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Area Families Compete to Reduce Debt and Increase Savings in Yearlong Contest
Lenexa, KS (01/22/2009) -- Four Kansas City area families committed to improving their finances will receive free one-on-one financial coaching in a yearlong program beginning this month at CommunityAmerica Credit Union - and the public can learn along with them.
CommunityAmerica is building on their Financial Makeover program from 2008 to reach more consumers reeling from the effects of the economic downturn. Each family in the CommunityAmerica Financial Makeover will work with financial coaches from the credit union. The advisors will guide the families as they endeavor to eliminate debt, increase savings and generally live a more healthy financial life.
The program will be broadcast on radio, with online tools and a public blog available at www.cacufinancialmakeover.com so the public can learn practical and relevant tips, ask questions, and interact with the expert coaches. The contestant family that decreases debt and increases savings the most will win $10,000 at the end of the year. The three other contestant families will each win $2,500.
"CommunityAmerica delivers more than savings, checking and loans," said Dennis Pierce, CEO of CommunityAmerica. "Even before the economic downturn, we offered the opportunity to help break the cycle of debt by providing services such as financial planning and coaches to develop and practice healthy spending and savings habits. The CommunityAmerica Financial Makeover helps not only participating families, but also members of the community looking to make a difference in their personal finance goals. Four families compete, but everyone wins with lifelong financial lessons."
Kansas Citians will find the families easy to relate to: Lakeisha Smith of Parkville is a non-profit financial coordinator and single mom raising a young daughter; Andrew and Jennifer Merz of Overland Park are recent college graduates expecting their first child later this year; Dan and Niccole Neal of Kansas City, Kansas are mid-career professionals raising a family and going back to school; and Keith and Trina Davidson of Holden are getting closer to their kids' college tuition and their own retirement.
The four contestant families - and the financial tips they are receiving from coaches - will be featured on stations associated with the Wilks Broadcasting radio group (Q104 Country, KFKF Country 94.1, Mix 93.3 and Star 102). As a financial cooperative, we were founded to enhance the financial future of each member, so CommunityAmerica also is offering free financial coaching to all families that applied to participate in the contest.
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