The NZCU South Money MAP
At NZCU South our customers are actually members - that's how a credit union works, like a family! One of the most important aspects in the life of a credit union is to help each member set and fulfill their financial goals and get onto a sound financial footing. In order to achieve this, we create what we call their personal Money MAP which stands for "Member Analysis Profile". This Money MAP helps us to develop a personalised set of solutions for each member, whether it is to help them save, get out of debt, or achieve specific financial goals.
The Money MAP is compiled by spending one-on-one time with each member, and building an individual profile. This profile or MAP lays the foundation for members to gain insight into their financial position, what needs to be done about it, and eventually experiencing the freedom and exhilaration of having their money matters under control. In that way a Money MAP is like a road map. It also helps us to create innovative and relevant solutions to suit our members. This is so different from normal banking, where you fit in with the institution!
How does the Money Map work?
The Money MAP provides the framework, the detail, and the connections to the member and enables them to visualise not only the problem, but the solution as well. Money Maps provide these elements in an accessible, imaginative, and focused way. Are you looking for someone to help you get on a sound financial track, guide you through the process and create a Money Map that is realistic and works for you?
The NZCU South Money MAP and Money Coaching Service provide short-term and ongoing help for establishing effective financial solutions for individuals, couples, single parents and small businesses. Follow-up sessions offer support, accountability and guidance. Members learn how to develop and maintain a spending plan that works for their individual and particular household needs.
Helpful Money Map tips
Do you, like so many people, ask the question: "Where does all my money go?" Below is a list of simple tips that will help you and your family form a picture of your own money map.
· Be realistic. You can reduce your household spending by 15% or so, but a 25% or more reduction in spending is probably not attainable.
· Try to save at least 5% of your income each month.
· Track your spending. Don't fall into the trap of setting up a detailed budget and then forgetting to track your spending against it.
· Correct bad spending habits through discipline and learning from the past.
· Don't panic. If you spend more than you make in a particular month, it is not the end of the world.
· Stick to your budget as best you can, learn from your mistakes and try to improve every month.
· Go to your nearest NZCU South branch and get started on a Money MAP today!
At NZCU South we are committed to strong member relationships. Become part of our family and experience the difference.