Bonus Dividend Plan Tips

Whatever your short- and long-term goals, Columbia can help you plan to pay for them. Think about car repairs and vactions, as well as retirement or a child's education. Here are a few tips to help you increase your savings, enroll in the Bonus Dividend Plan and stay active in the plan every month.

1. Set it and forget it!
   Schedule automatic transfers from your checking account to a money market or regular savings account. You can set up the transfers yourself within online banking, or any Columbia representative is happy to help. If you're stressing about your budget, start small. You can increase the amount you save later as funds become available.
   
   
2. Pay yourself first!
   Instead of trying to save at the end of the month, schedule the transfers to occur shortly after your payday. You're less likely to make unnecessary purchases if the money isn't directly at your fingertips.
   
   
3. Enroll in the Bonus Dividend Plan!
   Once you've saved $4,000, transfer $2,500 into your checking account (keep this cushion) and open a money market account with the other $1,500. Add direct deposit or automatic loan payments and you're ready to earn extra money market dividends beyond our already-great everyday rates!
   
   
4. Be alert!
   Use the email notification feature in online banking to send yourself automatic email alerts when your checking balance falls below $2,600. If you receive an alert, watch your spending, so you don't fall below the $2,500 minimum balance needed to receive your extra money market dividend.
   
   
5. Switch to Income Checking!
   Earn dividends on your checking balance with our Income Checking account. It's free with direct deposit or a $500 minimum balance, which, of course, you'll already have!
   
   
6. Climb the money market ladder!
   If you were building funds by automatically stashing cash in a regular savings account, remember to switch your automatic transfers to your money market. As your money market balance increases, you'll move up the tiers and earn higher dividends. The Bonus Dividend Plan is based on a percentage of the regular tier rates, so as you move up the tiers, your extra dividends grow exponentially too!

Now go get 'em!