MONEY MARKET ACCOUNTS VS. SHARE CERTIFICATES
Whether you’re saving for something specific, like a vacation or a wedding, or just looking to get more returns on your money, savings accounts like money market accounts or share certificates are dynamic options to help you invest in your future. Choosing a savings account is all about what works best for you and your finances, so let’s weigh the benefits.
Money market accounts are great options for people who want the great rates of a savings account with the accessibility of a checking account. You can benefit from getting higher returns on your deposits, and still have the flexibility of accessing your funds when you need them. There is no term on a money market account, so you can keep it for as long as you need.
A share certificate may be a good option if you don’t foresee having to withdraw any funds before its maturity date. Share certificates also have a fixed rate, so you’re guaranteed the rate you signed up for. Plus, with terms ranging from 6 months to 5 years, you get a wide range of investment options.
Whether you’re an undergraduate, career training, or graduate student, student loans from Suncoast in partnership with Sallie Mae® could help! student loans are designed to meet the needs of all types of students. Plus, the graduate loan suite is designed to meet the needs of students in specific fields of study. Find out which loan is right for you at suncoastcreditunion.com/student.
SUMMER 2023
up to at
$250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration. Equal Housing Opportunity. IN THIS ISSUE: Money Market Accounts vs. Share Certificates Get the Funding You Need for School
Pays Even More to Have Friends Let Your House Love You Back Jet Skis, RVs, and Boats, Oh My!
Importance of Having a Financial Plan New Enhancements to SunNet and SunMobile Insights Preparing for Hurricane Season
Every Hit is a Win with Suncoast! Service Center Updates
Your savings are federally insured
least
It
The
Introducing
suncoastcreditunion.com/savings to learn more and choose the best savings option for you.
Visit
Competitive variable and fixed interest rates No origination fee or prepayment penalty* *Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
GET THE FUNDING YOU NEED
IT PAYS EVEN MORE TO HAVE FRIENDS
You may have heard about Suncoast’s Refer-A-Friend Program: every time one of your friends opens a Suncoast account and becomes a member using your personalized online link, you’ll both receive a gift card. We’ve recently increased our reward amount from $25 to $50!
*For the Referrer and their Referee to qualify for the $50 referral reward, they must be over the age of 18. The Referee must open a new membership and checking account at the time of membership opening with an annual percentage yield of 0.05% and 0.01% respectively. The participant must fund the account with a $25 minimum deposit within 30 days of account opening and keep $25 in the checking account for at least 30 days to receive the $50 referral reward. Minimum deposit required for membership of $5.00. The referral rewards will be sent to you via digital gift card within 30 days of account opening.
Home ownership means that the equity in your home is there for you if you need funding for things like home improvement projects or debt consolidation.
Home equity loan options let homeowners leverage the equity in their homes to borrow money. It’s a great way to fund your home improvement projects, pay off credit card balances or consolidate debt, with a single payment and a lower interest rate.
Choosing the right option depends on your needs. With flexible terms and rate options, we’re here to help you pick the best one for you.
SKIS, RVS, and BOATS, Oh My!
With summer in full swing, you might be feeling the urge to get out and explore the beautiful Florida landscape. From the land to the sea, Suncoast has you covered: we offer loans and financing on RVs, boats, motorcycles, jet skis, and ATVs so you can explore all summer long. Whether buying for the first time or refinancing from another lender, we’re here to help you fund your next adventure!
JET
ATVs BOATS RVs JET SKIS MOTORCYCLES Visit love.suncoastcreditunion.com to learn more.
www .suncoastcreditunion.com/ where-to-next
LET YOUR LOVE YOU BACK
Subject to term and credit qualifications. Membership and/or participation fees may apply. Inquire about specific fees for a product through your credit union.
THE IMPORTANCE OF HAVING A FINANCIAL PLAN
Financial planning is an important way to invest in your future, and it’s a better way to get qualified financial advice. The process involves taking a holistic view at your finances (including a full audit of your values, financial goals, and main concerns) that will guide financial recommendations. If you have a source of income and outbound expenses, you’ll benefit from a structured financial plan. Here’s how:
Understanding how your financial decisions impact your financial success
Be prepared to recalibrate when big life events happen
Create thoughtful strategies that account for your long-term financial goals
Understand what you need to do to improve your financial future
Visit our Suncoast Investment Services* website at invest.suncoastcreditunion.com to learn more
NEW ENHANCEMENTS TO SUNNET and SUNMOBILE INSIGHTS
Members who use the Insights financial feed in SunNet and SunMobile are now able to select which accounts they want included in their Insights feed! For example, you may want to exclude your kid’s account from your own Insights. Here’s how to do it:
Log into SunNet or SunMobile and select Insights. The Insights page loads. Click the toggle icon in the top right.
invest.suncoastcreditunion.com
*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Suncoast Credit Union and Suncoast Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Suncoast Investment Services, and may also be employees of Suncoast Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Suncoast Credit Union or Suncoast Investment Services. Securities and insurance offered through LPL or its affiliates are:
An Account Controls page opens where members can select the accounts to include or exclude from their feed.
If there are changes, then a prompt opens that asks members to confirm the updates.
Click Yes, continue for the change to occur.
Suncoast Credit Union provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay Suncoast Credit Union for these referrals. This creates an incentive for Suncoast Credit Union to make these referrals, resulting in a conflict of interest. Suncoast Credit Union is not a current client of LPL for advisory services. Please visit LPL.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
You can update your preferences of accounts to include in Insights at any time. Insights and your financial feed will reflect the changes moving forward from when the changes are made, and not retroactively with certain monthly insights already generated.
Not Insured by NCUA or Any Other Government Agency May Lose Value Not Credit Union Deposits or Obligations Not Credit Union Guaranteed
cost!
and meet with a professional at no
1 2 3 4 5
PREPARING FOR HURRICANE SEASON
Whether it’s your first hurricane season in Florida or your twentieth, it’s important to be prepared ahead of time so your family will be safe if a disaster strikes. Here are some tips to help you get ready for hurricane season:
Make a Hurricane Plan for your family. It’s important that you and your loved ones are on the same page about what to do in case of a hurricane. Plan evacuation routes, make a communication plan, and have printed contact information for each family member.
INTRODUCING EVERY HIT IS A WIN WITH SUNCOAST
Protect your home. Make sure you understand your insurance coverage in the event of a hurricane. If you aren’t adequately protected, you may want to consider additional insurance coverage.
Keep a supply stash. It’s smart to buy hurricane supplies at the start of hurricane season so you’ll be prepared in case of an emergency. Shopping for supplies can be hectic right before a big storm, so early preparation can make life much easier.
Suncoast has had a longstanding partnership with the Tampa Bay Rays, and this year, we’ve added a new program to help raise funds for local nonprofit organizations! The program is called “Every Hit is a Win with Suncoast” and here’s how it works: every time a Rays player gets a base hit during a game, Suncoast donates $78 in honor of our 78 branches across Florida. We collect those donations throughout the month and donate the total amount, up to $15,000 per month, to three local nonprofit organizations. The donations are divided up based on your votes, so be sure to visit our Facebook page to cast yours!
SERVICE CENTER UPDATES
Suncoast Credit Union is now in Osceola County! Our new branch, located at 1221 W. Osceola Parkway, Kissimmee, FL 32741, opened its doors in May and is now serving the Orlando/Kissimmee area.
We have two more branches opening soon in Orlando, so stay tuned for more information!
