DUBUQUE, Iowa–Dupaco Community Credit Union is using next week’s solar eclipse and the time until the next one appears in North America to put some sunlight on how savings can add up.
Noting the next solar eclipse won’t occur over the U.S. until 2044, Dupaco noted that $1 stashed away this year into a savings account that earns 1.8% interest (the average savings rate over the last 20 years) would be $1.43 in that savings account by August 23, 2044
“But, if a person deposits one dollar in that same savings account every day for the 20-year period between eclipses, they would have contributed $7,300 and earned $1,401.47 in interest for a total of $8,702.47,” the credit union said.
And that’s just the return on a low-rate savings account, Dupaco Community CU added, noting it also offers other investment options such as certificates, IRAs, money markets, and more.
‘May Sound Cheesy, But…’
“It may sound cheesy, but every single day, we look for ways to brighten the lives of our members,” said Chief Marketing Officer Dave Klavitter. “It’s our vision: ‘Building a brighter community for all.’ But seriously, we take great pride in helping our members figure out the best ways to save money and plan for their futures, whether their goals are small or large, short-term, or long-term.”
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