FAQs (data-driven)

Primary Savings Account

• What is a savings account?

  A savings account is a secure place to store money while earning dividends.

• How much money do I need to open a savings account?

  A $5 minimum deposit is required.

• Do savings accounts earn interest?

  Yes, interest is calculated daily and paid monthly.

• How often are dividends paid?

  Savings Account dividends are paid monthly.

• Is my money safe in a savings account?

  Yes, deposits are federally insured by the National Credit Union Administration (NCUA) up to $250,000.

• Can I withdraw money from my savings account at any time?

  Members can make deposits, withdrawals or transfers at any time.

• Is there a minimum balance requirement?

  Yes, you only need to maintain a $5 minimum balance to keep the account open.

• How is a savings account different from a checking account?

  Savings accounts are designed for storing money and earning dividends, while checking accounts are intended for everyday spending and bill payments.

• Can I have more than one savings account?

  Yes, we offer a variety of savings accounts, including Gold Accounts, Certificates, Insured Money Market Accounts, Health Savings Accounts and Individual Retirement Accounts.

• Are there monthly fees for savings accounts?

  There are no monthly service fees and you only need to maintain a minimum balance of $5 to keep the account open.