Are you expecting a tax refund or bonus from an employer? We know that deciding on the best savings plan can be an intimidating process. That’s where we come in. If you’re looking for the best way to save or invest your tax refund or bonus, here are a few of our favorites.
Certificates are a good way to earn money without the volatility of the stock market. Your earnings are guaranteed, your principal is never at risk and you earn more than a savings or money market account. Plus, certificate savings are federally insured by the National Credit Union Administration (NCUA).
Our certificates tend to offer better rates than savings accounts and you can choose a term that suits your needs. View today's savings rates.
Consider laddering your certificates to maximize your investment.
Individual retirement accounts
IRAs can be an important part of a diversified retirement portfolio. IRAs offer valuable tax benefits, don’t require a company-sponsored retirement plan, and can be a valuable way to supplement your retirement.
The essential question is whether it is more beneficial to take advantage of tax-free withdrawals upon retirement or receive an upfront tax break. When you decide, you can choose between a traditional IRA (tax benefits now) or Roth IRA (tax benefits later). Visit our Retirement Central website for more information or to open your IRA.
Through our partnership with CUSO Financial Services, L.P.* (CFS), members have access to everything from financial advice to retirement planning.
Our CFS consultant can help you with retirement planning, estate planning, income planning, life insurance, college funding, long-term care planning and more. Learn more about CFS or schedule an appointment.
Lastly, out of sight and out of mind could be your recipe for a growing savings account. Set it and forget it with automatic payments. Through your account login, you can set up regular automatic transfers, which help your savings grow effortlessly. You can even transfer money from other financial institutions.
Let us help you earn more easily and conveniently. Open an account online or stop by any of our branches.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the Credit Union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to Credit Union members. Please consult a qualified tax advisor for specific tax advice.