WASHINGTON — With “America Saves” week, Feb. 24-March 2, comingto a close, CUNA President/CEO Dan Mica listed some of the bestways for Americans to build their savings.
“The daily reports of people falling behind on credit cardpayments and mortgages should drive home the point that people needto have savings, rainy day funds, backup,” said Mica. “One of theadvantages of having money transferred automatically into a savingsaccount is that you never miss it.”
Mica furthered explained that savings can benefit greatly fromcompound interest, observing that “just $50 a month, invested at ayield of 5%, will turn into more than $76,000 over 40 years.”
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
