Are You Prepared for Unexpected Financial Surprises?

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Be prepared for unexpected and expected expenses.

Recently, one of my trees fell in my yard. To answer that age old question, according to my neighbor, it did make a noise. So what does this have to do with anything financial? Well, there is an immediacy to take care of the fallen tree….I have to have it removed. And while I am at it, I might as well consider taking care of some of the other tree related items around my house.

I found it amazing that I can look up an estimate for the cost of tree removal online. The real cost depends on different factors; size of the tree, closeness to houses, power lines, etc. After some research, I have a general estimate of the cost and a local company that I believe I can trust because of their reputation and their reviews. So what do I do? I contact the company, arrange to have the tree removed and request an estimate on the other tree related tasks that need to be done.

Here is where the financial part comes in: I have to pay for this.

This is a situation that requires immediate attention. Do I have the emergency savings to handle an expense like this? If not where can I get the money to take care of my house and yard? I can’t have trees falling all over. This time it caused no damage but I might not be so lucky the next time.

We all need to be prepared for unexpected and expected demands on our financial resources. Primary to this is to start a savings account. It doesn’t have to be a lot, but contributions should be a regular occurrence. Dane County Credit Union has excellent savings accounts that encourage you to build up funds to be used in these types of situations. There is also our Holiday Savings account to encourage members to put away a little something each month to prepare for the expected holiday expenses for this time of year.

If something comes up before you have the chance to build up a savings, you can always borrow. We offer many types of loans for emergencies including unsecured and home equity. Remember too that in an emergency where funds are immediately needed, our checking accounts often have an Overdraft Privilege limit that allows access to funds that are not on deposit in your accounts.

We are here to assist you, whatever that takes. We are a local, trustworthy, Madison credit union ready to talk with you whenever you need to discuss how to handle that tree falling in your yard or anything else that surprisingly comes along.

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Published by

Jon L.

At the time of his unexpected passing in 2018, Jon had been part of the credit union industry for over 30 years as a regulator and credit union professional. He joined DCCU in 1996 and served as its President since 2005.