Three Ways to Keep Your Money Safe & Growing

You work hard for your money. Now what are you doing to keep it safe and growing? With a little bit of strategy, get ready to earn quickly and confidently.

 

#1 – Store your money in an insured account.
Are you letting your money sit in apps like Venmo, PayPal, CashApp, and even your Starbucks account? While it may be convenient, you could be putting your money at unnecessary risk because many cash apps are not insured. Meaning if they go away, so does your money. Keeping your cash in an NCUA-insured credit union (like BHFCU!) protects your funds up to $250,000. The same goes for FDIC-insured banks. 

 

#2 – Find the right high-yield account for your needs.
Just because you want easy access to your cash doesn’t mean you shouldn’t be earning on it. BHFCU Money Market Accounts earnings start at 1.00% APY with fee-free access to your money. Compared to traditional savings accounts, that’s a lot!

 

Or maybe you’re ready to lock in your savings long-term for an even higher return. A Certificate allows you to earn higher rates by keeping your money put for a set timeframe. With BHFCU Certificates ranging from 6 months to 8 years and rates as high as 5.00% APY, there’s something for everyone.

 

#3 – Grow your savings by adding to it.
You’ve selected your high-yield account. Now it’s time to kick your savings plan into high gear. Set an attainable goal for yourself. Whether that’s putting $50 of every paycheck in your Money Market Account or planning to open a new Certificate with $2,500 at the end of the year, make a plan and stick to it.