Baton Rouge Single Mother Wins $10,000 in E Federal Credit Union Financial Makeover Competition
Kristi Smith of Walker, LA, a single mother of 2, made a $34,000 financial swing in the Lose To Win: Financial Edition competition. During the eight-month financial makeover competition, Smith and her family, reduced their debt by $22,000 and increased their savings by $12,000 and increased her credit score by 50 points. Combined, the four competing families made an $80,000 financial swing.
Baton Rouge, LA, November 06, 2009 --(PR.com)-- In early 2009, Kristi Smith, a single mother of two from Walker, LA, was drowning in debt with little savings and little hope. A recent divorce and undisciplined personal spending left her with mounting debt. Smith decided to take a chance at a fresh start by entering a local financial makeover competition sponsored by E Federal Credit Union.
In eight months, with the help of a team of financial coaches, Smith made a dramatic financial turnaround and was named the $10,000 grand prize winner of E Federal Credit Union’s Lose To Win: Financial Edition competition.
She competed with three other families to see who could reduce debt and increase savings by the greatest percentage during the contest that ran from February through September 2009. With the help of her financial coaches, Anna Lafitte of E Federal Credit Union (EFCU) and Valerie Jenkins of Consumer Credit Counseling Services (CCCS), Smith and her two children, Shelby and Kalyn, were named the competition’s winner by losing more than $22,000 in debt and saving over $12,000 in eight months.
“I can't believe we did what we did! The numbers we produced in these 8 months were simply overwhelming. I never in my wildest dreams would have ever imagined being able to eliminate $22,000 in debt while saving $12,000 at the same time, “said Kristi Smith. “Our family has made large strides to getting ourselves out of an ugly financial mess, and we can hold our heads high with pride, knowing we did what had to be done to change our future.”
Throughout the competition, each family met at least monthly with their team of financial coaches, one from EFCU and one from CCCS, to discuss ways to improve their financial situation by reducing their spending habits, increasing their earnings and living more financially sound lives. In addition, the families participated in quarterly financial seminars – open to the public – hosted by E Federal Credit Union.
The families’ journeys were chronicled weekly through online videos and blogs and during television newscasts on local NBC and Fox affiliates.
“Kristi Smith and her family have been incredibly inspirational. Not only to the families in the competition, but the entire Baton Rouge community,” said Ken Bordelon, CEO of E Federal Credit Union.
Bordelon continues, “We are thrilled to have presented this innovative program for the Baton Rouge community. Over the last eight months, the participating families have exceeded our expectations in their dedication and overall level of financial improvement. Our hope is that the success of the four families will inspire others in the community to improve their financial lives as well.”
All of the participating families made significant improvements to their financial outlook:
2nd Place - The Ridings Family of Gonzales, LA, reduced their debt by more than $10,000 and had a saving growth of $8,000.
3rd Place – The Willis Family of Baton Rouge, LA, saw a total debt reduction of more than $9,000 and savings growth of $6,300.
4th Place - The Hall Family of Zachary, LA, lowered their debt load by $9,000 and raised their savings total to nearly $3,000.
Combined, the four families made a financial swing of more than $80,000 in just eight months with the help of E Federal Credit Union and Consumer Credit Counseling Services.
“We are so happy with our accomplishments and know that our success in the competition will be our success in life. We are finally at a point where the day a bill comes in the mail we can pay it right away. Sounds silly but this is a major accomplishment for us. We are proud to say that nothing can stop us now, " said Kevin Ridings, of the Ridings Family, who claimed $5,000 as the second–place winners.
“We have made a 180 degree turn in our financial situation since February; our families and friends are shocked and completely thrilled of our savings and debt reduction over the past 8 months. It feels somewhat as if we’re baby birds being pushed out of the nest – but we are confident we can soar,” stated Claire Willis of the Willis Family, the proud recipients of the third place prize of $2,500.
E Federal Credit Union publically announced the Lose To Win: Financial Edition winner during its 75th Anniversary Celebration Gala held in Baton Rouge which aired during the competition's televised season finale November 1 on the NBC affiliate in Baton Rouge.
While the competing families were unique in their accomplishments, any family can achieve similar results with the right balance of support, advice and knowledge. Members of E Federal Credit Union receive that kind of support every day. For more information on learning how to reduce debt and increase savings, contact E Federal at 225.214.6800.
