Word of the Month: Work Ethic

 

Youth working movie theatre concessionsSchool was out, and Aaron and Tom were counting down the days until July. That’s when their first real job would start and they could hardly wait.

“It’s going to be awesome!” Tom said to Aaron while they practiced shooting baskets at the park. “At the end of the summer, we’re gonna be rich!”

Aaron laughed and easily sank a shot from center court. He didn’t think he and Tom would be rich with the money they were making, but he was excited to start his first real job. He almost felt like a grown-up!        

“Don’t forget the best part,” he shouted to Tom over the sound of the bouncing ball. “Free ice cream every day!”

Tom and Aaron had gotten summer jobs at Scoops, the neighborhood ice cream store. They’d be helping the owner, Mr. Smith, behind the counter for a few hours each afternoon during the busy summer months.

“It’s going to be so much fun working at Scoops,” Tom said, catching the ball. ”I can’t think of any job I’d like to do more!”

Aaron nodded happily. Tom was right: it was going to be awesome!

***

One week later, Tom and Aaron met up at the intersection of Oak Street and Maple Drive for the walk to Scoops on their first day of work.

“This is going to be the best job ever!” Tom yelled, pumping his fist in the air.

But four hours later, he was telling another story.

“I have never worked so hard in my life!” he complained, collapsing onto a bench down the block from the ice cream store.

Aaron dropped into the spot next to him and let out a loud groan. “That was crazy,” he agreed.

“I thought this job would be fun Getting people the ice cream flavor they want, putting on the toppings, working the cash register—but it was so hard!”

And it was. Scoops had been packed all afternoon, and it wasn’t easy to keep the customers happy, make sure everyone got the right change and greet each person with a smile, too, like Mr. Smith insisted they do.

Aaron shrugged. “Don’t forget; we’re getting paid for this work,” he tried to cheer up Tom. But Tom still brooded.

***

The next day, when Aaron reached the intersection of Oak and Maple, Tom was nowhere to be found. Aaron waited one minute. Then two  and three, but still no Tom. He looked at his watch. If he didn’t leave soon, he’d be late to work!

Finally, after waiting seven whole minutes, Aaron left. He ran all the way to work so he would still be on time.

Tom showed up 15 minutes later, not looking too happy to be at work. Mr. Smith didn’t look too happy to see him either. He handed Tom a Scoops apron and told him to get started at the toppings center.

Work that day was a little easier than the first day, since Aaron and Tom knew what to expect. They were also learning their way around the counter a little better and everything took them less time.

“That wasn’t so bad, was it?” Aaron told Tom as they licked their triple-scoop cones after work that day.

Tom just shrugged.

The next day, Tom was waiting for Aaron at Oak and Maple and Aaron was happy to see him.

“I’m leaving early today,” Tom told Aaron. “My aunt is taking my cousins to a Cubs game and they’re leaving at 4:15. They invited me to come along and I need to leave at 4 in order to be at their house on time.”

“Can’t they leave a little later?” Aaron asked. Their job was over at 4:30 every day. Aaron remembered Mr. Smith’s frown when Tom had shown up late for work yesterday and he couldn’t imagine their boss would be too happy if Tom left a whole half-hour early.

“Nope,” Tom shrugged as they reached the door of Scoops. They both walked into work together.

Later that afternoon, after exchanging a few words with an unhappy-looking Mr. Smith, Tom gave Aaron a little wave and hurried out of the store.

The rest of the week passed quickly. On Thursday, Tom came late again—this time a whole hour late. On Friday, Tom and Aaron walked through the doors with huge smiles on their faces.

“Payday!” they whooped, exchanging high-fives.

But a few hours later, when they got their checks from Mr. Smith, only Aaron was smiling.

“What’s this?” Tom asked Mr. Smith.

“That’s your paycheck,” Mr. Smith said calmly.

“But why is it so much less than it’s supposed to be?” Tom whined.

