Published on April 05, 2021
Choice Savings is here!
We’re excited to introduce this new savings product, and we think you’ll like it as much as we do.
On April 1, we officially switched our Savings Share to Choice Savings. Now all of your savings are listed under one account: Choice Savings. No more wondering how much you have saved in separate accounts; it’s all in one place. How easy is that?
The best part is, there’s nothing you need to do. We’ve done all the work.
For the last several months, we’ve been sending you emails and letters announcing this new product. We hope you’ve become accustom to all it has to offer. Here’s a short summation:
- The rate on this new tiered savings product will automatically adjust as your savings balance grows. The more you save, the more you’ll earn.
- No fees and no minimum balances to maintain.
- Your APY* is determined by your total balance.
- Because we believe that your money is worth its weight in goals, you can continue to set up “daily shares” now called Choice Goals to save for special events, like a wedding, or for your family’s future, like a college fund. If you had sub-accounts set up, they have already transferred to Choice Savings, so you don’t need to do anything.
- If you had a Money Market or a Money Market Plus, those funds have been transferred to your Choice Savings account.
- Your debit card will continue providing access to your savings balance.
- Your automatic transfers will continue as they are today. We took care of updating this information.
- Dividends will be paid monthly based on the aggregate balance of your Choice Savings Account and Choice Goals. The combined dividend will be deposited into your Choice Savings Account.
If you initiated automatic withdrawals or deposits to your Money Market or Money Market Plus account with an external company, you should update the transaction information. For more on that, and for other FAQs about Choice Savings, click here.
We think you’re going to enjoy the ease and access of this new savings product. If you have any questions, please contact us at 877.243.2528. We’re here when you need us.
*Annual Percentage Yield