Now Available
We are putting a new spin on our annual college scholarship contest. For the first time, we are inviting high school and college student applicants to submit a video!
To apply, create a video answering the question: What will I do with the $2,500 scholarship? Videos can only be submitted via Direct Message on LAFCU's Instagram page (our name is "LAFCU"), and must be submitted from 1/1/24 to 4/15/24.
A maximum of 4 scholarships for $2,500 each will be awarded for a total of $10,000. You must be a LAFCU member to apply. Applications and all related documents must be submitted online from our website. We will NOT accept submissions via email, U.S. Mail or in-person at a branch.
Financial Role
Planning your career is a time-consuming process that begins in high school and extends into college or trade school. It is vital to consider how your career plan aligns with your long-term financial goals and overall vision for your life. Here are five key factors to consider in your career plan that can have a significant impact on your financial plan.
Income Potential: Look beyond the starting salary and consider the potential for salary growth throughout your career. Research opportunities for promotions and advancements, as well as any potential salary plateaus. Additionally, evaluate whether your skills can be transferred to different career paths if desired. Understanding the expected trajectory of your income can help you make informed decisions about your financial future.
Benefits and Perks: Take advantage of employer-sponsored benefits to improve your financial situation. Look for retirement plans like 401(k)s or 403(b)s that allow you to save pre-tax money for retirement. Consider if your employer offers health insurance, disability insurance, or workers' compensation. Explore other tax-advantaged benefits, such as Health Savings Accounts (HSAs) or Flexible Saving Accounts (FSAs). Additionally, inquire about investment opportunities like stock options that may have tax implications.
