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Annual Meeting Scheduled for April 27th
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This year’s Annual Meeting will be held virtually on Thursday, April 27, 2023, at 2:00pm. We’ll discuss the current state of the credit union, 2022 in review, and vote on officers for the Board of Directors and Supervisor and Audit Committee members. The meeting is open to all members. To attend, RSVP to annualmeeting@psccu.org by Monday, April 24. Full details and a link for the virtual meeting will be sent on April 26 to those who are registered. If you need additional information or would like a copy of the 2022 Annual Meeting Minutes, email us at the address above. |
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12 Months to a Better Financial Future
Step 3: Start Saving!
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This year, we’re presenting a series called “12 Months to a Better Financial Foundation” on our Facebook page. Each month, we’ll share an easy step or two you can take to get your finances in better order. This month’s focus is saving but if you’ve missed the previous month’s steps, you can review those as well.
Step 3: Start saving!
If you aren’t already in the habit of saving, it can be hard to know where to start. If you are expecting a tax refund of any amount, that can be great seed-money. Otherwise, small and steady steps over time will help you achieve your goals.
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Emergency savings: If you don’t have any savings, start with an emergency savings account. No amount of money is too small: If you make regular deposits as small as $10–20 per week, by the end of the first year, you’ll have $500–1,000, and that’s a great start! Standard wisdom is to keep 3 to 6 months’ of income on hand —a lofty goal to work toward over 3 to 5 years or more. Emergency savings can be kept in a Savings or Certificate account.
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Retirement: If your employer offers a 401(k) with a match of any percent, sign up for the minimum amount to get the maximum employer match—it’s free money! Since the money you deposit into a 401(k) is tax-deductible, you can deposit a certain amount without noticing a drop in your take-home pay. If you don’t have access to a 401(k), start a Savings, Certificate, Roth IRA, or IRA account.
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Education: A Coverdell Education Savings Account (ESA) is a great way to save for qualified education expenses for your child, grandchild, or other minor. Contributions to a Coverdell ESA are not tax-deductible, but amounts deposited in the account grow tax-free until used for allowed education expenses.
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Special purpose accounts: Anytime you have a large, predictable expense coming up, it’s best to save in advance. Annual holiday or vacation expenses, a wedding, or other special event can each warrant their own account. Depending on how long in advance you are planning, the money can be deposited into a Savings, Club Savings, or Certificate account.
If you have some discretionary money and you can’t decide between paying down your high-interest revolving debt (like credit cards) or starting a savings account, do both! Establish what your combined budget is going to be and start out by putting 10% of the budget into the savings account and 90% to debt reduction. As your debt total goes down, you can start to shift that monthly difference into your savings account.
If you have questions about what type of savings account is right for you or how to better balance your budget and achieve your financial goals, contact PSCCU to schedule an appointment with a member service representative.
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Your deposits do more at PSCCU! |
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Whatever your savings goals, your money does more at PSCCU:
- GET GREEN: Take advantage of higher earnings rates
- GO GREEN: Help members reduce their carbon footprint and energy consumption
- GIVE GREEN: Support local businesses and environmental organizations
Do more with your money.
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Join us at the South
Sound Sustainability Expo on April 22
This year's community celebration of all things sustainability includes a clothing swap, free electronics recycling drop-off, interactive exhibits, food trucks, and more! Join PSCCU at this free, family-friendly event on Earth Day, Saturday April 22, 10:00am–3:00pm, at the UW Tacoma Campus and Tollefson Plaza.
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FOLLOW US ON FACEBOOK & INSTAGRAM @ PSCCU4you
Want to stay up to date with the latest news from PSCCU? Follow us on social media!
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Make deposits 24/7
No matter where you are or where you go, you can make a check deposit using your smartphone or tablet when you use our Mobile Banking app. When it isn’t possible or convenient to get to a branch to make a deposit, use Mobile Banking to deposit your check on your own time-frame.*
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* Deposits must be received before 3:00 PM PST, for same-day processing. Standard Funds Availability policy applies. |
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Federally Insured by NCUA • Equal Housing Lender |
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