No matter where you fall on the scale, we know one thing for sure: life is expensive, and building your savings is hard. According to the National Census, the average annual household income for Lubbock County is below $50,000. After paying for bills, rent/mortgage, childcare, cell phones, food, etc… the average person is likely to have less than $100 per month to spend on anything else. That’s hardly enough for entertainment, emergencies, and saving up for that dream vacation.

At ALLIANCE, we are a team of people just like you. As a not-for-profit financial institution, we are always striving to put money back into the pockets of our members. How? Check out these four ways ALLIANCE works to help save you money to put towards things like an emergency fund, groceries or a night out with your kids:

1. Credit Consolidation

Making multiple high interest credit card payments every month can be overwhelming. By consolidating your credit card debt, you can turn multiple payments into one, easy to manage bill each month. At ALLIANCE, we turn our profits into savings for our members so your interest will likely be lower overall; therefore, saving you money each month while putting you on a path to a better credit score and more financial freedom.

2. Mortgage Refinance

Mortgage interest rates change frequently and may be lower now than when you first financed your home. Refinancing your mortgage to a lower interest rate, or converting a variable rate to a fixed rate, can save you money each month freeing up funds to pay down other higher interest debt. Refinancing is simply converting an old loan into a new loan that better suits your current needs. If you think it might be time to refinance, visit with one of our knowledgeable lenders about how you could put more money in your pocket today.

To learn more about refinancing your mortgage click HERE.

3. Auto Loan Refinance

Refinancing your auto loan could save you hundreds of dollars over the life of your loan and free up money each month to put towards gas, groceries and other necessities. Because ALLIANCE is a not-for-profit financial institution, we are able to put our profits back into the hands of our members through some of the lowest rates on auto loans in the area. Refinancing is quick and easy, giving you wiggle room to pay for the things you need each month.

4. iSave

iSave at ALLIANCE is one of the easiest ways to save. With iSave, every debit card transaction is rounded up to the nearest dollar and deposited directly into your savings. Before you know it, your savings will grow without any extra effort. As an added benefit of membership, if you have a direct deposit of $500 or more each month going into your checking account, you qualify for Performance Checking which gives you a bonus rate on your savings, turning those pennies each day into so much more!

Learn more about Performance Checking HERE.

At ALLIANCE, our mission is to make a difference financially. We know that the average American is living paycheck to paycheck, so our vision is to be the best financial solution. By taking our profits and turning them into savings for our members, it is our sincerest hope that the money you save at ALLIANCE is exactly what you need to make ends meet and save a little too. We, the employees of ALLIANCE, are hard-working American’s just like you. So, if you need some help putting together a budget, or figuring out how to free up an extra $100 so you can build a safety net, drop by a branch or give us a call. We’re here for you, and your family.


The Credit Union Movement
Banzai: Free Financial Education