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Listerhill Credit Union is a nonprofit financial cooperative improving lives in our community.
If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member. Depending on your individual eligibility, we may require membership into an approved association at no cost to you.
You can also qualify for membership by being a family member of a current or potential Listerhill member.
With only $5, you can join Listerhill today and start taking advantage of a lifetime membership.
There's no minimum age to be a member — nor to start saving. We offer a number of smart ways to save for your little one, starting with savings accounts with perks that grow nearly as fast as they do.
It's an important time in your life — the beginning of your financial journey. We've bundled the basics to make it simple. Or go rogue and customize what works best for you.
We understand that whether you're starting your new family or watching your children start their own, your finances play an important role. That's why we offer products that fit to your unique lifestyle.
You've worked hard, but there's no reason your finances can't be simple. That's why we're here to help you get the most out of life and protect what you've earned. Listerhill has products designed for you to earn more and worry less, so you can get back to spending time with the ones you love.
If you are not sure what kind of interest your loan has, check your loan documents or contact your lender.
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It depends on what you need! If you are saving money in an account or being repaid for a loan, compound interest may be a good choice for you.
If you are borrowing money, you may be able to pay less over time with simple interest.
(Source: Banzai)
The simplest way to calculate interest is to use an online savings calculator like this one. But if you want to do the math yourself, you can plug your information into the compound interest formula of A = P (1 + r/n)^(nt).
(Source: Banzai)
Compound interest means that the money you earn in interest also earns interest, rather than just the principal. Basically, the amount of interest you earn will grow every time interest is added (or compounded) rather than staying the same. This makes it ideal for savings accounts. The formula for calculating compound interest is A = P (1 + r/n)^(nt). The variables for this formula are:
(Source: Banzai)
Interest rates vary greatly depending on the type of account, supply and demand, and what the Federal Reserve sets. For a typical savings account, you could expect anywhere from 0.01-0.08%. For a high yield savings account, on the other hand, it’s not uncommon to see interest rates of 0.2%-0.6%. A CD (certificate of deposit) can earn 0.07-1.2%, or even higher, depending on the length and financial institution.
(Source: Banzai)