Savings

Savings (Membership)

“The doorway to all credit union services!"

A Membership Savings Account establishes your membership at East River Federal Credit Union. It also establishes your family’s eligibility to join. A Membership Savings Account works just like a regular savings account. This Savings Account represents your "ownership" in East River Federal Credit Union, and entitles you to voting privileges at our Annual Meeting.

  • A minimal deposit of $15.00 declares your membership.
  • Interest is paid monthly on the Average Daily Balance.
  • Quarterly statement with a Credit Union newsletter.
  • Federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

Becoming a Credit Union member and opening your account is easy! Simply apply online, request a new member packet via E-mail, or contact the Credit Union at (800) 667-6039 or (605) 256-8145.

Access your cash 24/7 with an East River FCU VISA® ATM Card!

You can even receive 24-hour access to your cash with an East River FCU VISA® ATM card. Enjoy unlimited, free ATM use throughout your neighborhood and all across the country. Use your card at any ATM on the CO-OP or MoneyPass Networks and you’ll be guaranteed a surcharge-free transaction. ATM’s outside of these networks may access a fee at the discretion of the ATM owner, however East River FCU will not access a fee.

Kasasa Saver®

"Build your savings with this free account exclusively available to Kasasa® checking accountholders!"

Kasasa Saver is a free, interest-bearing savings account that pairs perfectly with a Kasasa checking account. Kasasa Cash® and Kasasa Cash Back® checking accountholders can earn the highest rate on their balance each month just by meeting some simply, everyday banking activities. Even more — Kasasa Cash accountholders in particular can even have their monthly Kasasa checking reward earnings automatically swept into this interest-earning account. It’s a great way to collect and grow your earnings effortlessly!

  • No minimum balance required to earn rewards
  • Interest is paid on a Monthly Qualification Cycle
  • Quarterly Statement
  • No monthly maintenance fee
  • 0.25% APY* on balances up to $10,000
  • 0.25% to 0.07% APY on balances over $10,000 depending on balance in account*
  • 0.05% APY* if qualifications aren’t met
  • Both Kasasa Cash and Kasasa Cash Back checking accountholders can earn the highest Kasasa Saver rate when they qualify
  • Kasasa Cash, specifically, can be linked to have earned monthly rewards (both Interest Rewards and ATM Fee refunds*) automatically swept into Kasasa Saver for effortless saving

Open an account

It’s easy to qualify to earn the highest Kasasa Saver rate!

Qualifying for your Kasasa Cash or Kasasa Cash Back rewards automatically qualifies you for the highest Kasasa Saver rate, too. Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash or Kasasa Cash Back account during each Monthly Qualification Cycle:

  • At least 12 debit card purchases
  • Have at least 1 automatic payment (ACH) or direct deposit post and settle
  • Be enrolled in and agree to receive e-Statements

If for some reason you don’t meet qualifications, your Kasasa accounts are still free. Plus, you can get right back to earning your full rewards the very next monthly cycle. View the monthly cycle dates (PDF).

Not a member? Become one!

Special Savings

"Set aside savings for that rainy day!"

Saving for any special purpose is made easy with a Special Savings Account. This Savings Account is frequently used to make regular deposits for vacations, home improvements, taxes, unexpected medical expenses, etc.

  • No minimum balance is required to open and maintain a Special Savings Account.
  • Interest is paid monthly on the Average Daily Balance.
  • Quarterly statement.

Holiday Club

"Make your holidays more enjoyable by saving all year!"

The Holiday Club Account may be the perfect way for you to save for your holiday expenses. Through payroll deduction or other regular deposits, you will save systematically and painlessly. Holiday Club funds are automatically transferred to your membership savings account on the first Monday in November, allowing you plenty of time to shop for gifts or plan a winter vacation!

  • Holiday Club accounts may be opened at any time during the year.
  • No minimum balance is required to open and maintain the Holiday Club Account.
  • Interest is paid monthly on the Average Daily Balance.
  • Quarterly Statement.
  • Payroll deduction is an effortless, systematic way to save.
  • No monthly service fee is charged.
  • A $25.00 fee will be assessed for each early withdrawal prior to November 1st of each year.

Savings Rates

 

Need a little help figuring out your budget and saving? 

The path to a brighter financial future begins with a realistic budget.  This course will give you some tips for developing a budget and tracking your spending.

Start Course

*Qualification Information: Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. "Monthly Qualification Cycle" means the statement cycle preceding the current statement cycle.Contact one of our branch service representatives for specific Monthly Qualification Cycle dates.

Reward Information:
When your linked Kasasa Cash Back account qualifications are met during a Monthly Qualification Cycle, average daily balances up to and including $10,000 in your Kasasa Saver account earn an APY of 0.25% and average daily balances over $10,000 earn a dividend rate of 0.05% on the portion of the average daily balance over $10,000, resulting in a range from 0.25% to 0.07% APY depending on the account's average daily balance.
When your Kasasa Cash Back account qualifications are not met, no cash back payments are made and ATM withdrawal fees are not refunded. In addition, the entire average daily balance in the Kasasa Saver account earns a dividend rate of 0.05%% resulting in an annual percentage yield of 0.05% APY.
Dividends will be credited to your Kasasa Saver account on the last day of the current statement cycle.
The cash back payments and nationwide ATM withdrawal fee reimbursements earned in your Kasasa Cash Back account will be credited to your Kasasa Saver account on the last day of the current statement cycle.
APY = Annual Percentage Yield.
APYs accurate as of 10/22/2020.
APY calculations are based on an assumed balance of $10,000 + $100,000 in your Kasasa Saver account and an assumed statement cycle of thirty-one (31) days.
Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
Additional Information:
Membership restrictions may apply.
Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
No minimum deposit is required to open the account.
Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be required to meet some of the account's qualifications.
Limit of one (1) account per Social Security Number.
There are no recurring monthly maintenance charges or fees to open or close this account.
A Kasasa Cash Back account is required to have a Kasasa Saver account.
A linked Kasasa Saver account is required for automatic savings.
Advertised information and rewards are based on all account qualifications being met during each cycle period.
Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
Federally insured by NCUA.
Trademarks:Kasasa, Kasasa Cash Back and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.