Consumers Credit Union Introduces High-Yield "Smart Saver" Account

 
John Coxon
Updated 11/13/2019 7:40 AM

Waukegan, IL, November 12, 2019: This past July, the Federal Reserve Board began a series of interest rate cuts to help stimulate the US economy. One consequence of the "Fed's" actions was a commensurate reduction in savings rates for those Americans trying to put some money away for their future. Consumers Credit Union (CCU; $1.3 Billion, Waukegan, IL) is bucking that trend with the introduction of Smart Saver, the historic credit union's new high-yield savings account.

"Our Members are often trying to save for a variety of future events," according to Valerie Skinner, Marketing Campaign Manager for the 90-year old credit union. "Many have expressed concerns about how they can reach their goals when savings rates are on the decline. CCU is addressing those concerns with an account that pays monthly dividends of 2% annual percentage yield (APY), The Smart Saver account is designed to help Members achieve their dreams of a wedding, a down payment for a home, new furniture or that long-awaited vacation far more quickly than they thought possible."

                                                                                                                                                                                                                       
 

CCU's Smart Saver account is a companion account designed to complement any of the credit union's checking account options, including its highly popular Rewards Checking product. Members with a checking account who deposit a minimum of $50, up to a maximum of $1,000 into their Smart Saver account each month, may qualify for an outstanding dividend that's approximately 20-times higher than the national average for savings accounts.*

"One of our goals with Smart Saver was to reward consistent saving habits. Whether a member is saving for a particular goal or simply wants to be prepared for when an unexpected expense arises, we designed the Smart Saver Account as a tool to put one's savings on autopilot. There are account activity requirements to obtain the high yield. These were designed to encourage Members to automate their savings and take advantage of other free services such as automatic deposit and electronic statements. Additionally, Members who have yet to open a Consumers checking account, can still earn 0.25% APY with Smart Saver."

For more information about Smart Saver, contact Valerie Skinner, Marketing Campaign Manager, at 847.672.1274 or valeries2@myconsumers.org. For complete rates and qualification requirements, please refer to CCU's Terms and Conditions at myconsumers.org. Consumers Credit Union is Member-owned, with Service Centers in Waukegan, Mundelein, Round Lake Beach, Gurnee, North Waukegan, Volo, Palatine, Schaumburg, Northbrook, Kildeer and Online at myconsumers.org.

____________________________________________

*"20% more than the national average" is based on Bankrate.com's published average rates as of July 2019.

0 Comments
                                                                                                                                                                                                                       
 
Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.