 What's Your Financial IQ? You can probably estimate your grade point average and might even be able to rattle off your SAT score, but have you ever thought about rating your Financial IQ? Whether you're balancing a checkbook, purchasing your first car, or paying for college, how you manage your money has an important impact. Forward Bound is designed for youth ages 13-17, to help you learn more about money management, investing, saving and use of credit. Our Forward Bound newsletter and Resources and Information section of this website also feature articles and links to help in your journey toward your chosen goals. And we sponsor C-Note University  , a website full of challenging games and activities. Are you College Bound? If you are looking for an inexpensive way to manage your finances at college, don't miss out on Our Student Starter Program. This package of services offers everything, from an Enhanced Checking account to a College Wise Loan, to get you off to a great financial start! Resources and Information Whether you're looking for information about balancing your checkbook, wondering how much you'll need to save to purchase a car, or selecting the perfect college, We're Here For You with useful links and advice. Financial Tips - Managing your checkbook - Want to keep better track of your money? This link provides valuable hints on managing and balancing your checkbook.
- Car loan payments - Use The Summit's handy loan calculator to determine your monthly payments and interest charges on a new or used car.
- Investing 101 - Check your investment knowledge with this short quiz.
- Saving for something special? - Use the Savings Calculator to create a savings plan.
- Educational Resources - Visit the Educational Resources section of our site for additional information about managing your finances wisely.
In the Classroom and In the Community Stuck on a school assignment? Visit these homework links: Volunteer your time in the community - Sponsored by the Monroe County Library System, this site provides links to over 90 organizations in the Rochester area. The United Way's Volunteer Connection is another great resource for volunteer opportunities. You can reach them at (585) 242-6474 or volunteer.connection@uwrochester.org.
Area Events and Happenings How to Select the Right School for You Selecting a college is an important decision. Use these resources to help you narrow your search: Educational costs continue to soar. Visit the links below for college entrance exam, financial aid, scholarship, and student loan information. How to Select the Right Job for You Interviewing for a job? Thorough preparation is key! Looking for a part-time job? This site includes information on labor laws, tips on finding a job, online resources, and links to related topics. Find a career that matches your skills and interests. Open an Account Today Special note to parents: To join Forward Bound, an individual must first establish Summit membership by completing a Membership Enrollment Application and returning it to The Summit with a minimum deposit of $5.00. Individuals under 18 years of age must have a social security number and an accompanying joint member 18 years of age or older on the account. If you'd like to be authorized to conduct transactions on your child's account, you'll need to complete the joint member information on the membership enrollment application.
Parents - Need help saving for future college costs?
Consider Coverdell Education Savings for your child. These accounts, formerly Education IRAs, offer great tax advantages for qualified education expenses. Call us at (585) 453-7030 or (800) 836-7328 extension 7030 for more information, or email the Member Service Center to request a brochure.
Coverdell Savings Accounts: If you're eligible, you can make contributions of up to $2,000 per year to a Coverdell savings account (formerly named education IRA's). Your earnings accumulate tax deferred, and any withdrawals you make to pay qualified education expenses are free from federal taxes. Qualified education expenses include college tuition, fees, books, supplies, equipment, services, and some room and board expenses at eligible educational institutions. Contact MEMBERS Financial Services for more information.
529 College Savings Program: All states sponsor tax-advantaged 529 college savings programs to help families save for future college costs. In general, college savings programs don't have any eligibility income limitations. There are two main types of 529 plans and each state's plan has its own terms and features. Prepaid tuition plans allow you to pay tuition in advance and lock in the cost based on today's tuition prices. These plans pool investments and aim to keep pace with tuition increases in your state. College savings plans allow you to save money in a special college savings account for tuition and fees, books and supplies, and certain room and board expenses. These plans provide variable rates of return based on the investments you choose from the available options. Contact MEMBERS Financial Services for more information.
This icon denotes a link to a third party site. Please click here to view The Summit FCU's Third Party Disclaimer.
Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency
|