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What’s in a Savings Account?

Savings accounts with your credit union typically come in one of three forms: regular savings, share certificates, and money market accounts. Today, we’re going to explore all three of these account types, so you can decide which might be right for you!

Regular Savings Account: This is the basic account all credit union members have, and exactly what it sounds like – a regular savings account. With an Xceed Regular Savings Account, you’ll earn quarterly dividends when you maintain a balance of $100 or more. Plus, you can enjoy direct deposit of your paycheck and easily tie your account to a checking account for fast access to your cash.

Share Certificates: These are special accounts designed to help you save for mid-range and longer-term goals (think: savings with a purpose). When you open a share certificate, you agree to leave your money with a credit union like Xceed for a specific length of time in exchange for a higher rate of return than you’d see on your regular savings account. Share certificate accounts (banks call these “certificates of deposit”) are great for getting you to specific goals – like buying a new car in a few years, or saving up for a down payment on a home.

Money Market Account: This savings option often offers a higher rate of return than a regular savings account, but without the time commitment of a share certificate! You still have easy access to your cash through transfers to your checking account, and you can enjoy weekly dividends (AKA interest), meaning the money you deposit grows faster, thanks to compound interest!

Regardless of which account you choose, you can’t go wrong by deciding to save more! For help getting started, visit or call 800.XFCU.222 (800.932.8222).


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