Making Your Verizon EIPP Payout Work for You
Congratulations on Your Next Chapter
Receiving your Enhanced Income Protection Plan (EIPP) buyout from Verizon is a major milestone and a powerful financial step forward. You’ve worked hard for this lump sum, and now it’s time to ensure that money works just as hard for your future.
While parking your payout in a traditional savings account might feel like the easy option, standard savings rates often fail to keep up with inflation. Leaving your payout there can quietly erode your purchasing power over time.
Two Better Ways to Grow Your Lump Sum
To keep your funds growing safely without exposure to market risks, Liberty Bay offers two high-performing, low-risk options for your buyout:
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High-Yield Savings: Keep your funds liquid and accessible while earning a competitive yield well above standard savings rates.
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CD Specials (Certificates of Deposit): Lock in a top-tier, guaranteed rate for a fixed term to maximize growth and protect your earnings against future interest rate drops.
3 Steps to Secure Your Growth Strategy
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Assess Your Short-Term Cash Needs: Determine how much of your payout you might need within the next 6 to 12 months.
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Consider a Hybrid Approach: Keep a portion in a High-Yield Savings account for flexibility, and put the rest into a CD Special to lock in maximum interest.
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Speak with a Liberty Bay Financial Expert: Call us, email, or log into online banking to explore current CD special rates and transition your payout effortlessly.
We are here to help. No incentive or compensation for giving you solid advice on best practices for making your money work for you.
Want to speak to someone directly: Kelly Amato Kamato@lbcu.org - 617-694-9090 or landing page: SEGLINK
Kelly Amato
Vice President
Business Development & Community Partnerships
Chair Community Matters
Liberty Bay Credit Union
300 Granite St, 3rd Floor
Braintree, MA 02184-4999
O: Phone 617-694-9099
