Ripple Effect Financial Makeover Challenge

Over 50 applicants | 3 teams | $10,000 total prize money

We are so excited to announce the four seleted teams! Please join us in welcoming Alex & Reanna, Allan & Jessica, and Justin & Karina. They have embarked on a six month journey to financial well-being.

But wait! The selected teams aren't the only ones to go on this journey. Watch this space to see how you can participate on your own. Need a little inspiration? We'll provide team updates, videos, blog posts, and more. 

About The Ripple Effect Financial Makeover Challenge

The Ripple Effect Financial Makeover Challenge is an exciting opportunity for three teams of Fox members to build a stronger financial future all while competing for $10,000 in prize money. During Ripple Effect, each team will be working with their own Financial Coach assigned through Fox Communities Credit Union’s partnership with Goodwill Financial and Debt Solutions Services. The challenge begins in April and ends in October, with one team winning a grand prize of $5,000! 

Get Inspired 

These teams are about to embark on a fantastic journey in pursuit of financial well-being and you can follow along with them. We'll share regular updates here and on Facebook & Instagram from each team at various points throughout their six-month experience as well as some of the actual tools they'll be using. Learn what's motivating these teams to stick with it and change their outlook on financial well-being. 

Meet the Teams

The Ripple Effect Financial Makeover Challenge will follow each teams' financial makeover journey.


Alex & Reanna P.

Our goal is to set up a true budget we can work off of rather than just trying to generally limit our spending. We’d like to be free from credit card debt and be able to start generally saving money.


Allen & Jessica B.

Our goal is to be at a place where we know how to manage our money. We want to start setting up a future for us and our daughter. Our expectations are high because we know once we get the knowledge and a rhythm going, we wouldn’t turn back.


Justin & Karina O.

We want to build a savings (safety net) while paying down as much debt as we can by the time our second child arrives (due in August!), so we can free up more money towards daycare costs.

Are you interested in following along with the Ripple Effect Financial Makeover? We've got you covered. Over the next five months, we’ll share each of the five steps in the Fox Money Blueprint Financial Makeover on the Fox blog. 

The Five Steps of the Fox Money Blueprint

  1. Build the Foundation
  2. Create a Spending/Savings
  3. Start Saving!
  4. Pay Off High-Interest Rate Debt
  5. Building Momentum: Keep Saving!

Rules for Participation

Download a printer-friendly PDF version here.

  • A single applicant or at least one joint applicant must be a Member of Fox Communities Credit Union.
  • Members living with a spouse, partner, or significant other must submit a joint application to be eligible to participate.
  • Unless otherwise noted, both joint applicants must meet the requirements of the Rules for Participation and if selected to participate, execute this Ripple Effect Financial Makeover Challenge Participant Agreement (“Agreement”).
  • “Participant” means an applicant or joint applicants that have been selected to participate in the Ripple Effect Financial Makeover Challenge. A joint application that is selected will be considered one Participant.
  • Be a citizen(s) or legal resident(s) of the United States.
  • Be 18 years of age or older.
  • Be a Fox Communities Credit Union member(s) with a checking and savings account in good standing for at least 90 days prior to contest application date.
  • Not currently have negative or charged off accounts with Fox Communities Credit Union.
  • Not have declared bankruptcy within the last 12 months.
  • Demonstrate the need for the Ripple Effect Financial Makeover Challenge and a willingness to improve their financial situation.
  • Be willing to work closely with the Goodwill Financial and Debt Solutions Services Financial Coach.
  • Be willing to share their journey (including blogging and being interviewed for print and electronic media).
  • Agree to terms, conditions, and obligations of the program as currently set forth in this Agreement and any terms, conditions, and obligations subsequently imposed by Fox Communities Credit Union.
  • Team Members (employees) and volunteers of Fox Communities Credit Union, and their immediate families, are not eligible to participate. Immediate family includes mother, father, husband, wife, son, daughter, sister, brother, grandmother, grandfather, grandson, granddaughter, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, domestic partner, or step relatives.

Selection Criteria:

  • Applications will be considered only if complete.
  • Thorough answering of the essay questions. Tell your story!
  • The committee will review applications and select those for the interview process.
  • The committee may consider publicly available information in the evaluation process.
  • Four Participants will be chosen following the interviews.
  • Participants will be chosen based on the committee’s determination of those with the greatest need and opportunity to improve in the three measurement categories (Increasing Savings, Debt Reduction, and Credit Score Increase).
  • The committee will choose Participants at its sole and absolute discretion and has no obligation to provide applicants with the reasons for not being selected as a Participant.
  • If you are not selected, we will notify you via email or phone.

