Savings Account

saving is easy when you're a member at FAFCU

Forest Area Federal Credit Union (FAFCU) offers a variety of convenient savings accounts that are easy to access while you’re on the go. Skip account to account transfers and pull funds directly from your savings accounts with your ATM/Debit card. Plus, watch your savings grow with our competitive rates.

All saving accounts require $10 minimum balance. This will establish membership and allow members the right to vote at the annual meeting.

All members are required to open this primary savings account to become a member and to take advantage of our other savings accounts. A Share Savings Account is a safe and efficient way to accumulate funds or immediately liquidate savings for emergencies, education, vacation expenses, and more.

A Sub-Share account is perfect for budgeting and planning for expenses such as family vacations, college tuition, vehicle purchases, annual insurance premiums, and much more.

Up to 15 Sub-Share Savings Accounts can be opened under the Share Account to assist with budgeting and planning for special purchases and upcoming events. These accounts are fee-free and can be “nick-named” to keep track of the purpose of the account. Dividends are compounded daily and credited to your account quarterly, with no minimum balance required.

Avoid the financial stress of the holiday by saving a little bit all year long.

A Christmas Club account encourages members to deposit funds into the account throughout the year. This account is frozen from withdrawals and all funds will automatically roll over to your Share Account on October 31. There is a small fee imposed if the account is closed before the rollover date, to encourage you to keep the money in the account for the intended purpose. The maximum deposit that can be made is $5,000.00.

Lock in our best yields and get the return you want with a Share Certificate, which offers you great rates and flexible savings terms. Share Certificates earn a higher percentage rate over a traditional savings account and offer automatic renewal options. 

Share Certificates are available in terms from 3 months to 60 months, with a minimum deposit of $500.00. Dividends are compounded daily and paid quarterly. The longer the term, the greater the savings! 

Learning to save at a young age is the key to success as an adult. That’s why we provide youth accounts to our member’s children from the day they are born until they are 20 years old! As your child grows, so will the funds through our 3 youth accounts.

  • Little Saplings: 0-9 years 

New youth members who qualify for a little saplings account will receive a free piggy bank, up to a one-time $10 match of the savings they accumulate in their piggy bank, and birthday card during their special month.

  • Super Spruces: 10-15 years
  • Tall Timbers: 16-20 year

Visit your nearest branch to open an account for your child. 

The Silver Savings Club is available to members 60 years and older. Members will receive:

  • 2 boxes of regular checks free of charge each year
  • No charge for money orders
  • No charge for our copying or faxing services

To get started, visit your nearest branch and let one of our member services representatives know you would like to sign up or give us a call at 231-879-4154.

Included with All FAFCU Savings Accounts:

Not a Member?

We proudly serve members in Grand Traverse, Kalkaska, Antrim, Crawford, Missaukee, and Wexford counties who meet our member requirements.

Discover our higher certificate rates, secure banking options, and friendly staff. Apply to be a member today! 

1. Standard messaging rates apply.

2. Debit transactions are free when card isused at a CO-OP Network ATM or processed at retail outlets as a credit card. FAFCU will charge a $2 fee to use all other non-CO-OP Network ATMs, and you may be charged a fee by the ATM owner. Applications for ATM/Debit cards are subject to approval.

3. Standard data rates apply. 

*Rates disclosed are Annual Percentage Yield (APY). Rates effective Friday, March 1, 2019. All rates are subject to change without notice. Forest Area Federal Credit Union membership required. Penalties will apply for early withdrawals. $500 minimum deposit required.