Bragg Mutual FCU
Bragg Mutual FCU

Savings, Money Markets, Share Certificates…What’s Best For You?

Are you looking for ways to save for your short-term or long-term goals? Savings accounts, money market accounts, and share certificates are some of the most popular short-term options to keep your money safe while giving you the chance to earn dividends*. Knowing the difference between each type can help you determine which fits your needs.

Regular Savings Accounts

Savings accounts have a relatively low-variable dividend rate with easy access to money, which can be useful in case of emergencies. With a Bragg Mutual FCU master savings account, you can access your savings account via the internet and phone, making it convenient to get money when you need it.

Money Market Accounts

Money market accounts tend to pay higher rates than a savings account, and still give easy access to your money. You can write checks against your Bragg Mutual FCU money market account. However, it has higher balance requirements in exchange for higher rates. Money market accounts are a great option for those looking for a place to park their cash in the short term while taking advantage of the higher rates.

Share Certificates

Share certificates offer the highest dividend rates, but require you to set aside a certain amount of money for a fixed period. If you attempt to access the funds before the maturity date, a penalty will be charged for early withdrawal. Since you’ll have restricted access, share certificates are ideal for long term planning that doesn’t require access to cash for a set period e.g. saving for your kid’s college tuition.

Depending on your situation, you can use any of these instruments as part of your overall savings plan.

Save for an Occasion

You can also take advantage of our Holiday Club and Vacation Club accounts to save for that special occasion.

Trust Bragg Mutual Federal Credit Union to save you money and make you money. We invite you to contact us at 910-222-1500 to learn more about your savings options.

For more money tips like this, visit BraggMutualFCU.org/Category/Money-Tips.

*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan or deposit rates are subject to change without prior notice. The information posted here is a service to our members. Although BMFCU strives for information accuracy, we do not guarantee or warrant information posted here. 

This credit union is federally insured by the National Credit Union Administration

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PHONE (910) 222-1500