Tax season is ending, and we understand that a tax refund can lead to immediate spending. After all, there are so many things you can do with this money: go shopping, vacation with the family, renovate your home, or buy that new car you have been eyeing. However, investing money has endless possibilities and it is important to consider the long-term benefits.

First, a tax refund you received or plan on receiving this year can be used to build up an emergency fund, providing peace of mind knowing you have backup funds. A VacationLand FCU personal savings account will fit your needs and help you meet your financial goals. We have savings accounts for every member of the family, young and old. We can help you decide which account will be the right choice for you. Take our Financial Empowerment program on Savings Accounts to learn the basics and make an informed decision.

Next, an Individual Retirement Account (IRA) can have a significant impact on your retirement savings. You can earn compound dividends by contributing to these accounts and watch your money grow over time. We offer tax-free (Roth) and tax-deferred (Traditional/SEP) options that have competitive dividend rates and are insured up to $750,000. They include:

• IRA Share Savings Accounts. Earn dividends on balances of $100 or greater; free online banking and telephone banking; direct deposit and payroll deduction are available.
• IRA Share Certificates. Three months to five-year terms available, competitive fixed rates, and a safe investment with a guaranteed return.
• IRA Money Market Accounts. Enjoy a higher rate of return on your money, plus the flexibility you need to access your funds at any time.

Investing a tax refund in a retirement account is a smart way to boost savings and ensure a secure future. As usual, we suggest you consult a tax advisor or accountant for more information, as not everyone is eligible to contribute to an IRA.

To learn more about our share savings accounts, youth club accounts, or individual retirement accounts, follow these links.

Are you considering home improvements with your tax refund? You can stretch your budget even further with a HELOC. Right now through April 30, you can apply for a HELOC with an introductory rate of 7.50% for the first 12 months, and as low as 8.75% after that. Plus, you will have an opportunity to win $500 with our HELOC sweepstakes! Visit a local branch or give us a call today to discuss how to reinvest in your home with a HELOC.

Get your tax refund working for you today by visiting one of our five convenient locations in Huron, Norwalk, Sandusky, or Vermilion. If you are not already a member, take advantage of becoming a member from the comfort of your home today!