How to Get the Most from Your Savings Account

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If you’re saving money, make it work for you by putting it in a savings account. At GCS Credit Union, we have a range of saving account options to help you make the most of your money and reach your financial goals. Here are some of the ways you get the most out of your credit union savings account with us.

Choose the Right Account

What are you hoping to achieve with your savings account? Consider your goals, and chances are that you’ll find a savings account at our credit union that will help you get there faster. If you’re simply looking for a place to increase your savings while earning interest, choose our free Kasasa Saver account or Member Savings. If you are saving a larger amount of money, opt for a money market account to earn higher interest rates. You can boost your interest even more with share certificates with high, fixed interest rates. Kids can start saving with our Youth Savings account, and you can work towards your retirement goals with our IRA options.

Use Direct Deposits

Saving money gets easier when it happens automatically. Set direct deposits for your savings account so that you don’t even have to think about putting the money aside. You may be surprised how quickly your balance will add up—and how little you will miss the money when it goes directly into your savings.

Diversify Your Accounts

You don’t save money for just a single purpose, so why put all of your savings into a single account. By using multiple savings accounts, you earmark money for specific needs and reach both short and long-term savings goals. For example, if you want to save for holiday expenses, open a Christmas Club account specifically for this purpose. These accounts reach maturity on October 15 annually, when the balance is transferred to your checking account for holiday spending.

GCS Credit Union is pleased to offer a wide range of financial products to help our credit union members reach their goals. From online bill pay to savings accounts and auto loans in O’Fallon, you’ll find all of the services you need to manage your money. To learn more about membership, call (618) 797-7993.

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