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Credit union savings:
The proof is in the numbers.
Just look how simple saving can add up especially when it’s compounded with a competitive interest rate. For example, let’s say you’re saving $10 each month, an amount that may not be too difficult for you to put aside, but can still lead to a nice lump of green when left to accumulate interest over the years.
| Years |
3% |
6% |
9% |
|
10
|
$1,397
|
$1,639
|
$1,935
|
|
20
|
$3,283
|
$4,620
|
$6,679
|
|
30
|
$5,827
|
$10,045
|
$18,307
|
The tools of saving are right here.
Regular saving, whether $1 or $10 each month, can add a big plus to your financial picture. The question now is, where can you put your savings? You can put it in a piggy bank or in your sock, but it won’t earn interest there. And if your money is lost whether it be by fire, forgetfulness or a sneaky sibling, it is gone for good. Put your money where it will earn interest and be safe.
Credit unions offer a variety of savings programs. Since credit unions are owned and controlled by their members, all profits are returned directly to the membership. With no stockholders to satisfy, members benefit in many ways, including higher interest on savings.
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