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UW Credit Union Pilots New Online Debt Analysis Tool

UW Credit Union is proud to announce the addition of a new tool called “Debt in Focus” to uwcu.org. Debt in Focus is a free, anonymous web-based debt education tool to help consumers with budgeting and personal finances. It was created by the Filene Research Institute to help people better understand their current financial situations.

UW Credit Union is among the first group of institutions to pilot Debt in Focus, which will eventually be made available to credit unions across the nation. UW Credit Union members and any interested consumers are encouraged to use Debt in Focus and provide feedback regarding its usability and effectiveness.

“Now more than ever, people are taking a critical look at their finances and spending habits,” said Mike Long, Chief Credit Officer at UW Credit Union. “We are offering this tool free of charge so people can take the first steps toward understanding their own financial situation and the impact debt has on their financial health.”

“Debt in Focus is very user-friendly,” Long continued. “When using Debt in Focus, a user initially inputs information regarding their income and current debt. The user is then provided a summary of their debt total, ratios, and an estimated budget. They are also given a series of action steps specific to their situation that they can take to reduce their debt or put them in a better financial position.”

UW Credit Union has an on-going commitment to helping improve the well being of the community through consumer friendly products and free financial education.

About UW Credit Union:
UW Credit Union is a growing, federally insured financial institution and a leading provider of affordable home loans, education loans, and consumer loans to University of Wisconsin communities. UW Credit Union’s 345 employees serve the financial needs of more than 130,000 members through world-class technology systems, and through a convenient network of 16 branch locations and 80 ATMs. With assets totaling more than $1 billion, UW Credit Union is ranked nationally among the leading credit unions. Founded over 75 years ago by members of the University of Wisconsin community, UW Credit Union continues to operate as a not-for-profit, member-owned financial cooperative with locations in the Madison, Milwaukee, Stevens Point, Green Bay and Whitewater areas. Visit UW Credit Union at uwcu.org to learn more.

About Filene Research Institute:
The Filene Research Institute is 501(c)3 nonprofit think tank dedicated to scientific and thoughtful analysis about issues affecting the future of consumer finance and the $761 billion asset credit union industry. Through Filene, leading scholars and consultants analyze managerial problems, public policy questions, and consumer needs for the benefit of the 90 million members credit unions serve.