Banks Rack Up Big Overdraft Fees Each Year…Are you helping them?

chamber_savingsLast night’s NBC Nightly News reported that overdraft fees make up a staggering 60 percent of all bank fee revenue, amounting to $32 billion a year. The average consumer who paid overdraft fees paid $225 over the course of the year in 2011.


Take a look at the report filed by NBC’s Tom Costello: http://www.nbcnews.com/video/nightly-news/52173777/#52173777


Are you one of the average consumers providing banks part of this profit? If so, it may be time to review your budget or create on if you don’t have one already. The closer you track your personal finances, the less likely you will pay overdraft fees.

Need help? Set-up a personal financial budget appointment with us to build/or go over your budget. You can also download our spreadsheet and create your own budget.

Keep in mind that you can also attend one of our financial classes and educate yourself more on credit and personal finance. Our next Credit When Credit is Due Course is on August 1st at 9 AM. Call 385-4663 to register.

Take care of small financial issues early before they grow out of control and cost you more money and possibly your clearance or job!

Air Force restarts tuition assistance

by  Staff Sgt. David Salanitri, Secretary of the Air Force Public Affairs

Air Force Week kicks off in New York City4/10/2013 – WASHINGTON (AFNS) — The Air Force has officially restarted military tuition assistance, effective immediately.

The service restarted the program as a result of the Consolidated and Further Continuing Appropriations Act of 2013, where Congress called for the MTA program to continue in the current fiscal year.

As a result of the restart, the program will resume the same benefits as before. Airmen are eligible for up to $4,500 per fiscal year and a maximum of $250 per semester hour or quarter hour equivalent to cover tuition and allowable fees. Military tuition assistance is not available retroactively to cover courses taken and paid for using any other funding source during the suspension of military tuition assistance.

Read the full story on the http://www.af.mil: Air Force restarts tuition assistance.

The Ellsworth AFB Education Center is the POC for any questions regarding tuition assistance, GI Bill, or education related questions.

USAF Announces Suspension of Tuition Assistance for Active Duty

In an email sent from the Chief Master Sergeant of the Air Force on Tuesday, March 12th, the Chief announced that due to the “effects of continuing resolution and sequestration” the Air Force has made “the decision to suspend military Tuition Assistance (TA) for the remainder of this fiscal year.”

“Effective 1700 EST, 11 March, Active Duty Airmen will no longer be able to submit requests for Tuition Assistance.” He continues to say that they are looking at the impacts for FY2014 and “will do their best” to reinstate Tuition Assistance.

The full email can be read below:

Fellow Airmen,

As you know, our Nation and our Air Force are working through some significant fiscal challenges. The combined effects of continuing resolution and sequestration are forcing some very tough decisions. Unfortunately we’ll likely be forced to furlough nearly 180,000 civilian Airmen for 16 hours per pay period for the remainder of the fiscal year starting in April. This is one of many impacts on your units and our Airmen and Families. Given this environment we’ve had to make the decision to suspend military Tuition Assistance (TA) for the remainder of this fiscal year.

Effective 1700 EST, 11 March, Active Duty Airmen will no longer be able to submit requests for Tuition Assistance.

Believe me, this was a tough decision because our Air Force truly values education. This is evidenced by our requirement for a Community College of the Air Force (CCAF) degree for senior rater endorsement (SRE) eligibility.  SRE means a great deal in the promotion of Master Sergeant to Senior Master Sergeant, and this will not change.  We understand suspension of TA benefits makes things tougher, but there are other ways for Airmen to complete CCAF degrees. CLEP exams, the G.I. Bill, scholarships, and federal grants are some options.

We remain as committed as ever to ensuring Airmen have the opportunity and means to pursue educational goals.  We’re still looking at the impacts for FY14 and will do our best to have TA reinstated, although we’ll likely need to review the eligibility requirements to ensure sustainability. We owe you more information on this and will provide details as soon as we can.

Thank you for your service to our Nation.

v/r

jac

JAMES A. CODY
Chief Master Sergeant of the Air Force