Savings

Savings Account

No matter what tomorrow brings you can save securely with Direct Federal. Our Savings Account offers you safety and convenience with our federally insured, no fee savings accounts. In addition, you’ll get quick and easy access to your money through our free web banking service, at SUM ATMs, by calling our Call Center or by visiting our Needham branch. Open an account today and start saving for tomorrow now.

Effective February 1, 2012 

Please see the tables below for the new minimum balance requirements.

TierBalanceAnnual Percentage Yield* (APY)
Tier 1 $75,000 and more 0.40%
Tier 2 $25,000 - $74,999 0.30%
Tier 3 $5 to $24,999 0.15%

* The rates may change monthly at the discretion of the credit union.  There are no limitations on the amount by which any rate may change.  Interest will be computed on your accounts based on the balance at the end of each day and the rate in effect that day.  Interest is credited (posted) and compounded (added to the principal balance on which interest is paid) monthly.  Any fees imposed on your account may reduce your earnings. 

Federal law imposes limitations on the number of certain types of withdrawals from Savings Accounts.  In each monthly statement period, you may make no more than 6 transfers and withdrawals by means of preauthorized, automatic, telephone, or computer instructions.  There are no limits on the number of transfers or withdrawals that you make in person, at a branch, or at an automated teller machine.

If you have any questions, please contact a Service Associate at 781.455.6500.

 

 

 

 
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Member Service Associates are available to answer your questions Monday-Friday 8:00 a.m. - 5:00 p.m. and Saturday 8:00 a.m. - 1:00 p.m. at 781.455.6500.