Savings
Savings Plus!**:
A savings account is a great way to save money at a competitive interest rate, build your "rainy day" fund, or accumulate savings to purchase a higher-paying Money Market Plus account or Certificate of Deposit (CD).** Features of the SharePlus Federal Bank savings account include:
- Quarterly interest payments
- Competitive interest rate fixed for the duration of the term
- The option to make deposits through payroll deduction or direct deposit
* If you maintain a $500.00 balance, there will be no fee to this account; however, if your balance falls below this amount, you will incur a $6.00 fee per month. Fee will be assessed to the savings account.
See "Other Limitations" at bottom of this page.
Club Accounts:Start saving now for next year's holiday season or the vacation of a lifetime. With a Christmas Club or Vacation Club account, you can have funds automatically transferred to your club account(s) each month. You determine the amount to be deposited and when. It's easy and worry free! And you won't be short-changed when next year's holiday season or vacation rolls around.
- Deposits earn quarterly interest
- Competitive rates
- Deposits can be made through payroll deduction and direct deposit
- Automatic disbursements are made in November (Christmas Club) and May (Vacation Club)
To open your SPFB Christmas Club or Vacation Club Account visit your branch or call the Customer Service Center at 1-800-35BUCKS.
See "Other Limitations" at bottom of this page.
The Encore!CD*** offers 8-, 12-, 14-, and 18-month terms, higher interest rates, and the option to bump-up the rate one time during the term.
- Regular Encore!CD - $5,000 minimum deposit, with 8-, 12-, 14-, and 18-month terms.
- Mini-Jumbo Encore!CD - $50,000 minimum deposit, with an 18-month term
- Jumbo Encore!CD - $95,000 minimum deposit,with an 18-month term
- High opening interest rate and yield
- Higher return tomorrow if rates increase
- No limit on the amount your CD rate can increase
- High opening interest rate and yield
See "Other Limitations" at bottom of this page.
Regular CD's**:
A Certificate of Deposit offers a safe home and a high yield for your money. For the saver with $1,000 or more to invest, CD's offer market-competitive interest rates, which can result in increased earnings.
- Available in terms of varying lengths, from 3 months to 60 months
- Interest is paid quarterly and at maturity
- You can direct your interest to be:
- added to your certificate account principal, or
- automatically transferred to your checking and savings account, or
- mailed to your home
- added to your certificate account principal, or
See "Other Limitations" at bottom of this page.
Jumbo and Mini-Jumbo Certificate Accounts**:
For the saver with $50,000 (Mini Jumbo) or $95,000 (Jumbo) to invest. Higher interest rates than regular CD accounts and interest is paid monthly.
See "Other Limitations" at bottom of this page.
Individual Retirement Account (IRA) CD**:
Click here for detailed information and Q&A to help you select the IRA that's best for you. All regular CD's are offered as an IRA.
See "Other Limitations" at bottom of this page.
Emergency Fund
Prepare for the unexpected by setting aside three to six months' living expenses. That way you'll avoid taking on new debt or raiding your investments if your car breaks down or you find yourself out of a job. Use this Emergency Fund Calculator to see how much you need to set aside.Keep your emergency fund money where it's readily accessible, such as in a Savings or Money Market Plus, and resist the temptation to dip into it for anything but true emergencies, such as illness or unemployment.
Emergency Fund Calculator
Click here to access an Emergency Fund calculator see how much you need to set aside.
Deposit Rates
Click here for current Deposit Rates.
Savings Calculator
Click here to use a handy savings calculator.
You may have a DEPOSIT relationship (such as Checking, Savings, CD, Money Market Plus, IRA, etc.) with SharePlus Federal Bank...
- if you live, work, or have your place of business in a county or bordering county where a bank branch is located
- if you are an employee of a Sponsor Company
- if you have a Secured Loan with SharePlus Federal Bank
- if you own or work for a YUM! Brands franchise
Youth Account
A SharePlus Youth Account will help young bank customers (up to age 18) to develop important money management skills. FREE of monthly service charge until age 18. Open with only $25 minimum opening deposit.
Visit your local branch, or call 1-800-35BUCKS for additional Youth Account
features and promotions.
Deposit Rates
Click here for current Deposit Rates.
Savings Calculator
Click here to use a handy savings calculator.
Other limitations on SharePlus Accounts:
** Savings and Money Market Accounts are Federally Regulated, Limited Transaction Accounts: Transfers and withdrawals by preauthorized, automatic telephone, wire, or computer transfer are limited to six per statement cycle with no more than three by check, draft, or debit card. A REG D Excess Transaction Fee of $30 will be charged for each pre-authorized withdrawal in excess of six per statement cycle. A REG D Excess Transaction Fee of $30 will be charged for each check, draft, or debit card withdrawal in excess of three per statement cycle. Unlimited withdrawals in person from your branch. Customers will be allowed three months of REG D Excess Transactions within a twelve month period. Further violation will result in the closing of the account.
** CD Accounts - SharePlus Federal Bank may impose a penalty if you withdraw any of the principal before the maturity date or the renewal date.
*** Annual Percentage Yield. Encore!CDs (formerly the "Option Rate CD"): Minimum deposit $5,000 (Regular Encore!CD), $50,000 (Mini-Jumbo Encore!CD) or $95,000 (Jumbo Encore!CD). 8-, 12-, 14-, and 18-month terms. The bump up option is one-time during the term of the Certificate of Deposit. Rate increase request will match our prevailing 8-, 12-, 14-, and 18-month Encore!CD rate available at that time. The new rate applies to the remaining term of your Encore!CD. A penalty will be imposed for early withdrawal. More CD terms and yields available upon request.
Insurance - All accounts are insured to $100,000 by the Federal Deposit Insurance Corporation, an agency of the United States Government. To learn more about this insurance click on the FDIC logo below.
