In the community centered tradition of a credit union, bridgewater is managed and controlled by its active members, serving their banking and lending needs. The Bridgewater CU has been serving residents of the counties of Plymouth, Bristol, Norfolk and Barnstable in Massachusetts for over sixty years, and is a chartered institution in these counties.
Benefits
Because it is a non-profit organization, members feel safer with Bridgewater and have access to competitive interest rates on personal, auto, and home loans, as well as lower interest rate credit cards, and other benefits. Any person living in the eligible counties may make a deposit and open an account. As listed above, counties include Bristol, Norfolk, Barnstable and Plymouth. Membership means the individual is part of a network of over 27,000 people whose combined assets total more than $290 million dollars.
No matter the need, the full financial services of bridgewater credit union can help. From retirement planning to savings and checking accounts, participation in the credit union also gives the member eligibility to receive monthly profit sharing dividends. Besides profit sharing, members receive higher returns on their deposits in general. As a non-profit organization, interest earnings are not eaten up by bank profits or fees. Instead, everyone is working for the same purpose; the largest and safest return on their investment.
Easy to Use Tools
Informative guides and calculators for determining mortgage payments and long term savings goals are made available on the Bridgewater website. With the help of a financial planner, these tools can be used for a better understanding of how different rates and payments affect the individual’s future.
Three available calculators are the ‘retirement planner,’ savings and T-Bond calculator. The first assists the member in learning how much they will need to have a secure retirement. It shows the balance of the retirement savings and the amount of withdrawals until retirement’s end. This tool can also take social security of the account owner and spouse into consideration.
Fields to input for accurate estimates include current age and household income, expected rate of return and percentage on income being contributed, and number of years before retiring. The end result determines how much is needed to retire on time and comfortably. Savings calculators take into account the initial deposit, monthly contributions, and expected interest rate over a specified period of time.
Understanding
The mission of the bridgewater credit union is to help members understand their money and receive the most benefit from the institution over time. Through the use of professional staff and interactive tools, the rate of savings can be anticipated based on inflation and the performance of different investment vehicles.
For best results, spread funds across a CU savings account, mutual funds, bonds, or stocks. Shop loans carefully to avoid paying too much in interest charges, and use the online access to accounts through bridgewater’s website to monitor progress.
Utilize the member benefits to turn coins into cash, allowing the money to earn interest instead of sitting in a jar. To get started with retirement planning, make an appointment with a financial planner at a local branch today and plan for the future.
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