks that we believe should be removed.

You don’t have to look back very far in history to realize that the financial industry was built by men, for men. In fact, as recently as 1974, single, widowed, or divorced women were required to have a man cosign any credit application, regardless of the woman’s income. Luckily, most modern wealth management professionals not only include women in the process, but often recognize and respect that women have developed significant financial power.

Preparing for a new baby can be an overwhelming, anxiety-inducing, exciting experience. Strollers, diapers, daycare … there are so many decisions to make in what seems like a long time, but really isn’t. If you’re a new mom or dad, you know how quickly nine months pass. If we can give anyone that is expecting one piece of advice, it’s to add financial planning for your child to your list of to-dos.

Your credit score is an important part of your financial health. Credit Sense can help you understand your current credit score and provide suggestions for improvement based on the criteria that go into the equation.

It's hard to believe that we've turned the page on 2021, a year full of ups, downs, and everything in between. But before you look ahead to the possibility that 2022 holds, it may be a good idea to evaluate how you did financially over the previous 12 months. Budget & spending, emergency & other expenses, and savings are good places to start.

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