February 2020 Newsletter
Bellco is proud to celebrate Six Days of Savings (February 24–29) in support of America Saves Week, an annual celebration and call to action for Americans to commit to saving successfully.
Bellco's goal is to make members feel secure wherever they are on their financial journey. We’ll focus on the following America Saves Week daily themes in hopes you will pledge to set a savings goal while providing Savings Tips to help you achieve personal financial stability.
Monday, February 24 | Save Automatically
Saving automatically is the easiest and most effective way to save. Whether you're saving for an emergency fund, education expenses, retirement or all things in between, saving automatically places our community in the best possible position to reach any savings goal.
Six Days of Savings Tip: Consider our Round Up Savings Program—Each purchase you make with your Bellco debit card gets rounded up to the next dollar and the difference is deposited into your Bellco savings account. The more purchases you make, the more you’ll save.
Tuesday, February 25 | Save with a Plan
It’s not enough to simply set a savings goal. That’s because savers who have a plan are twice as likely to save successfully. Today, we encourage Americans to PAUSE and make space for a financial health check-in and take their savings goal a step further by developing an action plan.
Six Days of Savings Tip: Consider a Premier Money Market—This tiered account earns up to 1.75% APY* with a minimum balance of fifty thousand dollars, which is better than most CDs—plus, you’ll have access to your money if you need it.
Wednesday, February 26 | Save for the Unexpected
America is in a Savings Crisis. We all know the stat—forty percent of Americans don’t have access to $400 cash in case of an emergency. Additionally, the average debt in collections is just under $400, so it’s easy to imagine the impact of more Americans having a $500 emergency fund.
Six Days of Savings Tip: Consider MoneySmarts—Our free online financial education program offers quick learning activities to help you reach your financial goals, including how to build an emergency fund. Plus, you could win a $100 gift card when you complete any activity.**
Thursday, February 27 | Save to Retire
Preparing for retirement can easily be pushed into the “someday” category as we focus on present needs and expenses. In fact, very few Americans have a plan for retirement savings that is adequate for their desired standard of living after they retire. Today we encourage Americans to save for tomorrow, and discover just how much they need to save for their golden years.
Six Days of Savings Tip: Consider CUSO Financial Services (CFS†)—The CFS Financial Advisors that serve Bellco, are available to assist you with your retirement questions. You can email email@example.com or stop by any Bellco branch to set up a personalized complimentary appointment.
Friday, February 28 | Save by Reducing Debt
Paying down your debt IS saving! When you actively reduce your debt you save on interest. When you pay on time, you save on late fees and maintain your credit score—which will save money long-term. Today we’ll encourage our communities to acknowledge and celebrate reducing debt as a form of saving and a component of their financial plan.
Six Days of Savings Tip: Consider a Home Equity ChoiceLine—If you’re a homeowner with equity in your home, a ChoiceLine provides a great option to consolidate debt with a lower monthly payment. For a limited time, beginning February 22, 2020, Bellco will be offering a great low fixed-rate on advances of $10,000.00 or more on our Home Equity ChoiceLine product.***
Saturday, February 29 I Save as a Family
The best way to teach great money habits to our children is to model great financial habits. While most Americans know the importance of making sound financial decisions, many feel that money management wasn’t taught to them at a young age. Today we’ll encourage our communities to be creative and intentional about finding ways to teach children about money, spending habits, and saving.
Six Days of Savings Tip: Consider Coindexter Club—This award-winning online game immerses kids in real life financial learning situations in a fun and safe environment, Plus, when your child saves $500 in their virtual savings account, they’ll be eligible for a real $25 Youth Savings Account deposit.
Learn more at Bellco.org/SixDays.
*APY=Annual Percentage Yield. Please speak to a Bellco representative for more information on applicable fees and terms.
**NO PURCHASE NECESSARY TO ENTER OR WIN. VOID WHERE PROHIBITED BY LAW. For Official Rules, see www.bellco.org/MoneySmartsSweeps2020.
