INV01: THE PURPOSE OF INVESTING
In order to serve members well, it's important to understand some of the reasons that motivate the desire to invest. When it comes to investing, individual goals have a significant impact on the choices people make. This program explores several different individual investment goals along with the credit union role in assisting members with their investment decisions.
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Interest is a major factor in any wealth accumulation plan. The rate of interest, how interest is applied, and the amount of time interest is given to work, will significantly affect the investor's bottom line. This program explores the relationship between interest and time, simple and compound dividends, and annuities. It demonstrates how credit union members can effectively accumulate dividends as part of their overall investment plan.
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INV03: SAVINGS AND INVESTMENTS
This program focuses on a popular investment option - credit union accounts, including discussion on terms and conditions, eligible purchasers, ownership of term deposits, reporting earned interest, payment at maturity, redeeming term deposits prior to maturity and assignment of term deposits to a lender as collateral for a loan.
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INV04: ALTERNATIVE INVESTMENTS
Helping protect the members’ financial futures, and the financial futures of their loved ones, is one of the credit unions’ most significant roles. This program presents knowledge about a number of alternative investments along with information about what each type of investment represents.
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IRA01: UNDERSTANDING IRA BASICS
program explores historical information that provides context for the modern IRA, common IRA terminology, features of the most common types of IRAs, and contribution, distribution, and transfer guidelines for most IRA accounts.
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IRA02: IRA ELIGIBILITY AND CONTRIBUTIONS
The person who establishes or contributes to an IRA must meet certain eligibility requirements and annual contribution limits and guidelines. This program introduces these basic requirements and the limits for each IRA type, as well as common methods for transferring IRA funds. Although it is the participant's responsibility to determine his or her own eligibility and contribution limits, staff need to be aware of the guidelines.
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It's important to know how distributions are handled for various IRA types. Contributory and Rollover IRAs follow the same distribution rules. Roth IRAs follow a separate set of rules. This program discusses the Normal and Premature Distribution rules for Traditional IRAs. The rules for Mandatory, Normal, Premature Distributions are also covered along with Roth IRA Distributions, Qualified and Non-Qualified Distributions.
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