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For the savvy saver in Indiana, understanding how your money grows in a credit union account is crucial. Two key terms play distinctly different roles in determining the growth of your investments. Let's dive into what each term means and why often come into play: Annual Percentage Yield (APY) and Interest Rate. While they may sound similar, they knowing the difference is vital for your financial strategy.
Read MoreWhen it comes time to save or borrow money, the choice between banks and credit unions can be pivotal. For many in Indiana, this decision is influenced by a fundamental factor: interest rates. Specifically, how do banks and credit unions like Encompass Credit Union compare in this arena? Let's delve into the differences, the reasons behind them, and why credit unions often emerge as the superior choice for your financial needs.
Read MorePlanning for the holiday season can be a lot of fun, but it can also be a source of stress, especially when it comes to finances. One way to alleviate this stress and ensure a joyful holiday season is by starting a Christmas Club Account, a type of Club Savings Account designed to simplify your holiday budgeting.
Read MoreThere are so many milestones in life that you’ll want to enjoy, and a lot of them require financial planning to become a reality. For example, many people want to know how to budget for a wedding or how to budget for the vacation of their dreams, but they just aren’t sure how to get started. If you don’t think you have enough money to do the things you want to do in life, then you definitely need to start budgeting. It helps you prioritize your spending in a way that ensures you will have the money you need for the things you want, and it will keep you out of debt — or assist you in moving out of debt — if you have already accumulated some.
Read MoreIn a landscape where economic stability is a cornerstone of a well-rounded life, the foresight to plan for retirement emerges as an indispensable facet of responsible financial management. As individuals navigate the complexities of personal finance, securing a stable future becomes paramount, and this quest invariably centers on shrewd retirement planning. Amidst a myriad of investment avenues that promise financial growth, the prominence of Individual Retirement Accounts (IRAs) shines through, presenting themselves as not just an option but a linchpin in the pursuit of wealth accumulation and ensuring a secure post-work life.
Read MoreIn our modern society, where connections are digital and distances seem to shrink, the value of a close- knit and thriving community cannot be underestimated. As members of Howard, Tipton, and Clinton counties, Encompass Credit Union feels strongly about community support, offering actionable ways to make a tangible difference. From the exciting Tipton County Fair to the heartwarming ’Tis the Season event, and everything in between, Encompass empowers their employees—and you—to play an active and meaningful role in nurturing and enriching our community for the good of all.
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