Aaron saw that his friend was upset. “We were supposed to get paid the same,” he said, coming to Tom’s defense. “Why is my check so much higher than Tom’s?”

“That’s because I hired you with the understanding that you’d get paid a specific salary if you worked a certain number of hours each week, right?”

Tom and Aaron nodded. Aaron had a feeling he knew where this was going.

“And you, Aaron,” said Mr. Smith, “have worked all those hours.”

Mr. Smith turned to Tom, who was staring at the floor. “While you, Tom, have not. You’ve come late, you’ve left early, and I’ve paid you what I believe is a fair rate for the amount of hours you actually worked. You need to learn how to develop—and to respect—a work ethic.”

Tom looked interested. “What’s that?” he asked.

“That means respecting a job. Being on time. Fulfilling your responsibilities. Doing what you are hired to do. Showing that it matters to you. Do you know why it is important to have a work ethic?”

“Why?” asked Tom.

“Because, when you accept a job, you are committing to do the work involved,” Mr. Smith explained. “You are giving your word that you will fulfill your responsibilities. And if you want your job to pay off and to open new opportunities for you, you need to show that you can handle the workload and do your job well. Do you understand what I’m saying?”

Tom nodded, looking thoughtful. He was quiet all the way home.  

The next day, when Aaron reached the corner of Oak and Maple, Tom was there to greet him. Tom stayed until 4:30 sharp that afternoon, and all the days the rest of the week.

On Friday, Mr. Smith was smiling widely when he handed them their checks.

“Full paycheck for both of you this week,” he said.

The boys thanked him, but he wasn’t done.

“Can you stay a few minutes late today?” he asked the boys. “I have an interesting opportunity you might want to hear about.”

Aaron and Tom shared a quick fist-pump when Mr. Smith’s back was turned. They didn’t know what Mr. Smith wanted to talk to them about, but it sounded interesting. And they knew it was only because they had shown a strong work ethic.

Talking Points:

  • Can you think of three ways to show a strong work ethic?
  • Do you think it’s easier to show a strong work ethic at an easy job?
  • How can a strong work ethic help you get ahead in life?

2019 Mutual CU Scholarship Recipients Announced

Press Release

May 14, 2019

 

2019 Mutual Credit Union Scholarship Recipients Announced

(Vicksburg, MS): The Mutual Credit Union Scholarship Committee is pleased to announce the following High School Seniors as selected recipients in the 2019 Mutual Credit Union Scholarship Program.

Alyshia Moore – Vicksburg High School – $3,000

Alexis Lomax – Central Hinds Academy – $2,000

Jonathan Shelton – Mississippi School for Math & Science – $1,500

Emily Vandennieuwboer – Warren Central High School – $1,500

Abigail Wallace – Warren Central High School – $1,000

Reann Ponder – Warren Central High School – $1,000

2019 Mutual CU Scholarship winners collage

Each year, Mutual Credit Union offers graduating high school seniors the opportunity earn one of six scholarships to pursue higher education. Mutual has a firmly held belief that the education of our community’s youth is a solid investment in our community’s future. This year we were proud to award a total of $10,000 in scholarships to six selected recipients. We congratulate all 2019 graduating high school seniors and offer encouragement to you in all your future endeavors.

For information on the Mutual Credit Union Scholarship program, please follow this link to our web page. For questions, please contact the marketing department at marketing@mutualcu.org or call (601) 636-7523 ext. 1226.

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2019 Mutual Credit Union Scholarship Press Release

9 Steps to Buying Your First Car

CC_July_GettyImages-183212513-768x576

Congrats—you’re ready to purchase your first real car! 

The process can be daunting, but our certified financial counselors and loan officers here at Mutual Credit Union will walk you through it. Follow our guidelines for a stress-free ride! 

1. Determine if you really need a car 

OK, you weren’t expecting this, but it’s important to take a step back to review your actual transportation needs. Lots of college towns have a great bus system in place, which can save you loads on car costs. If you have a car-owning good friend you’ll be riding into town with each weekend, it may not pay for you to have your own set of wheels. Also, if your campus has everything you need within walking distance, it can be cheaper to rent a car when you need it instead of buying one now. 

