Karen Rubin, a single mother of three, reduced her debt by $4,500, increased her savings by more than $30,000 and boosted her credit score from 662 to 758 to win $10,000 in a Florida Commerce Credit Union financial fitness contest.
Seven families participated in the year-long weLiveFIT! challenge. Each family worked closely with FCCU financial coaches who evaluated their financial status, developed a fitness plan to follow and provided additional support throughout the rigorous competition. Each household was eligible for the $10,000 prize based on its progress by the end of the challenge.
With help from her financial coaches, Rubin learned how to create a budget and set achievable financial goals. She paid off several of her credit cards, taught her kids how to start saving and recently got a full-time job with steady income.
Over the challenge's ten-month period, the seven families collectively increased their credit scores by 469 points, increased their savings by more than $72,000 and decreased their debts by approximately $44,869.
"While one of the families here today walked away with a check for $10,000, Florida Commerce has the satisfaction of knowing that this competition also rewarded our community with useful information and real world financial advice," said FCCU CEO Cecilia Homison.