Savings Accounts

Find the Educators savings account that meets your needs.

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Features

Member-Owner Status

With just $5 in your Prime Share Savings account, you become a member-owner of Educators Credit Union.

Low or No Minimum Balance

Most savings accounts have a minimum balance of $5 or less.

Competitive Rates

Our savings accounts are designed to benefit you. Receive returns on your money with most Educators savings accounts.

Anytime Access

Online Banking and Mobile Banking give you the power to manage your account on your time. Check your balance, make deposits with FlashCash, and more.

Direct Deposits

Start receiving interest on your earnings as soon as possible by using direct deposit.

eStatements & E-Alerts

Get your statement emailed to you quarterly and set up e-alerts with Mobile Banking.

Joining Educators

Work or live in one of the 11 counties we serve? You can join Educators Credit Union! Apply online, using Educators Video Banking or call 262.886.5900 to open a new account with us*.

You will need:

Your Social Security Number (SSN) or Individual Tax Identification Number (ITIN).
A digital photo of your current state-issued Driver’s License, state-issued ID or passport with your current address.
Proof of address if it’s different than the address listed on your ID. Proof of address can be on a statement from another financial, utility bill, government document, etc.
A $5 minimum deposit to open your Prime Share Savings, which represents your ownership in the credit union.

*Custodial, student, rep payee, trust or fiduciary account cannot be opened using the online application. Please use Educators Video Banking or call the number provided.

Compare Accounts

	Prime Share Savings Account	High Yield Money Market Accounts¹	Premium Money Market Account²	Share Certificates³
Minimum opening balance	$5	$1,000	$10,000	$500
Activation or monthly fees	$0	$0¹	$0	$0
Direct Deposits	YES	YES	YES	YES
Anytime Access	YES	YES	YES	YES
ATM Card	YES	NO	NO	NO
Number of withdrawals	No Limit	No Limit	No Limit	No Limit
Terms	N/A	N/A	N/A	Terms from 91 days to 5 years
Interest rate increases	Interest is earned when the balance is $100 or more	Interest rate increases automatically as your savings balance grows to levels of $2,500, $10,000, $25,000 and $50,000	Interest rate increases automatically as your savings balance grows to levels of $10,000, $100,000 and $250,000	Competitive dividend rate fixed throughout the term (Jump-up options offer one rate adjustment during term of certificate. Add-on options offer the opportunity to add additional funds of $500 or more to the certificate.
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More Detailed Information
Rates

Types of Savings Accounts and Add-Ons

Prime Share Savings Account

A Prime Share Savings account is your ticket to being a member-owner with Educators. Your $5 deposit represents one share (and your ownership) in the credit union. You’ll now be able to use all of Educators’ services! Interest is earned on the Prime Share Savings account when your balance is $100 or more.

Open an account online or click on the Educators Video Banking tab on the right of this page to have a video meeting with our staff.

Change Up^® for Easy Saving

With Change Up savings, using your debit card helps you save money. Make non-PIN “credit” purchases with your debit card and we’ll round up the change to the next dollar and deposit the difference into a special interest-bearing savings account. All you need is an Educators checking account and to be signed up for eStatements.

You can’t make additional deposits to your Change Up savings, but you can withdraw money at any time. The Change Up amount will not be withdrawn from your checking until the transactions clear your account. On your eStatement and Online Banking checking history, your transaction will show the exact amount of each purchase. All Change Up amounts will be totaled and deducted from your checking as one daily item at the end of each day.

Call 262.885.6900 or use Educators Video Banking to open your Change Up savings account.

Student Savings

If you are 18 or younger, you can start saving through an account with us. If you are under 13, you can open a savings account with an adult. Visit our Student Account page for more information.

Health Savings Account

A Health Savings Account is exclusively used to pay for qualified medical expenses when you are enrolled in a high-deductible health plan (HDHP). Use it for current health expenses and save for future health expenses. Please talk to your employer’s benefits specialist to determine if you are eligible.

Our HSA offers a competitive rate with no minimum balance or annual fee except the initial $25 set-up fee. We will instantly issue an HSA debit card to let you conveniently pay for your qualified medical expenses. You can keep the account even if you change jobs, change your medical coverage or become unemployed.

Make contributions to your account in any amount (up to contribution limits), at any time. Contribution limits for 2021 are $3,600 if you have Single HDHP coverage or $7,200 if you have Family HDHP coverage. Out-of-pocket contributions are tax-deductible and HSA earnings are tax-deferred. Withdrawals are tax-free when used for qualified medical expenses.⁴

Call 262.885.5900 or use Educators Video Banking to open your Health Savings account.

Special and club Savings Accounts

Special savings accounts can be set up for any purpose. No minimum balance is required and interest is earned when the balance in the account is $100 or more. You can open a Holiday, Summer Pay or Vacation Club Account, or create and name a special savings account. Ask any Member Finance Representative for more information on these options.

Share Certificate Add-on Options

Some of the Educators Share Certificates have Add-on options. The Add-on option allows you to add to the value of your Share Certificate by depositing a minimum of $500 to your Share Certificate at any time. The new money you add starts earning dividends the same day you make the deposit.

Check out the Share Certificate rates to see which certificates offer the Add-on options.