2. Know your budget

If you’ve determined that a car purchase is necessary at this point in your life, don’t start hunting for your dream car until you’ve worked out a realistic budget. Take a hard look at your other monthly expenses to see how much you can spare for a new set of wheels. Don’t forget to include some cash for auto insurance, gas and maintenance. 

3. Create a tentative wish list 

This is your first car, so it doesn’t need to have all the bells and whistles it does in your dreams. Sit down and make a list of all the “must haves” and “wants” you’re looking for in a vehicle. Determine how much each feature would cost you in a car and decide which are really important. 

4. Obtain financing 

If you’ve been saving up cash for your first car all through high school, you’re set! Otherwise, visit any Mutual Branch location or visit our web-page at  mutualcu.org to learn about your auto loan options and to get your pre-approval. 

5. Research your options 

You’re ready to start looking for a vehicle that will satisfy your needs and wants. You can research ratings and user reviews on sites like Cars.com and create another list that contains your top three choices of car makes and models. 

6.    Look up listings 

Start scavenging for listings of your car choices online and in your neighborhood. Once you’ve found several that might work, research their histories on Carfax.com and then contact the seller to set up a test drive. 

7.    Take it for a spin 

If a car checks out and everything looks good, you’re going to want to take it for a test drive. Pay attention to details like legroom, acceleration, brake functionality and more while you drive. 

8. Have it inspected 

If you’re purchasing a used vehicle, it’s best to have it inspected by a mechanic before signing on the deal. 

9. Make it official 

If your car has passed the test drive and inspection, you’re ready to make it official! Be sure to read all documents before signing and obtain insurance before your first joyride. 

Enjoy your new set of wheels and drive safely! 

Your Turn: Have you recently purchased your first set of wheels? Share your tips with us in the comments!

 

SOURCES:

https://www.carbuyingtips.com/first-time-buyer.htm

https://www.edmunds.com/car-buying/10-steps-to-buying-a-used-car.html

https://www.carbuyingtips.com/used.htm 

2019-2020 Mutual Credit Union Scholarship Committee NOW Accepting Applications

Press Release

February 1, 2019

2019-2020 Mutual Credit Union Scholarship

(Vicksburg, MS): The Mutual Credit Union Scholarship Committee is pleased to announce the we are accepting applications for our 2019-2020 Mutual CU Scholarship. Every year, Mutual provides $10,000 in awards for the upcoming school year to recognize its members who have shown scholastic achievement and who are interested in advancing their education. We will award six (6) scholarships in the amount of $3000, $2000, (2) $1500, and (2) $1000 to High School Seniors who best meet the requirements.

The deadline to apply is Monday, April 1, 2019. A completed application package must be mailed or delivered by April 1, 2019 to the following address:

Mutual Credit Union • ATTN: Susan Mandarino • PO Box 25 • Vicksburg, MS 39181

It can also be emailed to smandarino@mutualcu.org or delivered to any of our branch locations. For additional questions or to request an application be mailed to you, please call 877-457-3654 ext. 1226 or email smandarino@mutualcu.org.

Mutual CU has a firmly-held belief that the education of our community’s youth is a solid investment in our community’s future. We wish the best of luck to all applicants and to each of our graduating seniors.

Hours of operation for all Mutual locations are Monday – Thursday 9 a.m. – 5 p.m. and Friday 9 a.m. – 6 p.m.; drive through services open at 8:30 a.m. Account access is also available 24/7/365 by visiting www.mutualcu.org, using the Mutual Credit Union app on your mobile device or by calling our SAM Audio Response System at 1-877-457-3654 Option 1.

For more information about the Mutual Credit Union Scholarship program please follow this link to our webpage. For additional questions, please contact the marketing department at marketing@mutualcu.org or by calling (601) 636-7523 ext. 1226.

