Make It Make Cents

What does it take to spend over 40 years in the credit union movement and still get excited about making a difference? Today we find out with someone who has done just that—Denise Wymore, a true credit union lifer.

Denise started as a teller and has become one of the most vocal advocates for small credit unions and financial inclusion. As the Marketing Manager for Small Credit Union Initiatives at Zest AI and President of the De Novo CU Collective, Denise has spent her career advocating for the smaller institutions and making sure they survive in a changing financial world. With awards like being named a CU Times Woman to Watch and inducted into the HERstory Hall of Fame, Denise brings not only expertise but a passion for the credit union philosophy of “people helping people.”

We have a wonderful conversation about the importance of small credit unions in our communities and how technology and grassroots efforts can help preserve their value. We also covered setting and tracking financial goals, paying yourself first, short and long term savings and budgeting for emergencies, travel and homeownership.

Denise shared about the emotional side of money and spending. We talk about buy-now pay-later and too many subscriptions. Denise encourages young people to start saving early, especially through 401(k)s. She also talked about financial literacy education, practical money management tips and shared her personal journey in the credit union industry, how she saves and how her husband has influenced her financial decisions. You won’t want to miss this!

Episode Highlights:

[01:57] According to Denise, starting as a teller is her superpower. It was one of the most valuable experiences ever.

[03:39] Setting realistic financial goals for the new year. With technology, it's very easy to get a snapshot of our yearly spending. This creates an easy option to review our prior year.

[07:18] Denise shares strategies for staying motivated and tracking financial progress towards goals including paying yourself first in an account you don't easily see.

[13:38] Balancing long term and short term goals. Advice includes be aware of hidden spending like unused subscriptions.

[21:03] Mindset and financial roles and how to shift your thinking. Being aware of the emotion behind money, earning, and spending.

[31:48] We talk about buy now pay later options including studies that show it encourages overspending.

[33:54] Denise shares a rewarding financial goal she has achieved. We discuss retirement and how employer 401k matches are easy money. She is now putting in her max catch up amount.  

[36:39] Stop saying retirement to young people and phrase it as a super smart way to save money.

[38:28] If goals are met at Acclaim, they make a discretionary deposit in your 401k.

[39:47] How in a snap of a finger, you can go from the youngest person in the workforce to the oldest.

[41:47] We learn who has influenced Denise as far as financial and other goal setting.

[42:50] Denise talks about her husband's great financial habits and benefits of keeping your money separate.

[47:32] The objective of this podcast is if we can help change someone's life.

Resources & Links:

●    Acclaim Federal Credit Union

●    Denise Wymore

●    Denise Wymore - LinkedIn

●    Zest AI

●    Tattoos: The Ultimate Proof Of A Successful Brand

●    The 2020 Vision of Marketing: A Focus on Purpose

Welcome to the first episode of Make It Make Cents, a podcast powered by Acclaim Federal Credit Union that breaks down the sometimes complex world of financial literacy into practical, easy-to-understand ideas. I'm your host Christie Smith, and I'm delighted to have you join us for our inaugural episode. Whether you're just getting started or looking to improve your financial skills, we're here to help you connect to financial wellness one episode at a time.  

Today's episode features Scott Baxter, President and CEO of Kontoor Brands—the company behind iconic clothing brands like Wrangler and Lee. Kontoor has a long-standing connection with Acclaim Federal Credit Union, united by our shared goal of empowering communities through financial education. Together, we’ll explore why financial literacy matters, especially for young adults, and how mastering essential skills like budgeting, managing debt, and making smart investments can shape a brighter financial future. 

Scott shares personal insights from his experience, such as how he learned to manage debt and maintain discipline throughout difficult times like the 2008 crisis. We also talk about the relationship between financial well-being and mental health, the importance of delaying pleasure, and practical tips for making better financial decisions. This talk is jam-packed with wisdom and actionable advice.

Episode Highlights: 

[02:33] Acclaim and Kontoor Brands have a great history together. We are thrilled to dive into financial literacy. 

[03:08] Bad decisions can have a snowball effect. It's important to take some courses in financial literacy in college.

[04:03] It's crucial to build a budget and avoid or eliminate debt. Debt can be an albatross.

[05:08] When young people are financially literate, it gives them options.

[06:21] Finances can be one of the biggest stressors in life. This is why we focus on financial wellness.

[07:17] Scott shares the importance of using cash and not carrying debt. Paying off debt gives you options for everything you want to do in the future.

[08:50] Scott shares personal stories that affect how he handles finances today. Out of school, he hunkered down and paid off his debt. He also started learning everything he could about finances.

[09:45] The crash in 2007 and 2008 was very eye-opening.

[11:48] It's a good idea to keep some cash on hand and have available liquidity.

[12:27] Kontoor has been innovative with financial literacy. 

[13:12] Ways to increase financial knowledge include taking classes, talking with people, reading magazines, and watching shows about finances. Knowledge will help you understand how investments work. 

[15:00] Scott talks about the myth of being too far in debt. Buckle down, change the way you're doing things, and make better decisions. Write down your plan and your goal and follow it.

[16:02] Acclaim teaches financial literacy for different nonprofits and organizations. Write it down, track your expenses, and watch out for subscriptions.

[17:03] Scott's best mentor is his wife. 

Resources & Links: 

• Acclaim Federal Credit Union
• Kontoor Brands
• Scott Baxter - Kontoor Brands
• Scott Baxter - LinkedIn