News & Promotions What's New Current Promotions Newsletters Accounts & Services Tips When your child is born, begin saving for their college immediately. Put aside small amounts and let compound interest work in your favor for 18 years. Don’t wait until they are in high school to save. Investing Tip: If you have multiple CDs (Certificates of Deposit), ladder your investments. For example, have a variety of terms (1 yr., 2 yr., 3 yr., etc.) so your investments mature routinely. This helps prevent money being locked up for long periods & allows you to take advantage of rate increases over time. It’s said to take 10,000 hours to be an expert in something. Have you spent 10,000 hours studying investments? People often act as their own financial advisor just to save some money. Be smart with your life savings. A Roth IRA (Individual Retirement Account) allows you to make after-tax contributions that can be withdrawn tax-free after the age of 59 ½. This is a great retirement tool should your taxes increase in the future. Retirement planning is a long-term strategy. A great way to build saving habits is through a Certificate Account. With limited withdrawal abilities, you train yourself to leave your money alone as the balance grows. Timing the stock market is very difficult. When investing, try to make smaller, regular contributions to your accounts. Allocating a portion of each paycheck is a smart strategy to lessen the impact of market fluctuations. If facing a financial setback, speak to a financial advisor before withdrawing from your tax-advantaged investments. It’s often better to use a short-term loan to get you back on track than incur penalties and taxes. Saving for Your Child’s College? Open a separate account for your child. If your retirement savings and kid’s college savings are in the same account, it’s harder to track and avoid spending in emergencies. When people think of financial advisors, retirement planning comes to mind. But financial advisors help you plan for all life’s milestones, including getting married, starting a family, and buying a home. Pre-paid college plans are great tools to fight inflation and rising school costs. While each state’s plan will vary, the premise is that you’re able to lock in current tuition prices now instead of paying higher rates in the future. Before you begin market-based investments (e.g. stocks) make sure you have an Emergency Fund. Most financial advisors suggest having 3-6 months of living expenses set aside for emergencies. Do you have extra money sitting idle in your savings account? Consider putting a portion into a short-term certificate account. You’ll earn higher dividends and eliminate the temptation of spending it. Want the convenience of a savings account, but higher returns on your money? A money market account is a perfect solution. You’ll earn more, yet still have the flexibility to withdraw money as needed up to 6 times a month. Does your employer match a portion of your 401(k) or other investments? Always try to max out this benefit to boost your savings. Ask your employer if they match contributions and any rules set to participate. Not all financial advisors are the same. Before you invest money, make sure you research the financial advisor or broker you’re considering. You can review investment professionals at investor.gov. During the current stock market roller coaster, it’s important to stay calm and not make any sudden decisions. Contact your financial advisor or stop by the credit union to learn about our investment services. As the stock market continues its rollercoaster ride, many are considering selling their investments. Others view stocks as “on sale” right now. Before you make any big decisions, talk to a financial advisor for guidance. Before considering risk-based investments, such as stocks, mutual funds, or bonds, make sure you first build an emergency savings fund. This should be equal to at least 3-6 months of your current living expenses. While online trading companies make it easy to invest, you should still contact a financial advisor. Retirement planning is long-term and requires diversification, tax strategies, and tactics to avoid penalties and fees. Do you keep a sizeable amount of money in your regular Savings or Checking Account? Opening a Money Market or Certificate Account is a great way to earn more without adding risk to your investments. Before investing in the markets, focus on paying off all your credit card debt. The interest rates you pay on credit card debt will almost always be higher than traditional market returns. It’s more important to work on building strong savings habits than chasing investment yields. Savings rates and market returns are out of your control and constantly change. But how much you save is completely up to you. Understanding investments can be tricky. If you don’t fully understand the ins and outs of investing, be sure to speak with a financial advisor. They will walk you through the pros and cons of each investing option. Should you save your money or invest it? Focus on building an emergency fund equal to 3 to 6 months of living expenses in a savings account before moving into risk-based investments. When you’re in your twenties, retirement seems a lifetime away. But it’s the best time to start saving. Make small deposits regularly into an IRA or retirement account and let