Financial peace of mind.

Having a savings account offers numerous benefits to an individual. For example, it provides a secure place to store money, safeguarding it from potential loss or theft. Next, a savings account allows the account holder to earn interest on their deposited funds, helping their savings grow over time. Also, having a savings account promotes financial discipline by encouraging regular saving habits and enabling individuals to set aside money for emergencies, future goals, or unexpected expenses.

What is a Savings Account?

A savings account is a type of credit union account that is designed for the purpose of saving money. It offers a safe and secure place to deposit funds and earn interest on the deposited amount. Unlike a checking account typically used for everyday transactions, a savings account is intended for long-term savings and building financial stability. Savings accounts often have certain restrictions on the number of withdrawals allowed per month but offer the advantage of preserving and growing funds over time.

What If You Need Access to Your Savings Account?

A savings account is different from a checking account, meaning you won’t have access to it through a Debit Card. However, you can access your savings through your credit union’s tellers, Online Banking, or an ATM.

The most important thing to note about your savings account is that it is for SAVING money – not for spending. There is a monthly withdrawal limit. Make sure to talk to your financial advisor for full details and understanding.

What is the Difference Between an Emergency Fund and a Savings Account?

An emergency fund and a savings account serve different purposes in personal finance. An emergency fund is a specific pool of money set aside to handle unexpected expenses or financial crises, such as medical bills or sudden job loss. Its primary function is to provide a financial safety net during challenging times. On the other hand, a savings account is a general account for accumulating funds over time, typically for planned expenses or long-term goals, like buying a house or funding a vacation. While an emergency fund focuses on immediate financial security, a savings account aims to grow wealth and fulfill future aspirations.

Savings Tips

How to Set Up Your Savings Account

FSU Credit Union requires a minimum deposit of $5.00 to open a Savings Account.  

Before you begin your application, FSU Credit Union will need the following items: 

  • State Registered ID  


  • Birth Certificate & Social Security Card 

Our financial representatives at every FSU Credit Union branch will help you set up your account through these steps. Please feel free to Contact Us for more questions.  

Savings Terms

Savings Resources

Track your finances with the Mint app

Mint is a free app allowing users to track their spending, saving, and budgeting goals. Mint enables users to track their transactions and monthly bills to set bill pay reminders. 

IOS Download – Mint: Budget & Expense Manager on the App Store 

Google Play Download – Mint: Budget & Track Bills – Apps on Google Play 

Try out this Saving Each Payday worksheet

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