Save With Us!
With SPC Savings Accounts, you can work smarter–not harder–to make sure your rainy-day fund, emergency money, or “fun money” is there when you need it. In addition to our basic Savings Account (which all credit union members have and is also called a “Share Account”), you can open a Christmas Club or Vacation Club Account to save up for those heavy-hitting spending seasons. Visit our “For Kids,” “For Students,” & “For Businesses” pages to find out more about several specialty Savings Accounts you (or your little one!) may be eligible for!
SPC Savings Accounts
No matter what you’re saving for, we make it easy to set yourself up for success. Open your first share (savings) account with a deposit of just $5.00, then add more as you up your savings game! Click through each account (below) to find the right fit for your lifestyle.
All savings accounts (with the exception of Life+ Savings) can be opened in person, via Docusign technology, or using the SPC Mobile App or SPC Online Banking.
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Share (Savings) Account
Consider this your starting point for savings! SPC's Share (Savings) Account is our basic account that not only houses your money but also establishes membership and voting rights in the credit union. Start with a minimum deposit of just $5.00 and earn dividends (calculated daily, paid monthly) as long as you keep your account open (with minimum balance of $5.00). PLUS, your Share (Savings) Account may be used as collateral for a Share Loan at SPC or to provide Overdraft Protection for a Share Draft Checking Account. How about that for multitasking?! Not sure how to get started saving? Meet with one of our Member Service Associates to set up Direct Deposit or Payroll Deduction and talk about other ways you can save big with SPC!Life + Savings Account
Saving money is easier & more convenient than EVER with SPC's Life + Savings* account, an exclusive benefit for SPC Life + Checking account-holders that proves every penny counts!
Life+ Savings, SPC’s High-Yield Savings Account, offers a host of benefits, making it easy to grow your savings while you focus on, well, just about anything else! High-Yield Savings Accounts offer high rates, access to funds, & NCUA-backed security, making them an excellent choice for anyone looking to maximize their savings potential with minimal risk. Here’s what you can expect from SPC’s Life+ Savings Account:
- High Rates: With Life+ Savings, you’ll start to reap the rewards early on in your savings journey. This account earns dividends based on a tiered structure that pays high when you start low, proving every penny counts! Scroll down to find an example of how the High Yield Savings Account tiers work to make this happen.
- Access to Funds: One of the best parts about High-Yield Savings Accounts is the liquidity and flexibility they offer. When your money is in a HYSA, you can access your funds relatively easily if needed. SPC’s Life+ Savings Account allows for a maximum of three withdrawals per month without penalty, making it convenient to manage your finances.
- NCUA-backed security: These accounts are insured by the National Credit Union Administration (NCUA), which means that your deposits are protected up to $250,000. Translation: you get to enjoy peace of mind that your hard-earned money is secure.
- No Minimum Balance Requirement
- Life + Savings provides the HIGHEST YIELD of any savings account we offer!
- Must have a Life+ Checking Account to open a Life+ Savings Account
- Dividends are calculated & paid monthly to the Life+ Savings Account
- May withdraw a maximum of 3 times per month; additional withdraws incur a $10 fee
- Life+ Savings Accounts are NOT eligible for ATM/ITM access
- Exclusive chance to enable Debit Card Round Up (DCRU), which deposits into your Life+ Savings Account (& this account only; see more details below)
- Debit Card Round Up is a BIG benefit of Life + Savings that automates saving every time you swipe. Here's how it works:
- Enable Debit Card Round Up (in the SPC Mobile App or Online Banking)
- Swipe your card! Every purchase you make with the debit card that's associated with your Life+ Checking Account contributes to your bottom line savings goals.
- The best part? You don't have to lift a finger. With every swipe, your purchase is rounded up to the nearest dollar.
- And then? With every purchase throughout the day, the difference between the purchase total and the round-up total is set aside. At the end of the day, round-up funds are moved in one bulk transaction into your Life + Savings account. *Members must be enrolled in a Life + Checking account to have a Life + Savings account. Life + Savings accounts are not required but may be opted-into at any time. Members must maintain a Life + Checking account through the end of each month to receive Life + Savings dividend benefits for the month. A maximum of 3 withdraws per month are permitted with the Life + Savings account; each additional withdraw will incur a $10 fee. Life + Savings accounts are not eligible for ATM/ITM access. Debit Card Round Up feature requires a Member to maintain both Life + Checking and Life + Savings accounts. Members who close a Life + Checking account during the month will also have their Life + Savings account closed. The closing balance of the Life + Savings account will be transferred to the Primary Share account & will receive dividend payout based on the current Base Share Rate for the month. In addition, the Member will also have Debit Card Round Up feature disabled if it was enabled previously.
More Benefits: In case you needed more convincing...
Other Details:
Debit Card Round Up (DCRU)**
**Debit Card Round Up can be turned ON or OFF any time using SPC Mobile App or SPC Online Banking. Debit Card Round Up is ONLY available to Members who have Life + Checking and Life + Savings accounts.Christmas Club Account
Don't let holiday spending put you between a rock and a hard place! Set aside money year-round so that when the wish lists roll around, you'll be ready! You can open a Christmas Club Account any time during the year and make deposits through regular payroll deductions, periodically by mail, or by transferring money from other credit union accounts. On October 1, 100% of the money in your account will be transferred to your savings account, and you'll get to enjoy the satisfaction of spending without the sinking feeling of buyer's remorse. To help you avoid temptation throughout the year, you'll be charged a $10 fee associated with every withdrawal you make from your Christmas Club Account outside of the holiday spending threshold. Your Christmas Club Account is renewed annually to encourage you to get into the habit of saving before you spend! This account is separate from any other credit union accounts.Vacation Club Account
SPC Vacation Club Accounts make it possible for you to set aside money for your dream vacation little by little so that when the sun and sand start calling your name, you can call back and say, “I’m coming!” Go ahead, open up a Vacation Club Account to make your dream getaway a reality. Open your account any time during the year and make deposits through regular payroll deductions, periodically by mail, or by transferring money. On May 1st, 100% of the money in your account will be transferred to your savings account and you’ll soon be setting sail for the trip you always dreamed of taking. To help you avoid temptation throughout the year, you’ll be charged a $10 fee associated with every withdrawal you make from your Vacation Club Account outside of the holiday spending threshold. Your Vacation Club Account is renewed annually to encourage you to get into the habit of saving before you spend! This account is separate from any other credit union account.
Life+ Savings: How it Works
The money you deposit into your High Yield Life+ Savings Account earns dividends based on an inverted tiered approach that pays high when you start low, proving every penny counts. Take a look at the table to the left to see how this works, and find an example of the dividends you’ll earn based on the amount you’ve got saved up!
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