Many high school students have dreamt of getting their first car after earning their driver’s license. UHS News reached out to a Redwood Credit Union spokesperson seeking advice to Wildcats hoping to save their money and purchase their first car.
Wrynn Valentine, Redwood Credit Union’s financial wellness advocate, emphasized the importance of having a financial goal and establishing the mentality for saving up money.
Valentine told us Ukiah High students could utilize Redwood Credit Union to set up their first savings account. Valentine recommended that students hoping to save up money for their first vehicle open an individual savings account. She added if Wildcats lets the bank know why he/she opened this account, the bank will help the individual stay focused and not give up on their goal.
Valentine provided information on how a Wildcat can get a loan from Redwood Credit Union. She characterized the process of getting a loan as very fast and easy. She explained teens do not have a credit score, which requires an adult to co-sign for the loan. The adult must have an acceptable credit score to make sure if the loan is accepted assuring the bank that person will be able to pay the bank back their money.
Financial success is about setting small goals to attain big ones. If any Wildcat is interested in buying their first car or saving money, contact Redwood Credit Union to begin your journey to financial independence.