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.

         Start saving         

 
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:

Start small

Start small

Open your Launchpad account with as little as $5.

Watch it grow

Watch it grow

Earn high dividend rates as you save a little each time you get paid.

Save $1,000

Save $1,000

Then transition to an Individual Retirement Account (IRA)*

          Start saving          

 

*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.

Rates
Make your savings grow

When you open a Launchpad account, we’ll help you save automatically with direct deposit from your paycheck. Your goal is to save $1,000 that you can use to open an IRA.

Account TypeDividend RateAnnual Percentage Yield (APY)1Min. BalanceMax. Balance
Launchpad Savings4.91%5.01%$5$1,000
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.

Open my Launchpad savings 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:

Launchpad Savings

Launchpad Savings

A Launchpad savings account helps you prepare to open an IRA. Start by saving $1,000—without worrying about tax consequences or reporting requirements*. Just remember, each withdrawal comes with a $5 penalty.

Start saving

Simplified Employee Pension (SEP)

Simplified Employee Pension (SEP)

SEP IRAs can be a smart alternative to a 401(k) if you’re self-employed, or own or work at a small business. SEP IRAs are a form of traditional IRAs. But only the employer contributes to the plan for each eligible employee.

Hint: Dupaco offers SEP IRAs to eligible members. You’ll need to consult your tax advisor or employer for eligibility and contribution limit details.

Learn more

Individual Retirement Account

Individual Retirement Account

With a traditional IRA, you may get pre-tax contributions* but taxed withdrawals. On the flip side, a Roth IRA offers after-tax contributions and tax-free withdrawals.

Hint: Dupaco has both types! Just remember to chat with your tax advisor to confirm eligibility and contribution limits.

Explore Dupaco IRAs

Calculate my savings with a Roth vs. Traditional IRA >

401(k)

401(k)

Many employers offer 401(k) retirement plans. You can find out if this is an option available to you through your employer. As an employee, you may contribute a portion of your pre-tax income to an investment account. The funds may grow tax-deferred* until withdrawn. And many employers will match your contribution up to a certain amount.

Explore career resources

*Please consult your tax advisor for additional information.

When should you start saving for retirement?
The sooner the better. Here's why:
Save money

Save money

When you put your money in a savings account or invest it, you earn a little bit of extra money called interest or dividends.

Earn money

Earn money

When you keep saving, you earn more money not only for the amount you first put in but also for the extra money you earned over time. It’s like getting a bonus on top of your savings!

Watch it grow

Watch it grow

This keeps happening over and over, and your money grows bigger and bigger. It’s like a snowball effect, resulting in exponential growth over time.

Pro tip: Even small, regular contributions can make a big difference when compounded over several decades.

Calculate my savings  Talk to a financial expert

Contact us
Have questions? Ready to open a Launchpad savings account?

Drop us your info below and we’ll be in touch. Need to talk sooner? Just give us a call at 800-373-7600, ext. 0.

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Resources to help you start saving for retirement
How much should you save for retirement?

How much should you save for retirement?

Find out here >

How to 'trick' yourself into saving more

How to 'trick' yourself into saving more

Find out here >

How long will my retirement savings last?

How long will my retirement savings last?

Find out here >

Calculators

  • 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.

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