Less than 10 percent of American adults understand a 401(k) well enough to explain it to someone else. Fewer than one in four can explain what a municipal bond is. Nearly 80 percent of consumers don't know how the grace period on a credit card works. An even greater percentage don't understand that interest starts accumulating immediately for new purchases on credit cards with outstanding balances. Very few American households have a safety reserve of 3 to 6 months of living expenses saved in an Emergency Fund. Bars of salt were widely used both for cooking and as money in Ethiopia until the 1920s. The bars were bound to reeds to prevent breakage. The Chinese were the first to see the advantage of handling money in the form of printed paper. Do you ever wonder if you'll have enough money to retire on? Or does thinking that far out into the future seem a little scary? Here at Marion School Employees Federal Credit Union we want you to be an informed consumer and financially savvy. This site was designed to give you information that is relevant in your life. If you have suggestions for this site please let us know. This site will change at least quarterly, so check us out from time to time.