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PHONE: 215-934-3500 or 800-832-PFCU

ABA Routing # 236084298

Savings Accounts

Got a big purchase in mind? A tropical getaway? Or maybe you just want your money to work a little harder. Whatever’s down the road, our great rates can help get you there that much faster.

Savings Accounts
Which Savings Account is Right for You?

Choosing a savings account can be daunting, with financial institutions offering bank accounts that meet your financial planning needs at every step of your life. At Philadelphia Federal Credit Union, we've set out to make the process easier by providing information designed to inform you and help your journey towards a better financial future. When shopping for a savings account, the terms below will help you understand the benefits to you.

Saving Accounts | High-Yield Savings Accounts | Wire Transfer | Annual Percentage Yield (APY) | Minimum Balance



Savings Accounts

A savings account is a ubiquitous term in today's culture. The main point to remember with all savings accounts is the idea of stability. These account types present the option to grow your money without the risk of investments not returning a value. As a form of investment, the downside is that the growth is small, but to the main point, stable and reliable. Savings accounts should provide ease of use and liquidity to your money at the cost of lower interest rates than other investments. Savings account interest is taxable income, and sometimes the federal government will cap the maximum amount of withdrawals in a month.

High-Yield Savings Accounts

A high-yield savings account typically offers much higher dividends than a standard savings account. This increase is accomplished by utilizing tiered balance requirements, initial deposit amounts, and sometimes account fees. With stricter account standards, interest rates can sometimes reach much higher than the national average at a given moment. Utilizing a high-yield savings account offers the best opportunity to grow your financial situation without risk if you can meet the criteria.

Wire Transfers

Wire transfers allow banks and transfer agencies worldwide to move money electronically from one financial institution to another. Savings accounts often utilize electronic transfers due to the account funds' non-tangible nature and the funds' size. When shopping for a savings account, look for the institution's wire transfer fees if they exist. Some savings accounts will even come with a free maximum amount of transfers or free transfers based on specific limits.

Annual Percentage Yield (APY)

The APY for an account is the return earned over a year for that savings account based on the effect of compounding interest. Annual percentage yield is one of the most important factors when determining which savings account to open. It determines the growth rate for your funds in a specific account with higher APYs building your savings faster. Higher APYs generally require stricter controls on depositing, withdrawal, and general usage of the funds.

Minimum Balance

A bank account's minimum balance is how financial institutions determine what qualified benefits are available. Typically, savings accounts utilize a minimum balance to create a rate structure for dividends with higher amounts reaching greater returns. When shopping for savings accounts, look for a minimum balance that fits your budget and spending habits while providing the best return available to you.

Regular Savings

Regular Savings

Every PFCU member starts here. With your initial $5 deposit, you’re a part of the community. And it gives back, in the form of dividends, too.

Features of Regular Savings ▸
Details for Regular Savings ▸
Open a Regular Savings Account ▸

Fees

None

Minimum Balance

$5 minimum balance, $50 minimum balance to earn dividends

Dividend

0.10% APY

Features

Here are some other features available to you.

  • You can make withdrawals using ATMs or any PFCU branch.
  • Deposits may be made through Direct Deposit, ATM, our Philadelphia FCU Mobile App, or at any PFCU branch.
  • Dividends are compounded daily and calculated on the daily balance when the balance reaches or exceeds $50.
  • Dividends are paid on the last day of each month.

Terms

A $5 initial, refundable deposit opens your savings account. This deposit empowers the member as a shareholder in our credit union and must remain in their account to retain membership privileges.

Open a Regular Savings Account
Higher Yield Savings

Higher Yield Savings

Want to make your money work even harder? This savings account delivers with a tiered interest structure that pays more interest when your balance exceeds $2,000.

Features of Higher Yield Savings ▸
Details for Higher Yield Savings ▸
Open a Higher Yield Savings Account ▸

Fees

None

Minimum Balance

No minimum balance, $50 minimum balance to earn dividends

Dividend

0.10% APY if balance above $50

0.10% APY if balance above $2,000

0.20% APY if balance above $10,000

0.30% APY if balance above $25,000

Features

Here are some other features available to you.

  • Make withdrawals at any PFCU branch or transfer the funds to another account via Mobile App, Teller Net or Teller Phone.
  • Deposits may be made at any PFCU branch.
  • Free monthly statements available by mail and electronically through Teller Net.
  • Open to all member accounts.
Open a Higher Yield Savings Account
Money Market Savings

Money Market Savings

A high-rate alternative to a regular savings account you can withdraw funds from, without penalty, whenever you like.

Features of Money Market Savings ▸
Details for Money Market Savings ▸
Open a Money Market Savings Account ▸

Fees

$5 if the minimum balance of $2500 isn't maintained

Minimum Balance

$2500 minimum balance

Dividend

0.10% APY if balance above $50

0.10% APY if balance above $2,500

0.20% APY if balance above $10,000

0.30% APY if balance above $25,000

Features

Here are some other features available to you.

  • Dividends are compounded daily and are calculated on the daily balance when the balance reaches or exceeds $50.
  • Dividends are paid on the last day of each month.
  • You can make withdrawals at any PFCU branch.
  • Deposits may be made at any PFCU branch.
  • The first box of checks is included

Restrictions

  • Only six (6) withdrawals may be made per month.
  • Funds are not accessible through ATMs.
  • Please refer to our account agreement for full account disclosure.

Terms

  • Dividend rate will increase if the minimum daily balance reaches $2,500, $10,000 and again at $25,000.
Open a Money Market Savings Account
Holiday & Vacation Club Savings

Holiday & Vacation Club Savings

Savings accounts designed for something special that help you to save a bit at a time, and get you on your merry way.

Features of Vacation Club Savings ▸
Details of Vacation Club Savings ▸
Open a Vacation Club Savings Account ▸

Fees

None

Minimum Balance

No minimum balance, $50 minimum balance to earn dividends

Dividend

0.10% APY

Features

Here are some other features available to you.

  • You can make withdrawals at any PFCU branch.
  • Deposits may be made at any PFCU branch.
  • Dividends are compounded daily and are calculated on the daily balance when the balance reaches or exceeds $50.
  • Dividends are paid on the last day of each month.
Open a Vacation Club Savings Account
Savings Certificate

Savings Certificate

Stash your cash with us — and we’ll thank you with higher rates. The longer you park your money with us, the more dividends you earn.

Features of Saving Certificate ▸
Details for Saving Certificate ▸
Open a Savings Certificate ▸

Fees

None

Minimum Balance

As low as $250

Dividend

View chart ▸

Features

With a PFCU Savings Certificate, the longer you save your money with us, the better dividend rate you’ll earn. And our rates are some of the best in the area. What's more, your money is insured by the federal government up to $250,000 per depositor. PFCU members enjoy additional coverage up to $250,000 from Excess Share Insurance Corporation, a licensed insurance company. For low minimum deposits, you pick the term. And the longer you save your money with us, the higher the dividend rate gets.

Open 6 Month or 1 Year Savings Certificate
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National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Excess Share Insurance Corporation 
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Since they are not a deposit of the Philadelphia Federal Credit Union, investment accounts do not qualify for Excess Share Insurance (ESI). Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.