September is here, and with a new school year underway, there’s plenty happening at Breakwater and throughout our community!
From wrapping up a busy summer of community events to kicking off new financial literacy partnerships and scheduling programming for the school year, we are excited keep the momentum going into the fall season.
Keep reading for a look back at where we’ve been, what we’ve been up to, and what we have planned for the months ahead!
This August, we wrapped up a food and supply drive benefiting the St. Vincent de Paul Food Pantry in Hancock. The two-week drive was organized in response to an increased need for food and everyday essentials at the pantry, which provides support to individuals and families throughout the Copper Country.
Thanks to the generosity of our members, employees, and community members, we were able to deliver three carloads of donations to help restock pantry shelves and support our neighbors in need.
We are beyond grateful to see so many people step up to support the drive and the important work St. Vincent de Paul does in our communities. Every jar of peanut butter, box of pasta, bottle of shampoo, or can of soup added up to make a meaningful difference for local families.
For Breakwater, supporting efforts like this is part of what it means to be a local credit union. It’s all part of a tradition that has shaped Breakwater since 1952: neighbors helping neighbors and strengthening the community we call home.
Supporting our neighbors also means showing up and celebrating alongside them. As a proud sponsor of Pasty Fest, we also love being able to join in the action by setting up along 5th Street and connecting with the hundreds of community members who come out to enjoy the quirky festival each year.
This year, we were excited to bring back our Pasty Wheel and challenge attendees to our Pasty Inflation game. With each spin of the wheel, participants were asked a question about the cost of pasty ingredients in 1898 versus today. This fun game tested everyone’s understanding of pasty economics and made the event one to remember!
Additionally, everyone who stopped by our booth had a chance to cast their vote in one of the biggest pasty debates of all time: ketchup or gravy? Beyond those two classics, we received plenty of creative write-ins, from Yooper chow chow, sour cream, and hot sauce to butter, or simply enjoying a pasty plain. It turns out there are many ways to eat a pasty!
To wrap the summer season up, we joined local businesses and community members for the Keweenaw Chamber of Commerce Golf Outing. It was a beautiful day to get out on the course, enjoy some friendly competition, and connect with familiar faces from around the Copper Country.
We proudly hosted hole 5 again this year, where we had a great time greeting teams as they made their way around the course. At our table, golfers had the opportunity to put their math skills to the test, by estimating how many golf tees were packed into our container. The player with the closest guess went home with a $100 gift certificate to the Portage Lake Golf Course, and several other individuals won special Breakwater golf ball markers through a drawing at the end of the event.
Also, shoutout to the best-dressed team for stopping by our table to say hi and rocking our Breakwater shades. We think they were the perfect finishing touch to an already incredible look!
Summer fun didn’t stop at Pasty Fest! We also had the joy of connecting with new students during one of Michigan Tech’s most popular orientation traditions, Afternoon on the Town.
Each year, the event gives incoming students the chance to explore businesses, organizations, and learn about community resources in the Houghton-Hancock area. This is a great opportunity for students to get to know the community they’ll call home during their time at Michigan Tech. We loved being part of their introduction to the Copper Country and welcomed students with Breakwater sunglasses and drink koozies.
For many students, finding a local banking option becomes essential at some point or another. With three Breakwater ATMs located right on campus, a branch just minutes away, and convenient online and mobile banking options, students who become Breakwater members can easily access and manage their money throughout the school year.
Through our partnership with CU Student Choice, members can also explore student loan and refinancing options designed to help responsibly cover the costs of higher education. Whether students are just beginning college, working toward their degree, or looking ahead to managing existing student loan debt, the program offers options to support them at different stages of their financial journey.
While Afternoon on the Town may be students’ first introduction to Breakwater, we hope it’s just the beginning of a relationship that lasts throughout their time at Michigan Tech and well beyond graduation. We’re proud to welcome new Huskies to the Copper Country and be a local resource they can turn to as they make this community their home.
Less than a week later, we found ourselves on campus again for Michigan Tech’s Local Career Expo, an event designed to connect students with local employers and introduce them to internship opportunities, part-time positions during the school year, and full-time careers they may pursue after graduation.
During the event, we highlighted the wide variety of careers within the financial industry – everything from member-facing roles like tellers and lenders to community-focused positions in marketing and behind-the-scenes opportunities in operations, accounting, human resources, technology, and more.
We had a great time talking with students, learning about their career interests, and sharing current opportunities. The event also gave us another chance to share why Breakwater is such a convenient local banking option for students and highlight the many ways we can support them throughout their college experience. From partnering with student organizations to providing financial literacy opportunities right on campus, we strive to be a local, go-to resource for students as they navigate their finances, education, and future careers.
