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Summit Credit Union Announces Teams For 13th Season Of Project Money

June 15, 2021 Annual financial education competition promotes saving and debt reduction, encourages communityMADISON, Wis.— Summit Credit Union has launched the 13th season of its Project Money competition with the announcement of its 2021 participants. Four teams were selected from hundreds of applicants to participate in this year’s program, where they will compete to reduce debt and increase savings on the way to achieving their financial goals.“Every year, we’re so proud to see our Project Money participants take action to improve their financial wellness,” said Summit Credit Union CEO & President Kim Sponem. “Past teams have collectively saved nearly half a million dollars and reduced their debts by even more than that, but they aren’t the only ones who can benefit. Thousands of others follow along with the competition on WKOW-TV, Summit’s Money Smarts blog and social media for real-life examples of actions they can take to improve their own financial lives.” With the help of a dedicated Summit financial coach, each team will learn strategies to improve their spending and saving habits and reach their goals. At the end of the competition, the team earning the most points for overall increase in savings, debt reduction and participation in program events will take home a $10,000 cash prize. All runners-up will also receive a $2,500 prize.The 2021 Project Money Teams are:
  • Team Katie: A single mother of four, Katie is motivated to increase her financial knowledge so she can establish a sustainable budget and start building her savings.
  • Team Eric and Kelly: This active family is inspired to develop better spending habits and pay off credit card debt so they can plan for bigger expenses on the horizon, like college and retirement.
  • Team Jasmine: With three kids and two jobs, Jasmine is eager to build a stronger financial foundation so she can tackle unexpected expenses and buy her first home.
  • Team Mary and Josh: With their three kids all now in school, this busy family is ready to strike a balance between saving and spending so they can reduce financial stress and feel more freedom.
Starting in mid-June and throughout the seven-month season, each team will share updates on their progress with the greater community through Summit’s Money Smarts blog and on its Facebook and Twitter pages. Throughout the program, teams will appear on WKOW to discuss their challenges, wins and motivations.Over the first 12 seasons, Project Money participants have collectively increased savings by $499,734 while reducing debt by $522,043.To learn more about Project Money and this year’s participants, visit . You might also be interested in Summit Credit Union named Top Workplace in Madison, Milwaukee, and U.S., recognized for strong culture, engagement, and employee benefits... Summit Credit Union helps Wisconsin families achieve homeownership with up to $10K in down payment assistance... Summit Credit Union’s President and CEO Kim Sponem was recently featured on the Women of Community Banking podcast... Summit welcomed thousands of members and their families to Warner Park for its annual Summit Fest, blending its official Annual Meeting of the Membership... Summit Credit Union names Mike McCoy Chief Commercial Officer to advance commercial banking and support Wisconsin businesses... With $87 million in member benefits, Summit Credit Union remains the nation’s #1 credit union for Return of the Member... Summit Credit Union partners with LOVB Madison Volleyball to empower women athletes and advance equity in sports and finance... Kim Sponem calls for equitable pay practices, warning that lifetime pay gaps leave women at greater risk of retirement insecurity... Summit Credit Union earns the #1 national Return of the Member ranking again, highlighting its strong member value and financial impact...