$50 Is All It Takes to Start Saving Smarter

(NAPSI)—For many people, the hardest part of saving money is getting started. An emergency fund, a family vacation or a down payment can feel out of reach when you need a large amount of cash to achieve it. A certificate account with a minimum deposit of only $50 up front can change that. 

Why consider a certificate account?

A certificate account is a type of account that holds your money for a set period, or a term. In exchange, you earn a dividend rate for that term that’s typically higher than standard savings accounts.

Certificates often require a deposit that is too high for many. To help, GECU, one of the largest locally owned federal credit unions in Texas and New Mexico, offers a 12-month certificate account that can be opened with $50 and earns a competitive dividend rate.

“Saving money shouldn’t depend on how much you already have,” said Leticia Bueno, vice president—new account relationship center at GECU. “Too many people get turned away from a certificate account before they even start because of the minimum deposit requirements. By offering this $50 entry point, we’re removing that barrier so more of our members can start building toward their financial goals today, not someday.” 

Why a 12-month term?

A one-year term provides an opportunity to grow your savings while keeping your financial goals within reach. Think of next summer’s road trip, holiday gifts, a wedding or a cushion for life’s unexpected moments. When the term ends, you can decide what comes next. 

Little actions make a big difference

GECU’s 12-month certificate lets you add money any time, or you can set up automatic transfers, so your savings can keep growing all year. 

Tips to grow your savings and overall financial health

• Set a goal. Saving for something specific makes it easier to stay on track.
• Automate contributions. Align your transfers with payday to maximize your savings.
• Plan for the full term. Certificates are designed to hold money until the term ends. 
• Build a budget. Tracking where your money goes each month can make it easier to know how much to set aside. 
  
  

Getting started is simple

If you’re a GECU member, you can open a certificate account online today. If you’re not a member yet, you can become one by opening a GECU savings account with a one-time $10 deposit. 

Saving for the future shouldn’t require hundreds of dollars to get started. Everyone should have the opportunity to make the most of their financial well-being. With a $50 minimum opening deposit, a 12-month certificate can be a practical first step toward preparing for life’s most important moments.

To learn more or open a certificate account online today at visit gecu.com/certificateaccounts.

Disclosures: Membership eligibility is required. Must have a GECU share account to open a certificate account. Open a share account with a one-time deposit of $10. Insured by NCUA. 

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