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6 MISTAKES PEOPLE MAKE IN THEIR 20S AND HOW TO FIX THEM

Like many people, you may have blown through your 20s making financial decisions that served you well in the moment, but may not have been particularly responsible. 20s and 30s Dinner out several times a week, credit card bills you barely looked at and luxury cars way beyond your budget—life was practically a party!   

But now, the party’s over. You’ve woken up in your 30s and realized that all that overspending is going to cost you big—and it’s going to cost for years to come. 

Luckily, there’s hope. It’s not too late to fix the financial mistakes we all make when we’re young and blissfully ignorant. 

Here are six of the most common mistakes people make in their 20s and how to fix them: 

1.) The mistake: Racking up credit card debt 

Maybe you were broke while in college, but desperate for a good time, so you swiped your way through vacations and nights out on the town. Or maybe you knew you were falling into the debt trap to cover student-related needs on a shoestring budget. Unfortunately, it didn’t just go away like you’d hoped. 

The fix: Stop using your credit cards 

It’s time to be an adult and own up to your mistakes. Learn how to say no to impulsive purchases and to live within your means. Create a budget to help monitor and track your discretionary spending instead of mindlessly plowing through your paycheck each month. Stop swiping your credit cards and stick to debit or cash only. Don’t let those credit card bills get any higher! 

2.) The mistake: Ignoring your credit score 

Aside from being the gateway to endless spending, aggressive credit card balances have probably handicapped your credit score, making it difficult or impossible to obtain a personal loan. A poor score will also burden you with an unfavorable interest rate for the loans you do qualify for. And that means you’ll be paying off the mistakes of your 20s for years to come. 

The fix: Know your score and pay down your credit card debt 

It’s never too late to fix a credit score. Begin by monitoring your score. You can order a complimentary credit report once a year from each of the three major credit agencies at annualcreditreport.com. You can also check out your score on sites like CreditKarma.com and Bankrate.com. This will give you an idea of what you’re working with as you work on climbing out of financial hardship. 

Next, work on paying off credit card debt instead of only making the minimum payments each month. Look through your credit card bills and crunch some numbers until you know exactly how high your credit card debt really is. Then, choose one bill to pay down first and begin making the maximum payment your budget will allow. Once you’ve paid it off, divert all those funds onto the next bill until it’s gone and repeat until you have no more debt. Paying down your debt and minimizing the utilization rate on your credit cards will greatly improve your score. 

3.) The mistake: Skipping student loan bills

When you’re facing a debt in the tens of thousands of dollars while earning an entry-level salary, it’s tempting to just pretend it doesn’t exist. Unfortunately, though, that’s the worst thing you can do for your loan and your credit.

The fix: Work it into your budget

Call your lender to work out a more feasible payment plan. You can also check if you qualify for a student loan forgiveness program. Most importantly, make your student loan payments a part of your debt payment plan so you never miss a payment.

4.) The mistake: Neglecting your retirement

Planning for your decades-away retirement may be one of the last things on your list. However, starting to fund your retirement later in the game means missing out on years of compound interest gains.

The fix: Think of it as a fixed expense

Don’t think of retirement savings as an extra; think of it as a necessary, fixed expense that belongs in your budget like your rent and phone bill. Work with the most you can afford and max out your contributions to an IRA or your company’s 401(k) plan.

5.) The mistake: Not having an emergency fund

Life’s great—who needs to think about emergencies? Unfortunately, you do. Scrambling for funds to pay for a large medical expense or to live off of during an unexpected layoff can be a nightmare. Turning toward credit cards to help you get through a rough time can also be the beginning of a debt cycle whose effects are felt for years to come.

The fix: Start small

Experts recommend socking away 3-6 months’ worth of living expenses, but if that’s just not possible for you, start small. Work with whatever you can to make monthly contributions to an emergency fund. Set up an automatic monthly transfer so you never forget. It’s best to keep your emergency money in an account that offers an attractive earnings rate but allows you to withdraw funds without paying a penalty. [Credit union’s Flex Certificates and Savings Accounts are both good choices. Call, click or stop by to speak to a MSRP about setting yours up today.]

