Credit Union in New Bedford: Tips for Better Saving in 2017

Looking to start the New Year with a fresh start? One way to accomplish your goals is to learn how to save and grow your money better than you ever have before. St Anne Credit Union in New Bedford has a wide range opportunities that you can use to your advantage in this regard. From higher savings account interest rates to our credit union online banking tools, money market accounts and options for certificate of deposit in New Bedford, there are so many ways that you can store your savings and increase your return.

It is important to choose the tools that best suit your needs and your savings habits. Sometimes the accounts with the biggest payoff are also the strictest with regard to withdrawals and required balances, so you need to know all the details before you dive in and get started. You can use our website to browse the options available or you can speak with one of our representatives to get the inside scoop on all the ways to save at St Anne Credit Union in New Bedford.

Federally Insured Savings
One reason why so many credit union members trust the savings opportunities at their local financial institution is that they are federally insured by the U.S. government. The banking industry has the FDIC (Federal Deposit Insurance Corporation), which is an independent agency created by Congress to maintain stability and public confidence. For credit union members, there is the NCUA (National Credit Union Association), which insures members share accounts at federal insured credit unions like St Anne Credit Union in New Bedford through the National Credit Union Share Insurance Fund (NCUSIF). Established by Congress in 1970, this program was created to insure your shares in a similar way to bank deposits that are insured by the FDIC.

There are coverage limits with the NCUA insured program, just as they are with the FDIC insurance, up to $250,000 per share owner, per the insured credit union, for each type of account ownership category. This insurance protects credit union members against any losses that could potentially occur should the credit union fail. This provides members with confidence and reassurance against financial risk. No member of a federally insured credit union in New Bedford or anywhere across the country has ever lost even one penny from an account that was insured through the NCUSIF program. The types of accounts covered by this insurance can include regular shares, share checking, money market accounts and certificate of deposits in New Bedford.

Share Savings
When you become a member of St Anne Credit Union in New Bedford, you start by opening a Share Savings account. The savings account interest rates at credit unions can often be higher than the interest rates paid by the banking industry, depending on the economy. You can deposit money into your savings account at the physical branch location or use our credit union online banking program. You can check your balance, transfer money between accounts and even open up additional accounts through our website access. If you have any questions about how it all works, make sure to contact a representative right away.

Savings accounts are great for stashing cash, but they do earn lower savings account interest rates than money market accounts or a certificate of deposit in New Bedford. However, savings accounts are more flexible, meaning that if you needed to take cash out for an emergency there would be no penalty or restrictions. Other types of accounts require a minimum balance in order to continue making the higher interest rate payout and will often have a minimum term, ranging between six months and five years. The bigger the investment on your part, the more savings account interest rates you will get.

Visit St Anne Credit Union in New Bedford
If you are interested in learning more about savings account interest rates, credit union online banking, or would like to know about money market accounts and certificate of deposits in New Bedford, make sure to stop by St Anne Credit Union in New Bedford. Our team can help you to find the best solutions to help you increase your savings and put your money to work for you. We are located on Union Street in New Bedford or you can give us a call at 508-993-0011. Choose from a wide variety of checking, savings and investment opportunities at our local credit union in New Bedford.