Graduating is a significant milestone that marks the beginning of an exciting new chapter – congratulations to the many recent graduates across Maine and beyond! As they step into the professional world, managing finances becomes imperative, but it can be overwhelming, no matter your age or stage in life. Sebasticook Valley Federal Credit Union (FCU) offers the resources and personalized services needed for success. 

Tips for Managing Student Loans 

Graduation often comes with the responsibility of student loans. Here are some tips for effective management: 

  1. Be an expert on your loan: Knowing the types of loans, their interest rates and repayment terms is essential.
  2. Create a budget: Tracking income and expenses helps ensure that monthly loan payments are met.
  3. Consider refinancing: Sebasticook Valley FCU offers competitive rates for loan refinancing, which can lower monthly payments and save money over time.

Building Credit 

You’ve probably heard that building a strong credit history is crucial for financial stability. But how do you start? 

  1. Open a credit card: The Visa credit card from Sebasticook Valley FCU features a competitively low APR, making it easier to manage and pay off balances each month.
  2. Make timely payments: Paying bills on time is, of course, essential. Setting up automatic payments can prevent missed due dates. Sebasticook Valley FCU’s app offers an easy way to set up automatic payments.
  3. Monitor credit: Regularly checking credit reports helps track progress and correct any errors.

How Sebasticook Valley FCU Can Help Recent Graduates  

Starting a career involves more than just securing a job – It’s about managing finances and planning for the future. Here are some of the services we offer that can help: 

  1. Savings and checking accounts: Opening a savings account helps build an emergency fund, while a checking account manages everyday expenses. Did you know we have special checking accounts for those 18-25? The free4ME checking accounts come with no charges for a debit card or digital banking. 
  2. Loan products: Whether a car loan or a personal loan is needed, Sebasticook Valley FCU offers low-interest rates and flexible terms to fit individual needs.
  3. Debt repayment assistance: For those struggling with high-interest debt, debt consolidation loans or home equity loans provide a lifeline.
  4. 4. Saving options: A range of savings accounts and investment opportunities help build a secure financial future.
  5. 5. Personalized service: Prioritizing personalized service ensures that members, like new graduates, feel valued and understood. Serving members in the heart of Maine for over 70 years, we embrace our “people helping people” mentality. Plus, with extended hours, Sebasticook Valley FCU meets the needs of its members conveniently.

Why Choose Sebasticook Valley Federal Credit Union? 

Credit unions often provide lower interest rates than traditional banks, driven by a commitment to pass on the savings to members. The focus is on financial wellbeing, not on generating profits. 

Sebasticook Valley FCU is dedicated to helping recent graduates navigate this new phase of life with confidence. From offering loans and building credit to entering the workforce and planning for the future, Sebasticook Valley FCU supports members every step of the way. Joining Sebasticook Valley FCU means discovering the benefits of being part of a community-focused financial institution. 

For more information about services and how Sebasticook Valley FCU can help achieve financial goals, visit our website or stop by one of the branches!