You might be missing out on free money…
One of the simplest – and safest – ways to grow your wealth is to get the most out of your savings account. A fast way to do this is to switch to a credit union. Credit unions are nonprofit companies that act as local community banks. And credit unions offer much better rates than what you'll find at a bank.
If you keep your cash in a checking account at a big bank like Bank of America, you're probably making 0.01% in interest. That's not 1%. That's a hundredth of a percent.
But if you move it to a credit union, you can get much, much higher rates. Paid-up Retirement Millionaire subscriber T.E. recently sent us a tip that can help you get started…
I love reading through your newsletter and all the things I learn from it. Just wanted to make you aware that Lake Michigan Credit Union (lmcu.org) pays 3% on a checking account, up to $15,000. There is a donation (I think $5) to gain membership, and a few easily achieved requirements for the 3% yield. My wife and I live in Arizona and have been using it for a year now. Just thought you could pass on the opportunity to others.
The difference between making 0.01% and making 3% is massive… On a $10,000 balance, it's a risk-free $25 per month.
Have you claimed your free money yet? Let us know… e-mail us here.