At UKRFCU, we know that choosing the right savings option can make a big difference in helping you reach your financial goals. Whether you’re saving for a rainy day, planning a vacation, or building long-term wealth, it’s important to understand the benefits and differences between the most popular savings tools we offer: High Yield Savings Accounts, Money Market Accounts, and Share Certificate Accounts.
Here’s a breakdown to help you decide which one is right for you:
1. High Yield Savings Account
Best for: Everyday savers looking for flexibility and competitive rates.
What it is:
- This account provides a higher dividend rate than a regular savings account while providing more flexibility than a Certificate or Money Market account.
Benefits:
- Higher-yielding rate to grow your savings faster
- Easier access to funds when you need them
- Just a $5,000 minimum balance required to get started and begin earning
Why choose it:
This account is ideal if you want to earn a higher dividend than a standard savings account while maintaining easy access to their funds.
For full terms and conditions, please click here.
2. Money Market Account
Best for: Savers with higher balances who want a mix of better returns and limited spending flexibility.
What it is:
A Money Market Account is a type of savings account that typically offers a higher dividend rate than regular savings in exchange for maintaining a higher minimum balance.
Benefits:
- Tiered APY* rates based on your daily balances
- Stable option for savers looking for a high return and security
- Easier access to finds compared to a Share Certificate
Why choose it:
Perfect for those who want to grow their savings while still keeping some liquidity and limited transactional access.
For full terms and conditions, please click here.
3. Share Certificate Account
Best for: Long-term savers who don’t need immediate access to funds and want guaranteed returns.
What it is:
A Share Certificate is a time-based deposit that locks in your money for a fixed term and earns a guaranteed rate.
Benefits:
- Fixed, higher rates
- Guaranteed returns
- Terms from 3 months to 5 years
Why choose it:
If you don’t need access to your savings right away and want to maximize your earnings, Share Certificates offer stability and peace of mind.
For full terms and conditions, please click here.
Let’s Build Your Financial Future Together
Whether you’re just starting out or looking to optimize your savings strategy, UKRFCU offers secure, rewarding options designed for your needs. Ready to grow your money? Visit your local branch or explore our savings options online to get started today.
*APY=Annual Percentage Yield
**Terms and conditions apply.