In the banking industry, financial institutions offer a full array of investment products and services to meet your wealth management needs. Take a moment to read about the tools available to help you increase your wealth.
Money Market Accounts: A Money Market Account is an interest bearing savings account for investors who want to earn interest and have instant access to their money. There is no monthly fee when the minimum balance is maintained.
Certificate of Deposit (CD): A CD is a certificate issued by a financial institution which indicates that the investor has deposited a sum of money for a specified period of time and at a specified rate of interest. When the time period is up, the CD matures and the investor gets the full amount back, plus interest.
Individual Retirement Account (IRA): An IRA allows an investor to save money for use in retirement while deferring taxes on the account’s earnings. Deposits for traditional IRAs are tax deductible and the investment earnings in the account are not taxable until withdrawn.
Certificate of Deposit Account Registry Service (CDARS): With CDARS, an investor can receive up to $35 million in FDIC protection. There are few guarantees in life - FDIC insurance is one of them. Participating financial institutions can offer CDARS because they are members of a special network. When investors place a large amount of money with these network financial institutions, the funds are placed into certificates of deposit issued by other banks in the network - in increments of less than $100,000 - so that both your principal and interest are eligible for complete FDIC protection. The investor does not need to open multiple accounts at multiple banks, manage various interest rates, organize interest disbursements from various sources, or manually consolidate monthly statements.
At Liberty Savings Bank, we believe that to take advantage of all available opportunities, investors need two things: an understanding of which investment products are most appropriate for their situation and a relationship with a trustworthy representative who has a clear understanding of their needs.
Contact your nearest Liberty Savings Bank Financial Center for more information about these products and more.