compound interest work for you. Before making sudden investment decisions based on new trends, speak with your financial advisor. Saving for retirement is a long-term strategy that involves more than short-term gains – such as decreasing future taxes. If your employer matches your 401(k) contributions, you should ALWAYS contribute at least the matched amount. That’s a 100% return on your investment and you can’t beat that! When saving money, how much you put aside is more important than how much you earn in return. You cannot control the markets, but you can build strong saving habits that will benefit you throughout your lifetime. With all the volatility in the stock market, consider opening a Money Market Account. It’s a great account to save your money until the market settles. Plus, you’ll earn higher dividends vs. a traditional savings account. Did you get a pay raise recently? Consider saving half of your raise amount each paycheck. You’ll still have extra cash to spend, but your savings will grow, too. Payroll deduction is a great way to automate the process. Whether investing in stocks or new markets, like cryptocurrencies, always make sure you understand the risks. Speaking to a financial advisor can help you determine which investments make the most sense for your goals. Rising inflation can cause swings in the stock markets. Avoid making drastic financial moves. Speak with a financial advisor about your long-term retirement plans. Selloffs may be good opportunities to buy. If you’re nearing retirement and fluctuations in the stock market have you uneasy, consider a Certificate of Deposit (CD). You’ll earn higher returns than a traditional savings account and avoid the risk of the stock market. The volatility in the stock market has many investors on edge – especially those close to retirement. Before making any drastic moves, speak with your financial advisor to learn about potential tax consequences. Does your employer offer 401(k) matching? If so, try to maximize your required contributions before the end of the year. 401(k) matching is free money from your employer that you don’t want to leave on the table. Downturns in the stock markets can cloud your judgment. Try not to become fixated on your portfolio’s past performance. Instead, focus on the current market and adjust investments to match your risk tolerance. Certificates of Deposit (CDs) are great savings tools for mid-range goals (within 1 to 5 years). Whether you’re saving for a vacation or a new car, CDs offer varying terms & earn higher dividends than other savings accounts. Certificates of Deposit (CDs) are great tools for young investors. Because your money is locked into a specific term, they teach you not to touch your money for extended periods and let it grow through compound interest. In your 20’s, retirement is likely the last thing on your mind. However, it’s the best time to start saving. Thanks to compounding interest, even small contributions can turn into a substantial sum over 40+ years. Before investing in home upgrades, ask a realtor if your project will add value to your property. Renovations like kitchen and bathroom remodels, adding a home office, or installing a deck tend to earn better returns. Start saving for your child’s future education expenses with a 529 college savings plan. It’s a tax-advantaged account that offers tax-free withdrawals on qualifying expenses like tuition, room & board, supplies, and more. Looking for a short-term boost on your investments without market risk? Earn more with a Share Certificate Account. You’ll earn higher dividends, and your money is insured up to $250,000 by NCUA. CD Laddering is a strategy where investors split their money among multiple Certificates of Deposit or Share Certificate Accounts. With varying maturity dates, not all your money is tied up for an extended period. People often manage their own investments to cut costs. However, going solo may result in missing out on potential earnings. Plus, financial advisors provide tax strategies to make your money go further in retirement. The harder it is to access your money, the easier it is to save. Consider opening a separate savings account without an ATM card. With limited withdrawal capabilities, you’ll be less likely to spend these funds frivolously. When creating new savings goals, the trick is to start small. Try to make regular deposits into your savings account each pay period. As you become comfortable, slowly work to increase the amount each paycheck. Do you find it challenging to stick to a savings plan? If so, consider working with a financial advisor. Many people feel a structured program makes the process more official, and they enjoy the hands-off savings approach. No rule states that you must store your entire emergency fund in one account. Use a combination of savings accounts, money market accounts, and share certificates to keep money accessible yet still earn decent returns. Ever calculated your net worth? It’s the difference between your assets (what you own) and liabilities (what you owe). It paints a complete financial picture, helping to guide wealth-building strategies over time. Amidst rising loan rates and inflation, seize the silver lining – higher savings yields. Boost your earning potential and limit risk with Share Certificate Accounts. Lock in guaranteed returns with flexible terms. You wouldn’t