A new way to manage your money!

Now Available! — The NEW Personal Financial Management (PFM) tool has been integrated into Catalyst Credit Union’s Online Banking!  Not banking online yet?  Visit your branch to sign up today!

With the Personal Financial Management tool, Catalyst Credit Union hopes to better support our members financial needs. By providing a more complete picture of your finances, you can be confident in making more informed decisions about where, when, and how you spend your money.

With the introduction of PFM, there will be changes to the look and functionality of Online and Mobile Banking.

You can now perform the following functions:

  • Categorize transactions – Your last 5 months of transactions will be grouped into spending categories and graphed at the top of the Accounts Summary Page. You can also manually change or exclude transaction categories.
  • Create budgets based on spending habits – A budget based on the last 5 months of transactions will be available. New graphs, tables, drop-downs, and other visuals are generated by the budgeting and spending tools. You can manually adjust the budget created for you.
  • Display information from accounts held at other financial institutions – See all of your accounts in one place by linking accounts you hold at other financial institutions. For each account you link, you must provide consent before the link can be established. The consent form will pop up in a new window when you go through the process of linking new accounts.
  • Create account “groups” – Transactions’ history and spending analysis for related accounts can be viewed together.
  • Add assets and liabilities – Manually add assets and liabilities that may not show up in dollar value from a financial institution (e.g. car, home, or even money under the mattress) so you can see a more complete picture of your finances.
  • View spending and trends from anywhere, using mobile web and mobile app features.

When first logging into Online Banking, you will be required to accept and renew the member account agreements to access the main Online Banking page. The initial screen will provide an overview of all the key areas of PFM – including creating budgets, custom categorization and groupings of your spending, tracking spending, and linking all of your financial accounts.

All members will have access to PFM through their online banking. You may opt to not use the PFM features by minimizing these content boxes, which makes the format look similar to what you have used in the past. These preferences will be saved for future logins and PFM features will remain minimized, however the PFM capabilities are fully integrated into the online banking platform and cannot be removed.

PFM Frequently Asked Questions:

Is my banking and personal information safe?

Keeping your financial information safe and secure is very important to us. Our online services offer you the best security currently available in a commercial environment so that your personal and financial information is protected.

Is there a cost for this service?

No. This is a free service to help you track your spending and feel more confident about the financial decisions you make.

Are my past transactions already categorized?

Yes. We’ve already categorized your past 5 months of transactions, and created a default budget based on those transactions, so you can start tracking your spending right away. You can also change the names of those categorizes and create sub-categories to suit your needs.

Can I still do online banking?

Absolutely. You can still do all of your online banking activities, whether you’re online, in branch, or mobile.

 

Catalyst Credit Union’s Online Banking brings all your accounts and financial information into one place, and offers new budgeting and spending tools to help you stay on top of your finances. This enables you, our members, to better understand where your money is going and more effectively plan your spending to better align with your financial goals.

If you have questions about the Personal Financial Management tool or to sign up for online banking, please contact your branch.

 

© Copyright Catalyst Credit Union - 2014