North Side Community Federal Credit Union is proud to offer affordable financial options for older adults (income restrictions apply). This program is a partnership effort with the National Federation of Community Development Credit Unions.
Senior Saver Club Account
This higher interest 2.25% earning account is modeled after the holiday club account where you can deposit money of any amount, at any time up to $5,000. In order to build savings, your money is restricted for withdrawal until nine months after the account’s opening.
Seniors Borrow & Save
This product is a new incentive for members to increase their savings as they repay an affordable small-dollar loan. Borrow $500, $750 or $1,000. Save $25 additionally per month. Then, you will get a percentage of the application fee and interest reimbursed. Plus, you will earn a chance to win a $250 VISA Cash Card!
Senior Saver Share CD
Seniors who complete the Borrow & Save loan program have the opportunity to open a Senior Saver Share CD. Invest $300 (minimum) to $1,000 (maximum) for 1 year and receive an interest rate of 3.00% at the time of the certificate’s maturity.
Mather Lifeways is a non-profit organization that serves older adults throughout the Chicagoland area. Some of their services include Medicare counseling, mobile learning ,lifelong learning programs, computer classes, an older adult cafÃ©, and Telephone Topics for homebound seniors. Because North Side Community Federal Credit Union also works to provide affordable financial services to older adults, a partnership between the organizations was a natural fit. Kate Paz, Director of the Without Walls program appreciates the partnership because “North Side brings services to the table that Mather doesn’t offer, and the credit union is addressing a specific population that is often underserved.”
Mather Lifeways recently launched a website to help older adults stay connected to their community. www.MOREways.org is a virtual community that offers older adults opportunities, resources, and experiences to stay connected to their neighborhood and the people in it. www.MOREways.org is a part of Mather LifeWays, a unique, non-denominational, not-for-profit organization that has served older adults for 70 years. Dedicated to developing and implementing Ways to Age WellSM, we create programs, places, and residences for today’s young-at-heart older adults. Click to connect to www.MOREways.org.