August 2024 News

Start Them Off Right With Student Banking

With back-to-school season just around the corner, it’s a great time to get your child started on good financial habits with our suite of youth-focused accounts that provide more conveniences, fewer fees, and highly competitive interest rates. These accounts for kids in middle and high school not only offer great rates and modern conveniences, but can help teach them how to save money, how money works, how to make it grow, and most importantly, how to be financially responsible*. Student Banking accounts include:

Youth CD – Earn 4.50% APY1

  • Our Youth CD can help make your child’s long-term savings goals a reality with a great interest rate, a minimum opening deposit of just $50, a convenient 12-month term, and the ability to add funds during the term of their CD.

Youth Savings – Earn up to 4.00% APY2

  • Our Youth Savings account is the perfect tool to help your kids get in the habit of saving early. It provides a premium interest rate on balances of up to $1,000 and you’ll have the flexibility to add or subtract funds whenever you need.

Student Checking

  • Our free Student Checking account (available to members aged 13–24) is the perfect account for day-to-day money management. You get a free Visa® debit card, access to mobile banking, and no monthly maintenance fees or minimum balance requirements.

When your student prepares for their next phase of education, our Sallie Mae referral program can provide access to the best Sallie Mae® student loans for their specific needs.

To learn more about these youth-focused accounts, speak with a Bellco representative or visit us online at Bellco.org/StudentBanking.

Learn more

*An adult must be an owner on any student/minor account when the student/minor is under the age of 18.

1Annual Percentage Yield (APY) is effective as of 8/1/2024. The interest rate and annual percentage yield (APY) are subject to change without notice at any time prior to the issuance of the certificate. After the point of issuance, interest rates and APY are fixed. Early withdrawal penalties apply. Fees may reduce earnings on the account. Membership eligibility required. Only available for members 24 years old or younger.

2 Annual Percentage Yield (APY) is effective as of 8/1/2024.  The APY for Youth Savings is 4.00% for balances up to and including $1,000.00. For balances in excess of $1,000.00, the APY may range from 4.00% to 0.50%. The APY may change after the account is opened. Fees may reduce earnings on the account. Membership eligibility required. Only available for members 24 years old or younger.

Visa is a registered trademark of Visa International Service Association.
© 2024 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. 

Fun Things to Do During Labor Day Weekend

It’s already August, so kids will soon be back in school. But that doesn’t mean the fun has to end—Labor Day weekend is approaching, and it’s a great time to celebrate the last vestiges of summer. Lots of folks will take the chance to grab a long weekend in the mountains for camping and hiking, but if that’s not for you, there are plenty of other activities you can explore. Here are just a few things you might check out:

  • Dashiki Fest at the Levitt Pavilion in Denver. This free, family-friendly festival is a celebration of African culture and music. It will feature cultural performances, African foods and arts, live music, and an African fashion show.
  • Labor Day Liftoff in Colorado Springs. Get up early (VERY early) to watch the amazing and colorful spectacle of dozens of hot air balloons launching and stick around to hear free live music, watch the Wings of Blue USAF Skydiving Demonstration Team maneuver through the air, and see the Aerial Aura Acrobats perform amazing feats. Then stick around even later to ooooh and ahhhhh at the Grizzly Drones drone light show at night.
  • Take the Mount Blue Sky Scenic Byway before it closes for the season on Labor Day. The highest paved road in North America, this byway will take you through five climate zones, past breathtaking scenery, and all the way up to the 14,264-foot summit of Mount Blue Sky (formerly Mount Evans). Note that online reservations are required for timed slots, so be sure to click through to sign up.
  • If art is your scene, consider taking a tour through Denver’s street art. For years, Denver artists have created engaging and thought-provoking murals and graffiti, using alleyways, buildings, garage doors, and storefronts as canvases. Follow the link above for a list of recommended pieces and their locations.
  • For fresh produce, handmade goods, and delectables (products vary based on location and vendor), check out one of many local farmers’ markets—you can go to Boulder, Cherry Creek, Littleton, Lakewood, or more, to find just the right elements to round out your weekend BBQ.

Even though it marks the unofficial end of summer, Labor Day weekend can still bring lots of summertime memories. Start planning now to make the time special!

Send Money to Friends & Family With Zelle®

If you haven’t already signed up for Zelle, what are you waiting for? Zelle provides you a safe and easy way to send money directly to family and friends in a matter of minutes1, even if they aren’t a Bellco member2. Plus, your account information stays protected—you won’t see the other person’s account information, and they won’t see yours.

Whether you need to split the cost of dinner3, send money to your college student, or pay the babysitter, Zelle is a convenient alternative to using cash or checks without any fees from us—and it’s already available through online banking and your Bellco mobile banking app.

Benefits of Zelle for Bellco members

  • Funds are sent directly to the recipient’s account whether they’re a Bellco member or not2
  • There’s no need to download a new app—you can send or receive money with Zelle right from your Bellco mobile app without fees
  • Sending money is easy. Once you are enrolled, select Zelle from the Bellco mobile app, add your recipient’s email address or U.S. mobile phone number, and send money directly to their checking account2

To learn more about Zelle and to get started visit Bellco.org/Zelle.

Enrollment with Zelle® through Bellco, and an eligible Bellco account are required.
1 Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle.
2 Must have a bank account in the U.S. to use Zelle.
3 Payment requests to persons not already enrolled with Zelle must be sent to an email address.
Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Bellco Home Loans Offers Second Mortgages

By Bellco Home Loans

In addition to first-mortgage products for the purchase or refinance of your home, Bellco Home Loans is excited to now offer fixed-rate second mortgages or HELOANs!

While both HELOANs (Home Equity Loans) and HELOCs (Home Equity Lines of Credit) are a way to access the equity in your home, they both function in very different ways. Understanding the differences will help you determine which type of loan may be beneficial for you.   

HELOCs function similarly to a credit card—a maximum line of credit is established, and you may borrow and repay these funds as they are needed. Typically, HELOCs are subject to variable interest rates, which fluctuate up or down with the market. This means that payments will not always be the same, although some products may offer a variety of payment options. HELOCs usually carry a draw period in which funds (up to the maximum credit limit) can be accessed. And then, a repayment period is entered into where the balance becomes amortized to pay in full by the maturity date.     

HELOANs, on the other hand, provide the full amount of the loan request at the time of closing. The HELOAN is then repaid with a fixed monthly payment over the life of the loan. This means that the loan, once established, is not subject to market movement and allows for predictability with the monthly payment. This predictability can then assist with budgeting for the payment so there are no surprises down the road.    

For more information about second mortgages and other home loans or to speak with a home loan expert, visit the Bellco Home Loans website.  

Bellco Home Loans is a joint venture between Bellco Credit Union and Guild Mortgage Company, LLC, an independent mortgage lender that has helped families attain home ownership since 1960. Bellco Home Loans, LLC is an affiliate of Guild Mortgage Company LLC. Guild Mortgage Company LLC; Equal Housing Opportunity, Company NMLS 3274.