CARSON CITY, Nev.–Greater Nevada Credit Union has launched a high yielding “I Can Save” savings account for members who have had trouble building consistent savings habits.
“Do you worry about not having enough money saved to pay for an emergency? You’re not alone,” the credit union says on its website. “In fact, 25% of Americans have nothing saved for an emergency or unexpected expense, and 58% of adults have less than $1,000 in total available savings. An emergency expense to many people could mean years of financial hardship as they look to recover.”
Greater Nevada Credit Union, saying it has a “passion to help more people live greater,” said the “I Can Save” account can help qualifying members start a basic savings plan and learn how to routinely contribute to their financial wellbeing.
The Pricing
The account has no minimum deposit requirement. Deposits can be made each month, but monthly deposits can be made as long as they don’t exceed $200. The accounts pays 5.00% APY until the balance reaches $1,000, after which the account reverts to GNCU’s standard share savings account rate.
Members can withdraw funds from their I Can Save account for any reason, but there is a two-year waiting period to open another one.