Official Credit Union of UMass Athletics

Official Credit Union of UMass Athletics

Savings

Savings

Most financial experts recommend that you keep three to six months of your living expenses in a government-insured savings account. UMassFive offers several convenient options to save for any purpose.

Basic Share Savings Accounts

As a member of the Credit Union, you are automatically enrolled in a savings account. Your Primary Share Account’s first $5 signifies your ownership in the Credit Union and qualifies you for Credit Union benefits.

Money Fund Share Accounts

This is a tiered savings account that earns a high dividend rate for maintaining a higher savings balance. It is geared toward medium- to long-range savings.

Restricted Savings Accounts

It is easy to save for important expenses with Escrow Accounts & All-Purpose Accounts, and Holiday Club Savings Accounts.

Term Share Certificates

UMassFive Term Share Certificates are a safe, effective way to save for any occasion. Use them for regular or IRA savings.

Traditional IRA Savings / Roth IRA Savings / Coverdell Education Accounts

Whether you’re saving for retirement or education, explore these savings accounts which have tax benefits. You can use payroll deduction for a systematic savings plan.

For questions or assistance, contact a friendly UMassFive representative today!