Contact Us Español
Nymeo Federal Credit Union Go to main content
Importance of Emergency Funding February 6, 2024

Life is Crazy

You never know what’s going to happen. Having money in an emergency fund is designed to protect you from unforeseen problems. An emergency fund is an insurance policy that alleviates financial burden in times of emergency. If you need to pay for car repairs, medical emergencies, or if an HVAC unit breaks down, with an emergency fund you are prepared for all of it.

expenses icon

What is an Emergency Fund?

An emergency fund is a savings account with the sole purpose of having money in case of emergencies. This amount usually covers six months’ worth of expenses.

How to Start an Emergency Fund

You can start an emergency fund with any amount of money! Emergency funds should always be easy to access, which is why most emergency funds are in saving accounts. Savings Accounts - Nymeo Federal Credit Union.

peace icon

Peace of Mind

Emergency funds provide peace of mind. Stability is never a bad thing. Knowing that no matter what life throws at you, you will be financially secure, is a great feeling!

Luck favors the prepared, so why not apply that to your finances? Build up your emergency fund to brave any storm that life can throw at you.

  • Share:

Category: Financial Literacy & Safety

« Return to "Tutorial Tuesday Blog"

You may also like.


Tips on Keeping Safe During Vacation

Last year, traveling during Spring Break still seemed like a bad idea due to COVID-19. This year, everyone is ready for a vacation. As we get excited to venture out whether during Spring Break or over the summer, we may lose focus on keeping safe.

Read more

Financial Literacy & Safety
Shredded paper

Top Reasons You Should Shred

If you ever thought shredding was a waste of time, below are 4 reasons why you should do this at least once a year.



Read more

By NymeoFinancial Literacy & Safety
Up Arrow

Avoid Dynamic Currency Conversions When Traveling

When a merchant offers to convert your credit card transaction from the local currency into U.S. dollars, it might sound like a good idea because it is easier to but don’t be fooled. This is called dynamic currency conversion (DCC) and is an expensive and unnecessary fee for the cardholder.

Read more

By NymeoFinancial Literacy & Safety