Making smart financial decisions with your stimulus check and/or tax refund

At Silver State Schools Credit Union, we guide our members to make sound financial decisions no matter what their individual circumstances may be. With tax refunds on the way and many people having received their stimulus payments from the recently passed stimulus bill, there are many options available to make sure your money moves for you, as well as taking care of your immediate needs. Here are a few recommendations:


The pandemic has brought on a whirlwind of financial struggles for many families. Focus on prioritizing your most important necessities, such as: food, shelter, utilities, transportation. If you have children, focus on providing the tools necessary for them to continue their education journey.


Prepare for the unexpected. Preparing an emergency fund is like having a financial security blanket. Take a percentage of your tax refund or stimulus funds and deposit them into a savings account. Going forward, continually deposit a small amount into this savings account and have peace of mind knowing you can access these if you are impacted by a financial emergency.


Planning for your retirement and long-term financial success is essential during every stage of life. If you have children, you can open an Educational IRA to begin saving for their college education. Increase your retirement security by building an investment plan through a traditional or Roth IRA plan that works best for you.

The key to making the right financial decision is to research all your options and make sure they align with your goals for the future. Please view our money moves financial education center to learn more about savings, budgeting, buying your first home and much more by visiting

Scott A. Arkills serves as the president/CEO of Silver State Schools Credit Union (SSSCU). In his current capacity, he heads all aspects of this over $1 billion asset, nearly 56,000-plus member credit union. Arkills has worked in many executive positions in the financial services industry over the last 37 years. He has a wide array of financial services experience serving in various senior executive positions not only at credit unions, but also at large national and international banks and consumer lending organizations.

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