Saving

Are you aware of your Savings Options?

There are many different types of Savings Accounts out there so make sure to do your research and pick the best one for you!

Can sign up for in person, online, or on the phone
Do not have check writing privileges
May have a higher opening deposit requirement
May have higher daily minimum balance requirement
May be called
- Statement Savings
- Day-to-day Savings
- Goal Savings
Typically can link to your checking account to move money back and forth between the two
- Can help you avoid overdraft or under-the-minimum balance fees
Very small interest rates

Savings certificate entitingly the owner to receive interest
Similar to a bond
- However, does not pay interest over time, but at one time once the certificate has matured
Bears a maturity date
Specified fixed interest rate
Can be issued in any denomination
Restrictions on taking out money
- Taking out money before the certificate matures will cost money