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What are you saving for?
Create a plan that’s right for you and make it happen.

 

 

Emergency Fund Header Image

My Emergency Fund


Are you worried that you won't have enough savings to manage a sudden change like a job loss, or health crisis, or an unforeseen major expense? Your emergency fund is there when you need it, protecting your finances by covering unexpected life events.

Financial advisors recommend saving at least three times your monthly salary in an emergency fund.

The amount you save is personal. Make a savings plan that fits your budget, so you can realistically achieve your goal. Even if it seems like a stretch, you can be successful by saving slowly over time.

 

 

Emergency Fund "Next" Button

Emergency Fund Header Image

MY EMERGENCY FUND
Plan


How much do you want to save? Think about how much money you would need to cover your living expenses over an extended period (or pay for an unexpected, extremely large expense). Write down your emergency fund goal.

A calculator like this can help you plan your emergency fund savings. Enter your savings goal and how much you can afford to put aside each month. Experiment until you determine a comfortable savings installment amount and timeframe.

If you get a windfall like a tax return or a bonus at your job, why not put some (or all of it) toward your emergency fund? If you get a raise, you can increase your contributions, too.

Next, let's look at your account options.

 

 

Emergency Fund "Next" Button

Emergency Fund Header Image

MY EMERGENCY FUND
Account Options


Set up your emergency fund online, over the phone, or at your local branch. You can transfer money into your emergency fund on any schedule you choose. Consider skimming a portion right off the top of each paycheck for your emergency fund. Here are some account choices.

Member's Choice Club Account – Add funds automatically to build your savings, or make regular deposits yourself. You can withdraw money or transfer it into your Checking Account if an urgent need arises.

Money Market Account – As your balance grows, consider moving it to a Money Market Account to earn more. You'll earn more as you build your savings and retain access to your funds.

iSave Certificate – If you want to earn more – and resist the temptation to withdraw money for other purposes – think about diverting some of your deposits into an iSave Certificate.

Home Equity Line of Credit – Think of this option as a backup for your emergency savings fund. Your Home Equity Line of Credit can be a secondary source of funding during an emergency. Draw money only if you need it and pay it back monthly with interest.

 

 

Emergency Fund "Next" Button

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MY EMERGENCY FUND
Progress


Do what the "power savers" do. Track your progress by checking your emergency fund balance regularly. Stay focused on the comfort your emergency fund will provide, if your life takes an unexpected turn.

You can even set up alerts in your Connect-24 online account to email regular balance updates to you.

Interactive budgeting tools also make it easy to set goals and see your progress on the fly. Why pay for a subscription?

Money Management is FREE with your CAP COM account and can be used on any device.

 

 

Emergency Fund "Next" Button

Emergency Fund Header Image

MY EMERGENCY FUND
Success!


Think of CAP COM's associates as your personal success team. Let us help you save for a rainy day and enhance your financial wellbeing. The sooner you begin, the sooner you will be able to rest easy – knowing you're prepared for the unexpected.

Ready to set up your emergency fund? Review your options and open your account now.

Let us help. Remember, we're here for you.

 

 

Emergency Fund "I'm Ready" Button

Emergency Fund Header Image

MY EMERGENCY FUND
Get Saving!


Member's Choice Club Account – Add funds automatically to build your savings, or make regular deposits yourself. You can withdraw money or transfer it into your Checking Account if an urgent need arises.

Money Market Account – As your balance grows, consider moving it into a Money Market Account to earn more.

iSave Certificate – Think about diverting some of your deposits into an iSave Certificate to earn for a period of time (penalty for early withdrawal).

Home Equity Line of Credit – Consider this option as a backup or supplement to your savings. Draw money only if you need it (and repay it with interest).

 

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My Vacation or Splurge Fund


How would you like to enjoy a vacation, or splurge on a big purchase, without worrying about overspending or credit card debt? By saving in advance, you can cover your expenses and indulge worry-free!

Where to start? You can approach your savings with a deadline in mind, or simply save until you reach your goal. A calculator like this can help you gauge how much to save, at what frequency, and for how long.

When? How much you want to save will determine how far in advance to begin. Count on at least six months before your vacation or a costly splurge, and one to two years (or more) for larger outlays. Create a schedule that lines up with your paychecks.

Make room in your budget. Take a close look at your monthly expenses. Can you find ways to reduce day-to-day spending and impulse purchases, and direct that money towards your vacation/splurge fund instead?

 

 

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MY VACATION OR SPLURGE FUND
Set Your Goal


When estimating the cost of vacation, research your destination. List every expense you can think of: transportation, lodging, food, entertainment, etc. You might discover that prices are much higher (or lower) than you thought, and that you can save by shifting the dates of your travel.

The prices of expensive splurge items can fluctuate wildly, too. To estimate your savings goal and get a good deal later on, a price tracker can be helpful. Here is a list of online price trackers, if you want to check them out.

When in doubt, bump up your savings goal. It's better to have money leftover than to come up short.

Next, let's look at a couple of account options.

 

 

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MY VACATION OR SPLURGE FUND
Account Options


You can open your vacation/splurge account online or for assistance, call us at (800) 634-2340 or stop by your local branch. Think of your savings schedule as another bill, even though you are paying yourself. Stay focused and remember, we're here to help you reach your goal!

Member's Choice Club Account – It's easy to open a Member's Choice Club Account and set up automatic transfers to effortlessly build your savings (you can make regular deposits online, in-person, or by phone, too).

