primary savings account
A savings account with SunWest Credit Union is the gateway you need to tap into your potential as a part owner. All SunWest members begin with basic savings accounts that earn dividends, which is similar to the annual percentage yield. you would earn with a bank. Of course, the difference between credit unions and the big guys, is that we remember why you’re saving and we will create a plan to help you achieve your financial goals. Once you have established this basic savings account with us, you have the opportunity to open as many savings accounts as your heart desires. The best part? All of your accounts are conveniently linked to your main savings account and don’t require a minimum balance to keep them open. You heard right. Zilch. Nada. Zero minimum. Saving for the life you want has never been easier with a partner like us watching out for you.
primary savings account features:
own it
As a member, you own a share of SunWest Credit Union with your minimum deposit of $5, and you’ll start earning dividends on your shares immediately.*
make money moves
Electronically withdraw and/or transfer your money up to 6 times per month. If you reach the max, just visit one of our credit unions to complete your transactions. This limit resets the first of every month.
split it
Creating the life you want is hard when all your money is available at your fingertips. If you want to prevent yourself from giving into temptation, you can split your direct deposits between your checking account and savings accounts. That way, you won’t be able to buy that $5 coffee so easily every day when your money is working for you in a savings account.
set up a safety net
Don’t get tangled in the net of Overdraft Fees. No one wants to pay to use their own money. We get it. Set up your savings account to be a safety net instead! If you don’t have enough money on your debit card, Primary Savings can have your back until you’re able to move funds into your checking account.
Okay okay, I know I need to save, But where do I start? It all seems so daunting!
Ahh savings...the piece of the puzzle none of us want to think about because we just can’t “afford to save.” This is why saving gets a bad rap. A lot of us consider putting aside money each paycheck but then we pause because we think there is no way we can part with that money--we need every penny we can get these days! You CAN save for a better tomorrow. It just takes a little bit of discipline and a whole lot of grit. Of course, that means you will have to choose between a tangible item that you can hold in your hands right now versus the vision you have created for yourself further down the road. This is all a great pep talk, but how do you actually start saving? By simply being here and learning about your options, you’ve taken the first step. What may be a quick redirection for some, might feel like a giant leap for others. Luckily, that’s why you’ve chosen SunWest Credit Union as your partner in fighting the good fight. Stop by a branch today, or check out our educational resources now to open a savings account and learn how to tame the spending beast that lives within each of us.
how much should i be saving?
Financial stability is defined differently in each phase of our lives. The best way to set yourself up for success is to look at where you are, where you want to go, and how much you can afford to put aside to get there. Set realistic goals that you can achieve–don’t try to bite off more than you can chew, but don’t sell yourself short either.
are you really able to dedicate 50% of your paycheck to a rainy day fund?
Honestly, probably not.
Is it realistic to put 5% of that aside?
Honestly, it probably is.
Have that truthful conversation with yourself about what you can afford, and remember that it’s as important to tell yourself when it’s too much as it is to say when it’s not enough. Set yourself up to achieve your savings goals, and then push yourself harder when it makes sense for your financial journey.
