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.
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.1
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 The Change Up amount will not be withdrawn from your checking until the transactions clear your account.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.
Contact us or open a new Change Up account in Online Banking.
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 2019 are $3,500 if you have Single HDHP coverage or $7,000 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.3
Contact us to open your Health Savings account.
Other Special 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.
Contact us to open a special savings or use Online Banking.
Share Certificate Jump-up and Add-on Options
Some of the Educators Share Certificates have Jump-up or Add-on options. The Jump-up option allows you to request a rate increase when our rates increase once during the term of your Share Certificate. You will receive the higher rate for the remaining term of the certificate.
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 Jump-up and Add-on options.