Money Market Account – As your balance grows, consider moving your funds into a Money Market Account to earn more. You'll earn more as you build your savings and retain access to your funds.

iSave Certificate – If you want to earn more on your savings, have at least 12 months to save, and will not need access to funds during that period, consider an iSave Certificate. This unique certificate accepts deposits.

 

 

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MY VACATION OR SPLURGE FUND
Progress


Tracking your savings online or with the mobile app is a great motivator. And, it's easy to set up alerts in your Connect-24 online account to email regular balance updates to you.

Money Management – free with your CAP COM membership – is a tool that enables you to interact with your vacation/splurge fund and other financial goals on the fly. Receive progress updates and celebrate as you go!

Win with a windfall. Yes, it's tempting to spend a cash gift, tax return, or work bonus right away. Yet, if you can reserve a portion for your vacation/splurge fund, you'll reach your goal that much faster. See your savings spike when you make an unscheduled deposit – it's thrilling!

Hands off. Keep your hands out of your savings cookie jar (unless it's an emergency of course).

 

 

Vacation Fund "Next" Button

Vacation Fund Header Image

MY VACATION OR SPLURGE FUND
Success!


Think of CAP COM's associates as your personal success team. Let us help you enhance your financial wellbeing and achieve your savings goals. The sooner you begin, the sooner you will achieve!

Ready to set up your vacation/splurge fund? Review your options and open your account today.

Let us help. Remember, we're here for you.

 

 

Vacation Fund "I'm Ready" Button

Vacation Fund Header Image

MY VACATION OR SPLURGE FUND
Get Saving!


Member's Choice Club Account – Add funds to build your savings and withdraw money when you need it.

Money Market Account – As your balance grows, consider moving it into a Money Market Account to earn more.

iSave Certificate – Think about diverting some of your deposits into an iSave Certificate to earn for a period of time (penalty for early withdrawal).

 

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My Home Improvement Fund


Update your living spaces and take care of costly home maintenance with less stress, when you have the money to pay for it. The sooner you start saving, the sooner you can enjoy the results.

To get started, make a list of home improvements and prioritize them. Designate one priority as your first project, then estimate costs with some preliminary research.

Here's a tool that can provide some rough figures. Consider padding your budget by at least 10% for unforeseen issues or add-ons.

Consider how much you can afford to save on a regular basis, after covering your typical household expenses. You might also want to explore whether it makes sense to borrow funds strategically.

Next, let's create your personalized home improvement savings plan.

 

 

Home Improvement "Next" Button

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MY HOME IMPROVEMENT FUND
Plan


How much to save? Make a plan with monthly installments that fit your budget, so you can stick to it and realistically achieve your goal. To save effortlessly, automate transfers into your home improvement fund.

What is your timeframe? A calculator can help you determine the monthly savings installment to reach your goal within a specific time. Play around with the numbers a bit. You can vary your monthly amounts and how long you plan to save to figure out a plan that's right for you.

Easy does it. If you're a few months in, and the amount you're saving feels uncomfortable, don't give up! Simply scale down your monthly savings amount (and extend your timeframe a bit), so you can continue to pursue your goal. The key to success is steadily saving money without squeezing your day-to-day budget too much.

Next, let's look at your account options.

 

 

Home Improvement "Next" Button

Home Improvement Fund Header Image

MY HOME IMPROVEMENT FUND
Account Options


When you're ready, you can set up your home improvement account online, over the phone, or at your local branch. Then, you can schedule automatic transfers into your home improvement fund on a schedule you choose – or make deposits manually. Here are some account choices.

Member's Choice Club Account – Add funds automatically to build your savings, or make regular deposits yourself. You can withdraw money or transfer it into your Checking Account if an urgent need arises.

Money Market Account – As your balance grows, consider moving it to a Money Market Account to earn more. You'll earn more as you build your savings and retain access to your funds.

iSave Certificate – If you want to earn more on your savings and won't need the funds for at least a year, consider making deposits into an iSave Certificate.

Home Equity Line of Credit – To supplement your savings, evaluate whether a Home Equity Line of Credit is right for you. You can draw money if you need it, and pay it back monthly with interest.

 

 

Home Improvement "Next" Button

Home Improvement Fund Header Image

MY HOME IMPROVEMENT FUND
Progress


Do what the "power savers" do. Track your savings progress by checking your home improvement fund balance regularly. You can do that online, with the mobile app, with a phone call, or at a branch.

It's easy to set up alerts in your Connect-24 online account to email regular balance updates to you.

Interactive budgeting tools also make it easy to set goals and see your progress on the fly. Why pay for a subscription?

Money Management is free with your CAP COM account and can be used on any device.

 

 

Home Improvement "Next" Button

Home Improvement Fund Header Image

MY HOME IMPROVEMENT FUND
Success!


Think of CAP COM's associates as your personal success team. Let us help you enhance your financial wellbeing and achieve your savings goals. The sooner you begin, the sooner you will achieve!

Ready to set up your home improvement fund? Review your options and open your account now.

Let us help. Remember, we're here for you.

 

 

Home Improvement Fund "I'm Ready" Button

Home Improvement Fund Header Image

MY HOME IMPROVEMENT FUND
Get Saving!


Member's Choice Club Account – Add funds automatically to build your savings, or make regular deposits yourself. You can withdraw money or transfer it into your Checking Account if an urgent need arises.

Money Market Account – As your balance grows, consider moving it into a Money Market Account to earn more.

iSave Certificate – Think about diverting some of your deposits into an iSave Certificate to earn for a period of time (penalty for early withdrawal).

Home Equity Line of Credit – Consider this option as a backup or supplement to your savings. Draw money only if you need it (and repay it with interest).