The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

The Number 15 Might Be More Significant Than You Think!

On January 19th, 2010, posted in: Uncategorized by

15 is just a number.  It doesn’t have much significance over any other number.  15 may even be considered dull compared to numbers that have significance.

When I think of the great numbers, I think of the ones that stand out.  1 is a great number; everyone wants to be number one. Ozzie Smith was #1.  16 is a great number – it’s when you can drive.  21 is pretty cool.  It usually means an awesome party.  But 15 – it is just kind of there; totally insignificant unless you think of April 15th (when taxes are due) and then it conjures up a lot of negative thoughts.

But at St. Louis Community Credit Union, we’ve been pressing forward to take 15 from the nothing world of just being another number to one of the best numbers foremost in the consumer’s mind. Yep, 15 (as in dollars) is about to be renowned as one of the best, most economical numbers in the St. Louis region – right up there with the current local favorite of 6.  You know, if the Cardinals score 6 runs, we all get 25 cent drinks at the local gas station.  That’s some economic stimulus worth noting.  Go Cardinals, go!!!  As the ad pitchman says: “6 is a serious number.”

$15 is all St. Louis Community Credit Union charges for an “insufficient funds” check.  That’s official speak for a “bounced check.”  That same $15 is all that is charged if a member activates their overdraft protection through a debit card transaction or a written check.  Compared to the average of other financial institutions, that’s just about half as much. See I told you – $15 just increased in popularity.

Now, we’re not big on you bouncing checks or using overdraft protection.  St. Louis Community Credit Union would much rather you balance your checkbook, keep track of your transactions, and live within your means.  In fact, we provide free debt counseling services to you, free financial education seminars and free credit counseling – all with improving your money management skills foremost in our mind.

Most folks don’t bounce checks; maybe never.  But “stuff” happens, and isn’t it nice to know that we’ve got your back – at only $15? Seriously, the national average cost for overdraft protection for the first item is $29.58.  That’s a $14.58 cent savings to the consumer.  That’s economic stimulus.

$14.58 saved equates to just under six gallons of gas.  $14.58 saved equates to almost three $5 foot-longs at Subway.  So what’s that, about 2 ft. 7 inches of sandwich?  $14.58 is a couple of Netflix.  $14.58 is a couple of on-demand movies and some popcorn.  $14.58 is more pizza (it doesn’t matter how much – any amount of pizza is good).  $14.58 is a whole bunch of texting.  $14.58 is a couple of Starbucks – and throw in a blueberry muffin.

Yeah, don’t bounce a check.  And for the sake of your long-term financial well-being, get off the overdraft elixir.  But seriously, if you screw up, isn’t it better to have your checking account with us than those guys who charge twice as much?  Maybe 15 is a serious number after all!

No Responses to “The Number 15 Might Be More Significant Than You Think!”

Leave a Reply