A savings account is a type of account offered by a financial institution allowing you to deposit funds with safety assurance. It helps you to manage finances and save for the future without locking the money away for a longer time.
Here are some reasons why you should open a savings account at a credit union:
Savings: Opening a savings account is a crucial way of money management. Regularly depositing money into a savings account prepares you for unexpected expenses or major life events. You wouldn’t have to rely on high interest lenders, as you’ll have a savings safety plug to bear sudden expenditures. It also offers interest on the funds enabling your money to grow over time & making it a sound investment.
Security: With a savings account in a credit union, your funds remain safe & secured. For example, funds deposited at Greater Central Federal Credit Union are insured by National Credit Union Share Insurance Fund (NCUSIF).
Easily Accessible: Funds in a savings account are easily accessible. You can withdraw funds anytime using provisions such as a debit card/ATM. Funds in a savings account can also be used for automated bill payments.
How to Open A Savings Account At Credit Union
- Become a member of a credit union to get access to various financial products and services.
- Apply for a savings account.
- Check the eligibility criteria and other requisites for the savings account.
- Collect all the required documents and start the procedure.
- Once your account is active, make sure to add funds to it.
Requirements for Opening Savings Account at GCTFCU:
- 2 forms of ID (original social security card and picture ID)
- The person should be living & working in the west of I-35
- $5.00 fee for opening an account
- $20.00 to remain in the account
Savings Accounts Available at GCTFCU
- Share Savings Account
- Certificates of Deposit
- Money Market Accounts
- Individual Retirement Account
- Christmas Club
- Vacation Club
Greater Central Texas Federal Credit Union offers various savings, investment & lending options in Killeen, TX. The credit union also provides multiple account services to savings account holders. For more details on savings accounts, visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX – 76542 or call (254) 690 - 2274. You can also contact us at
www.gctfcu.net