***All applications are subject to credit approval and the final rate may vary based on several factors.
†Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA /SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Bellco Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union customers.
It's time to gather your garden and home-remodeling plans and head to the Rocky Mountain region’s oldest, largest, and most prestigious home show, the 2020 Colorado Garden & Home Show. Bellco is proud to be the presenting sponsor of this nine-day event at the Colorado Convention Center, February 22–March 1.
The show offers a one-stop marketplace to find the experts who can remodel, refresh, and renew a home or garden. With over 650 participating companies and over 1,400 booths, there’s something for everyone.
• Bellco members can Buy One Admission, Get A Second Admission Free by presenting their Bellco debit/credit card or mobile app at the ticket window!
• Visit this year’s “Special Olympics Colorado” Entry Garden presented by Bellco. See what sports and activities are presented every year for participation, all while enjoying the sights and smells of spring.
• Attend one of 40 free educational seminars and how-to demonstrations in the home show theater.
While you're there, stop by the Bellco booth to see how you could win one of ten $500 Lowe’s® gift cards just for visiting*.
We'll also have a special offer on our home equity ChoiceLine during the show. Stop by the Bellco booth for full details.
BELLCO’S REAL ESTATE Q&A—COCKTAIL RECEPTION
SATURDAY, FEBRUARY 22 FROM 5–7 PM
Join Bellco’s Mortgage Professionals after the Garden & Home Show (in the upper lobby outside the Home Show entrance) for cocktails, appetizers, Q&A, networking, and a wealth of information on topics, such as:
• How to buy a home with only 3% down
• How to get prequalified for a home purchase
• How refinancing can help improve your financial situation
• How today’s rates could make sense for refinancing
Admission to the reception is free and no reservations are required. We look forward to seeing you there!
For more details, click here. For more information about the Colorado Garden & Home Show, go to ColoradoGardenFoundation.org.
*NO PURCHASE NECESSARY TO ENTER OR WIN. VOID WHERE PROHIBITED BY LAW. Official Rules will be available at the Bellco booth during the event.
Winter is definitely in full swing here in Colorado, and many people have been loving the skiing, boarding, sledding, and skating opportunities the season can bring. However, all around us, others count themselves lucky to have heat or even just a roof over their heads, which brings a whole new take on “braving the winter” and means that some of our fellow Coloradans could use some help.
At Bellco this year, we’re renewing our focus on impacting our community in a number of ways, including through helping people improve their quality of life. That’s why we’re proud of our ongoing partnership with Food Bank of the Rockies, a nonprofit organization that works to help eliminate hunger throughout Colorado, not just for the homeless but also for lower-income workers, children, seniors, and those with health issues.
And Food Bank of the Rockies isn’t the only place that strives to help our fellow Coloradans. Others are doing great work as well, including:
• Habitat for Humanity Metro Denver, a nonprofit that builds and sells homes to hard-working people in need of decent and affordable housing.
• Energy Outreach Colorado, the only non-profit organization in Colorado that raises funds to help low-income families afford home energy.
These organizations and more are hoping to create a better future for Coloradans young and old. And they’d be happy for your help—they’ll all accept monetary donations and would be very happy to take your donation of time. If you can donate in some way, we’d love for you to join us in impacting our communities to help create a better Colorado today.
Tax time doesn’t have to be stressful. With TurboTax, you’ll get your biggest possible refund fast and your taxes done right. Plus, Bellco members can save up to $15 on TurboTax federal products, all through tax season.
TurboTax makes it easy to find the best solution for your unique tax situation. Simple filer? Homeowner? Independent contractor, freelancer or side-gigger? TurboTax has a product that is right for you.
File with confidence, knowing that TurboTax guarantees 100% accurate calculations and runs thousands of error checks as you go. And if you need help, TurboTax has it: from answers online anytime, to unlimited advice and a final review from a CPA or Enrolled Agent with TurboTax Live.
Try it for free and pay only when you’re ready to file. Learn more and get started today at Bellco.org/taxresources.
Equal Housing Opportunity Statement: We are pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.