Tower Federal Credit Union, 7901 Sandy Spring Road, Laurel, MD 20707-3589

Financial Education Program

Tower engages in an ongoing effort to produce and make available to our members financial information that will contribute to their financial well-being. In 2002, we began a credit card education campaign titled “Minimum Payment = Maximum Pain,” which encourages college students, recent graduates, and young professionals to avoid long-term debt caused by paying only the minimum credit card payment due each month. Tower produced a series of six brochures that are available in our branches, on our Web site and distributed on SEG site visits. We were applauded for our efforts by Senators Paul Sarbanes and Barbara Mikulski, as well as Congressmen Albert Wynn, Steny Hoyer, Elijah Cummings and Ben Cardin.

We have developed and produced several other educational pieces on financial advice, awareness and prevention, and other topics of concern to our members. “Identity Theft—Don’t Let It Happen to You” outlines how a thief gains access to vital information, how to safeguard one’s privacy, and what to do in the case of ID theft. “Credit Reporting 101” offers comprehensive and clear information about understanding a credit report and credit score, how to obtain both, and how to report errors. “Getting behind the Wheel in Auto Buying & Refinancing” gives members guidance to research new and used car purchases, search for the best financing deals, and the best way to negotiate with a dealership. It is accompanied by “Fast Answers on Buying and Financing a New or Used Vehicle,” a brief Q&A brochure for more information on getting a good deal. “Watching Out for Credit Card Tricks” is a thorough guide to reading the fine print in credit card offers and agreements.

Tower also offers our members free educational seminars on a regular basis covering topics such as budgeting, tips for getting organized and keeping records, preparing wills and estate planning, youth money management, retirement strategies, how to find funding for college, and more.

As part of our member financial education program, Tower’s Web site includes an online resource, Money $ense, that provides a variety of articles on topics of Awareness and Prevention, General Finances, Home & Residence, Investing, Retirement, Income Tax & Estate Planning, Issues Facing Parents and Youth, Escaping the Credit Card Trap, and Auto Buying & Financing. Additional resources are linked at the end of each article. Members may also view or order their credit report, learn when the next Tower seminars are scheduled, calculate their refinance savings or debt payoff goals, and more.

For more information or to obtain copies of our financial education brochures, contact: Patricia Wagaman, Manager, Advertising & Public Relations, 301-497-7054 or Natasha Henry, Communications Writer, Advertising & Public Relations, 301-497-7000, ext. 7143.

About Tower Federal Credit Union

Tower Federal Credit Union is a member-owned, non-profit financial institution with headquarters in Laurel, Md. Established in 1953, Tower is the largest federal credit union in Maryland , with $1.5 billion in assets, and is among the top 50 in the United States . It provides a full array of financial products and services and serves over 112,000 members worldwide. Tower currently serves its local-area members with six branches in Prince George ’s, Howard, and Anne Arundel counties and five branch locations at the Fort Meade , Md. facility. Web site: towerfcu.org .