Credit Unions address sequestration issues proactively

What would it be like to lose 20 percent or more of your household income? What decisions would you need to make? What resources are available to help you make those decisions? These are questions that roughly 16,000 local Department of Defense civilian employees, contractors, their families, and other members of the community could be facing this year as leaders wrestle with how to meet mandated budget cuts due to sequestration. The CEOs of Connection Credit Union, Kitsap Credit Union and Peninsula Community Federal Credit Union gathered to discuss collaborative, proactive steps that would help their respective members (customers) and the community prepare. The first step is a free community event called Surviving Sequestration: A Community Town Hall, planned for March 26 in the Presidents Hall at the Kitsap County Fairgrounds. Doors open at 5 p.m. with a presentation to start at 6. The event will feature speakers and a resource fair to provide attendees help addressing a variety of financial, physical and emotional needs during times of financial change. The public, including workers as well as any other affected parties, is invited to attend. The main message of this event is that credit unions are here to help. They want to work with their members and community to be proactive in thinking through their household financial scenario as it may be impacted by this particular situation.