Representatives of USCA and SRP Federal Credit Union prepare to cut the ribbon on the newly designed Pacer $mart hallway and classroom.

USCA and SRP Federal Credit Union Unveil New Pacer $mart Classroom

posted on

March 27, 2025

Aiken, SC – Representatives from SRP Federal Credit Union and the University of South Carolina Aiken gathered on March 21 to celebrate the unveiling of a newly designed classroom and hallway dedicated to financial education at the university.

The new learning space will host Pacer $mart, a financial education program created in partnership between SRP and USCA’s School of Business Administration. Designed to equip college and high school students with financial knowledge, the program covers key personal finance topics, including budgeting, saving, credit, investing, insurance, taxes, and economics.

“The Pacer $mart program is a testament to the power of partnership in shaping students’ financial futures,” said Dr. Daniel J. Heimmermann, Chancellor at USCA. “This newly designed space will serve as a dynamic hub for financial learning, equipping students with the knowledge and confidence to make informed financial decisions throughout their lives.”

Located inside USCA’s Business & Education building, the newly branded Pacer $mart classroom will serve as a hub for guest speakers, financial success camps, and other educational initiatives. The classroom and adjoining hallway feature wall murals that incorporate university and SRP branding, along with an inspiring quote from Benjamin Franklin: “An investment in knowledge pays the best interest.”

SRP Federal Credit Union remains dedicated to the credit union philosophy of “People Helping People” by fostering financial education in the communities it serves. In addition to the Pacer $mart program, SRP provides personal financial education through seminars, financial counseling, school visits, and more.

“Uplifting our communities through financial education is a cornerstone of our mission at SRP,” said Liz Ponder, Interim CEO, SRP Federal Credit Union. “We are proud to partner with USC Aiken to empower students with the knowledge and skills they need for lifelong financial success.”

A figure of a person is being pulled in two different directions by a bomb that reads, "Debt," and a piggy bank that reads, "Save." The graphic reads, "To pay down debt, first you have to save."

To Pay Down Debt, First, You Have to Save

posted on

March 15, 2025

When you want to pay off debt fast, that impulse often means depleting your savings. So how do you pay off debt AND save money?

Mathematically, based on the interest rates of your loans versus your savings account (or other savings products), your debt is likely costing you more money every month than your savings is earning you. Thus, looking simply at the highest net impact of your dollar, it would make sense to use extra income to pay off debt rather than save the money.

But this strategy usually results in more debt. Crazy, right? But think about it. If you're taking all your spare dollars and diverting them to your credit card or other loans, completely neglecting your savings account, what will you do when an emergency comes along, things like car repairs, vet bills, etc.?

Life happens, and since you don’t have a savings account, you'll probably have to slap these expenses onto your credit card. You know, the one you've been working so hard to pay off?

Here's how to get out of this cycle.

Put away the credit cards and stop adding to your debt.

Set a goal for your savings account that you’re comfortable would cover most emergencies, for instance, $500.

Pay at least the minimum payments on your loans while you build your savings account until you reach $500.

Then dedicate more money to paying down debt.

If an emergency comes along that takes your savings below $500, switch back to paying the minimum on debt and put extra money into savings to build that back up.

Once savings is steady at $500 and you feel you've gotten your debt under control, start increasing your savings. Most personal finance experts say your emergency savings should be able to cover three to six months of living expenses.

And don’t stop contributing to your retirement savings or dip into your retirement savings unless it’s truly an emergency—your future self will thank you.

With patience and some baby steps, you'll soon have your finances under control and find yourself resting on a comfortable nest egg.

This article is for informational purposes only. Membership required. SRP is federally insured by NCUA.

Article Credit: CUNA

A calculator, pen, and clock next to a sticky note that reads, "Tax Time!"

The Tax Man Cometh: Quick Tips From BALANCE

posted on

March 1, 2025

Since we all know what the other certainty in life is (death), maybe we shouldn’t be all that upset about the onset of tax season, right? And while it may seem that the tax code gets more complicated every year, the good news is there are also a lot more tools now than ever before to streamline the process of tax preparation and make sure you complete your return correctly. Here are a few quick tax tips to dial down the pain.

Tax Software

You’ve probably heard of Turbo Tax. It’s the market leader in tax prep software, but it’s not the only option. If your adjusted gross income is $84,000 or less, you may qualify for free software to file your federal return. Go to the IRS website’s Free File page to learn more.

Different companies have different eligibility criteria to get the freebie. You’ll be asked to answer a few questions to match you with the right commercial tax software. And remember, not all of the IRS’ partner companies offer free state tax returns, so check those details before proceeding.

IRS Mobile App

Some filers may also qualify for free tax preparation assistance. You can use the IRS mobile app (IRS2GO) to find IRS Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) sites.

You can also use IRS2GO to:

Subscribe to tax tips from the IRS.
Follow the IRS on social media.
Connect to other online tools from the IRS.
Check your refund status.

Report Everything (yes, everything)

Finally, few things will trigger an audit faster than failing to report all of the income that’s been reported to the government under your Social Security number. You’re not likely to forget income noted on the W-2 you get from your employer, but be sure to also include other sources of income throughout the year, like freelance work, unemployment compensation, scholarships, and prize winnings such as gambling and lottery winnings.

This article is for informational purposes only and is not intended to provide tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors for advice. Membership required. SRP is federally insured by NCUA.

Article Credit: BALANCE

A heart-shaped cake on a plate next to text that reads, "Frugal Date Nights."

