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Welcome to the Financial Wellness Center

New resources each week for the Spectra Credit Union community.

This Week

Home Renovation and Improvement

If you own your home, it's likely to be your biggest investment. So how do you determine whether or not to invest more?
Explore Articles

Featured Topics

Explore topics and videos from the Spectra Credit Union team.

Tools and Resources

Try our calculators, assessments and data tools.

Financial Wellness
Compare your financial health with a national sample.

College Explorer
Details on thousands of insitiutions across the country.

Mortgage Calculator
Quickly estimate monthly payments and total cost.

Identity Theft Prevention
How well do you protect your financial identity?

Financial Wellness Courses

Make real progress in less than an hour.

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Identity Theft

14 minutes

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An overview of identity theft, including strategies for preventing it and what to do if it happens to you.

  • Identity Theft
    Understanding ID theft and how to prevent it.
  • Avoiding Identity Theft
    The three Ds of identity protection: Deter, Detect and Defend.
  • Protecting Your Digital Information
    There are many data backup solutions available designed to protect personal information that vary in their security and ease of use.
  • Dealing with Identity Theft
    Understanding the different types of identity theft and what to do in each scenario.
Dad tossing baby in air.

Having a Baby

26 minutes

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A look at the financial challenges of raising a child.

  • Introduction
    Having a baby is not just a family decision, it's a financial decision too.
  • Babies and Budgets
    How to get your finances in shape before a baby arrives, including a budget review, paying down debt, making sure you're getting the best on any long-term debt, and creating an emergency fund.
  • Paying for the Baby Years
    The non-childcare costs you can expect when having a baby, from cribs to health insurance.
  • Managing Risks
    Life is filled with unexpected events. Learn how to ensure the financial security of your child in the worst case scenario.
  • Children and Taxes
    A review of the tax benefits that can help you manage the expenses incurred with children.
  • Childcare Choices
    An overview of different childcare choices and the financial implications of each.
  • Growing Up - Childhood and Beyond
    A look at the additional costs of raising a child beyond the first few years including the indirect costs.
Coach Writing Play on Chalkboard

Budget Basics

29 minutes

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From setting goals to paying off loans, the basics of effective budget management.

  • Setting Goals
    Setting financial goals offers the chance to step back from everyday pressures, allowing us to think about how we’d like to be rather than as how we are.
  • Debt and the Pressure to Spend
    It’s wonderful to have the freedom to buy so many products, but unless you’re rich, the key to happy spending is planned spending.
  • Nudging Yourself Toward Your Goals
    No matter what your financial goal, it's important to have an accountability system in place.
  • Introduction to Budgeting
    Why budgeting is important, no matter how much money you earn.
  • Income and Expenses
    A big part of budgeting is identifying income and listing expenses.
  • Making Sense of Your Budget
    After you've identified your income and tracked your spending, it's time to compare the numbers, gain perspective, set priorities, and make changes.
  • Tracking Your Spending
    Tracking your money can be a powerful way to spot unplanned spending.
  • How to Improve Cash Flow
    Cash flow is a key indicator of your financial health.
  • Money Saving Ideas
    Looking for ideas for ways to save money? Almost everyone can find a way to save using at least one of these tips.
Arrow going upward over increase amounts of stacked bills.

Saving and Investing

26 minutes

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Why and how to invest, including how to save money now.

  • Saving and Investing
    The difference between investing and saving, and how to tell what's the best option for your needs.
  • Types of Investments
    The pros and cons of stocks, bonds, and cash. The concept of asset allocation is explained.
  • Investment Accounts
    The types of accounts available to investors, including both taxable and tax advantaged accounts.
  • Saving for Retirement
    Why save for retirement and the impact of fees on investment performance.
  • Retirement Saving Strategies
    How to develop a comprehensive retirement savings strategy.
  • Retirement Accounts
    An overview of the major retirement accounts, include Individual Retirement Accounts, Simplified Employee Pensions, and 401(k) plans.
  • Retirement Savings Ideas
    A few simple things to keep in mind when starting a retirement savings plan.
  • Individual Development Accounts
    Understanding the benefits of IDAs, how to qualify, and where to find a program.

About Spectra Credit Union

Spectra is the financial partner you can trust. Founded in 1946 to serve the Naval Research Lab, Spectra is now a strong $500 million financial institution serving a wide field of members. We focus on delivering innovative service-oriented solutions that enable our members to live financially strong lives.

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