What is a Savings account?
A Savings Account is the foundation of your membership at Sunlight Federal Credit Union, representing your ownership and connection to our cooperative community. This savings account is the first step toward accessing all of our financial products and services designed to help you reach your goals. Sunlight has additional options for savings, including a high yield savings account available for qualified members.
Savings accounts
A savings account is the first step to securing your financial freedom.
With a $25 member pledge upon meeting the credit union’s eligibility requirements, you can begin your journey with Sunlight Federal Credit Union today!
Money Market accounts
Features:
- Members may make up to six transfers or withdrawals per calendar month
- Must have minimum balance of $2,500 to earn dividends
- Minimum of $500 to open a Money Market Account
Benefits:
- Earns higher dividends with competitive rates
- Allows easy deposits and withdrawals
- Federally insured by NCUA up to $250,000
- Dividends paid monthly
Christmas Club
A Christmas club is a type of savings account in which people make routine deposits throughout the year. The accumulated savings are then withdrawn before the holiday season to provide funds for Christmas shopping and other holiday expenses, like travel.
High Yield Savings Accounts
Features:
- No minimum deposit required to open an account
- Dividends compounded and credited monthly
- Average daily balance used to calculate dividends
- Minimum balance of $1,000 required to avoid a service fee
- Minimum balance of $50 required to earn the stated APY
- Account withdrawal limitations apply
- Available exclusively to Star members
Benefits:
- Earn .15% APY on balances from $50.00 to $1,000.00
- Earn 2.00%–2.02% APY on balances of $1,000.01 or more
- Grow your savings faster with competitive, tiered dividend rates
- Benefit from consistent monthly dividend payouts
Saving Account Benefits
Free mobile & Online Banking
Securely manage your money anytime, anywhere with our intuitive online banking and mobile app. Enjoy a seamless experience with customizable account alerts, the ability to pay bills, secure biometric sign-in, and more tools that makes managing your finances feel easy.
NCUA Insured up to $250,000
Credit union members don’t need to apply to share insurance coverage as it’s provided automatically when they join a federally insured credit union. The Share Insurance Fund insures individual accounts at federally insured credit unions up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The fund is administered by the NCUA and is backed by the full faith and credit of the United States.
Free Automatic Transfers
With free automatic transfers, you can easily move money between your accounts on a schedule that works for you. Whether you set it up yourself through online banking or call in and have one of our employees make the transfer for you, it’s simple and convenient.
Become a Member
Being a member means you enjoy personalized service, exclusive financial benefits, and the support of a credit union that puts you first.