Just in time for Military Saves Week, Navy Federal Credit Union (NFCU) is offering a special rate of 2.0% on their Custom Club Account. What is a Custom Club Account? It is a variation on the old Christmas Club style account, but instead of being tied into a January to December timeline, you can customize the details to fit your savings goals. The terms include:
- Maximum term of 12 months
- Minimum deposit of $5
- Maximum total deposit of $5,000
- New deposits can be added at any time
- One special Custom Club account per member
- There does not appear to be a required automatic transfer
This is a great way to save for a longer term goal, such as a new car, money for an upcoming PCS move, or even a down payment. Even though there is a maximum of $5,000 in the account, you can open one for each family member to maximize your earnings. You can also use this account as a great way to teach your kids about compounding interest!
Don't forget that Pacific Marine Credit Union (PMCU) is also offering a great 4.0% Military Saves promotional certificate, and Navy Federal has a special 3.0% Easy Start certificate as well.