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Traditional Savings Account

Home > Bank > Savings Accounts > Traditional Savings Account

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Traditional Savings Account

No matter what you’re saving for, this is the best place to start! A Traditional Savings account establishes your GenFed membership, giving you access to our wide variety of products and services.

This account is perfect for saving money long-term, building an emergency fund, or just setting money aside for a rainy day.

Traditional Savings Account Rates
Effective Date: 5/1/2024
Required Opening DepositMinimum Balance to Earn DividendsDividend Rate/APY (Interest Rate)
$5 $100.00 0.05%
Regular savings, money markets, accumulators and checking: Rates are subject to change at any time. Annual percentage yield on regular savings accounts is accurate as of the last declaration date of 1/1/2023. Rates may change after a savings, money market or checking account is opened. Disclosures available upon request. Minimum balance to earn dividends is $100 for regular savings, $1,000 for IRA, $2,000 for money market, $75000.01 for Jumbo Money Market and $1500 for eInterest and second tier of Premier Interest checking. Fees could reduce earnings on accounts. We may offer different rates in the future. APY = annual percentage yield.

You can make saving automatic with direct deposit, payroll deduction, or by setting up recurring transfers from other accounts. Plus, it’s easy to manage your savings with free online and mobile banking and your choice of free printed or e-Statements.

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APY = Annual Percentage Yield. See rates page for full rates disclosures.  ACCOUNTS INSURED UP TO $500,000. American Share Insurance insures each account up to $250,000. Excess Share Insurance Corporation provides up to an additional $250,000 of insurance per account.