Hi Everyone,
This week it was my pleasure to teach the third graders at Garrison Elementary School. We all had fun as we learned about spending and donating and saving and investing. The most difficult concept for the students to learn was investing. As I taught the children I couldn’t help but smile when I thought that investing is also one of the most difficult concepts for adults to learn. What investing really boils down to is what I told the third graders. Investing is letting your money work for you. It’s a pretty easy concept to learn. Unfortunately it’s not that easy to execute. Here at the credit union we can help you execute this concept. We’ve got a wide range of products that will help your money work for you. Take a look at our money market accounts. The rates are excellent and there is a low minimum of $2,500. Plus there’s the ability to access your money any time you need it. And if you have some issues investing for retirement we’ve got an IRA money market that’s an even better deal for you. $100 is all you need to open an IRA money market account with us. $100 to start or continue your retirement program and earn the lower tier of our money market account that as I write is now 3.15%. Is there anywhere else you know of where you can save for retirement with only $100 to start and earn that kind of rate?
One of the tools I used to deliver my message to the students at Garrison is a piggy bank. I gave each one of the students a piggy bank. A piggy bank symbolizes saving. Let me ask you another question. Are you robbing the piggy bank? Do you have savings that you specifically set aside for something like retirement or education or the down payment on a new house and now, to support your lifestyle, you’re robbing that piggy bank? Maybe it’s time to put a lock on the piggy bank. Take the money you have and open a certificate of deposit at the credit union. The minimum is only $500 and we have maturities from six to sixty months. Because there’s a penalty for early withdrawal you won’t be so tempted to rob your piggy. Plus the dividend rates on our certificates are very competitive meaning more money for you when you do decide to use the money for the reason you originally intended.
In conclusion, I hope that all of you have a savings and investment plan in place. As I’ve emphasized so often in the past the only way to succeed financially is to live below your means. Then use the credit union’s great savings and investment products to help you secure your financial future. Because remember, investing is letting your money work for you.
Till Next Time,