Growing your savings account balance can be as simple as sitting back and letting your money work for you – as long as you have the right tools in place. Continue reading to learn 4 simple ways you can boost your savings potential at SeaComm!
Regular Savings. SeaComm opens this account for you as a membership requirement when you join. Simply deposit and keep at least $5.00 in your account, and you may apply for all of the other services we offer! With a Regular Savings, you’ll have access to your account with an ATM or debit card. You’ll also enjoy competitive dividend rates!
Money Market. A money market account allows you to earn a higher yield on your funds, while still having flexible availability when the funds are needed. Unlike a Savings Bond or CD, money market accounts have no maturity date, and you can access the funds at any time, without a penalty! Dividends are paid to you on a tiered basis with a minimum deposit requirement of $100. Click here to learn more or speak with a SeaComm representative at (800) 764-0566.
Share Certificate (CD). Some savers prefer short-term maturity with investment flexibility, while others prefer to deposit their funds for a longer term to optimize dividends. SeaComm’s Certificates provide an excellent way to maximize dividends while investing funds for a fixed period of time!
You can select a SeaComm Certificate with the term that will meet your individual needs and earn a competitive dividend rate. You’ll be able to invest the dividends earned during the term of the certificate – so you actually earn dividends on your dividends! Or, if you prefer, you may choose to have the dividends transferred to your savings account on a monthly basis or at maturity. Click here to learn more!
Individual Retirement Account (IRA). There are plenty of reasons to consider opening an IRA with SeaComm!
- No minimum balance is required to open an IRA, and there are no monthly fees.
- In both Roth and traditional IRAs, the investments grow tax-deferred, which means that you owe nothing on your gains as long as the money remains in the IRA.
- IRAs allow individuals to contribute up to $5,500 per year, in addition to what you’re already contributing to a 401(k) or other employer-sponsored retirement plans.
- Although you shouldn’t withdraw money from an IRA before you retire, the IRS does allow individuals to take out money before the age of 59 ½ to pay for necessary expenses.
Are you interested in boosting your savings potential with any of these four options? Call us at (800) 764-0566 or visit your nearest SeaComm branch location, today!