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Savings Accounts

We care [about helping you save].

Simple, Secure Saving

Financial Computing

Savings and Checking Rates

TypeMinimum BalanceRateAPY*
Share$25.00 (minimum) - $9,999.990.10%0.10%
Share$10,000 and above ($25.00 membership share required)0.15%0.15%
Whiz Kid Share$25.00 (minimum) - $999.991.50%1.51%
Whiz Kid Share$1,000.00 - $9,999.990.10%0.10%
Whiz Kid Share$10,000 and above0.15%0.15%
Share Draft (Checking)NA0%0%
Teen CheckingNA0%0%
IRA ClubNA0.50%0.50%
Christmas or All-Purpose Club$25.00 - $9,999.990.10%0.10%
Christmas or All-Purpose Club$10,000 and above0.15%0.15%
High-Yield Savings$1,500.00 (minimum) - $9,999.990.60%0.60%
High-Yield Savings$10,000.00 - $24,999.991.00%1.01%
High-Yield Savings$25,000.00 - $49,999.991.10%1.11%
High-Yield Savings$50,000.00 - $99,999.991.25%1.26%
High-Yield Savings$100,000.00 and above1.45%1.46%
APY (Annual Percentage Yield) effective 11/01/2023 and is subject to change without notice.
THIS DISCLOSURE CONTAINS NECESSARY TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES. PLEASE BE CERTAIN TO READ THIS DISCLOSURE CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
In this disclosure the reference to “We”, “Us”, “Our” and “Credit Union” mean Saco Valley Credit Union. The words “You” and “Your” mean each person applying for and/or using any of the services described herein. “Account” means the Share account(s) established for you as set forth herein. For joint accounts, read singular pronouns in the plural.
THE BELOW APPLIES TO SHARE, WHIZ KID, CLUB, HIGH-YIELD, IRA SHARE, AND COVERDELL ESA ACCOUNTS:
Rate Information. For dividend bearing accounts, the dividend rate and APY may change every dividend period based on the determination of the Credit Union Board of Directors. Savings Accounts are subject to a Tiered Rate. Your account will earn dividends according to the daily balance in your account related to the table above.
Minimum Balance Requirements. To open any account, you must deposit or already have on deposit at least the par value of one full share in any account. The par value amount is $25.00. The minimum balance requirements applicable to each account are stated above. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield.
Nature of Dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Compounding and Crediting. The dividend period is monthly from the 1st day of each month to the last day of each month and dividends will be calculated on your average daily balance for each day on which your balance equals or exceeds the required minimum balance. Dividends will be compounded and credited to your account.
Balance Computation Method. For dividend-bearing Accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in Your Account each day.
Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Fees and Charges. Any fees and charges applicable to Your Account are disclosed separately in the “Fee Schedule”.
Fees and/or withdrawals may reduce earnings.

Frequently Asked Questions

What is a high-yield savings account?

A high-yield savings account is an account that offers a slightly higher rate of return.

  • Earn more with higher dividend rates
  • Minimum balance of $1,500 required

What is a Whiz Kids savings account?

Whiz kids accounts are available for children up to the age of 18. With a Whiz Kids Account, you can earn up to $20 per semester when you bring your report card into a branch. A report card with all A’s will earn you $20 and A’s and B’s will earn you $15 each semester. The student must be present with the report card - parents can not bring the report card in on the child’s behalf.

What are club accounts?

Like a share savings account, a club account is a separate one that you can use to save for whatever you wish! No minimum balance requirements. Types of club accounts:
  • IRA Club
  • Christmas Club
  • Vacation Club
  • All Purpose Club

What is a share/membership account?

Your share account will hold your membership share of $25. You can use this account as your savings account - adding whatever savings you have - but you must always maintain at least $25. Your savings are insured up to at least $250,000 by the National Credit Union Administration.


207-282-6169 | ROUTING NUMBER: 211288666