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Savings
So many ways to save, so let’s do it.

Welcome to greater flexibility, convenience, and savings. Our savings plans are designed to work as you need them to--for rainy days, getaways, and holidays. Kids at college. Or that deductible on your upcoming knee surgery. So choose the right account for you and get saving today.

Membership Savings

A mere five dollars gives you access to this savings account. You can’t even buy lunch for $5 these days. And that’s just the start. We make saving easy with automatic deposits from your paycheck. Plus there’s no monthly fee if you carry a minimum balance of $250. So, more of your money stays yours and helps you reach your goals quicker.

  • Access your account at over 5,000 branches and over 30,000 free ATMs nationwide
  • Earn 0.25% APY* (most pay only .02%, if anything at all)
  • Perfect as overdraft protection on your checking account

Savings account required for Credit Union membership. After 6 months, you must maintain a minimum $250 balance or open any other type of account to avoid a $5 monthly service fee. 

Money Market

A Money Market account is what happens when the benefits of a Certificate of Deposit and a Checking account collide. Higher rates for higher balances, plus some checking features so you have access to your money when you need it. And, you can come visit us at a branch anytime to visit your money. It’s the perfect blend of ease of use and earning more money.

  • Earn more on your money
  • Higher balance earns higher rates
  • Check-writing abilities
  • Unlimited in-person transactions
  • $1,000 minimum opening deposit
  • Make up to 6 total withdrawals per month by check, phone, email, or online
  • All withdrawals must be at least $250

Online Savings

What happens when the Internet meets premium dividend rates? You earn more for simply managing your savings online. You hold onto more of your money, too, with no monthly service fees and no minimum balance to maintain your account. More savings and convenience--who doesn’t like the sound of that?
 

  • Convenient 24/7 online, FONLINE telephone and ATM access
  • Earn up to 0.50% APY*
  • $500 minimum deposit to open
  • Manage account online (no branch or call center access with this account)

Must maintain a minimum daily balance of $500 each day to earn Online Savings Account APY* (0.50%). Balances under $500 will earn Membership Savings Account APY* (0.25%).

Holiday Club

We’re like little financial elves that transfer money from your paycheck or checking account right into your Holiday Club savings, automatically. Get in the spirit with no monthly fees and no minimums to open your account. Consider it the perfect stress-free, don’t-give-it-a-second-thought, high-dividend-paying way to save for the holidays.
 

  • Funds are disbursed in early November each year, just in time for holiday shopping
  • Earn a very non-grinch-like 0.50% APY*
  • Additional withdrawals allowed for $20 fee per additional withdrawal

 

Certificate of Deposit

Certificates may not sound sexy. That is, until you get to the part about them earning the highest rates. In fact, we offer industry-leading rates on our certificates (also known as Certificates of Deposit or CDs).

Just choose your term from 3 to 60 months, and then we’ll make things extra interesting. If you enroll in Direct Deposit, we’ll bump up your rate by 0.25%.

And to celebrate our recently increased certificate rates, and the addition of a new 30 month term certificate, we’re giving you a SPECIAL OPPORTUNITY to boost your earnings even higher! Invest at least $1,000 using new funds (not previously on deposit) for certificates with a term 30 months or longer, and we’ll add a whopping 3% of your opening balance as a dividend bonus. This will increase your APY* for the first 365 days.

So what are you waiting for? Click below to open a certificate today

Learn more about Certificates of Deposit

Disclosures

IRAs

How you save for retirement can make the difference between crackers and caviar. We’ll guide you through the finer points of contribution limits, tax deductions, and required minimum distributions, so you can choose a retirement vehicle suited to your tastes.
 
Learn more about IRAs

My Account

Want to save for a much-needed vacation, down payment on a new home, or an upcoming improvement project? This account helps you save for whatever, whenever. Transfer money automatically from your paycheck or checking and watch your money grow. Earn more and pay less thanks to our higher dividends and no monthly fees or minimums to open your account. You can even withdraw your funds anytime you choose, once per calendar year. So go ahead and customize your account to get started.

  • Earn 0.50% APY*
  • Name your My Account whatever you choose (within reason, of course)
  • Additional withdrawals allowed for $20 fee per additional withdrawal.

Tax Saver

Don’t let the taxman sneak up on you. Set up automatic deductions from your paycheck and use this account as a convenient way to save for your quarterly or annual taxes. And we won’t charge you a monthly fee or ask for a minimum balance to open your account.
 

  • Earn 0.50% APY*
  • Funds are distributed to your checking or savings account whenever you choose, four times per year
  • Additional withdrawals allowed with a $20 fee per withdrawal

 

Health Savings Account

You want yachts, private planes and exotic vacations. Instead, you get a bill from your orthopedist. We take the sting out by giving you tax-free savings on qualifying medical expenses. 

Your Health Savings Account--or HSA, if you like acronyms--is like a regular savings account, except that it offers big tax benefits. It’s a handy way to feel more financially secure when it comes to your health care. You'll get a debit card to conveniently access your money and a competitive interest rate to make your funds grow.

And, unlike a Flexible Spending Account (FSA), there is no "use it or lose it" clause at the end of each year. The money you contribute is yours to keep.

Learn more about HSAs >>

Education Savings Account

It’s college time and that can cost a lot. Make sure there are no surprises with the Coverdell Education Savings Account (ESA). It’s the perfect way to save for education expenses and get tax benefits at the same time.
 

  • Yearly contribution limit of $2,000 per child applies
  • Hope and Lifetime Learning credits can be claimed in the same year as tax-free distributions are made, as long as the same expenses are not used for both
  • Distributions exceeding qualified education expenses are taxable to the beneficiary and may be subject to an additional 10% tax

For more info, visit our IRA Service Center

PRIVACY POLICYSECURITYDISCLOSURESTERMS OF USE

This Credit Union is federally insured by the National Credit Union Administration. This Credit Union is an Equal Housing Lender, we make loans without regard to race, color, religion, national origin, sex, handicap, or familial status.

© 2017 Farmers Insurance Group Federal Credit Union.

All rights reserved.