Savings accounts - UT Federal Credit Union
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Savings Accounts

UTFCU offers a variety of convenient savings account options that help you reach your goals—from tiered money market accounts to our Holiday Club account.

Learn more about your options by reading the summaries below.

Primary and Choice

A Primary savings account establishes your membership at the credit union. Choice savings accounts are designed to let you create special accounts for goals unique to you.*

*Maintenance or activity fees could reduce earnings on the account.

Money Market Accounts

UTFCU Money Market accounts are tiered to allow you to decide where, when, and how to invest your money. Earn higher yields with the added flexibility to access your money when you need it.*

*Maintenance or activity fees could reduce earnings on the account.

Share Certificates

Your financial portfolio is a mix of short, mid, and long term solutions. That’s why we offer Share Certificate products with terms from three months to four years. When the market requires a quick adjustment to rates, UTFCU offers special promotional Certificates.*

Account Benefits:

  • Competitive dividend rates
  • No service fees1
  • Dividends can be kept in Certificate or transferred to another UTFCU account2
  • Automatic renewal or transfer at maturity2

1 – Early withdrawal penalties may apply. Contact a UTFCU representative for more information or refer to your account disclosure for term and early withdrawal penalties information.

2 – Certain restrictions may apply based upon Certificate terms. Dividends are calculated based upon Certificate terms. Contact a UTFCU representative for more information or refer to your account disclosure for term and maturity information.

*All certificates (with the exception of Educational IRA’s) require a $1,000 minimum. There may be a loss of accrued dividends if there is an early withdrawal of funds.

Individual Retirement Accounts

As a financially sound financial institution, UTFCU chooses investment products to help you manage and secure your retirement plans. Our Individual Retirement Account (IRA) products are designed to maximize your investment needs at competitive rates.

The Traditional IRA:

    • Tax-deferred savings1
    • Account can be invested as Cumulative IRA or Share Certificate
    • No monthly fee

The Roth IRA:

  • Tax-deferred savings1
  • Account can be invested as Cumulative Roth IRA or Share Certificate
  • No monthly fee
  • Qualified withdrawals are tax-free

1 – Consult your Tax Advisor on tax-deferred savings and eligibility.


Health Savings Accounts

Health Savings Accounts (HSA) offer tax-free savings for future qualified medical and retiree health expenses. Use pre-tax dollars to pay for future medical expenses. You will be able to deduct your contributions to your HSA, and the account earnings will accumulate on a tax-deferred basis. Best of all, distributions from your HSA are tax-free if they are used for qualified medical expenses. To be eligible for an HSA, you must select a high-deductible health insurance plan from your employer. The balance in your HSA carries over at the end of the year.

Holiday Club Accounts

The Holiday Club account makes saving for the holidays easy. Make weekly or monthly deposits and watch your money grow just in time for those Thanksgiving Day sales. At the end of each October, we’ll deposit the entire account balance into your UTFCU checking account.

Youth Accounts

At UT Federal Credit Union, we care about the financial well being of all our members – including the little ones! Starting good saving habits at a young age increases a person’s chances of being financially successful in the future.

Junior Owner Savings Program

Out of this world benefits:

  • Safer than a piggy bank – NCUA insured
  • Access to financial education resources – learn money management at an early age!
  • Free paper statements.
  • 1.00% APY* until they turn 18.

Accounts for all youth ages. Each age group receives its own set of perks. The sooner you open an account, the more perks your child can take advantage of!

Kickstart Kids: Ages 0-3 years.
Give their savings a kickstart! All youth accounts receive a 1.00% APY*, so why not take advantage of that as long as you can? Start a solid foundation for your child to build on as they grow. You can even pick up a cute little onesie or tiny t-shirt when you open your account.

Super Savers: Ages 4-12 years.
Stuffing your piggy bank is pretty cool, but stuffing your savings account gets you rewards! Super Savers receive Junior Owner Dollars for depositing money into their account. These Junior Owner Dollars can then be used to buy cool prizes from the Super Saver Store! Plus, all that money you’re depositing into your account earns a 1.00% APY* until you turn 18.

Junior Owners: Ages 13-17 years.
You’re approaching financial independence – which is both exciting and terrifying, we know. You can make this a little less scary by saving for your future! As you’re taking on more chores, cutting more lawns or accepting your first part-time job, stuff your savings with each paycheck you get. You worked hard for that money, now make it work hard for you with a 1.00% APY*. You’ll even get a cool t-shirt when you open your account.

*Annual Percentage Yield