Establish Greater Peace of Mind

When it comes to finances, convenience is essential. If you need a place to keep money you use for everyday expenses, a checking account might be your first choice. But if you want to set aside money for future needs and goals, opening a savings account at The Focus Federal Credit Union is a great option. The process is simple and can be done online or at one of our branches. 

With a traditional savings account, you can build an emergency fund, save for a short-term goal, or simply earn a little interest. Having your money in a separate account not only helps you avoid using it for day-to-day spending but also provides confidence in your financial planning.

Discovering the right bank account for you is a journey, and we’re here to guide you every step of the way. Whether you prefer to explore our online banking resources or have a one-on-one discussion in a branch, we’re ready to help you achieve your financial goals.

A traditional savings account with Focus Federal Credit Union provides:

• Easy Access. Savings accounts allow you to keep your cash stowed away while providing easy access in case of an emergency. Unlike certificates of deposit or other investments that may charge a penalty fee for withdrawal, savings accounts are extremely liquid. 
• Linking Protection. At TFFCU, transfers between your savings and checking accounts take effect immediately, providing instant reassurance about your financial transactions. You can also link your accounts for automatic transfers or overdraft protection, adding an extra layer of security to your finances.
• Financial Growth Opportunity. A savings account with TFFCU keeps your money safe and helps it grow. You can earn interest on the money in the account, and with deposits being NCUA insured, you can rest assured you’re protected, up to $250,000.

To open a savings account, you can conveniently apply online or at a credit union branch. You’ll need your Social Security Number, contact information, proof of residence and at least one form of identification, such as a driver’s license or a passport. 

Your account is established with a $5 deposit. Once you open it, you can deposit cash or checks or initiate a wire transfer. You have online and mobile access to manage your savings.

Opening a traditional savings account at Focus Federal Credit Union is a way to keep savings easily accessible while earning interest. You can withdraw your money when needed, making a savings account flexible for meeting short- and long-term financial goals. It’s not just about saving for today, but also about building a brighter financial future. Opening a savings account is a good idea, no matter your financial goals or how much money you can save regularly.

A traditional savings account with Focus Federal Credit Union can help you: 

• Prepare for the Future. It’s difficult to predict what the future holds. Even if you know what you want the next few years to look like, it may not pan out as you envision. Or your plans might change. Either way, savings allow you to prepare for the future and give your future self the gift of choice.
• Plan for the Unexpected. If you’re not prepared with savings, an already stressful event can worsen as you scramble to pay for it. Some unexpected expenses are relatively small — a flat tire, a broken appliance, or a medical bill. But other expenses, like a new roof or furnace, can be costly. 
• Work Toward Your Goals. Whether you’ve always dreamed of buying a house, purchasing your ideal car, or sending your kids to college with all expenses paid, saving money allows you to reach your life goals. 

TFFCU’s Money School offers a range of resources to help you manage your finances better. From budgeting tips to investment strategies, our Money School is designed to empower you with the knowledge and skills you need to make the most of your money.

What is a savings account?

A savings account is a type of account offered by banks and credit unions. It’s a safe place to deposit money you don’t use for everyday spending. Unlike most checking account funds, the money you put into these accounts accrues interest. This means the bank pays you a small percentage of your total balance, usually on a monthly or yearly basis, helping your savings to grow. 

How do you open a savings account?

Opening a traditional savings account is a straightforward process. You can do it online or by visiting a TFFCU branch. You will need your government-issued ID, cash or checks you wish to deposit, contact information, and a Social Security or taxpayer-identification number. It’s that simple! 

How do you keep your money safe in a savings account?

At TFFCU, your money is in safe hands. As an insured financial institution, your savings account funds are federally insured up to $250,000. This also protects your peace of mind and the safety of your money.

Is a savings account worth it?

Yes, a savings account is worth it. It’s a secure place for your emergency fund and money you plan to use in the next three to five years. You’ll have the cash at your fingertips and earn interest. It’s a smart and reliable choice for your financial planning.