Building wealth is a life-long pursuit that can mean different things at different points in our lives. Throughout your life, your priorities change. Fortunately, Destinations Credit Union has financial services that can help you bank smarter every step of the way!
Different Stages, Different Financial Focus
Kids & Tweens
From your child's first savings account through their tween years, Destinations has a wealth of information and educational tools to help.
- Youth Savings – It's never too early to start establishing savings — especially when Destinations makes it this easy!
- Coverdell Education Savings Account – Kids dream BIG. Help them fulfill those dreams well into the future. This education savings account helps to keep the cost of college affordable down the road.
- "Spending, Saving & Make Your Money" – Teach children between 8 and 13 why caring about money should be important to them.
- Raising Money-Savvy Kids – Learn specific steps to take at different ages in your child's development to help ensure your child grows up money-savvy.
Teens & Young Adults
As you progress on to high school and college, you'll begin thinking about additional tools to accomplish your goals and manage your money. Here are a few ways Destinations can help:
- Establishing Credit – This is a major step in transitioning toward adulthood independence. However, responsibility is key to success. Learn how to establish credit the responsible way.
- Raising Money-Savvy Kids – Learn specific steps to take at different ages in your child's development to help ensure your child grows up money-savvy.
On Your Own
Young adults entering the working world need additional financial tools and education on financial options.
- Establish/Expand Banking relationship – Key to navigating financial success is building the right supporting infrastructure. Destinations offers several accounts, time-saving services — direct deposit and payroll deduction to keep money management easy and accessible.
- Budget Worksheet – Crucial to financial development is staying on budget. Destinations can help you develop a budget that allows for both saving and borrowing capabilities.
- Consolidating Debt – Now that you have a steady paycheck, you may want to consider consolidating your debt into one low interest rate loan to make paying down your bills faster and easier.
- Responsible Financing – This is also a good opportunity to consider finally getting rid of the junker that got you through school and buying a new car or buying a starter home or condo. We offer our members a very customized process, plus very competitive rates due to the fact that any profits earned are poured back into securing lower rates for you!
Family First
As young adults settle down, your focus shifts to marriage, family and buying a house, among other things.
- Financing a Home – When it comes to one of life's largest purchases, we're here for you. Get pre-qualified, calculate loan payments, learn home buying tips, common mortgage terms, and more by visiting our partners, Financial Security Consultants, or by checking out our mortgage section. Before you even get started, though, be sure to check out our Home Buying Education section to get even more home buying information.
- Capitalizing On Home Equity – Once you've built a bit of equity in your home, a home equity loan or line of credit can be a great tool for large purchases or home improvements.
- Broaden Your Savings – At this point, you're more established and focusing on the future of yourself and your family is important. Our Coverdell ESA, IRAs, and High Yield Accounts help you to capitalize on your wealth, while providing solid ground for your exact savings goals.
- Financial Planning & Investing – From discount brokerage services to full service financial professionals, Destinations can help you work toward your long-term and short-term financial goals.
- Insurance Coverage – Add peace of mind for yourself and your family. Take advantage of our several insurance resources, including a Family Security Plan, Auto & Homeowners Insurance, Accidental Death & Dismemberment Insurance, and more.
Empty Nest
As individuals age and they help prepare their children to go out on their own, your focus begins to look toward securing your own financial future, including retirement planning and planning to pay for things like weddings or higher education.
- Capitalizing On Home Equity – You've put a lot of hard work and money into your home. Capitalize on the equity you've established by transitioning it into financing for a family wedding, home improvements, or other large purchases.
- Financial Planning & Investing – From discount brokerage services to full service financial professionals, Destinations can help you work toward your long-term and short-term financial goals.
- Retirement and Estate Planning – You've put in hard work to be where you are now. It's time to cash in on a little bit of relaxation and peace of mind. We work closely with the CUNA Brokerage to bring you trusted expertise surrounding retirement and estate planning.
Resources for Any Age
Reaching Your Financial Destinations
Destinations Credit Union offers a blog, Reaching Your Financial Destinations, with a variety of topics aimed at helping you understand more about how things affect your financial life.
Make a Savings Plan
Saving is not only wise — it's crucial to securing future goals. Learn how to create a savings plan you can actually stick to.
Financial Building Blocks
Building wealth amounts to a series of ongoing decisions. Equip yourself with solid knowledge by reviewing 10 tips that can have a major impact in building financial success.
Avoiding Payday Lending
If you need a few bucks to tide you over until payday, you might be tempted to go to a payday lender. If you are tempted to go to a payday lender for some short-term cash, we would highly advise against it. Learn more about why PayDay lending is a bad idea when it comes to building your wealth.
National Endowment for Financial Education
When it comes to assessing your financial picture, sometimes it can be hard to know where to even start. The Smart About Money website offers sound advice in several different aspects of money management in a way that's very easy to understand and follow.
