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From CEO, Brad Canfield
  • How Would You Rate Your Level of Financial Literacy?

    Mar 26, 2013
    As a Silicon Valley software engineer, you know every angle of designing, developing and testing sophisticated software and systems. But how much do you know about managing your wealth?
     
    Building an American-style life in the Silicon Valley requires smart financial decisions that prepare you for retirement while ensuring you have the money today to pay for things like your southern Peninsula home. This can be as simple as understanding how to create and abide by a budget or it could mean grasping the complexities investing in stocks and bonds. Are you saving enough for retirement or for your children’s college education? Taking advantage of all possible tax deductions?
     

    Time To Learn More About Money Management

    April ushers in Financial Literacy Month, as designated by the U.S. Senate in 2003, so get a head start on educating yourself. There are multiple online resources to help you gauge how much you already know and show you the types of financial concepts you should be thinking about as you build your portfolio and manage your money.
     
    The National Financial Educators Council offers a comprehensive financial literacy test that requires a quick log-in process. Plus, you can access scads of financial information tailored to different age groups. Over at Kiplinger, you can take a personal finance quiz and also run through a quiz of 12 “money rules of thumb,” plus other valuable insight about money management. And if you’re ready to dig in and learn more about investment strategies, the Wall Street Journal offers up a list of the best available books and provides links to several online guides to investment and wealth management.

    And don’t forget, if you’re a software engineer new to the Silicon Valley, turn to KeyPoint Credit Union to assist you with all facets of your short-term and long-term money management needs.

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  • Consider IRAs to Plan Your Financial Future

    Mar 18, 2013
    Tax season is in full swing and that means conversations with an accountant or financial advisor about limiting your tax liabilities next year, taking a look at your financial plan, and doing all you can to improve your financial situation.
     
    An Individual Retirement Account (IRA) can play an important role, whether it’s structured to serve as your sole source of retirement income or to augment an employer-sponsored 401(k). If you’re an H-1B engineer in the Silicon Valley, you can use an IRA to balance your company stock options and additional foreign investments or savings accounts. As an engineer who’s new to the country, an IRA is part of an effective strategy to achieve an American lifestyle in the Silicon Valley.
     
    Before we get too deep into this, I have to tell you that this information shouldn’t be taken as tax advice. Your tax advisor can help with any specific questions.

    Retirement Planning Through KeyPoint Credit Union

    Are you looking for a trustworthy financial advisor in the Silicon Valley? Well you’re in luck. One of KeyPoint Credit Union’s investment representatives is ready to meet with you for a complimentary, no-obligation discussion about different IRA choices that are available to you. 

    The money in your IRA can be invested in a variety of stocks, bonds and other holdings, all of which can be adjusted depending on how much risk you’re willing to take and the financial goals you’re trying to reach. Keep in mind that IRAs aren’t federally insured and aren’t guaranteed by KeyPoint Credit Union or any other third party. There’s risk involved with the investment strategy, which emphasizes the importance of seeking assistance from our investment representatives if you unfamiliar with IRAs.

    Different IRAs for Different Financial Needs

    If you want to research IRA options before you come in to see us, Money magazine provides a good explanation of several types of IRAs. The most popular are Roth IRAs and Traditional IRAs, both of which have discrete tax advantages and specific rules about withdrawing money. Which one is better? It all depends on your personal finance and employment situations now and in the future.
     
    People often add IRAs as a valuable component to their overall portfolio, which can include your Silicon Valley/Peninsula Valley real estate, savings accounts, life insurance, 401(k) and other assets. Contact us today and let’s set up a time to discuss IRAs and the benefits they hold for you and your family. We look forward to seeing you!
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  • Our New All In One™ Loan Helps You Save Money and Pay Off Your Mortgage Sooner

    Mar 11, 2013

    As you pay your mortgage every month, do you ever wonder how you’ll feel when you no longer owe money on your home? Maybe you think about ways you’d otherwise spend or invest that money on your retirement, your hobbies, education or vacations. Maybe you’d feel the freedom to finally do something different with your career because you don’t feel obligated to stay at your current job just to pay for your home.

    Imagine, a huge financial burden would be lifted. Finally.

    We at KeyPoint Credit Union are tremendously excited to introduce a loan product for qualified homeowners that will help you pay off your mortgage sooner so you can enjoy more financial freedom! The All In One™ loan is an innovative, flexible loan that replaces your traditional mortgage with a combination home equity line of credit and checking account so you can make your money work harder for you.

    Learn How the Math Works

    With the All In One™ loan, every dollar you deposit cuts time and money off of your mortgage balance, saving you thousands of dollars in interest payments over the life of your mortgage. Plus, you can access your money at any time and tap into your home’s equity without refinancing.

    All of this is possible because the All In One™ loan makes a simple adjustment to the way interest is calculated. Noted economist and author Ben Stein says the All In One™ loan is “the greatest invention in personal finance in my lifetime.” 

    Silicon Valley Mortgage Options

    We want to tell you more about the All In One™ loan so you can take greater control of your personal finances. Sign up today for our special presentation this Thursday, March 14th and we’ll show you how this loan works to save you a lot of time and money.

    Join us for the All In One™ loan presentation

    Date: Thursday, March 14
    Time
    : 6 to 8 p.m.
    Location
    : KeyPoint Community Learning Center, 2805 Bowers Ave., Santa Clara, CA  95051
    RSVP
    : (408) 731-4257 (Refreshments will be provided.)

    And because we’re so excited about the All In One™ loan, we’ll credit the cost of your home’s appraisal if you apply for the loan by March 31. Hope to see you soon!

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