Open a Credit Union Savings Account
Choose from a range of personal savings account options to help you prepare for everything from everyday expenses to major life events and retirement. With competitive dividend earnings, trustworthy financial guidance, and member-first service, your credit union savings account will grow with confidence.
Types of Savings Accounts that Fit Your Lifestyle
No matter your reason for saving money, there is a type of savings account for you. From high-yield savings accounts for your emergency fund to saving money for an upcoming trip, find the credit union savings account to help you meet your savings goals.
Basic Savings Account
- $5 minimum opening deposit
- Simple, convenient, flexible
- Save with confidence
Club Savings
- Plan ahead for Christmas or vacation
- Higher dividend rate than basic savings
- Contribute anytime
Money Market Savings
- Earn more while keeping funds accessible
- $1,500 minimum balance
- Offers higher dividend rates for higher balances
Certificates
- Terms start at six months with fixed rates
- Guaranteed returns for a set period of time
- Ideal for disciplined savers
Kasasa Saver®
- Pair with Kasasa Cash® or Kasasa Cash Back® checking account
- Earns 1.00% APY* on balances up to $50,000
Individual Retirement Accounts
- Designed for retirement or future education costs
- Offers tax advantages and higher dividend rates
- Prepare for your future
Watch Your Savings Grow!
Should you choose traditional savings accounts or a money market account that has the potential to accrue more dividends (interest)? Do you have a specific savings goal, such as Christmas, or do you simply want to save money for a rainy day?
The beauty of choosing a credit union savings account is that you don’t have to choose just one! Pick and choose the one that works best for you and become a member today!
How Lanco FCU Does Things Differently Than Regular Savings Accounts from Banks
Where you choose to open a savings account matters just as much as how you save. While banks and credit unions both offer savings options, they’re not created equal.
Credit unions are not-for-profit and member-owned, which means earnings are returned to members in the form of higher dividends, fewer fees, and better customer service, especially when it comes to your credit union savings account.
At Lanco FCU, all savings accounts are federally insured by the National Credit Union Administration (NCUA), offering the same level of protection as banks.
Plus, with local branches throughout Lancaster County and personalized service, it’s easier than ever to manage your savings goals. Open your account with Lanco FCU and start seeing the credit union difference today.
Frequently Asked Questions
Still have questions before you open a savings account? You’re not alone. Here are a few of the common questions new members ask before opening a credit union savings account.
What’s the difference between a credit union and a bank savings account?
Credit union accounts usually offer higher earnings and fewer fees. Credit unions are nonprofit, which means they return value to members instead of shareholders.
Is my money safe in a credit union?
Yes. Credit union accounts are insured by the NCUA for up to $250,000 per individual, just like FDIC insurance at banks.
Can I open a credit union savings account online?
Most credit unions let you open an account online in just a few minutes. You’ll typically need an ID, proof of address, and a small deposit.
What’s the minimum deposit to open a savings account?
Many credit unions require just $5 to $25 to open a savings account, making it easy to start saving.
Do I need to be a member to open a savings account?
Yes. But membership is easy to establish and often based on where you live, work, or worship. Once you’re a member, you gain full access to all credit union services.
Why do I even need to save money?
If an emergency were to happen today, would you have enough money saved to handle it? Or would financial strain pile on top of the stress of the unexpected? Unfortunately, nearly half of all Americans have less than $1,000 in savings! That’s hardly enough to provide peace of mind when life takes an unforeseen turn. That’s why opening a credit union savings account with Lanco FCU is a smart step toward financial stability. Saving money becomes easier when you have the right tools in place.
What types of life events should I consider saving for?
Saving money offers peace of mind, helps you stay prepared for emergencies, and allows you to gradually build funds for larger purchases or life events. A personal savings account is a smart way to put aside smaller amounts over time without draining your checking account.
Become a Member to Open Your Credit Union Savings Account Today!
Earning dividends (interest) on savings products is easy when you choose Lanco FCU! Choose the savings products that work best for you, like earning a higher dividend rate on a high-yield savings account or putting a set amount of money to work for a set amount of time with share certificates. Best of all, you can open your account online or at one of our branch locations. Choose your credit union savings account and become a member today!
*APY=Annual Percentage Yield. APYs accurate as of 2/1/2024. Rates may change after the account is opened. If qualifications in Kasasa Cash or Kasasa Cash Back (“checking account”) are met each monthly qualification cycle: (1) balances up to $50,000 in Kasasa Saver receive an APY of 1.00%; (2) balances over $50,000 in Kasasa Saver earn 0.35% dividends rate on a portion of balance over $50,000, resulting in 1.00%–0.64% APY depending on the balance. If qualifications are not met on the checking account, all balances in Kasasa Saver earn 0.05% APY. “Monthly Qualification Cycle” refers to a period beginning one calendar day before the first day of the current month through one calendar day before the last day of the current month. Qualifying transactions must post to and settle checking accounts during the monthly qualification cycle. Transactions may take one or more days from the date the transaction was made to post and settle the account. ATM-processed transactions do not count toward qualifying debit card transactions.