Investment Services

Find an Account to Help You Invest in the Future

Money Market Accounts

A Money Market Account is indeed a flexible and potentially high-yield financial product offered by many banks and credit unions. Let's break down the key features and benefits:

• High-Yield, Tiered-Rate Account:

  • Money Market Accounts typically offer higher interest rates compared to regular savings accounts. These rates can vary from one financial institution to another but are generally more competitive.

  • The "tiered rate" aspect means that the interest rate you earn may increase as your account balance grows. This incentivizes customers to save more money in their MMAs, as higher balances can lead to higher interest earnings.

• Minimum Balance Requirement:

  • Most Money Market Accounts have a minimum balance requirement, which in this case is $2,000. This means you need to deposit at least $2,000 to open and maintain the account.

  • The minimum balance requirement helps the bank ensure that customers are committed savers, and it may also be a factor in determining the interest rate you receive.

• Flexible Terms for Maximized Earnings:

  • Money Market Accounts provide flexibility in terms of how you access and use your money. While they are not as liquid as checking accounts, they are more flexible than certificates, which have fixed terms.

  • You can usually make withdrawals and deposits at any time, allowing you to access your funds when needed without incurring penalties (though there may be transaction limits or fees if you exceed these limits).

• Variety of Options for Withdrawing Money:

  • Money Market Accounts typically offer various ways to access your funds, such as writing checks or making electronic transfers. This flexibility makes them suitable for both saving and everyday financial needs.

  • Keep in mind that federal regulations limit certain types of withdrawals from Money Market Accounts to six per month, which is a measure designed to encourage savings rather than frequent transactions.

Certificates

Looking for an account that offers member loyalty bonus incentives? A certificate may be the right option for you.

• Member loyalty bonus incentives:

  • Member loyalty bonus incentives are rewards or bonuses offered to account holders who maintain a long-term relationship with a particular financial institution. These incentives can come in various forms, such as higher interest rates, cash bonuses, or other perks.

  • These bonuses are designed to encourage and reward customer loyalty, which can include keeping funds in the institution's accounts for an extended period.

• Open your account with a $500.00 minimum deposit

  • Certificates typically require a minimum deposit to open the account, and in this case, the minimum deposit is $500.00.

• Term options available from 6 to 60 months

  • Certificates offer a fixed term during which your money is locked in at a specific interest rate. The term options range from 6 to 60 months, providing flexibility for different financial goals.

  • Shorter-Term certificates (e.g., 6 or 12 months) may offer lower interest rates but provide quicker access to your funds, while longer-term certificates (e.g., 24, 36, 48, or 60 months) typically offer higher interest rates but require you to leave your money untouched for a more extended period.

• Lock in high-interest rates for a specific term

  • One of the primary advantages of a certificate is the ability to lock in a high interest rate for the duration of the chosen term. This provides predictability and stability in your earnings, as the interest rate won't change during the certificate term.

  • It's essential to carefully select the term that aligns with your financial goals and time horizon to maximize your returns.

• Higher dividend earnings

  • Certificates typically offer higher interest rates (also referred to as dividends) compared to regular savings accounts or Money Market Accounts. The longer the term, the higher the interest rate is likely to be.

  • This makes certificates an attractive option for those looking to earn more on their savings, especially when they can commit to leaving the funds untouched for the chosen term.

• Perfect for short- and long-term investing

Individual Retirement Accounts (IRA)

Ensure your retirement is as stress-free and relaxing as it should be by opening an IRA today.

• Provides diversification across retirement plans

  • IRAs are an excellent tool for diversifying your retirement savings. They complement other retirement plans like 401(k)s, pensions, and Social Security by offering unique tax advantages and investment options.

  • Diversification can help you spread risk and tailor your retirement savings strategy to your specific needs and goals.

• Options include Traditional and Roth IRAs and Coverdell Education Savings Accounts

  • Traditional IRA: Contributions to a Traditional IRA may be tax-deductible, potentially reducing your current taxable income. You'll pay taxes when you withdraw the funds in retirement.

  • Roth IRA: Contributions to a Roth IRA are made with after-tax dollars, so withdrawals in retirement, including earnings, are typically tax-free.

• High-yield earnings you may not find at other financial institutions

• Distributions on contributions may be tax-free

• May provide additional tax benefits - check with your tax advisor or financial planner for details