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New Year Jumpstart Guide

The calendar has flipped to 2026, and we’re here to help get it started on the right foot with ways to stay up to speed on important account information, maximize your savings and contributions, streamline any tax refund, and more.

Stay up to date

Your financial well-being begins with making sure all your information is current so we can reach out if needed. Now is also a great time to have your beneficiaries in order and keep a watchful eye on your accounts.

  • Contact details: Did you move in 2025? Change your name? Get a new phone number or email? Verify your contact info in digital banking (here’s how), call us at 800-445-4483, or start a live chat during business hours. Don’t miss important account communications (or helpful guides like this one)!
  • Beneficiaries: While you’re verifying your account info, take the opportunity to review and update your beneficiary information as well. 
  • Alert notifications: Keep tabs on your accounts and help fight fraud by setting up subscription and security alerts via email, text, or push notifications.

Maximize your savings and contributions

Start (or continue) setting money aside now for your near and distant future.

Resolve to save in 2026

To help stimulate the economy, the Federal Reserve lowered interest rates two more times in 2025 after three such reductions the year before. Despite the lower rate environment, there are still savvy ways to maximize your savings. Our Cultivate High-Yield Savings Account is a great place to grow your savings. Once you park your first dollar in Cultivate, you can turn your attention to setting targets and meeting long-term savings goals with our Savings Goal calculator and Savings Goal tool in digital banking. SELCO’s certificates also offer rates above the national average. Another long-term savings option is a fixed annuity,1 an investment vehicle that provides tax-deferred growth, no market risk, and penalty-free access to your money. Contact an LPL Financial Advisor* to learn more.

Keep your retirement on track

To ensure a steady income stream in retirement, continue to regularly contribute to your retirement accounts while working. The following breaks down the maximum amounts you can add to these accounts each year:  

 

 

It’s not too late! You have until April 15 to meet your maximum annual IRA contribution. As a reminder, the maximum limits for 2025 were $7,000 if you’re under 50 and $8,000 if you’re over 50. (Just make sure to note the contribution is for the prior year.)

As the calendar flips to 2026, contribution limits will increase for both traditional and Roth IRAs. As a reminder, you can contribute to a traditional IRA at any age if you’re still earning income.

  • If you’re under 50, the maximum contribution is $7,500 (up from $7,000).
  • If you're 50+, you can contribute up to $8,600 (which includes a cost-of-living adjustment of $1,100, up from $1,000).

Contribution limits have increased for 2026:

  • If you’re under 50, the maximum contribution is $24,500 (up from $23,500).

  • If you’re 50-59 and 64+, the catch-up contributions increased to $8,500 (up from $8,000), meaning you can now contribute up to $32,500. 

  • For employees ages 60-63, catch-up contributions remain at $11,250, meaning the maximum contribution will be $35,750, provided your plan allows it.  

For the 2026 calendar year, maximum Health Savings Account contributions are also increasing. 

  • If you’re under 55, the new maximums are $4,400 for individuals (up from $4,300) and $8,750 for families (up from $8,550).
  • If you’re 55+, you can now contribute up to $5,400 (up from $5,300) to an individual HSA or $9,750 (up from $9,550) to a family HSA.  

Meet your withdrawal requirements

Required Minimum Distributions (RMDs) are required from traditional IRAs when you reach age 73. You then have until April 1 of the following year to make your first RMD. As a reminder, Roth IRAs don’t require RMDs. Speak with your financial advisor to learn specific details.

Retirement planning questions?

Whether you’re interested in opening a retirement account, reviewing your portfolio, or learning if other changes in 2026 affect your future planning, our LPL Financial Advisors* can help. Make an appointment to fit your schedule by calling 541-744-7500. Please note: To meet with an advisor at the Albany, East Bend, Portland, Salem, or Eastern Oregon locations, you'll need to schedule an appointment.

When to expect your tax forms

For a complete list of tax forms—and when you can expect them—visit selco.org/tax-forms. (Please note: SELCO members will only receive a 1099-INT form if total dividends earned for the year were $10.00 or more.)

 

 

Setting up a SELCO direct deposit for a refund

Expecting a tax refund? In 2026, you likely will receive an Oregon Tax Kicker in your tax return, so make sure you’re receiving your refund as quickly as possible by verifying that you’ve included SELCO’s routing number (323274445) and your full 14-digit account number. You can find your account information in a few places:

  • In digital banking, click or tap the account you wish to directly deposit funds into, then “Details,” and you’ll find the routing number and full account number for ACH/direct deposit.
  • On a check, your account number is the 14-digit number in the lower-middle portion.

A new year brings fresh opportunities to take steps to reach your financial goals. We hope this guide will help you get there.

 

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* Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. SELCO Community Credit Union and SELCO Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using SELCO Investment & Retirement Services, and may also be employees of SELCO Community Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, SELCO Community Credit Union and SELCO Investment & Retirement Services. Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency Not Credit Union Guaranteed Not Credit Union Deposits or Obligations May Lose Value

SELCO Community Credit Union (“SELCO") provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay SELCO for these referrals. This creates an incentive for SELCO to make these referrals, resulting in a conflict of interest. SELCO is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

1 Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value. Fixed Indexed Annuities (FIA) are not suitable for all investors. FIAs permit investors to participate in only a stated percentage of an increase in an index (participation rate) and may impose a maximum annual account value percentage increase. FIAs typically do not allow for participation in dividends accumulated on the securities represented by the index.