Savings Accounts

Every PSECU membership starts with a dividend-earning savings account. Your opportunities to save grow from there. All savings options are federally insured by the NCUA.

Choose Which Savings Options Work for You

A Regular savings share is the cornerstone of PSECU membership. And only $5 is required to establish and maintain it (additional savings shares have no minimum balance!)

Saving money puts you in control of your financial future. You’re putting money away now so you’ll have it when you need it for that down payment on a house, a college education for you or a special child in your life, retirement, or whatever is important to you and your family. Can money buy happiness? Conventional wisdom says no. But saving it for future goals can give you something else you can’t buy - peace of mind.

That peace of mind can be found in the form of gimmes, like a special rate for youth and free resources to help you make the most of your money. It’s also provided by one big difference that sets us apart from banks. While banks make profits for their corporate shareholders, credit unions like PSECU are not for profit and serve their members. You can feel good about saving with us because we’ve been making decisions that benefit our members for over 85 years.

Savings

coins
0.50% APY
Open Account

Already a member?

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Would you like to add a savings share to a new account or an existing account?

To add to an existing account, log in.

Existing Account
New Account

Money Market

ribbon
Greater Savings Rates
  • The more you save, the more you can earn, with dividends1 that grow alongside your balance. Increased earnings can begin with as little as $500 in your account.
  • No deposit or withdrawal limitations.
  • Federally insured by the NCUA.

Youth Savings

bank
2.00% APY
  • Earn a special higher-yield savings rate2 on balances of $.01 to $500.00 in accounts opened for, or owned by, youth under age 18.
  • Help your child learn money management skills.
  • Federally insured by the NCUA.
Open Account

Already a member?

Yes
No

Long-Term Savings Options

Individual Retirement Account (IRA)

Our IRA options allow you to pick the account that will best position you on your path to financial freedom. Choose from a Traditional IRA, Roth IRA, or Coverdell ESA.

Learn more about IRAs
Certificates

Whether you’re looking for a short- or long-term investment, we have a certificate that will help you work toward reaching your financial goals.

Learn more about certificates

Calculate Your Savings

Use our calculators below to determine how long you need to save and how much money to save. And be sure to check out our resources to learn more about money management.

Up Your Savings Smarts

When it comes to money, we have the resources to teach you how to save it. You work hard for your money. Let’s help you keep more of it where it belongs - with you.

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Savings

Valid as of 09/28/2023 11:34 PM EDT 
Description APY* Dividend Rate
Regular Savings Shares 0.50% 0.50%
Youth Savings (Balances of $.01 to $500.00) 2.00% 1.98%
Youth Savings (Balances of $500.01 and over) 0.50% 0.50%

Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Regular shares require a minimum balance of $5 to open the account. Youth Savings Accounts will earn a higher APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply.

View Truth in Savings Account Disclosures.

*APY denotes Annual Percentage Yield.

 

Money Market

What are the benefits of opening a money market account?

Money market accounts allow you to earn a higher dividend when you maintain a certain minimum balance. This allows you to increase your savings at a faster rate than a Regular savings account. However, because there are no restrictions as to when or why you withdraw funds from the account, a money market account also allows you to keep your money in a liquid state to pull from when needed, without penalty.

How to Open a Money Market Account

  1. Log into online banking.
  2. Click on the menu in the top left corner.
  3. Under Accounts, click Add Product.
  1. Join PSECU.
  2. Follow the prompts on the screen to join PSECU.
  3. Once you're a member, log into online banking, open the menu in the top left corner, click on Account, and then select Add Product.

Current Rates

Valid as of 09/28/2023 11:34 PM EDT 
Description APY* Dividend Rate
Balances of $500.00 to $4,999.99 2.50% 2.47%
Balances of $5,000.00 to $19,999.99 2.50% 2.47%
Balances of $20,000.00 to $49,999.99 2.50% 2.47%
Balances of $50,000.00 to $99,999.99 2.75% 2.72%
Balances of $100,000.00 and over 3.00% 2.96%

Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Money Market accounts require a minimum of $500 to earn dividends.
Business Accounts: Business Money Market accounts require a minimum of $2,500 to earn dividends.

View Truth in Savings Account Disclosures.

*APY denotes Annual Percentage Yield.

FAQs

What’s required to earn the dividends associated with a specific tier?

To earn the dividends associated with a specific tier, your balance must reach the minimum balance requirement of that tier. Dividends are calculated on actual daily balances. If your daily account balance falls below $500, you won't earn dividends until your daily balance again reaches $500. Dividend rates are declared monthly, compounded daily, and paid monthly into money market accounts.

What happens if my money market account’s balance drops below $500 or below the minimum of a tier?

If your daily account balance falls below $500, you won't earn dividends until your daily balance again reaches $500.

If your balance falls below the minimum of a tier, you’ll earn dividends at the rate of the tier that matches your account balance. For example, if you move from the third tier to the second tier, you’ll earn dividends at the rate associated with each tier for the days that your balance fell within those tiers.

1Dividends (which you may call interest): Based on day of deposit to day of withdrawal. Dividends are calculated on actual daily balances. If your daily account balance falls below $500, you won’t earn dividends until your daily balance again reaches $500. Dividend rates are declared monthly, compounded daily, and paid monthly into Money Market Shares. Payment of dividends is based on the available current and undivided earnings of PSECU. The Annual Percentage Yield (APY) for a deposit of one year or less is based on the assumption that both the deposit and dividends remain on deposit for a full year. A withdrawal will reduce earnings. Regulations prohibit dividends in excess of PSECU’s available earnings.

2 To be eligible for the Youth Savings rate, the primary account owner must be under the age of 18. All eligible Youth Savings Share accounts earn 2.00% APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply. Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Find our current dividend rates at psecu.com/rates. PSECU requires a $5 minimum balance to open and maintain a Regular share account. This $5 share account deposit is also required to be eligible to receive the Youth Savings rate, and the member must be in good standing as defined by PSECU's Bylaws, Article II, Section I. PSECU will make a $5 minimum share purchase on behalf of the member.