PENSACOLA, Fla.–Pen Air Federal Credit Union (Pen Air) has awarded the Wooton family $5,000 as the winner of its 2021 NOW Program.
Pen Air’s NOW Program is designed to guide three teams toward a better understanding of their income, expenses and how to foster healthier spending habits.
“We learned a lot over the last seven months, about our spending habits and about planning for the future. We’re looking forward to taking that with us and applying it moving forward,” said Tammy Wooton. The CU said Wesley and Tammy focused on setting goals for retirement and building a foundation of healthy money habits for their children. “If we had one tip for the 2022 teams, it would be to focus on your savings. Always give something, steadily increasing your savings and then paying yourself back when you need to access those funds.”
Teams were paired with a certified Pen Air Financial Counselor, who provided a personalized game plan and resources to help each family pay off debt and plan for a financially stable future. On average, the 2021 NOW Teams increased their savings by $14,000 and decreased their debt by $8,000.
“Working with the Wooton’s for this year’s NOW program was truly a life changing experience, for all of us. Together, we refinanced one of their vehicles, opened an IRA and created a budget to maximize every dollar,” said Katelyn Martorana, Pen Air Certified Credit Union Financial Counselor and Learning & Development Specialist for Pen Air. “From the very beginning, the Wooton’s prioritized their retirement fund and setting themselves up for the future. While they faced some obstacles along the way, they never faulted in their dedication and commitment to the program.”