Launchpad Savings Account
Start saving for retirement a little at a time
Sometimes the hardest part about saving for retirement is getting started. Launchpad helps you start saving at your own pace—so you can take control of your future one small step at a time.
How it works
Get your retirement savings off the ground
A Launchpad savings account can be a great way to start saving for retirement if you aren’t ready to invest in a retirement account or don’t have access to an employer retirement plan, like a 401(k). Here’s how Launchpad works:
*You have 90 days to move the funds into a Dupaco IRA or Dupaco Financial Services IRA. The withdrawal penalty is waived if the funds are transferred to an IRA. If the funds are not moved into one of these accounts within 90 days of reaching the $1,000 balance, the account will be closed and the funds will be deposited, less a $5 fee, into your share savings account.
|Account Type||Dividend Rate||Annual Percentage Yield (APY)1||Min. Balance||Max. Balance|
|Rates are effective as of 07/01/2023 and are subject to change without notice.
1Launchpad Savings Rate: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. The dividend rate and annual percentage yield may change after account opening. Fees could reduce earnings on the account.
Limitations: If there is no deposit to this account in any 90-day period, account will be closed and the funds will be deposited, less the $5, into member's share savings. Once the balance reaches $1,000 you have 90 days to move the funds into a Dupaco Financial Services IRA. If the funds are not moved into one of these accounts within 90 days of reaching the $1,000 balance, the account will be closed and the funds will be deposited, less the $5 fee, into member's share savings. A $5 penalty applies for each withdrawal from this account. The penalty is waived if the funds are transferred to an IRA. This is not a retirement account and there are no tax benefits on this account.
Types of retirement plans explained
A Launchpad Savings account can be a great way to start saving for retirement. As you build momentum, you may want to work with a trusted financial advisor to create a savings and investment strategy that fits your goals and budget. In the meantime, here’s a look at some of the most common retirement plans:
Resources to help you start saving for retirement
- Savings Dividends
Estimate how much money you’ll have in your savings account in the future.
- Save toward a goal
Determine what you’ll need to save each month to reach your next big purchase.
- Savings Budget
Find out how much you can put away based on your monthly income and spending.
- Certificate/CD Calculator
See what a term-share certificate/CD investment could be worth.