About E Federal Credit Union
E Federal Credit Union, Louisiana’s seventh largest credit union, is a member-owned, not-for-profit, full-service financial institution. With 11 branches within the greater Baton Rouge area and assets exceeding $250 million, E Federal Credit Union has been offering a full range of superior financial services since 1934.
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In eight months, with the help of a team of financial coaches, Smith made a dramatic financial turnaround and was named the $10,000 grand prize winner of E Federal Credit Union’s Lose To Win: Financial Edition competition.
She competed with three other families to see who could reduce debt and increase savings by the greatest percentage during the contest that ran from February through September 2009. With the help of her financial coaches, Anna Lafitte of E Federal Credit Union (EFCU) and Valerie Jenkins of Consumer Credit Counseling Services (CCCS), Smith and her two children, Shelby and Kalyn, were named the competition’s winner by losing more than $22,000 in debt and saving over $12,000 in eight months.
“I can't believe we did what we did! The numbers we produced in these 8 months were simply overwhelming. I never in my wildest dreams would have ever imagined being able to eliminate $22,000 in debt while saving $12,000 at the same time, “said Kristi Smith. “Our family has made large strides to getting ourselves out of an ugly financial mess, and we can hold our heads high with pride, knowing we did what had to be done to change our future.”
Throughout the competition, each family met at least monthly with their team of financial coaches, one from EFCU and one from CCCS, to discuss ways to improve their financial situation by reducing their spending habits, increasing their earnings and living more financially sound lives. In addition, the families participated in quarterly financial seminars – open to the public – hosted by E Federal Credit Union.
The families’ journeys were chronicled weekly through online videos and blogs and during television newscasts on local NBC and Fox affiliates.
“Kristi Smith and her family have been incredibly inspirational. Not only to the families in the competition, but the entire Baton Rouge community,” said Ken Bordelon, CEO of E Federal Credit Union.
Bordelon continues, “We are thrilled to have presented this innovative program for the Baton Rouge community. Over the last eight months, the participating families have exceeded our expectations in their dedication and overall level of financial improvement. Our hope is that the success of the four families will inspire others in the community to improve their financial lives as well.”
All of the participating families made significant improvements to their financial outlook:
2nd Place - The Ridings Family of Gonzales, LA, reduced their debt by more than $10,000 and had a saving growth of $8,000.
3rd Place – The Willis Family of Baton Rouge, LA, saw a total debt reduction of more than $9,000 and savings growth of $6,300.
4th Place - The Hall Family of Zachary, LA, lowered their debt load by $9,000 and raised their savings total to nearly $3,000.
Combined, the four families made a financial swing of more than $80,000 in just eight months with the help of E Federal Credit Union and Consumer Credit Counseling Services.
“We are so happy with our accomplishments and know that our success in the competition will be our success in life. We are finally at a point where the day a bill comes in the mail we can pay it right away. Sounds silly but this is a major accomplishment for us. We are proud to say that nothing can stop us now, " said Kevin Ridings, of the Ridings Family, who claimed $5,000 as the second–place winners.
“We have made a 180 degree turn in our financial situation since February; our families and friends are shocked and completely thrilled of our savings and debt reduction over the past 8 months. It feels somewhat as if we’re baby birds being pushed out of the nest – but we are confident we can soar,” stated Claire Willis of the Willis Family, the proud recipients of the third place prize of $2,500.
E Federal Credit Union publically announced the Lose To Win: Financial Edition winner during its 75th Anniversary Celebration Gala held in Baton Rouge which aired during the competition's televised season finale November 1 on the NBC affiliate in Baton Rouge.
While the competing families were unique in their accomplishments, any family can achieve similar results with the right balance of support, advice and knowledge. Members of E Federal Credit Union receive that kind of support every day. For more information on learning how to reduce debt and increase savings, contact E Federal at 225.214.6800.
About E Federal Credit Union
E Federal Credit Union, Louisiana’s seventh largest credit union, is a member-owned, not-for-profit, full-service financial institution. With 11 branches within the greater Baton Rouge area and assets exceeding $250 million, E Federal Credit Union has been offering a full range of superior financial services since 1934.
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Contact
E Federal Credit Union
Brandon Kelly
225-215-2755
www.efedcu.org
Brandon Kelly
225-215-2755
www.efedcu.org
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