Frugal Date Nights: Keep Your Partner and Wallet Happy

posted on

February 14, 2025

When you and your partner are focusing on paying down debt, it’s easy to put relationship fun on hold. After all, dining out is a sure-fire way to blow the budget. Expensive vacations? Entirely out of the question! But you can still keep the spark alive with regular frugal date nights.

First, schedule the time on your calendar. Often, busy couples find that if it doesn’t get scheduled, it doesn’t happen. If you have young children, consider coordinating with another family to swap babysitting duties. This way, each set of parents gets an evening out without paying for a babysitter.

Now that you’ve got the date set and the sitter lined up, here are some frugal date ideas so you and your partner can make great memories without spending much money.

Go on a hike

A hike (or a leisurely walk) in a beautiful location is a great way to spend some distraction-free time with your spouse. Enjoy the scenery, get some fresh air, and get your blood pumping. Apps like AllTrails and Hiking Project are good free resources for local hikes.

Play Tourist

If a friend or family member was coming to visit your city, where would you take them? Often, the most impressive or entertaining spots get overlooked by locals. Pretend you’re just visiting the area and hit up some of the top tourist destinations and local landmarks. The local Chamber of Commerce is an excellent resource for inspiration.

Star Gazing

You don’t need a telescope to take your honey stargazing! It’s best to choose a night when you’ll have clear skies and a new moon. Pack up a blanket and some snacks and head out of town to a place with dark skies and little light pollution. Spread out the blanket, look up at the stars, and bask in the awe of a starry sky.

Eat Cake

If you miss going out to restaurants while you’re tightening the budget, you can get that restaurant enjoyment without having a full sit-down meal. Coffee and dessert at your favorite restaurant still feel like a splurge. Who said you can’t have your cake and eat it, too?

Have a Picnic

A picnic doesn’t have to be a fancy (read: expensive) affair. A lunch sack will do just fine if you don’t have a dedicated picnic basket. Cheese, crackers, fruit, and your favorite drinks require almost no prep and taste even better at a local park or wilderness area.

Visit a Farmers Market

You might be amazed at how much is happening at your local farmer’s market! Of course, you’ll find farmers selling their freshly grown produce, but there’s likely also baked goods, meat and eggs, crafts (like handmade candles and soap), and ready-to-eat food. Wandering around the farmer’s market is a great way to spend a few frugal hours. You might even come home with local produce and inspiration to try a new recipe.

Hit up the Yard Sales

If you like the thrill of the hunt, it’s worth getting up early on a Saturday morning and hitting the yard sale circuit. Decide how much money you’re willing to spend ahead of time and bring it in small bills. This helps to ensure you stay within your budget. You never know what you might find at a yard sale—and sometimes you’ll come home empty-handed! Not knowing is all part of the fun.

Gather Fruit

Nearby orchards or berry farms can make for great frugal dates. The “u-pick” fruit farms are typically less expensive and tastier than the comparable fruit at the grocery store, and you get to spend some quality time outside with your partner. Make sure to research the right time to go for ripe fruit and bring some containers from home.

Wrapping it Up

Date nights are so important in relationships. Taking the time to talk without the day-to-day stressors and sharing new experiences help keep the romance alive. These things don’t have to be expensive. Keep your budget on track with frugal date nights and watch your relationship and savings account grow.

This article is for informational purposes only. Membership required. SRP is federally insured by NCUA. Article Credit: BALANCE

Ribbon-cutting of the SRP Federal Credit Union Boardroom at the J.A. Discovery Center

SRP Federal Credit Union Unveils Branded Boardroom at JA Discovery Center

posted on

February 11, 2025

Evans, GA – SRP Federal Credit Union and Junior Achievement (JA) Discovery Center of the CSRA celebrated the unveiling of the newly branded SRP Federal Credit Union Boardroom with a ribbon-cutting ceremony on January 31, 2025.

Located inside the JA Discovery Center on River Watch Parkway in Evans, GA, the boardroom will serve as a dedicated meeting space for JA and its corporate sponsors, further enhancing the center’s mission of financial literacy and career readiness for students.

The newly branded space features a striking wall dedicated to SRP’s High School Affinity Debit Card program, alongside a detailed timeline showcasing the credit union’s rich history.

SRP Federal Credit Union has been a proud founding partner of the JA Discovery Center of the CSRA since its opening in 2023.

The center provides hands-on financial education to students from the Columbia County School District and the Richmond County School System through interactive programs like JA Finance Park and JA BizTown. These simulations immerse students in a real-world economy, helping them develop essential skills in personal finance, entrepreneurship, and career planning.

Community Impact

Grace Helms, Assistant Vice President of Marketing, Communications, and Community Development at SRP Federal Credit Union, emphasized SRP’s ongoing commitment to financial education and community support.

“Junior Achievement's mission to provide financial education to young people aligns perfectly with our dedication to equipping individuals of all ages with essential financial skills,” said Helms. “By working together, we are helping to empower the next generation with the knowledge they need to build strong, financially sustainable futures.”

SRP Federal Credit Union remains committed to supporting Junior Achievement, with numerous SRP team members actively participating as past and present instructors in JA programs.

Laney Mize, Director of Development for Greater Augusta at Junior Achievement of Georgia said, “SRP has been a huge supporter of Junior Achievement through providing employee volunteers and funding.”

“SRP influences and educates students, but also adult visitors as well,” said Mize. “The SRP Boardroom is a place where JA Partners can hold meetings and also learn the impressive history and culture of what SRP Federal Credit Union has to offer to the CSRA.”

Tag: financial education

USCA and SRP Federal Credit Union Unveil New Pacer $mart Classroom