Savings Accounts from FirstEnergy Family Credit Union
Saving money is undoubtedly important, but it’s not always easy. That’s why finding a financial institution that rewards its account holders is so helpful. FirstEnergy Family Credit Union is one of those places where saving money has its rewards. The following is a look at some of the savings accounts this credit union offers.
Share Savings Account
Owning a share savings account is usually a requirement to being a member of a credit union. Even though FirstEnergy members have to have one, the credit union still offers a generous savings rate. Right now, members earn an interest rate of .75% APY.
FirstEnergy Club Accounts
Club savings accounts are special savings accounts designed to help you save for specific goals. Here are the ones FEFCU offers:
Christmas Club
People often overextend themselves during the holiday season by spending more on gifts than they probably should. Whether it’s skimping on necessities or buying on credit during this time, the holiday debt hangover is an issue for many.
You can make holiday shopping much more cost-effective by budgeting and saving for it ahead of time with a Christmas club account. This account will automatically transfer to your primary share account one time per year on October 1st, which then gives you an entire 90 days to complete your shopping. Use automatic payroll deduction to deposit a small amount each pay and watch your Christmas budget grow with little effort.
The Plan It Save For It
You probably have at least one major expense planned for the future, whether it’s a vacation, wedding or college education. In order to help you meet your savings goal sooner, FirstEnergy Family Credit Union offers this special club account. This account is designed to separate your regular share account from your special savings projects and to help you budget for a future goal.
The club accounts have the same dividend rate of your shares account but may have limited withdrawals per year. A $5.00 minimum balance is required to open a club account.
For more information regarding these accounts, interest rates, membership eligibility and more, contact the credit union directly. Please note that rates are subject to change at any time at the discretion of FirstEnergy Family Credit Union.
