Landmark Credit Union was established as a not-for-profit financial cooperative owned by its members in 1933. Offering services across Wisconsin and providing access to an extensive variety of straightforward financial solutions.
Landmark needed a solution that would offer a seamless experience across product lines, increase conversion and speed up application and onboarding processes – and Blend delivered in spades!
Money Market Account
Landmark Credit Union operates more than 30 branches throughout Southern Wisconsin and Northeastern Illinois to serve those living, working or attending school there. They also boast an expansive ATM network which is free for their members.
Money Market Accounts (MMAs) function much like savings deposit accounts, yet typically offer higher interest rates and check writing privileges. They usually have more withdrawal restrictions than regular checking and savings accounts ranging from six up to unlimited monthly withdrawals.
MMAs can be useful tools for short-term savings goals like emergency and sinking funds, or saving for intermediate financial goals like next year’s vacation or purchasing a car. Unfortunately, MMAs typically yield lower returns than investments such as long-term retirement accounts, while they can also be more volatile than savings accounts and CDs – so it is wise to compare rates before selecting one MMA.
IRA
IRAs allow individuals to save for retirement with tax advantages. Depending on your income level, contributions made to traditional IRAs may qualify for deduction, while earnings in retirement could remain tax-free when saved with a Roth IRA.
Self-employed individuals and small-business owners can set up Simplified Employee Pension (SEP) IRAs to help themselves and their employees save for retirement. These accounts have higher contribution limits than typical IRAs and require business owners to contribute an equal percentage of employees’ salaries directly into their own accounts.
Traditional IRA and 401(k) owners who reach age 70.5 must begin taking minimum required distributions (RMDs), although this rule has been altered over time. Your RMD amount depends on several factors such as your age and other considerations; plan ahead! For any uncertainty related to RMDs it would be prudent to consult a financial advisor.
Health Savings Account
HSAs can be an attractive option for those with high deductible health plans, offering triple tax savings: contributions are not taxed; account growth through interest or investment earnings does not incur taxes; and withdrawals made for qualified medical expenses can be taken out tax free. Maxine realizes keeping her family health care up-to-date can be expensive so she uses her FSA funds for things like hip replacement surgery for both herself and George as well as over-the-counter meds and kids doctor visits while her HSA provides her with savings for future needs as well.
LANDMARK CREDIT UNION provides residents and businesses in 35 Wisconsin counties, Lake and McHenry Counties in Illinois, as well as several locations worldwide with assets totaling $5 billion+. Established in 1933, they currently have 36 branches nationwide.
Youth Account
Youth Accounts provide children with an excellent way to gain money management skills and see firsthand the value of saving over spending. A youth account teaches children the value of saving by offering competitive interest rates on savings accounts.
Capital One has given great consideration to their youth banking offerings, and it shows. Their user-friendly mobile app and competitive 0.3% annual percentage yield (APY) on balances up to $500 make them an excellent option for growing your savings over time. Plus they offer tiered APY rates above this amount too – perfect for long-term savings goals!
Mequon Branch will utilize the prototype branch design created by Wisconsin Credit Unions and offer key amenities, including private offices for lending or more complicated transactions, three drive-thru lanes and an ATM deposit-taking machine. The facility is scheduled to open later this summer.
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