About Automatic Savings

What is Automatic Savings?

When automatic savings is enabled, whenever a deposit is made into the checking account, a 3% of it is moved into savings account. This is optional during enrollment. It can also be added at any time. 

This feature is optional and is not required to complete enrollment.  By activating this option, 3% of deposits made into the checking account, will automatically transfer to the savings account that night. To activate this feature, please check the box, “Activate Automatic Savings”.

Automatic Savings FAQ

Why can't I change the amount that is automatically saved?

The 3% in savings is a preset amount. If you would like more you can always transfer additional funds to savings manually. If the 3% is too high, it is recommend not enrolling in this feature and continuing to save the way you have before. 

In regards to “Automatic Savings,” which of my shares will the funds be deposited into?

The Automatic Savings will deposit to the first open savings account (which is the prime share) and is generated only from deposits made into the first open checking listed on the account (if there are multiple checking shares on the same account, only the first listed participates).

In regards to Automatic Savings, what happens when I have savings and no checking?

You are presented with an optional link to open a new checking account.

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Last updated on September 16, 2021.