#crazygood

As the saying goes… the days are long but the years are short. Raising a family is hard work, multitasking has become a necessity not an option and stretching income due to the expanding needs of the family requires creativity. Our product and service recommendations help to simplify and save… so you can focus on what matters most – your family!

Visa Rewards Credit Card

Most people have a credit card and use it regularly, why not earn unlimited cashback rewards as a bonus? Our Visa® Platinum Cashback Credit Card is perfect if you want a flexible reward – what’s more flexible than cash to spend on anything you want?
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Crystal Free Checking

If you need a great checking account with no fuss or maintenance fees, this is the account for you. This account gives you every feature you’d expect from a checking account without a monthly fee or minimum balance requirement. This account is perfect for normal, everyday spending and those members who do not carry high average daily balances.
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Auto Loans

If you are looking to buy a new or new to you vehicle, or simply want to save money by refinancing your existing loan from another lender, Bridge has the right auto loan for you. Plus, you get the bonus option of a 90 day payment deferral. Not convinced? We put our low rates to the test. If you find a better rate, we’ll match that rate up to 1% off our advertised rate.
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Mortgages

Bridge believes in expanding the dreams of home ownership (or a larger home) to as many of our members as possible. We offer conventional, 15 year, 30 year fixed loans, first time home-buyer and VA mortgage program options.
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Kids & Students

Coverdell Education Savings Account

College tuition costs have consistently risen at two to three times the rate of inflation over the past decade. If you have a child, a Coverdell Education Savings Account at Bridge Credit Union is an excellent way to save for future college costs. You can also use the account to save for qualified elementary and secondary education costs. Call us at 800.434.7300 to get started.

Benefits

  • You can contribute up to $2,000 per child (under age 18).
  • Compared to Section 529 plans, ESAs offer greater control over investments.
  • Qualified withdrawals are free of federal income tax.
  • Withdrawals may also be used to pay for qualified elementary or secondary school expenses.
  • Qualified expenses can include tuition and books, room and board, uniforms, supplies, computers, and Internet access.

Information about Distributions from Coverdell Accounts:

  • Distributions are tax-free as long as they are used for qualified education expenses, such as tuition and fees, required books, supplies and equipment and qualified expenses for room and board.
  • There is no tax on distributions if they are for enrollment or attendance at an eligible educational institution. This includes any public, private or religious school that provides elementary or secondary education as determined under state law. Eligible institutions also include any college, university, vocational school or other post-secondary educational institution eligible to participate in a student aid program administered by the Department of Education. Virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) post-secondary institutions are eligible.
  • The Hope and Lifetime learning credits can be claimed in the same year the beneficiary takes a tax-free distribution from a Coverdell ESA, as long as the same expenses are not used for both benefits.
  • If the distribution exceeds qualified education expenses, a portion will be taxable to the beneficiary and will usually be subject to an additional 10% tax. Exceptions to the additional 10% tax include the death or disability of the beneficiary or if the beneficiary receives a qualified scholarship. There are contribution limits for taxpayers based on the contributor’s Modified Adjusted Gross Income. Contributions to a Coverdell ESA may be made until the due date of the contributor’s return, without extensions.
  • If there is a balance in the Coverdell ESA when the beneficiary reaches age 30, it must generally be distributed within 30 days. The portion representing earnings on the account will be taxable and subject to the additional 10% tax. The beneficiary may avoid these taxes by rolling over the full balance to another Coverdell ESA for another family member. For more details, see IRS Publication 970, Tax Benefits for Higher Education (at IRS.gov) or call 800-TAX-FORM (800-829-3676).

Notes

Your contribution to an ESA may be restricted if your modified adjusted gross income is greater than the specified limit.The limit is $95,000 for single filers, or $190,000 for joint filers. Because ESA funds qualify as the student’s asset, they may reduce eligibility for financial aid and scholarships.

Student Loans

The cost of a college education is expensive, but worth every penny. Maximize scholarships, grants, and federal loans – these are the most cost-effective ways to pay for a higher education (short of mom and dad). However, when that’s not enough, we can help. We offer a private student loan program that allows for the loan to be placed in the student’s name. This helps build credit for the student. Also, no payments are required while the student is enrolled at least half-time. This takes the pressure of payments off and keeps the focus on learning.

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Youth Savings Accounts

Encourage your children to start saving with a Youth Savings Account from Bridge Credit Union. First, open a new savings account for each child with our Youth Account Application (or visit our office). Second (optional), print the Parent-to-Kid Savings Contract (P2K) and complete it. This simple contract allows your child to list a savings goal (a bicycle, video game, or other ‘want’ or ‘need’). It’s a great way to reinforce good savings habits and making (and sticking to!) goals.

Youth Auto Loans

Our Youth Auto Loan is an excellent way to start building credit

Building a credit history is tough. To get credit, you have to have credit. If you have no established credit, then how do you get it?  We have the solution:  A Bridge Credit Union Youth Auto Loan. This program is open to all members aged 16-18 and offers all of the benefits and rates of our regular vehicle loans. All that is required is a qualified co-borrower who is the parent or guardian. After twelve months of favorable repayment history and when the minor is 18, the co-borrower can request to be removed from the loan.

Apply or call our lending department for more information about this unique product at 614-466-4988.

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Debit Card Roundup

Easily grow your kid’s savings account

Enroll your debit card in Debit Card Roundup and we will round up your debit card purchases to the nearest dollar and deposit the extra change into your kid’s savings account automatically. It’s one of the easiest and painless ways to save!

Call us at 614-466-4988 to enroll today or complete our Debit Card Round-Up Enrollment Form.