3 ways you can show your money some love

Love is in the air, and we invite you to express that love in a unique way—by giving your hard-earned money the attention and care it deserves. In this blog post, we'll explore three financial strategies to nurture and grow your wealth.

1. Embrace the stability of Certificate of Deposit accounts for secure investing.

A Certificate of Deposit (CD) is a powerful tool for savers looking to secure stable and attractive returns on their investments. At Texas Tech Credit Union, we currently offer a competitive 6-month CD rate at a 5.15%¹ Annual Percentage Yield (APY). Here's why a CD might be the right choice for you:

• Guaranteed Returns: CDs offer fixed interest rates, providing you with a guaranteed return on your investment over the specified term.
• Low Risk: As a low-risk investment option, CDs are insured by the NCUA up to a certain limit, offering you peace of mind.
• Short-Term Commitment: With our 6-month CD option, you can enjoy the benefits of higher interest rates without tying up your funds for an extended period.

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2. Take your savings to the next level with the versatility of Money Market accounts.

Another excellent avenue to grow your money is by opening a Money Market Account. Our Money Market Account is a competitive 2.25%² APY, making it an attractive option for those seeking a balance between liquidity and growth. Here are some key advantages:

• Higher Interest Rates: Money Market Accounts generally offer higher interest rates compared to regular savings accounts, helping your money work harder for you.
• Accessibility: Enjoy the flexibility of accessing your funds while still earning competitive interest, making it an ideal solution for short-to-medium-term financial goals.
• Security: Just like our CDs, our Money Market Accounts are insured by NCUA, providing a secure environment for your savings.

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3. Set up direct deposits to your Money Market Account.

Optimizing your financial wellness involves more than just choosing the right savings vehicles—it's also about managing your income efficiently. By setting up Direct Deposits to go straight to your Money Market Account, you can enhance the effectiveness of your financial strategy:

• Automatic Savings: Direct Deposits ensure a seamless and automatic transfer of funds into your Money Market Account, promoting consistent and disciplined saving habits.
• Earn Interest from Day One: With your income flowing directly into an interest-bearing account, you start earning returns on your money immediately, maximizing the growth potential of your savings.
• Reduced Temptation: By diverting your income straight into a money market account, you reduce the temptation to spend impulsively, fostering a more disciplined approach to your finances.

At Texas Tech Credit Union, we believe that a well-rounded financial strategy is key to achieving lasting financial wellness. By opening a Certificate of Deposit, utilizing our competitive Money Market Account, and setting up Direct Deposits, you can embark on a path towards financial security and prosperity. Contact us today to explore how these options can be tailored to meet your unique financial goals.

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^{1 Rates effective 10/16/2023.  APY = Annual Percentage Yield. Fixed-rate. For current rates, call 806-742-3606 or visit xcslscl.com/rates. Rates subject to change based on account balance criteria. Fees may reduce earnings.
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2 Rates effective 11/20/2023.  APY = Annual Percentage Yield. For current rates, call 806-742-3606 or visit xcslscl.com/rates. Rates subject to change based on account balance criteria. Fees may reduce earnings.}

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