Tip of the Month

April 2008

Now sure what to do with your tax refund?

Instead of spending your tax refund this year on something that may not last beyond today, why not consider putting it towards something that will help make your financial future grow?

• Make an extra credit card or house payment to reduce your interest costs.
• Open a Service 1 FCU certificate of deposit and earn a higher rate of return on your investment.
• Contribute to a Service 1 FCU Traditional or Roth Individual Retirement Account (IRA). Put your tax refund into an IRA for the following tax year for a potential tax deduction.*
• Invest in your children’s future by opening a Coverdell Education Savings Account. This is a great way to start saving for college and earn a potential tax deduction.

*You may not be eligible for a tax deduction, contact your taxes specialist for further details.