High-Yield Savings Accounts: What You Need to Know
If you're looking to make your money work harder for you, then you've come to the right place. Allow us to introduce Life+ Savings, SPC’s new High-Yield Savings Account (HYSA). In case you hadn’t heard, HYSAs are trending, and for good reason! But what exactly is a High-Yield Savings Account, and why should you consider one? In simple terms, a HYSA is a savings account that offers a high rate of return. This means your hard-earned money works hard for you in the form of earnings called “dividends,” allowing your savings to grow exponentially over time. Whether you're saving for a rainy day, a big purchase, a dream vacation, or your future, a HYSA can be a game-changer in achieving your financial goals.
Life+ Savings, SPC’s High-Yield Savings Account, offers tons 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 HYSA:
High Rates: With Life+ Savings, you’ll start to reap the rewards early on in your savings journey. This account pays dividends based on a tiered structure that pays high when you start low, proving every penny counts!
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.
HYSAs are a trend you’ll want to jump on; the sooner you get started, the sooner you begin earning big bucks! Remember: you MUST have a Life+ Checking Account with SPC in order to open a Life+ Savings Account. Find out more about the benefits of Life+ Checking, like travel & leisure discounts, cell phone protection, & shopping rewards by hopping over to our Checking page, dropping in one of our branches in Hartsville, Darlington, Cheraw, Florence, or Bennettsville; trying out our Virtual Branch using the button in the bottom right of your screen; calling us at 843-332-4506; or sending an email to our team: inquiries@spccu.org.
*After 3 withdrawals per month from your SPC Life+ Savings Account, your withdrawals will incur a $10 fee. Find more details by visiting our Savings page or clicking here.