Savings accounts to help you achieve your financial goals and dreams
Opening an Educational Systems Federal Credit Union savings account with $5 establishes your Credit Union membership. Once you're a member, you're always a member even if you graduate, change jobs or move.
You can access the money in your savings account with an ATM card or debit card at 28,000 surcharge-free CULIANCE "CU Here" ATMs, in a branch, or through Online Banking, Mobile Banking and the Audio Response Teller (ART). Plus, that savings account can be linked to a checking account to provide overdraft protection for up to six transfers per month.1 To help you save regularly, you can have part of your Direct Deposit put into your savings account. Dividends are compounded and credited quarterly, and deposits are insured up to at least $500,000.
Once your base savings account is opened, you can open additional accounts to help you save for specific purposes.
Open additional savings accounts and create a nickname for each account in Online Banking. You can access your money in a branch or through Online Banking, Mobile Banking and the Audio Response Teller (ART).
Special Purpose Club Accounts
Start saving for the holidays, a birthday or a big vacation with the Special Purpose Club Account. When you open the account, you can select the maturity date that is once every calendar year on the first of the month.2 At maturity, the account balance is automatically transferred to the savings account you designate at the time of account opening. Then start saving again, because your Special Purpose Club Account will remain open. Early withdrawals can be made without a penalty, but the account will be closed. To help you save, there is no ATM access.
1 For Savings Accounts, no more than six (6) pre-authorized, automatic, Audio Response Teller (ART), online, or Checking Account overdraft transfers may be made from this account to another account in any month, and no more than three (3) of these six (6) transfers may be made by check, draft or debit card to a third party. Transactions beyond these limitations will not be permitted and could result in fees/charges. This restriction does not apply to paper transactions performed in person or through the mail. We reserve the right to limit cash withdrawals if necessary.
2 For a Special Purpose Club Account, the entire balance will be transferred to the Savings Account on the first week of the month designated by the member and the account will remain open. If any of the account balance is withdrawn at any time during the year, the account will be closed, and the full balance will be transferred to the Savings Account.