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Savings
How Our Basic
Savings Account
Works
With our Basic Savings Account, you’ll put away money faster than you thought possible. You start with a $1 minimum deposit. Then, you can make deposits through payroll distribution, direct deposit, online, by mail or face-to-face at one of our friendly store locations. You’ll earn dividends and be credited quarterly. And, as a member you may qualify for other products and services. You can even use your Basic Savings Account for overdraft protection on a Grow checking account.
How Grow Helps You Thrive
Opening a savings account with Grow means you’re in control of your money. We offer a variety of savings accounts to suit a variety of needs. Whether you need a straightforward savings account or want to watch your savings grow over several years, there’s an account that’s just right for you.
Competitive rates
High dividends
No minimum balance for our Money Market Accounts
Insured by NCUA
Open a Credit Union Savings
Account and Watch Your Money Grow
The first step in becoming a Grow Member is opening a Basic Savings Account. Once you’ve done this, we have several account options to help you manage and grow your money.
Choosing the Right Savings
Account For YouWhen it comes to saving money, everyone has unique goals. We’ve made it easy for you to choose the right account based on how you want to save.
Youth Savings
The Bugg Club is a fun and unique way to help little ones learn the value of money and the importance of saving.
Health Savings Account
An HSA from Grow allows you to save tax-deductible contributions for qualified health expenses.1
Money Market & Certificate Accounts
You get some of our best rates with our Money Market & Certificate Accounts so your money can really grow.
Individual Retirement Accounts
Your retirement is out there, and our retirement accounts can help you grab onto it.2
Get Fit Account
Our Get Fit Account offers a higher APY than our Basic Savings Account and the added bonus of an incentive when you hit a savings milestone.3
Club Accounts
Saving up for something big? Our Club Accounts are perfect for setting aside money for specific milestones and events, from Christmas to college.
The Bugg Club is a fun and unique way to help little ones learn the value of money and the importance of saving.
Learn About Youth SavingsAn HSA from Grow allows you to save tax-deductible contributions for qualified health expenses.1
Learn About Health SavingsYou get some of our best rates with our Money Market & Certificate Accounts so your money can really grow.
Learn About Money Market Accounts
Learn About Certificate AccountsYour retirement is out there, and our retirement accounts can help you grab onto it.2
Learn About Individual Retirement AccountsOur Get Fit Account offers a higher APY than our Basic Savings Account and the added bonus of an incentive when you hit a savings milestone.3
Learn About Get Fit AccountsSaving up for something big? Our Club Accounts are perfect for setting aside money for specific milestones and events, from Christmas to college.
Learn About Club AccountsWe’ll Help Your Savings Pile Up
You expect to earn a dividend on your savings, but we think these rates will be a pleasant surprise.
Savings Accounts Minimum Deposit Dividend Rate Annual Percentage Yield (APY) Basic Savings Account $1.00 0.15% 0.15%1 Club Account $5.00 0.15% 0.15%1 IRA Savings Account $0.00 0.25% 0.25%1 Roth IRA Savings Account $0.00 0.25% 0.25%1 Coverdell Education Savings Account $0.00 0.25% 0.25%1 Health Savings Account $0.00 0.10% 0.10%1 Get Fit Account $5.00 0.35% 0.35%2 Minimum Deposit $1.00 Dividend Rate 0.15% Annual Percentage Yield (APY) 0.15%1 Minimum Deposit $5.00 Dividend Rate 0.15% Annual Percentage Yield (APY) 0.15%1 Minimum Deposit $0.00 Dividend Rate 0.25% Annual Percentage Yield (APY) 0.25%1 Minimum Deposit $0.00 Dividend Rate 0.25% Annual Percentage Yield (APY) 0.25%1 Minimum Deposit $0.00 Dividend Rate 0.25% Annual Percentage Yield (APY) 0.25%1 Minimum Deposit $0.00 Dividend Rate 0.10% Annual Percentage Yield (APY) 0.10%1 Minimum Deposit $5.00 Dividend Rate 0.35% Annual Percentage Yield (APY) 0.35%2 1The APYs are accurate as of 11/06/2024 and may change without notice after the account is opened. Variable Rate. Fees could reduce earnings.
2The APYs are accurate as of 11/06/2024 and may change without notice after the account is opened. Variable Rate. Fees could reduce earnings. Minimum balance to open is $5. Maximum balance to open is $400. Minimum deposit per month is $20. Maximum deposit per month is $400, withdrawals are permitted. Bonus: When the account reaches $10,000, we will deposit $100 to that account within 90 days and your funds will be transferred to your Basic Savings Account. If more than $400 per month is deposited, the excess will be automatically transferred to your Basic Savings Account. If excess deposits have to be transferred 3 times to the Basic Savings Account, during a 12-month period, the balance of the account will be transferred to the Basic Savings Account. If you fail to deposit $20 per month for 3 months during a 12 month period, the funds in the account will be transferred to the Basic Savings Account. Fees could reduce earnings.
Explore All the Ways We Can Help You Grow
Become a Grow Member
Grow Financial is a credit union, not a bank. That means we put people before profit and do all we can to help our members thrive.
Our Club Accounts Help You Save for Life’s Big Moments
We know you have big financial goals, so odds are, you save money for more than one thing at a time. And like most people, you probably have some specific life events on your horizon.
Save As You Spend
From extra convenience to cash back with every swipe, our checking accounts pair well with a savings account and are designed for your spending habits.
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What does this mean for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
Accounts are subject to approval.
1Determining eligibility for an HSA and the amounts contributed are strictly the responsibility of the member. Consult your tax advisor.
2Certain restrictions apply. Not all taxpayers are eligible. Consult your tax advisor.
3The APYs are accurate as of 11/06/2024 and may change without notice after the account is opened. Variable Rate. Fees could reduce earnings. Minimum balance to open is $5. Maximum balance to open is $400. Minimum deposit per month is $20. Maximum deposit per month is $400, withdrawals are permitted. Bonus: When the account reaches $10,000, we will deposit $100 to that account within 90 days and your funds will be transferred to your Basic Savings Account. If more than $400 per month is deposited, the excess will be automatically transferred to your Basic Savings Account. If excess deposits have to be transferred 3 times to the Basic Savings Account, during a 12-month period, the balance of the account will be transferred to the Basic Savings Account. If you fail to deposit $20 per month for 3 months during a 12 month period, the funds in the account will be transferred to the Basic Savings Account. Fees could reduce earnings.
Fees: Please refer to our separate Fee Schedule.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
Pay Online
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
Log In
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay Now
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733You Are About To Leave GrowFinancial.org
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