Earn More by Saving for the Holidays Now
Saving for short-term expenses doesn’t usually come with great interesting-earning potential. But right now, there are some big opportunities to do just that, especially for CPS IBEW Federal Credit Union members. Whether saving for the holidays, a down payment on a house, car repairs, insurance premiums, or other planned annual expenses, a little bit of planning and just a few months’ time can really pay off.
Let’s Talk CDs
CDs earn much higher returns than typical savings accounts, but the money must remain untouched for a certain length of time to reach its full potential. Some CDs require funds to be untouched for up to 24 months, but did you know that you can hold money in a 3-month CD and still earn measurable returns? CPS IBEW FCU offers 3-month and 6-month CDs (with a minimum $1,000 deposit) and Jumbo CDs (with a minimum $10,000 deposit) with some of the highest returns in San Antonio. We also offer 12, 18 and 24-month CDs. It’s worth asking a representative to help you weigh the pros and cons.
It’s Christmas Club Season
Our Christmas Club Account is designed to help avoid holiday overspending by helping members save conveniently all year. Set it up and save little by little through payroll deductions or auto transfers. Then, on the first business day in November, Christmas Club funds are transferred into a primary share account, ready to be used to help spread holiday joy! These accounts have no monthly fees and provide higher interest rates than traditional savings accounts. So instead of being floored by holiday bills, you can be surprised by added dollars and cents thanks to compounded interest.
Be an Easy Saver
Another way to save all year long is our Easy Saver Program. With every CPS IBEW FCU debit card purchase, you can round the total cost to the nearest dollar, and the difference is deposited in your savings account. So, buying a snow cone in the summer heat can get you closer to purchasing that snow-capped ski trip this winter. You can even supercharge your saving power by depositing Easy Saver savings into your Christmas Club account. Don’t forget that you can also have a percentage of your paycheck directly deposited into your savings account. By taking advantage of these automatic options, you’re “saving” yourself from having to make the decision to contribute to savings on a regular basis.
About 35% of Americans went into debt last holiday season, and that debt is growing: The average jumped to $1,549, up 24% from the year before. For ideas on how to use the tools above to help ensure you don’t overextend your wallet this holiday season, give us a call or stop by our lobby.
CDs earn much higher returns than typical savings accounts, but the money must remain untouched for a certain length of time to reach its full potential. Some CDs require funds to be untouched for up to 24 months, but did you know that you can hold money in a 3-month CD and still earn measurable returns? CPS IBEW FCU offers 3-month and 6-month CDs (with a minimum $1,000 deposit) and Jumbo CDs (with a minimum $10,000 deposit) with some of the highest returns in San Antonio. We also offer 12, 18 and 24-month CDs. It’s worth asking a representative to help you weigh the pros and cons.
It’s Christmas Club Season
Our Christmas Club Account is designed to help avoid holiday overspending by helping members save conveniently all year. Set it up and save little by little through payroll deductions or auto transfers. Then, on the first business day in November, Christmas Club funds are transferred into a primary share account, ready to be used to help spread holiday joy! These accounts have no monthly fees and provide higher interest rates than traditional savings accounts. So instead of being floored by holiday bills, you can be surprised by added dollars and cents thanks to compounded interest.
Be an Easy Saver
Another way to save all year long is our Easy Saver Program. With every CPS IBEW FCU debit card purchase, you can round the total cost to the nearest dollar, and the difference is deposited in your savings account. So, buying a snow cone in the summer heat can get you closer to purchasing that snow-capped ski trip this winter. You can even supercharge your saving power by depositing Easy Saver savings into your Christmas Club account. Don’t forget that you can also have a percentage of your paycheck directly deposited into your savings account. By taking advantage of these automatic options, you’re “saving” yourself from having to make the decision to contribute to savings on a regular basis.
About 35% of Americans went into debt last holiday season, and that debt is growing: The average jumped to $1,549, up 24% from the year before. For ideas on how to use the tools above to help ensure you don’t overextend your wallet this holiday season, give us a call or stop by our lobby.