Last updated 1 day 20 hours ago
The Bill Pay & Presentment program at NSWC Federal Credit Union is a free service offered to all our online users. Through BP&P, NSWC will handle payment of your bills via either check or electronic transfer. Once you have entered a payee, you can choose to send a one-time payment or set up recurring payments. You can add and remove payees at any time. BP&P also allows you to add or remove multiple checking accounts to fund your payments. Email notifications can be easily scheduled to keep you apprised of due dates and payments received, or you can choose to have your bills presented to you through the online system for review. If you have questions about payments sent via the BP&P program, our member service department will be happy to assist you at any time.
NSWC Federal Credit Union’s Bill Pay & Presentment program will ensure that no payment is ever forgotten or lost. If you would like to learn more about the member services offered at NSWC Federal Credit Union, please call (877) 274-2805. Check us out on the web to find out how we can help you manage your money wisely.
Last updated 4 days ago
When you are young, saving for your retirement may seem unnecessary. However, planning for your retirement starting in your 30s is an excellent way to ensure you will enjoy a comfortable lifestyle when you are ready to stop working. Keep reading to learn some simple but powerful tips for planning your retirement now rather than later.
Stick To Your Plan
Once you have developed a retirement plan, the key to success is to stick with it. Design a plan that you can comfortably follow and avoid the temptation to put off investing in your future in lieu of immediate rewards. If you need motivation, create a chart that shows your savings as they compound over time to remind you that saving now will reap great rewards later. Setting up an automatic transfer from your savings or checking account into your retirement account can also ensure that you do not forget—or neglect—your nest egg.
Utilize “Free” Money
Many employers offer matching funds when you contribute to your 401(k). Even if the matched percent is not large, taking advantage of these additional funds can help you meet your retirement goals. Additionally, look into the tax incentives you will gain by contributing to retirement plans such as an IRA, 401(k), or 403(b). These tax breaks can help your financial contributions make a bigger impact.
It can be tempting to put off funding your retirement in order to pay for a new car, a new home or even a college education. However, funding your retirement should be a top priority before many other expenses. Remember that there are many other ways to finance large purchases and the costs of a college education, including loans, grants, and scholarships.
If you are ready to begin saving for your retirement, NSWC Federal Credit Union can help. We offer a variety of savings options, including IRAs, to help you improve your retirement outlook. Click through our website or call (877) 274-2805 for more information about our account options.
Last updated 8 days ago
If you are looking for ways to save money, cutting non-essential items and services from your budget can improve your financial portfolio. This short video offers a number of easy and painless tips for reducing your expenses. Cut down on your purchase of paper products by using cloth napkins and writing lists and notes on the back of used paper or envelopes. Purchase a reusable water filter rather than bottled water for drinking. You can also limit unnecessary spending by canceling your gym membership, cable subscription and landline if you have a cell phone.
Are you looking to improve your personal savings? NSWC Federal Credit Union offers a variety of savings options with opening balances as low as one dollar. Contact us at (877) 274-2805 or click through our website for more information about our member-owned credit union.
Last updated 11 days ago
Are you ready to buy a car? The right information can make this experience less daunting and ensure you get the deal you are after. Whether you are a first-time buyer or an experienced consumer, these secrets can help you get the most from your automobile purchase:
Do Your Research
A little bit of research ahead of time can make a big difference when you are ready to buy a car. Before you visit the dealership, look up information such as the trade-in value of your car, the average price others are paying for the car you want, and your credit score. This information gives you a stronger position when you sit down to discuss a price. You should also research the warranty options offered with your vehicle and know which, if any, you’d like to purchase.
Know Your Budget
Calculate your car budget and stick to it. Remember that your budget should include not only your monthly car payment, but the cost of insurance as well. Ideally, your car payment should not be more than 12% of your post-tax income. Remember that your car payment will include interest as well as the principal amount you are borrowing. New cars depreciate in value quickly, so aim to pay off your loan sooner rather than later.
Avoid Emotional Decisions
Car dealers count on buyers to become emotionally attached to the car of their dreams. Avoid making emotional decisions, which may cause you to spend more than you have budgeted for your car. Bring along a friend or family member who can offer support and logical advice when needed to keep your decision grounded. Acting as if you are not ready to make a commitment—even when you know you are—can often help you get a better deal.
If you are in the market for a new car, NSWC can offer a vehicle loan with simple interest and no hidden charges to help you stick to your budget. Call (877) 274-2805 speak with a staff member or click on our website for more information about our great low rates!
Last updated 1 month ago
When you are ready to start saving for retirement, opening an IRA—or Individual Retirement Account—is one of the smartest steps you can take. An IRA is basically a savings account that permits you to keep money on hand for retirement and let it earn interest largely without being taxed. Read on to learn about the different types of IRAs.
Traditional IRA. With a traditional IRA, in most cases you do not pay any taxes on your money until you withdraw it upon your retirement. However, your contributions may not be completely deductible if you are already covered by a work retirement plan or if you make more than a certain amount of money.
Roth IRA. A Roth IRA is essentially the opposite of a traditional IRA; that is, it is funded out of your earnings that are left over after taxes, but you will not pay any taxes when you withdraw it after retiring. Unlike a traditional IRA, contributions to your Roth account are not tax-deductible.
Which type of IRA should I choose? The answer to that question depends on your individual circumstances. If you have a work retirement plan, you will not be able to make fully deductible contributions to a traditional IRA, so a Roth IRA will probably be better for you. If your annual earnings exceed a certain level, you will only be eligible for a traditional account. If you expect to be in a higher tax bracket when you retire, a Roth IRA will be more beneficial for you; otherwise, a traditional IRA will probably net you more savings.
If you are interested in opening an IRA, call (877) 274-2805 to talk to the friendly financial experts at NSWC Federal Credit Union. We offer several different retirement account options, and we will be happy to help you determine which plan will be best for you. For more information about our financial services, visit our website.