Savings Builder Accounts
Experts recommend having 8 months of income saved for surprise emergencies. Yeah, right! For many folks, building a savings account seems impossible. We all hope it will magically happen someday down the road but that someday never arrives.
If you struggle to save, you’re not alone.
DCCU can help! Our Savings Builder Accounts are customizable and are specially designed to help anyone reach their savings goals. Whether it’s for those surprise emergencies, a down payment on a house, or even a long awaited vacation - building your savings, even little by little, is your best financial strategy for a solid future.
The Savings Builder Account puts YOU in control.
You know what you need to be successful, so show us how you’d like your account set up - we have a number of options and tools to choose from.
Personalize the name
Have as many savings builder accounts as you want and customize the name of each one for easy identification like "vacation", "taxes", "emergency", etc.
Fee or no fee
Choose to have no withdrawal fee if you're really good at leaving your savings alone OR choose to have a $5 withdrawal fee* (WITH a higher Savings Booster interest rate) if you know you need that little extra incentive to not touch your savings. Check current rates.
Add a pledge
Choose if you want us to put a pledge on your account to add even another layer of "I'm-taking-too-much-out-of-my-savings-when-I'm-supposed-to-be-building-it-up" protection. Let's say you want to save up $1000. We put a pledge or hold on $1000. As you build up your account you won't be able to withdraw funds until you reach a balance of $1000, unless you contact us.
Set up automatic deposits - a must for successful savings and you won't even miss the money from your checking or payroll deposit.
More great features
- Set up Alerts in eBanking to automatically get updates on your progress.
- Start with any balance, even $0, and make deposits any time.
- Set up a goal in The Hub to watch your balance increase and finally hit your goal.
Need more help?
Get personal assistance setting goals with a DCCU savings expert. DCCU is with you every step of the way: from helping you set goals, demonstrating available tools, and helping you check your progress along the way. You can do it!
Savings Planning Chart
Use the chart to determine how much you need to save each pay period to reach your goal in 12 months.
Approximate savings after one year of automatic deposits. Accrued dividends not included.
Your next steps
Make this the year you turn it around and be a saver! It just takes a few minutes to get started. Stop in a DCCU branch or call 608 256-5665 today.
*Accounts with $5 withdrawal fee are allowed one free withdrawal per calendar year and earn interest at the Savings Booster level on amounts betwen $100 and $5000, balances over $5000 earn interest at the Regular or Savings Builder rate on the entire balance. Accounts with no withdrawal fee (Savings Builder) earn interest at the regular savings rate. Check current rates. Minimum balance to earn dividends is $100. Dividends are compounded and paid quarterly. $5 regular savings account required.