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PSFCU: Education is the Key

Daniel Herrera becomes certified financial counselor; offers financial advice to members

Published on Thursday, February 20, 2020 | 11:18 am
 

Daniel Herrera of the Pasadena Service Federal Credit Union (PSFCU) has become the organization’s first certified financial counselor, thus expanding the group’s efforts to educate members on financial literacy and other financial education programs.

As Herrera told Pasadena Now, “I’ve always been interested in financial education, whether it’s learning for myself or teaching it to our members.”

According to Herrera, his new certification will allow him to hold more classes and seminars for members, as well as provide individual financial strategies.

As Herrera explained, he can offer a larger array of counsel now, whether individuals are looking to save or finance a car or home. “The goal is to help members identify their financial goals,” said Herrera, “Then we can create a game plan on how to reach it, whether it’s to get out of debt or to start saving money and invest for their future.”

Continued Herrera, “The need is definitely there in our communities.” Herrera has also begun taking part in the Credit Union’s business development plan, holding financial literacy presentations to members as a benefit of their membership.

“We are actively having financial educational presentations in our local businesses and communities where we show members how to save money, how to get out of debt, and how to better your credit score,” Herrera explained.

Herrera has been with Pasadena Service Federal Credit Union for five years, and has a total of 19 years of banking experience. As Herrera explains, working with a credit union as a member is different from a typical bank.

“Personally, I believe that a credit union is a better option when it comes to banking,” he says. “I always tell people on our presentations that we’re not here to try and sell you anything, we are simply here to educate you on your banking options”.

Credit unions are not like large banks, he explained.

“Banks are owned by stockholders, so their focus is on creating profit to please them,” said Herrera. “Credit Unions are member owned and are not-for-profit so our focus is on giving back to our members.”

Herrera and his fellow credit union employees visit local businesses and explain to them that the Credit Union is there to serve partner’s employees, who may not have a lot of financial experience.

“Not everybody is financially savvy. Unfortunately, high schools and colleges are not teaching about basic finances,” he said.

Herrera emphasizes that his teaching is about offering “simple financial principles to help you out, and better your financial situations. I mean it’s amazing how your financial stability can even be tied in to your health! If you have better financial understanding mind, it can possibly reduce your stress levels which might just give you a healthier lifestyle.”

“We’re here to help our members and their financial needs and make things hopefully better for them,” Herrera added. “That’s how the credit union can help.

As a member-owned financial institution, PSFCU has served the financial needs of Pasadena Unified and surrounding schools since 1936.

Currently the credit union serves the greater San Gabriel Valley and is constantly adding new members, locations, products, and technologies to better serve members.

You can visit Pasadena Service Federal Credit Union headquarters at 670 North Rosemead Boulevard, in Pasadena, or call (877) 297-4707 or visit their website https://www.mypsfcu.org. Focusing in the greater San Gabriel Valley with 4 branches in Covina, Vernon, Pasadena, and John Muir High School Early College Magnet; they’re your community partner. You can also stay in touch with them on Facebook: https://www.facebook.com/mypsfcu Twitter: @PasadenaServFCU Instagram: https://www.instagram.com/mypsfcu/

 

 

 

 

 

 

 

 

 

 

 

 

 

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