Beyond Your Emergency Fund

Where to Safely Stash More Cash at Navigator Credit Union

Financial experts recommend having three to six months’ worth of living expenses in a regular savings account in case of emergency. If you’ve followed this advice and have reached your savings goal, don’t stop saving! Now’s a great time to consider other highest yield savings options that can help take your money to new heights.

The following savings vehicles from Navigator Credit Union can continue to help your money grow while still keeping it safe. Just like a regular savings account, they are NCUA insured.* Plus, you can keep tabs on these savings options just as easily as you can with your regular savings account. Here’s how they work.

Certificates of Deposit. One of the basic ingredients to a well-rounded savings plan is a certificate of deposit (or CD) that gives you a guaranteed rate of return – and that means peace of mind. CDs are high-yield deposit investments, with terms ranging from six months to five years. The interest rate for CDs tends to be higher than regular savings, which helps your money grow faster. If you are a new investor, take advantage of Navigator’s 1st Nvestor CD. For as little as $10/week, this CD gives you the opportunity to jump-start a savings plan at higher deposit rates without the requirement of a large opening balance.

Money Market Accounts. Add some muscle to your savings with a Money Market Account. This hard-working vehicle offers a higher rate than a Regular Savings Account and can be opened with an initial deposit of $2,500. Then, as your balance grows, your rate increases, too! It’s a smart way to save for a down payment on a home or to build an emergency fund as a financial cushion.

Individual Retirement Accounts (IRAs). Navigator offers traditional and Roth IRAs, two helpful ways to boost savings for your golden years. In addition to helping your funds grow safely, IRAs offer tax benefits.**

Find Your Highest Yield Savings Options

Opening other savings accounts with us combines safety with convenience. You can easily check your balance with online banking and make transfers between accounts. To learn more about our savings options and view our best savings account rates, visit www.navigatorcu.org, give us a call or stop by – we’ll be happy to talk with you.

*
NCUA insurance covers $250,000 per depositor, per legal account category.
**
This financial institution does not give tax advice. Consult your tax advisor for information specific to your situation.