Savings AccountsMembership is required and subject to approval.

Money deposited in a savings account is meant to be stashed away and not withdrawn regularly. Think of these accounts as a safe place to hold money for future use like a large purchase, in case of emergency, or an investment some time down the road. Money in a savings account is considered a liquid asset, meaning you can access it easily and without penalty. To access these funds you can visit one of your financial institution’s locations or log in to digital banking to transfer it. You may also access it with a debit or ATM card linked to the account.

A savings account is a basic deposit account held at a financial institution that provides the account holder interest. Unlike a checking account, savings accounts are not meant to be drawn upon for regular daily expenses. Similar to checking accounts, savings accounts allow consumers to deposit cash to safe places that are often federally insured by NCUA or FDIC. First Tech deposit accounts are insured by NCUA or the National Credit Union Administration. The NCUA’s Share Insurance Fund has the backing of the full faith and credit of the United States. Credit union members have never lost even a penny of insured savings at a federally insured credit union. Depositing your money at an FDIC or NCUA insured financial institution also means you don’t risk cash on hand being lost or stolen.