Recognition Honors Community Impact, Employee Support, and Commitment to Social Responsibility

Wheelhouse Credit Union has been named a 2025 Company That Cares by the San Diego Business Journal, an honor that recognizes local organizations that go above and beyond in their commitment to community involvement, employee well-being, and social responsibility.

“At Wheelhouse, caring for our community isn’t just something we do—it’s who we are,” said Wheelhouse President/CEO Lisa Paul-Hill. “Being recognized as a Company That Cares is a reflection of the heart that our team puts into everything we do, from supporting our Members’ financial well-being to giving back and leaving a positive impact on the neighborhoods we call home. We’re honored to be part of this program that celebrates purpose-driven business.”

Rooted in a mission to positively impact the lives of San Diegans, Wheelhouse has long prioritized giving back to the local community through deep and lasting partnerships for over 90 years. From providing free financial education to investing in youth development, sustainability, and workforce support, the credit union continues to demonstrate its unwavering commitment to the region.

Through its long-standing College Scholarship Program, Wheelhouse has awarded more than $100,000 in scholarships to local high school seniors pursuing higher education, empowering the next generation of leaders and changemakers. Wheelhouse also funds an annual D. Cruz Gonzalez Memorial Grant, which supports a commitment to volunteerism in underserved communities.

In addition to its support for education, Wheelhouse remains a proud partner of local nonprofit organizations, including the San Diego Police Foundation, I Love A Clean San Diego, Make-A-Wish® San Diego and more. Its employees regularly volunteer time and resources to support beach cleanups, wish-granting events, and environmental preservation efforts. Wheelhouse also supports initiatives that promote clean energy, local environmental awareness, and neighborhood revitalization—efforts that align with its core values and its pledge to create a greener, more vibrant San Diego.

Internally, Wheelhouse fosters a culture of care, purpose, and professional growth for its employees. The organization offers robust wellness initiatives, flexible work schedules, and ongoing professional development opportunities. Its commitment to a healthy, inclusive workplace culture has not only helped retain top talent but has also created a team that’s deeply invested in the organization’s mission.

“At the heart of Wheelhouse is a team that truly believes in making a difference,” added Paul-Hill. “Whether we’re helping a Member buy their first home, guiding someone through financial hardship, or planting trees in our parks, everything we do is grounded in service.”

As it celebrates this recognition, Wheelhouse remains committed to expanding its community impact and continuing its legacy as a trusted, caring partner for both Members and the broader San Diego community. With nearly a century of service behind it and an eye on a more sustainable and inclusive future, the credit union continues to prove that doing good and doing business can go hand in hand.

senior couple in kitchen

1. What is a Reverse Mortgage or Home Equity Conversion Mortgage (HECM)?

A Home Equity Conversion Mortgage (HECM) is commonly known as a Reverse Mortgage. HECM is a home-secured loan designed to help homeowners 62 years of age or older turn some of their home equity into cash. You may choose to receive monthly payments, a lump sum of cash, or a line of credit. HECM is insured by the Federal Housing Administration (FHA) and offers all the benefits of a traditional line of credit that you can get from a bank but with additional benefits— including a flexible repayment feature. As with any mortgage, you must meet your loan obligations, keep current with property taxes, insurance, maintenance, and any homeowner’s association (HOA) fees.

2. How much money can I get?

The specific amount of funds available is based on several factors, including the appraised value of your home, your age, current interest rates, and Federal Housing Administration (FHA) lending limits.

3. How do I receive my proceeds from the Reverse Mortgage?

Proceeds from the Reverse Mortgage are tax-free* and can be distributed in a variety of ways based on your choice. Proceeds from the Reverse Mortgage may be taken as:

  • A lump sum
  • A Line of Credit
  • Monthly payments for a specified time period
  • Monthly payments for as long as you live in the home
  • Or a combination of these

4. What are the costs associated with a Reverse Mortgage?

In addition to interest, the costs include a title fee, credit report fee, appraisal fee, origination fee, closing costs, mortgage insurance premium, and a modest charge for the Reverse Mortgage counseling. Consult with a Housing and Urban Development (HUD)-approved reverse mortgage counselor before you apply. A counselor can help you decide whether a reverse mortgage or some alternative is the best choice for you. To find a HUD-approved Home Equity Conversion Mortgage (HECM) counselor near you, call (800) 569-4287.

While closing costs vary based upon the size of the loan, they’re the same as those for any traditional mortgage. You can roll most of the up-front costs into the loan, so out-of-pocket expense can be minimized.

* Wheelhouse Credit Union cannot provide tax advice. Please consult a tax advisor.

© 2024 Wheelhouse Credit Union. Federally insured by NCUA. Equal Housing Opportunity Lender.

Full length shot of beautiful, happy young woman sitting on the cozy sofa with hands behind head, looking away, smiling and daydreaming.

The prevalence of self-care messaging reminds us to nurture our physical and mental well-being—with mindfulness practices, exercise routines, and virtual detoxing. But what about financial self-care?

When we cultivate positive money habits and plan for our future we are (quite literally) investing in ourselves. Financial self-care is rooted in self-awareness, discipline, and intentionality. Here are several ways you can practice financial self-care, starting now.

Build a Budget
Building a budget is akin to giving yourself the gift of clarity: it allows you to track expenses, identify potential areas where you can trim spending, and allocate funds to help you achieve financial goals. Rather than seeing budgeting as a restrictive practice, frame it as a tool that grants you freedom to spend where it matters. Connect with your financial institution to see what budgeting tools they offer and check out this interactive budgeting worksheet in the meantime.

Create an Emergency Fund
More than half of Americans fear they wouldn’t be able to cover daily living expenses for a month if they lost their income tomorrow, according to a recent Bankrate survey. Invest in your future peace of mind: set up an automatic, recurring savings deposit with the goal of setting three to six months’ worth of living expenses aside. If you’re living paycheck to paycheck, you can start small by setting aside 2% of your net income and gradually increasing your contribution rate when possible.

Tackle Debt
With recent federal interest rate hikes, borrowing costs have reached historic highs which means even your debt is costing you more money. If you’re feeling overwhelmed, you’re not alone. Taking proactive steps towards debt reduction can improve your financial health and significantly reduce your stress. Unsure where to begin? Explore a Debt Management Program, designed to pay off your debt in 3-5 years and deepen your financial resilience.

Plan for Retirement
If your employer offers a 401(k)-retirement plan, take advantage of this benefit (especially if your company matches part or all of your contribution). Don’t have a workplace retirement account? You can still open a Roth IRA—a tax-advantaged retirement savings account. If you find it challenging to save throughout the year, consider setting aside part or all of your tax refund as a way to begin investing without impacting your day-to-day budget.

Get Educated
One of the most empowering aspects of financial self-care is education. Chat with your financial institution about what resources they offer. If you want to explore courses and are worried about costs, take advantage of free financial education online. Whether you’re preparing to buy a home or navigating your auto loan, these sessions offer jargon-free, shame-free guidance to help you reach your financial goals.

This article is shared by our partners at GreenPath Financial Wellness, a trusted national non-profit.

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