Savings Accounts
Start Saving For Your Financial Future Today!
Grove City Area Federal Credit Union provides members with an assortment of services. Whether you prefer the convenience of technology with our online and automated services or the personal touch, Grove City Area Federal Credit Union’s dedicated employees are here to help our members.
Deposit Accounts
Whether it’s a lifelong dream or a weekend getaway, Grove City Area Federal Credit Union offers a variety of great savings options to help you get there. They’re all NCUA-insured, so you know your money is safe. Our deposit accounts let you earn competitive interest rates while keeping your money totally liquid so you can get to it when you need it.
Share Certificates
Share Certificates are the perfect way to save your money and earn a higher dividend rate at the same time. Share Certificates can be purchased for 6, 12, 18, 24, or 36 months. All Share Certificates require a minimum deposit of $2,000.00. Dividends are calculated monthly and posted to your share savings account on the 1st of each month. Members will receive a letter notifying them when their Share Certificates will mature and that the money will be deposited into their share savings account.
Money Market Accounts
A money market account is the perfect way to save your money and earn a higher dividend rate at the same time. With different tiers the interest goes up as your balance increases.
You must maintain the minimum balance required for a tier in order to earn the dividend rate for that tier. If on any given day your deposit balance falls below the minimum required for a tier, your dividends will be determined at the rate of the appropriate lower tier. If your balance drops below the $2,500.00 minimum at any time during the month, the account reverts to a regular share rate for the quarter.
Special Purpose / Escrow Accounts
A Special Purpose Account, can be used like an Escrow Account. The account is held in the member’s name to pay obligations such as property taxes and insurance premiums, etc.
With a Special Purpose Account you can set aside a little money each payday or whenever you wish and save yourself the worry of coming up with a large sum of money at one time.
Vacation Club Accounts
The perfect way to save for your next vacation. The Vacation Club Account works like the Christmas Club Account. Put money away when you can or have payroll deduction. Club funds will be deposited to your share savings account in May. Start planning now for that summer get-a-way in the sun!
Christmas Club Accounts
At least once during the year we all have a need for some extra cash – Christmas time! If you’re like most people, it isn’t always easy to set enough money aside ahead of time to cover these expenses and we usually end up putting these costs on a high interest credit card.
Make monthly or weekly deposits, it doesn’t matter. If your employer offers payroll deduction, take advantage and set aside a little money each pay period. Christmas club funds will be deposited to your share savings account in October so you can start your holiday shopping before the rush.