For over 90 years, Navy Federal Credit Union members have enjoyed the perks of membership, including great rates on their savings accounts, and helpful guides on setting aside money for the future. Our members know that having a robust savings account to draw on when times get tough can be the difference between a temporary setback and a major lifestyle downgrade.
However, savvy individuals and families also know that they can take their financial preparations to the next level by supplementing their savings with an investment strategy, making their money work for them while keeping an emergency fund quickly accessible for unexpected expenditures.
It’s no secret that NFCU has competitive rates on member savings accounts. With a minimum deposit of only $5.00, members can earn 0.25% APY with the peace of mind provided by a federally insured savings account you can access anytime.
For those who can afford to diversify their assets and are looking to have their money go a little further, a pivot from a savings-only strategy to a savings and investment-focused portfolio is the next step. The overall gains can be substantially greater, and the additional funds can help build a nest egg beyond a simple financial safety net that could eventually create generational wealth for your expanding family.
So where do you start? No matter what your skill level, Navy Federal’s educational resources are a valuable addition to your financial library, covering things like Basic Investing 101, Crypto Currencies, and The Stock Market, as well as outlining different investing strategies and risk profiles for different investors. There’s something for everyone at every stage of their investment journey.
Once you’re confident and ready to upgrade your savings strategy, Navy Federal Investment Services (NFIS) has several different options to choose from, whether you’re a seasoned hands-on investor or just starting.
The Navy Federal’s Digital Investor is a low-cost online investing tool that makes it easy for members to stay on top of their financial activities and choose the level of direct control they’d like to exercise over their portfolio.
Experienced users can choose a self-directed account to control their investments, take advantage of market reports to build stock and ETF packages, and buy whole or fractional shares, and pre-built bundles selected by seasoned financial institutions. NFCU also offers traditional and Roth IRAs for those focused on creating a viable retirement nest egg separate from their normal savings account.
Newer investors or those that prefer a more hands-off approach can select an automated account, selecting their savings goals, preferred strategy, and rebalancing options, then letting NFIS’ digital advisor build a portfolio tailored specifically to their needs.
For members with an active duty checking account, fees are just $2.50 per month and include self-directed commission-free trades for up to 2,000 shares per month. Additional shares trades are just $.01 after that, with no investment minimums.
Still unsure which direction you’d prefer to go? No worries. Navy Federal lets you easily compare plans, rates, and fees so you can rest easy knowing your financial situation is handled exactly how you want it.
With no minimum balance requirements, you can invest as little as $1 per share. Those members who value guaranteed returns and have the ability to put money away for a set period of time can take advantage of NFCU Certificates, which are ideal for short and mid-term savings goals, providing reliable earnings at intervals pre-selected by you and at rates typically higher than you’d receive from a simple savings account.
Kids getting older? College may be looming on the horizon, and with it, potentially large tuition, housing, and other expenses. NFIS offers 529 plans specifically for K–12, apprenticeship training, and college costs. The funds can be used for tuition, room & board fees, supplies and more, and the funds grow on a tax-deferred basis.
Education savings plans are also available and can be used to supplement a 529 plan, growing your money tax-free with the ability to contribute or access your money anytime.
Don’t let uncertainty stop you from taking control of your financial future. Upgrade your savings strategy today and start building a solid foundation for the next big adventure.
This article is sponsored by Navy Federal Credit Union. Navy Federal Credit Union is federally insured by NCUA.
Navy Federal Financial Group, LLC (NFFG) is a licensed insurance agency. Non-deposit investments, brokerage, and advisory products are only sold through Navy Federal Investment Services, LLC (NFIS), a member of FINRA/SIPC and an SEC registered investment advisory firm. NFIS is a wholly owned subsidiary of NFFG. Insurance products are offered through NFFG and NFIS. These products are not NCUA/NCUSIF or otherwise federally insured, are not guaranteed or obligations of Navy Federal Credit Union (NFCU), are not offered, recommended, sanctioned, or encouraged by the federal government, and may involve investment risk, including possible loss of principal. Deposit products and related services are provided by NFCU. Digital Investor is offered through NFIS. Financial Advisors are employees of NFFG, and they are employees and registered representatives of NFIS. NFIS and NFFG are affiliated companies under the common control of NFCU. Call 1-877-221-8108 for further information.