Participant Obligations:

  • Have a genuine interest in actively working on their personal financial situation.
  • Be willing to share their experience and lessons learned with the public (including blogging and being interviewed for print and electronic media).
  • Actively participate with their Financial Coach assigned through Fox Communities Credit Union’s partnership with Goodwill Financial and Debt Solutions Services:
    • Attend all meetings/calls with their assigned Financial Coach (a minimum of twice a month or more often, as determined by their Financial Coach).
    • Complete a budget, worksheets, or other financial fitness tools as requested by their assigned Goodwill Financial and Debt Solutions Services Financial Coach.
    • Actively participate in and complete all required courses – to be determined by the Financial Coach.
    • Must set goals, create a budget, financial plan, and use these and/or other financial fitness tools as requested by their Financial Coach and demonstrate a willingness to stick to their plan.
    • Agree to have their financial data provided to the Goodwill Financial and Debt Solutions Services Financial Coach bi-monthly.
    • Actively share their experiences over the six-month period of the Ripple Effect Financial Makeover Challenge.
  • No account/loan balances or credit score data is obtained during the application process. The only applicants required to provide financial data are those actually selected to participate in the challenge, other than income information submitted with the application.
  • Use earned income for program participation. All funds MUST be earned from the Participant’s household income. Participants may not borrow funds from individuals or obtain other loans to reach their goals.
  • Any stimulus or similar funding may not be used as part of a Participant’s income. Income MUST be earned income coming into the household (and spouse/partner for dual income households participating in the program). Income from other earned income sources is not restricted (i.e., part time job, side jobs, etc.).

Declaring the Winner:

  • The winner will be determined based upon which Participant achieves the highest percentage (%) increase in their savings balance, credit score, and decrease in consumer debt. Participants will be ranked in each category with the highest overall score being the winner.
  • In the event of a tie, the actual percentage of change will be used as the tie breaker in the following order: Savings Increase, Debt Reduction, and Credit Score Increase.
  • Prize – Winner will receive $5,000; second place will receive $2,500; third place will receive $1,500; fourth place will receive $1000. Additional prizes may be awarded for Participant creativity in improving in any of the categories. Participants are responsible for all taxes related to receipt of the monetary awards, and Fox Communities Credit Union is in no way responsible for the payment of such taxes.
  • To receive a payout at the end of the program, the Participant must: Have achieved an improvement in at least 2 of the 3 categories, as well as fulfilled the program participation requirements.
  • The Ripple Effect Financial Makeover Challenge will last six (6) months. The winner will be announced approximately 4-6 weeks following the end of the challenge.

Causes for disqualification from the program:

  • Borrowing funds or receiving a loan with the purpose of boosting account balances.
  • Failure to adhere to or complete Participant obligations, including but not limited to the list below:
    • Failure to be engaged in the program and fulfill program requirements.
    • Failure to make improvements in any of one of three benchmark categories (savings, debt, or credit score). o Failure to complete ALL required tasks as assigned.
    • Failure to meet with their Financial Coach a minimum of twice per month. o Having a negative/unpaid balance in any Fox Communities Credit Union account.
  • If a Participant wishes to withdraw from participating in the challenge, they must submit their decision in writing to Fox Communities Credit Union, Attention: Financial Wellness Manager.

Program Modifications:

Program guidelines, responsibilities, obligations, and criteria may be modified as deemed necessary by Fox Communities Credit Union. Participants will be notified of any change or modification.

I acknowledge that I have read and understand this Agreement and I agree to the terms thereof. 

I further acknowledge and agree to the following: 

  • The information I share for purposes of my participation may be shared between and among Fox Communities Credit Union, Goodwill Financial Debt and Debt Solutions Services, and the member of my household, iparticipating jointly. 
  • I authorize Fox Communities Credit Union and consent to the use and reuse of my name, likeness, picture, voice, statement, video recording, or audio recording in any advertisement, promotion, publicity, or marketing, in any media or format related to the program, and acknowledge that Fox Communities Credit Union is not obligated to do so.
  • I will keep all information acquired during my participation in the program confidential and will not share any such information without the written consent of Fox Communities Credit Union.
  • I hereby release, hold harmless, and indemnify Fox Communities Credit Union, including its directors, officers, employees, agents, representatives, contractors, successors, and assignees from any and all claims, actions, damages, liabilities, losses, costs and expenses of any kind (including, without limitation, attorneys’ fees) arising out of, resulting from, or by reason of, my application for, or participation in, or in connection with the Ripple Effect Financial Makeover Challenge, including, without limitation, my participation in the participant selection process, the failure to select me as a participant, the cancellation of the program, or any use of my likeness. 

The application window is closed and the teams have been selected and announced. 

Thank you to everyone who applied! 

The teams selected for this life-changing opportunity will:

  • Reduce debt, increase savings and raise their credit score. 
  • Work one-on-one with a personal financial coach from Goodwill Financial and Debt Solutions Services.
  • Inspire others with the priceless knowledge and tools they acquire throughtout their Ripple Effect journey. 
  • Compete to win up to $5,000 with a total of $10,000 in prize money!

Ready to makeover your finances? Stay tuned to learn how you can also go on this financial makeover journey.

The application window is now closed. 

If you have questions about this event, please contact us and we'll be more than happy to help.

The Ripple Effect Financial Makeover Challenge is possible thanks to our partnership with
Goodwill Financial and Debt Solutions Services.

GW-Corporate-Logo.png