How to save – and earn more – with your money

Many of us know the importance of a substantial emergency fund. But after reaching that savings threshold, you might be looking into other options to grow your financial nest egg. Here are some investment opportunities that may help your earnings grow even faster:

Retirement accounts

These accounts are a great way to plan and save for your ideal retirement. Individual Retirement Accounts (IRAs) allow you to take advantage of both long-term compounding interest and tax-deferred earnings. Compounded interest is a magical thing. Generally speaking, the more money you put into your retirement plan, the more money you’ll get out. If you can swing it, try contributing a bit more to your retirement accounts.

Money Market accounts

Money Market accounts are popular deposit accounts that earn interest based on current balance, meaning higher balances receive higher interest rates. These accounts are designed to give you high yield plus total liquidity so you can make withdrawals at any time without penalty. Visit our website to learn more about our Money Market savings options.

Certificates of Deposits

Certificates of deposits or Certificate products are not to be confused with a traditional savings account. A certificate is fixed for a certain term, ranging from 6 to 60 months, and usually offer higher rates than a traditional savings. Unlike a savings, funds cannot be withdrawn freely and will most likely result in a penalty. Furthermore, longer term lengths generally yield higher interest rates, meaning the longer you save, the more you’ll earn.

Are you ready to make more on your money? Open a Certificate Account today! We’ve recently increased our Certificate rates and you have the power to take them even higher! Visit www.traviscu.org to get started on your investment. Stop by a branch or give us a call during normal business hours at (800) 877-8328 for more information.

Money Market Savings Certificates