Savings

TYPE	DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY	MINIMUM TO OPEN
¹APY = Annual Percentage Yield. Rates are subject to change after account opening. Member may be subject to $2 monthly service fee if receiving paper statements. Member may opt-in to eStatements to have fee waived. Fees could reduce earnings on the account. ²HSA has $25 set-up fee. ³There is no minimum deposit required to open a Saver’s Sweepstakes account. This sweepstakes is open to Wisconsin, Illinois and Minnesota residents only. Entries are tallied for the primary owner on the account. Fiduciary and business accounts are not eligible. Account withdrawal could impact your total number of entries. A closed account will result in the forfeiture of all sweepstakes entries. Visit the Saver’s Sweepstakes page for full details.
TYPE Prime Share Savings	DIVIDEND RATE 0.06%	APY¹ 0.06%	MINIMUM BALANCE REQUIRED TO EARN APY $100.00	MINIMUM TO OPEN $5.00
TYPE Change Up Savings	DIVIDEND RATE 0.51%	APY¹ 0.51%	MINIMUM BALANCE REQUIRED TO EARN APY $0.00	MINIMUM TO OPEN $0.00
TYPE Christmas Club	DIVIDEND RATE 0.06%	APY¹ 0.06%	MINIMUM BALANCE REQUIRED TO EARN APY $100.00	MINIMUM TO OPEN $0.00
TYPE Vacation Club	DIVIDEND RATE 0.06%	APY¹ 0.06%	MINIMUM BALANCE REQUIRED TO EARN APY $100.00	MINIMUM TO OPEN $0.00
TYPE Summer Pay	DIVIDEND RATE 0.06%	APY¹ 0.06%	MINIMUM BALANCE REQUIRED TO EARN APY $100.00	MINIMUM TO OPEN $0.00
TYPE Saver’s Sweepstakes³	DIVIDEND RATE 0.20%	APY¹ 0.20%	MINIMUM BALANCE REQUIRED TO EARN APY $0.00	MINIMUM TO OPEN $0.00
TYPE Health Savings Account²	DIVIDEND RATE 0.76%	APY¹ 0.76%	MINIMUM BALANCE REQUIRED TO EARN APY $100.00	MINIMUM TO OPEN $0.00

High Yield Money Market Account

Dividend Rate	APY¹	Minimum Balance Required to earn APY²
¹APY = Annual Percentage Yield. Rates will not change until the next tier is reached (ex. balance of $2,500 to $9,999 will have a rate of 0.08% APY). Rates are subject to change after account opening. ²For IRA Money Market the minimum to open account is $25. Minimum to open regular Money Market account is $1000, $10 fee per month for daily balances below $1000. Penalties apply for “under the minimum daily balance”, which may reduce earnings.
Dividend Rate 0.06%	APY¹ 0.06%	Minimum Balance Required to earn APY² <$2,500
Dividend Rate 0.08%	APY¹ 0.08%	Minimum Balance Required to earn APY² $2,500
Dividend Rate 0.11%	APY¹ 0.11%	Minimum Balance Required to earn APY² $10,000
Dividend Rate 0.14%	APY¹ 0.14%	Minimum Balance Required to earn APY² $25,000
Dividend Rate 0.19%	APY¹ 0.19%	Minimum Balance Required to earn APY² $50,000

Premium Money Market Accounts (regular and IRA accounts)

DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY²
¹APY = Annual Percentage Yield. Rates will not change until the next tier is reached. Rates are subject to change after the account is opened. ²For Premium Money Market the minimum to open account is $10,000. Points for Perks cannot be used to increase the rates on the Premium Money Market accounts.
DIVIDEND RATE 0.060%	APY¹ 0.06%	MINIMUM BALANCE REQUIRED TO EARN APY² $10,000
DIVIDEND RATE 0.130%	APY¹ 0.13%	MINIMUM BALANCE REQUIRED TO EARN APY² $100,000
DIVIDEND RATE 0.190%	APY¹ 0.19%	MINIMUM BALANCE REQUIRED TO EARN APY² $250,000

Share Certificates

TYPE	DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY
Rates are for new shares only and require $500 minimum. A penalty applies for early withdrawal and other restrictions may apply. ¹APY = Annual Percentage Yield. Rates are subject to change. Penalties apply for early withdrawals, which may reduce earnings. **The Share Certificate Special is not for IRA accounts and the rate cannot be increased using Points for Perks. No other offers apply to increase the rate on this special. Change of Terms Notice: Effective 12/1/11, the early withdrawal penalty for new or renewed share certificates will be 90 days interest for terms of one year or less and 180 days for all terms over one year. Effective 8/1/14 for new Share Certificates, early withdrawal penalty will be the lesser of dividends earned to date OR the amount of dividends that would be earned during 25% of the share certificate’s term, measured in days.
TYPE 91 Day	DIVIDEND RATE 0.200%	APY¹ 0.20%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 182 Day	DIVIDEND RATE 0.300%	APY¹ 0.30%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 275 Day (Add-on)	DIVIDEND RATE 0.350%	APY¹ 0.35%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 1 Year	DIVIDEND RATE 0.399%	APY¹ 0.40%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 18 Month	DIVIDEND RATE 0.499%	APY¹ 0.50%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 2 Year	DIVIDEND RATE 0.599%	APY¹ 0.60%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 30 Month (Add-on)	DIVIDEND RATE 0.648%	APY¹ 0.65%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 3 Year	DIVIDEND RATE 0.748%	APY¹ 0.75%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 4 Year	DIVIDEND RATE 0.847%	APY¹ 0.85%	MINIMUM BALANCE REQUIRED TO EARN APY $500
TYPE 5 Year	DIVIDEND RATE 0.996%	APY¹ 1.00%	MINIMUM BALANCE REQUIRED TO EARN APY $500

Disclosures

¹There is a $10 monthly fee if the balance drops below $1,000. Fees can reduce earnings.²There is a $10 monthly fee if the balance drops below $10,000. Fees can reduce earnings.³Penalties apply for early withdrawals, which may reduce earnings.⁴See a tax advisor for full details.

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