If a basic squadron finance committee wants to earn more money from excess funds, what should they do?

The best course of action for a basic squadron finance committee aiming to earn more money from excess funds is to ask wing HQ to open a certificate of deposit (CD) for them. This is because wings typically have more resources and potentially better interest rates or terms available for CD investments than a basic squadron might obtain independently. CDs generally offer higher interest rates compared to standard savings accounts, and by consolidating funds at the wing HQ, they may take advantage of larger scales of investment, which can lead to enhanced earnings.

While other options like opening a certificate of deposit or savings account at a local bank or an online bank may yield some interest, these individual actions may not provide the same benefits in terms of rates or terms as utilizing wing HQ's resources. Typically, a wing would have established relationships with financial institutions that could lead to more favorable conditions for high-yield savings vehicles like CDs. This makes the choice to leverage wing HQ for investment purposes both practical and strategic in helping grow the squadron's excess funds more effectively.