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Are you trying to grow your savings, but unexpected expenses keep wiping it out? How would you like to be able to save that money and spend it at the same time?
Here at Roanoke Postal we thought this would be a great opportunity to help our members get a Jump Start with their savings.
Here’s how it works:
Bring us your savings up to $2,000. We’ll open a special Jump Start Savings account for you and deposit your savings into your new account. For example; let’s say you have $600. We hold your $600 deposit and lend you $900 (150%). You pay us back in equal installments over the next 12 months. If you’re paid bi-weekly, your bi-weekly payment would be $46.42. At the end of the twelve months, your loan will be paid off, your Jump Start Savings balance will be more than $860, and you can now borrow up to $1,290 (150%) or choose not to borrow and continue to save on your own.
Here’s how to qualify:
* Be a member in good standing with RPEFCU.
* Be on the job for at least one year.
* Have your direct deposit coming into your Roanoke Postal checking account.
* Have your Jump Start payment automatically deducted from your Roanoke Postal checking account.
We understand that saving is difficult. Hopefully this will be a way to give you a jump start and stimulate your savings.
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