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Club Accounts

Used for special purpose savings

Designed to help you save money for a specific goal or event. Whether you're planning a vacation, wedding, or holiday shopping — our Club Account makes it easy to set aside funds and earn interest on your savings. With competitive rates and flexible terms, you can customize your savings plan to meet your needs.

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Club Accounts

Online & Mobile Banking

Club Accounts

Build up small savings for big purchases

Club Accounts enable targeted savings for various goals, offering features like personalized account names, automatic transfers, monthly dividends on balances over $25, and competitive rates.

  • Club accounts are a free savings option included with your primary savings account
  • Zero minimum balance or monthly fees
  • Unlimited number of club accounts for free
  • Ability to add custom personalized names to all sub-accounts
  • Automatic transfers & payroll deduction
  • Earn monthly dividends on balances $25+
  • Competitive dividend earning interest rates
  • Free account access at CO-OP Shared Branches & ATMs
  • Utah-based Contact Center for phone support
  • Federally insured by the NCUA
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Online & Mobile Banking

Banking wherever, whenever

Our mobile app provides quarterly e-statements, automatic bill pay, money desktop tools, mobile deposit, and Zelle® payments for comprehensive banking convenience.

  • Mobile App
  • E-Statements (Quarterly)
  • Automatic Bill Pay
  • Money Desktop Tools
  • Mobile Deposit
  • Zelle® Payments
Online & Mobile Banking

I like to feel organized and on top of my finances. Club accounts have made this achievable for me, much to my surprise! I have a club account for everything from saving for a vacation to birthday and holiday gifts for the year. They are free to create and earn the same monthly interest as my primary savings account... So why not use them.

American United FCU Member

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Savings Account Rates

Rates up to date as of July 4, 2024. Rates subject to change without notice.

Savings AccountsDividend RateAnnual Percentage YieldMinimum BalanceBalance to Earn Dividends
Primary Savings0.100%0.100% APY$5$50+
GoldStar® Savings10.125%0.125% APY$5$50+
Business Savings0.125%0.125% APY$5$50+
Youth Savings20.150%0.150% APY$5$50+
Club Savings0.100%0.100% APY$0$25+
Escrow Account0.100%0.100% APY$0$50+
Retirement (IRA) Savings30.499%0.500% APY$0$1+

APY = Annual Percentage Yield. Membership required, on approved credit, and rates subject to change at any time without notice. Credit union deposits are federally insured by the NCUA.
1. Additional requirements apply for GoldStar® membership.
2. Must be younger than 18 years of age to open a Youth Savings account.
3. Subject to early withdrawal penalty before the age of 59.5 (Traditional before-tax or Roth after-tax IRAs).

Helpful Resources

What Exactly Are Savings Clubs?

You might remember your mom contributing to a Christmas club savings account in the 1970s or 1980s. These club accounts were designed so families could set aside a few dollars from each paycheck for the holidays. While this type of savings club might seem retro, mobile banking brings the club account into the future with regular contributions to your savings to keep your funds growing.

Holiday presents might still be your savings goal, but the sky’s the limit. While many large banks have discontinued club accounts in favor of money market or other types of savings accounts, customers often find that credit unions still offer this service. In fact, the industry’s Credit Union National Association reports that the majority of credit union customers can open savings club accounts through their institution of choice.

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What's the Best Way to Use a Savings Club?

With some basic math, you can quickly calculate the benefit of enrolling in this type of program. Let’s say you hope to have $15,000 saved for a down payment on your first home, and you want to meet this goal within 24 months. By opening a club account with an automatic transfer of $625 a month, the money will be waiting in your online banking account when you’re ready to buy a home.

Most people treat savings clubs as short-term accounts to set funds aside for goals they want to meet within a year or two. However, from a Christmas club to a vacation vehicle, there’s no limit to the ways our customers use these convenient accounts.

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Advantages of Automated Savings

Setting aside a certain amount of money each month prevents second-guessing yourself when it comes to saving. The funds will be out of sight, out of mind, which means you will be significantly less likely to divert them to bills or other expenditures.

You’ll also be participating in the time-honored strategy of paying yourself first. Simply put, you’re setting money aside for your future before you pay any other bills. You’ll get in the habit of saving so you won’t fall into the common trap of spending more money than you make, which can quickly lead to high-interest debt.

If you often find that you have trouble spending your savings on the designated goal, establishing a specific Christmas club or vacation club account might help you break out of that mental framework. By saving for vacations, gifts, or other fun items on a regular schedule, you’re giving yourself the freedom to splurge once in a while!

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How Can I Benefit From a Savings Club Account?

When you open a savings club account with American United Federal Credit Union, you’ll never pay fees or have minimum balance requirements to meet. With direct deposit or automatic payroll deduction, you’ll be setting aside funds to meet your goals without a second thought.

We do not require a minimum contribution to our savings clubs; you can set aside as little as five dollars or as much as $5,000 a month, depending on your wealth management goals.

You’ll also take advantage of a generous 0.100% annual percentage yield. If you have a minimum balance of $25 in your club account, you qualify for dividends on your savings.

Unlike some credit unions, you won’t be subject to an early withdrawal penalty if you take funds out of your savings account before meeting your goal. Members can take advantage of unlimited deposits and withdrawals.

Many clients report that vacation clubs and similar accounts prevent them from using credit cards and paying high-interest debt. Experts also tout the behavioral benefits of automating your savings rather than remembering to transfer funds to set aside each paycheck.

You will receive an itemized statement every quarter, so you can easily keep track of your savings progress. In fact, with free online banking access, you can check on your savings balance day or night, no matter where you are.

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Start Saving With a Club Account Today

To open a savings or Christmas club account with us, start by applying for membership. American United Federal Credit Union welcomes members who work, live, go to school, or worship in Utah. You can also join as a family member of an existing credit union member. Contact us today to learn more about banking with us in Utah.

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Want to open a Certificate with special terms?

  • Open a safe and flexible Dedicated Saver Certificate
  • Teach kids the power of patience & compound interest
  • 6 to 60 month fixed terms & higher fixed rates
  • $5 minimum balance (normally $500)
  • Money can be added to balance every month (only allowed on this account)
  • Requires setting up a minimum of $5 monthly auto-deposit from savings account
Dedicated Saver Certificate

Did you know we offer Youth Savings rewards?

  • We pay $3 for A’s, $2 for B’s, $1 for C’s
  • $10 new youth account referral bonus
  • Earn monthly dividends on balances $50+
  • Financial Literacy Resource for Parents & Youth
  • Option to open checking account with VISA Rewards Debit Card
  • Option to open a Dedicated Youth Certificate with special terms
YOUTH SAVINGS