buy a car without knowing the make, model, and features. The same concept applies to other financial decisions, like investments. Before investing in a company, do your research and evaluate any risks. When diversifying your investment portfolio, it’s best to have a combination of assets and investments. Consider a mix of stocks, bonds, mutual funds, and exchange-traded funds (ETFs) to minimize risk exposure. The sooner you begin saving with an IRA, the better. IRAs have maximum contribution limits annually. That means the earlier you start depositing money into your IRA, the more you can accumulate over the years. Many people wait until tax season to deposit a lump sum into their IRA. Instead, break up your contributions so you put a portion in monthly. This tactic helps you earn more over the year & makes it easier to manage. Compound interest is interest calculated on the principal amount invested plus the accrued interest from previous periods. It is interest earned on interest, and it can snowball into substantial financial growth with time. The sooner you begin saving money, the more time your money can compound. Even small, untouched deposits can turn into substantial sums given enough time and decent rates of return. Be patient with your savings. Kickstart your savings journey by taking small steps. It’s not only about the interest rate but the consistent practice of saving. Cultivate the habit of setting aside funds regularly for long-term financial security. Instead of chasing rainbows to find a pot of gold, invest in realistic riches like certificates, money market accounts, IRAs, or stocks & bonds. These wealth-building tools will help you grow your green even faster. Retirement planning is about more than saving money. It involves a combination of investments, such as stocks and bonds, and tax-advantaged accounts like IRAs, HSAs, and 401(k)s. Meet regularly with your financial advisor. Certificate laddering is an investment strategy that allows you to split your funds among several Share Certificate terms and rates. This tactic allows money to mature regularly and take advantage of potential rate jumps. For Gen Xers, retirement is right around the corner. Aim to save at least 6-7 times your annual salary by age 60. Regularly review your 401(k), IRA, and other investments to ensure you’re on track for retirement. A financial advisor’s role extends beyond retirement planning to include goals like home buying and college savings plans. Choosing an advisor who understands your short- and long-term needs is crucial for financial success. Seeking a second opinion on your financial plan can reveal better options. Schedule consultations with potential financial advisors, discuss your goals and ensure their process aligns with your expectations. Diversification is your best defense against market volatility. By spreading investments across different assets, you minimize the impact of downturns. A well-balanced portfolio can help weather unpredictable market swings. As retirement nears, begin transitioning to conservative investments like Share Certificate Accounts. These safer options offer guaranteed returns and are federally insured, protecting your nest egg from market volatility. Mixed economic signals can increase market volatility, causing investor anxiety. Rather than reacting to every news headline, focus on a well-thought-out investment strategy that aligns with your long-term financial goals. Market downturns can be stressful, but they’re part of the investment journey. History shows that markets recover over time. Stick to your plan and avoid making decisions based solely on short-term market movements. Did you receive a year-end bonus? Ensure you max out your employer-sponsored 401(k) match before the end of the year. It’s essentially free money that you don’t want to miss out on and can’t claim later. Set realistic savings goals for financial improvement in the coming year. For example, increase your savings rate by 2%. Small annual increases can build significant wealth over time without major sacrifices. Build an emergency fund before diving into market-based investments. A safety net ensures your financial security should unexpected expenses arise. Once comfortable, begin moving into higher-yielding opportunities. Trying to save more? Start by saving 5% of your take-home pay. As you build confidence and stronger habits, increase that amount marginally until you reach 15%. Treat savings like a monthly bill that you pay to yourself. In your 30s & behind on retirement savings? Don’t panic! Even small contributions can grow substantially over time. Act now, set up automatic deposits into a 401(k) or IRA, and increase the amount as your income rises. The Rule of 72 helps estimate how fast your money doubles. Divide 72 by your expected return rate. If you earn 10% annually in the stock market, your savings will double in about 7.2 years. Invest early & let time work for you! Unsure how much to save for retirement? A common rule of thumb suggests aiming for 10x your salary by age 67. If you earn $50k per year, a $500k nest egg is a good target. Use online calculators to create savings goals. Want to grow a pot of gold? Start investing early! Even small amounts now can increase substantially through compound interest. Remember, when investing money, time in the market beats timing the market!