From Hughes Federal Credit Union
Hughes remains committed to your financial future. Even as things shift, we’re here to help you make wise choices with your finances and investments.
Your Money is Safe
Hughes and other financial institutes are here to safeguard your money and investments. Your money is secure with a bank or credit union, because government-backed entities such as the FDIC and NCUA insure your deposits and protect your funds. All savings accounts at Hughes are insured by the NCUA up to $250,000, and IRAs are separately insured for $250,000.
Stay Calm and Watch for Opportunity
As with any significant world-wide event, COVID-19 has left its mark on the economy. While it is understandable to want to withdraw money from investment and retirement accounts, doing so could be devastating to your portfolio and long-term wealth. This is not the first or the last time the stock market will fluctuate, and there may be some great opportunities to invest as the market changes.
Be Aware of Scams
Scams related to COVID-19 are on the rise. Be cautious when answering phone calls from numbers that you do not recognize as there are reports of robocalls and text message scams offering virus testing kits and fake cures. Scammers are also trying to get a hold of your stimulus check. Beware of calls, text messages and emails that promise a speedy delivery by paying a “processing fee.”
If you are experiencing hardship as a result of COVID-19, please give us a call at 520-794-8341.
