Investing for the First Time

No matter your age, now is always the right time to begin investing. Money earns interest over time, and the longer time you have to invest the more financially secure you and your family will be.

Yet deciding how and where to invest your money for the first time can seem daunting.

Whether you're starting out at a young age, or investing later in life, the first step is to identify your financial goals and develop a plan to reach them.

First, review our comprehensive Financial Planning Guide, which offers step-by-step outlines to help you get your current finances in order. Our guide will help you understand your options and plan for your financial goals and objectives.

Then, consider our variety of financial products designed to help you meet your investment goals at any stage in life.

Mutual Funds

If you want a potentially higher rate of return, and are comfortable with a higher level of risk, mutual funds offer the option for managed investments to help you meet your financial goals and objectives.

Individual Retirement Accounts

If you want to save long term for retirement and want the added benefit of tax-deferred or tax-free savings, 5Star Bank and AFBA 5Star Funds both offer traditional and Roth IRA accounts.

An IRA is a quality investment choice for long-term planning, providing you with options for periodic contributions of money that best fit your goals.

With long-term planning and consistent contributions to the fund, your IRA can grow over time to provide financial security for you and your family upon retirement.

Banking

Savings Accounts

A secure, accessible location to earn interest on your money is a key component of any financial program.

Our zero-minimum balance 5Star Bank Passbook savings account allows you to start earning interest for as little as $100. And, to ensure the security of your savings account, our deposits are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $100,000.

Money Market Accounts

A money market account is a good option for saving if you want to receive a higher interest rate than a checking account, with limited check writing privileges, but still want to receive all the benefits of a savings account.

5Star Bank's money market accounts offer competitive rates and access to your money when you need it.

Certificates of Deposit

If you prefer saving your money long term with a guaranteed return, 5Star Bank Certificates of Deposit offer increasingly better interest rates based on the best term for you. Your CD interest is guaranteed for the term of the CD regardless of changing market conditions so you know your money will grow without constant supervision.

View your CD online, track earnings, and request quarterly statements. Interest is compounded daily and credited monthly. At CD maturity, the principal or interest can be rolled over into a new CD or transferred to another 5Star Bank product for convenience and flexibility. The choice is up to you.