Savings

Many times saving feels as though we are denying ourselves something today, when in fact we are giving ourselves the opportunity for something better in the future. Saving is really “buying” us options. It may be an emergency savings account that fixes our car instead of forcing us to borrow money, it can make the monthly payment on our dream home affordable because we saved for a down payment, or it could simply allow us to provide a brighter holiday season for those we love.

Whatever your savings goal, it all starts with paying yourself first. Set a realistic goal, then treat that deposit into your savings account as importantly as you would a rent or mortgage payment. Deposits can be done automatically when your paycheck has been direct deposited, and you can easily control the when/how much right from your online banking page. What is most important to you? Tell one of our Relationship Managers about your savings goals and we can setup retirement, emergency, vacation or holiday accounts immediately. You control how fast you reach your goals, but you'll be surprised how quickly even a small portion of each paycheck will grow. We’d be happy to show you how.

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Regular Savings -- this account is sometimes called a “share”.  This term refers to the basic plan of credit unions where members are part owners, or have a “share” in the credit union. A share savings account is what qualifies a member and gives that member the right to vote on credit union issues. It takes a minimum deposit of $5.00 to open a share savings account. Eligible members will receive an ATM card to access their account from either of our two ATM Networks. (More Adult account options)

Regal Club -- an exclusive savings account to reward our members age 50 and over who also maintain a minimum $1,000.00 balance in an ACMG account or have direct deposit. Some benefits include up to 2 free boxes of checks per year, additional ATM withdrawals and free financial planning services. It takes a minimum deposit of $5.00 to open a Regal savings account. (More Regal options)

Young Adults -- dedicated to education about the basics of saving and money management. Includes access to an exclusive online resource called On Your Way which rewards visitors by entering them in prize drawings. It takes a minimum deposit of $5.00 to open a young adult account.  (More Youth options)

Kids (12 & under) --  our youngest members can learn the value of saving when you start them out with a Kirby Kangaroo Club savings account. It takes a minimum deposit of $5.00 to open a kids savings account.  (More Kids Club options)

Appreciation  -- a unique account that rewards dedicated savers at the credit union who plan for the future.  Appreciation Account holders earn higher dividend rates than regular share accounts, enjoy liquidity of funds - deposit, withdraw & transfer funds without penalty*, and earn higher dividends on Share Certificates held with ACMG FCU**. To meet requirements, members must have a Share Draft/Checking Account, Direct Deposit to your ACMG account (same member number), and maintain a $2,500 minimum balance.

Special  -- are you saving for a vacation... a home improvement project...  a wedding... or simply need an emergency savings account?  No matter what your goal, a Special Savings Account at ACMG can help. Think of it as an extra savings account that you can use as you see fit - no strings attached! It takes a minimum deposit of $5.00 to open a special savings account.

Holiday  -- prepare to make the holidays merrier when you save throughout the year. Members deposit funds into their Holiday Club Accounts & earn interest throughout the year. On October 1, accumated funds are transferred into your regular savings account so you can begin your holiday shopping. Members are “discouraged” from withdrawing funds during the year with a per instance withdrawal fee (see current fee schedule). It takes a minimum deposit of $5.00 to open a holiday savings account.

Escrow -- do you dread the arrival of your tax and homeowner’s insurance bills?  Let us help you manage these expenses with an Escrow Account.  Contributions to this account can be made on a recurring basis using direct deposit or whichever method works best for you. Members can access the funds in their Escrow Account at anytime and without penalty***, if used to pay homeowner insurance or school and property taxes. Funds used to pay these items must be withdrawn from the Escrow Account in the form of an Official Check and be made payable to the correct payee (i.e. Tax Agency or Insurance Company). It takes a minimum deposit of $5.00 to open an escrow savings account.

* Accounts that fall below the $2,500.00 minimum balance requirement will incur a monthly fee (see current fee schedule).  If the minimum balance is not maintained for three consecutive months, the account will be closed with remaining funds being moved to regular shares to avoid continuing fees.
** Members who have an Appreciation Account will earn a dividend rate on 24 and/or 36 month Share Certificates that is 1/4 percent higher than the current rate.
***Escrow Accounts incur a per instance withdrawal fee if not for tax or home owner insurance payment purposes.  See current fee schedule for details.



This credit union is federally insured by the National Credit Union Administration.
Questions on coverage? Try the Share Insurance Estimator.
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Main Branch: ACMG Federal Credit Union
1753 Milton Ave. Solvay NY 13209
(315) 488-4433 or (800) 634-9239
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