Financial literacy is a major focus for Breakwater and the greater credit union movement. We believe financial education can play an important role in helping people feel more confident about their finances and make informed decisions throughout their lives. That’s why we work to provide meaningful learning opportunities for community members of all ages, backgrounds, and life stages.
This year, we are expanding our financial literacy efforts even further by building new relationships with local educators, partnering with community organizations and student groups at Michigan Tech, and by investing in new educational resources that we are excited to share with our community.
We’re always excited to build new partnerships and find creative ways to make financial education more accessible. If your school, organization, workplace, or community group is interested in collaborating on a financial literacy workshop, event, or other learning opportunity this year, we encourage you to reach out! Together, we can create programming that meets the unique needs of your audience and helps bring meaningful financial education to even more people throughout the Copper Country.
Want to see what we can offer? Take a look at some of the financial education programming we can provide here: Financial Education Programs – Breakwater Federal Credit Union.
One of our newest partnerships began when the Muslim Student Association at Michigan Tech inquired about developing a workshop series designed to help international students and their families manage their finances in the United States.
The first workshop of the series was held on September 3rd and focused on the basics of navigating financial life in the United States. Attendees learned about common banking terms, the differences between banks and credit unions, different types of accounts and what information is needed to open them, and how to use a variety of financial products and services. The workshop also gave attendees an opportunity to ask questions and become more familiar with financial tools they may encounter while living and studying in the U.S.
Understanding credit is an important part of personal finance, and our next workshop will break it down into practical, easy-to-understand information attendees can put to use. The workshop will cover everything from establishing and building credit to understanding credit scores and credit reports, what can impact them, and how to compare and responsibly use different credit cards. Our goal is to help attendees build and maintain healthy credit habits from the start, while also providing practical tips for improving or rebuilding a less-than-ideal score. This workshop is scheduled for Thursday, October 8th at 5PM and is open to all students at Michigan Tech.
Workshops in this series will take place once a month, with future topics including budgeting strategies and practical ways to make your money go further, recognizing and protecting yourself from fraud, scams, and schemes, and understanding how loans can be used to finance major life purchases. Each workshop will include handouts to accompany the lesson, giving attendees practical resources they can take home and reference later. We will also have activities available for children who accompany their parents to the workshops, making it easier for students with families to participate and take advantage of these learning opportunities.
Financial education isn’t just something we bring into classrooms and workshops. It’s something we can all put into practice in our everyday lives. With the holiday season approaching, now is a great time to put a little planning into action and get ahead of seasonal expenses.
The holiday season may still feel far away, but now is the perfect time to start planning ahead for any extra expenses you may face. From gifts and travel to increased grocery bills, holiday gatherings, decorations, and seasonal activities, the cost of celebrating can add up quickly.
Getting an early start can help make those expenses feel much more manageable come November and December. Begin by thinking about what your holiday season typically looks like and make a list of the expenses you expect. Don’t forget about smaller costs that can be easy to overlook, such as wrapping supplies, shipping, stocking stuffers, gift exchanges, and extra trips to the store. Then set a realistic spending limit for each category and determine how much you can comfortably set aside between now and the holidays. This will give you a holiday budget to work from, helping you plan your spending ahead of time, keep track of where your money is going, and avoid getting caught off guard by seasonal expenses.
Next, look at your regular budget and determine what you can realistically afford to set aside for the holidays. Your everyday expenses and existing financial goals should come first. After accounting for bills, necessities, savings goals, and other financial commitments, decide how much of what remains you can comfortably dedicate to holiday spending. If needed, adjust your holiday budget to fit that amount rather than stretching your everyday budget.
One way to make saving easier is to keep your holiday money separate from the funds you use for everyday expenses. Consider opening a side savings account specifically for your holiday fund and contribute a set amount each payday based on the expenses you estimated in your holiday budget. Breaking your overall goal into smaller contributions can make saving feel more manageable and help ensure the money is there when you’re ready to start shopping.
Try this simple calculation: Take your total holiday budget and divide it by the number of paychecks you have left before you plan to start spending. For example, if your holiday budget is $600 and you have six paychecks to save, setting aside $100 per paycheck will get you to your goal.
Starting early will also give you more time to shop strategically. Make a list of what you plan to purchase and start watching prices before major sale events like Black Friday and Cyber Monday. A sale can be a great opportunity to stretch your holiday budget further, but only if you were already planning to make the purchase.
Most importantly, remember that your holiday plans should fit within your financial means. The holidays are meant to be enjoyed with family and friends, and sticking to a budget can help you celebrate without carrying unnecessary financial stress into the new year.
So, as we settle into fall and brace ourselves for the colder weather ahead, we’re looking forward to another busy season at Breakwater. There’s plenty more to come, and we can’t wait to continue connecting with our members and community along the way.
Stay warm, enjoy the fall colors while they last, and we’ll see you around the Copper Country!
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