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 even $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 firstname.lastname@example.org 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 in the long term. Today we’ll encourage our communities to acknowledge and celebrate reducing their 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, Bellco is 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.
*APY=Annual Percentage Yield. Earn 1.00% APY with a minimum balance of $10, 000, and 0.35% APY with no minimum balance. Rates effective 2/01/2020. Conditions and restrictions apply. Membership eligibility required. Fees may reduce earnings and rates may change after the account is opened.
**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.
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