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Here’s how you can make the most out of your savings accounts

In this episode of Business Matters, presented by Valley First, a division of First West Credit Union, host Rob Cupello is joined by Charla Johnstone, Branch Manager at the Kamloops Valley First location.

It’s no secret that the financial market has been volatile lately, and it’s prompting people to look for the best options to save their money.

“Many are feeling really nervous, scared and kind of at odds with themselves,” says Johnstone.

“They don’t know what to do or how long it’s going to last.”

Luckily, there are some low-risk options for members to save money.

These include things such as Term Deposits, Guaranteed Investment Certificates (GICs), and Market-Linked GICs for money that you want to save in the short term. With these options, you’re guaranteed to not lose any money.

The least risky option is opening a high-interest savings account to help with your short-term goals while still being able to access your money.

To hear more about how you can save more effectively, which low-risk options you have to save interest and a more in-depth explanation of the standard savings account available at your bank or credit union, watch the full episode below.

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