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(BPT) - With interest rates on the rise, now is a great time to start saving. Whether you want to put away money for a large purchase — such as a down payment on a new home or to purchase a vehicle — or you need a secure way to generate a return on money you’ve already set aside, certificates of deposit (CDs) or high-interest checking accounts can be a solid option.
Often, the best rates on CDs and checking accounts aren’t always found at your local bank. Bellco Credit Union, a not-for-profit credit union based in Colorado that has been in operation for more than 80 years, offers some of the most competitive rates on CDs and checking accounts in the nation.
It’s a common misperception that in order to join a credit union and take advantage of the benefits and rates, people have to be a local resident or part of an organization that the credit union serves. However, many credit unions offer alternate forms of membership, and online banking has made it easier for people to manage their finances without ever visiting a branch.
For example, anyone in the U.S. can become a member of Bellco, and enjoy all of the benefits that come with it online, by visiting their website at www.bellco.org.* After joining, members can take advantage of high-interest-rate accounts, including:
CDs with high rates and flexible terms**
Bellco is the rate leader in CDs, offering several different options, including Regular, Jumbo and Index Advantage CDs, as well as youth CDs and IRA CDs. With various terms and a choice of fixed or adjustable rates, there’s a perfect option no matter your savings goals.
Boost Interest Checking***
This account pays a higher interest rate than most checking accounts — up to 2.25 percent APY — for doing the things people normally do with a checking account, such as making debit purchases, scheduling direct deposits and banking online. There is no minimum balance to start earning the highest rate, but the returns are greater the higher your balance, up to $25,000.
Still need more reasons to take advantage of high savings rates? Bellco is a financially stable organization, having received the Bauer Financial “Five Star Rating” as of December 31, 2016. Founded in 1936, Bellco is a not-for-profit organization, which allows them to return profits to its members in the form of higher deposit rates and lower loan rates. In addition, money donated by members to the Bellco Foundation helps support several national nonprofit organizations such as the American Red Cross, Bright Pink, American Legion and the American Heart Association.
If you’ve been thinking about how to start saving while also getting a high return, now is the time to explore and think outside of your neighborhood to find different savings options.
*Membership eligibility required to join and to open any Bellco account. Visit www.bellco.org for membership requirements. Your deposit dollars will be maintained and serviced in Colorado. Application for membership will be reviewed and a decision made in Colorado.
**Certain requirements apply to open a Bellco CD. To learn more about our CDs, visit Bellco.org/CDs, or call 1-800-BELLCO-1. Federally Insured by NCUA.
***APY = Annual Percentage Yield and is accurate as of 04/01/2017. The interest rate and APY may change after the account is opened. No minimum balance is required to open or to earn the advertised APY. Fees may reduce earnings. Visit BellcoBoost.com for more details about applicable fees and terms.