The Easiest Way to Save Money? Automate It!
We understand that saving money can be challenging for many. It's easy to lose track and save less than intended when savings aren't automatic. Often, people save only what remains after covering living expenses and discretionary purchases.
Introducing Savings Jar
Savings Jar is a "transactions round-up" module that empowers our members to enhance their savings effortlessly. Here's how it works:
- Members can select which checking accounts are linked to the program.
- Debit card transactions are rounded up to the nearest dollar, with the difference tracked on the account.
- Initially, members can deposit the rounded-up funds into a special savings account that earns a higher interest rate than our standard accounts.
Key Features:
- Flexible Choices: Members start with higher interest savings and will soon have charitable options.
- Seamless Integration: Effortless connection to checking accounts.
- Comprehensive Tracking: Contributions are fully tracked—monthly, yearly, and from program inception.
- User-Friendly Deployment: Easily accessible in our self-service channel.
- Support for Members: Especially beneficial for those living paycheck to paycheck.
If you have any questions or need further assistance, our dedicated team is here to help. Reach out to us via email at memberservice@cenfedcu.org or give us a call at 216-535-3200. We're always ready to support you on your financial journey.
*Savings Jar is designed to encourage increased debit card usage while simultaneously helping our members save at an enhanced interest rate, currently set at 5%. Dividends are credited to the Savings Jar account monthly, and round-ups from transactions are deposited nightly. Please note that the higher interest rate is subject to change and is set at the discretion of Century Federal Credit Union. Additionally, Century Federal Credit Union reserves the right to modify or discontinue the Savings Jar program and its features at any time. Participation in the Savings Jar program is subject to eligibility criteria set by Century Federal Credit Union.