6.) The mistake: Not creating financial goals

It’s understandable not to have your entire life planned out yet, but it’s important to set some financial goals.

The fix: Create goals now

Take some time to set some financial goals. Do you want to buy a house within the next decade? Do you dream of opening a business? Are you hoping to retire at 55? Having a concrete goal in mind will help you stick to your budget and manage your money responsibly.

Messed up while in your 20s? It’s not too late to get your finances on track! Follow our tips for a financially sound future.

Your Turn: How did you fix the financial mistakes of your 20s? Let us know in the comments!

 

SOURCES:

https://money.usnews.com/money/blogs/my-money/articles/2018-10-25/how-to-recover-from-financial-mistakes-made-in-your-20s

https://www.thebalance.com/how-to-fix-money-mistakes-in-your-twenties-2385529

https://www.mybanktracker.com/news/fix-financial-mistakes

Making The Holidays Count

Don’t spend your holidays sleeping in until noon and letting the time slip through your fingers with nothing to show for it.college break with laptop

Check out our handy list of ways you can make the holidays count while still getting some of that much-needed rest and relaxation you’ve been craving all semester. You can still get your beauty rest and sleep in, only not until noon – well, at least not every day.

1. Apply for scholarships and internships

During the semester, you’re so bogged down with schoolwork and other obligations that finding the time to pursue scholarships and internships can be daunting. Put your looser holiday schedule to good use by getting a leg up on your applications. Devote one afternoon – or more if you can swing it – to researching and applying for those scholarships and internships. One great resource can be found at careeronestop.org –  Scholarship Finder. Sponsored by the U.S. Department of Labor, this search provides great tools to find those scholarships that match up with you best. Don’t Delay! Many deadlines are December 31, 2018 at midnight! 

2. Catch up with old friends

Don’t let your childhood friendships die because of neglect! Take the time this season to call up your old neighborhood pals and high school friends and have fun hanging out with those who know you best.

3. Plan next semester

Get a head start on planning next semester’s schedule by taking the time to do it now. You’ll be able to think more clearly when you’re not pressured and you can make your decisions at leisure. You might also want to give a thought to creating a daily, weekly and/or monthly study schedule to help you give school work your best shot.

4.   Workout

Don’t go back to school with that telltale holiday bulge! Fit a regular workout routine into your more relaxed vacation schedule and skip the binge-eating this season. You’ll look and feel a whole lot better! Many gyms offer a visitors plan or a trial price to try out their facility. This would be a great way to workout on a budget!

5.   Perfect your resume, cover letter and personal essays

It’s always a good idea to review, update and improve these documents every few months or so. Why not do it now? All it takes is an hour or two to make sure your resume, cover letter and personal essays show you in the best possible light. Be sure to tweak with any changes you’ve had in your work experience and education level and, of course, triple check for those pesky typos!

6.   Spend quality time with family

This might sound obvious, but don’t forget to spend some relaxed time just catching up with your family and creating new memories to take back with you to the dorm. It’s more than just sharing meals; give them your undivided attention, away from your phone.

7.   Volunteer

You might not have much opportunity to give back to the community during the semester, but when you’re on holiday break, why not offer your time and energy to a local cause? To partner with local agencies, consider contacting the United Way of West Central Mississippi at 601-636-1733 to match your time and skills with serving others. Volunteer to be a part of the Salvation Army’s Red Kettle Campaign or identify a need near to your home.

Your Turn: How do you make your holidays count? Share your best tips and techniques in the comments!

SOURCES:

https://www.fastweb.com/student-life/articles/the-10-things-you-should-do-over-holiday-break

https://www.usnews.com/education/blogs/the-college-experience/2011/11/23/holiday-survival-guide-for-college-students-and-parents