When’s the last time you honestly used your savings account? Aside from putting extra money that you want to keep for a rainy day or emergency, it mostly just sits there. However, savings accounts from a credit union have several benefits that make them superior to other types of saving methods.
Benefits of a Savings Account:
Most savings accounts are very easy to liquefy, meaning that the money in the account can be easily withdrawn for cash, so saving accounts are often used as emergency funds to have money on hand when problems erupt. These emergencies can be either bad, like car accidents or medical bills, or good, like a surprise vacation or splurging on a gift for yourself.
Other benefits include:
• Keeping money separate from the checking account: As much as we all want to say that we can save money in our checking account, savings account can help us avoid overspending and keep our savings account growing.
• Earning interest: Savings accounts allow you to grow your money with interest over time, making your money work for you. Credit unions tend to offer higher dividends because they funnel their profits back to their members.
• Easy transfer between accounts: Either access your account online or through your mobile app, , money can be moved from checking to savings and vice versa, allowing you to move your funds easily where you want them.
So, is your savings account actually helping you? A savings account at your credit union can maximize your money and help you can get a better handle on your funds to use your money much more effectively.
Federally insured by NCUA and Equal Housing Lender
Benefits of a Savings Account:
Most savings accounts are very easy to liquefy, meaning that the money in the account can be easily withdrawn for cash, so saving accounts are often used as emergency funds to have money on hand when problems erupt. These emergencies can be either bad, like car accidents or medical bills, or good, like a surprise vacation or splurging on a gift for yourself.
Other benefits include:
• Keeping money separate from the checking account: As much as we all want to say that we can save money in our checking account, savings account can help us avoid overspending and keep our savings account growing.
• Earning interest: Savings accounts allow you to grow your money with interest over time, making your money work for you. Credit unions tend to offer higher dividends because they funnel their profits back to their members.
• Easy transfer between accounts: Either access your account online or through your mobile app, , money can be moved from checking to savings and vice versa, allowing you to move your funds easily where you want them.
So, is your savings account actually helping you? A savings account at your credit union can maximize your money and help you can get a better handle on your funds to use your money much more effectively.
Federally insured by NCUA and Equal Housing Lender
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