Prepare For The Unexpected: Why We Created the Emergency Savings CD
Prepare For The Unexpected: Why We Created the Emergency Savings CD
In our annual member survey in 2025, it was made clear by our members that building an emergency savings was a primary goal during the next year. With the rising cost of living, building an emergency savings has become more difficult, while also becoming more important to do so at the same time.
In response to our annual member survey results, the credit union decided to create a special Emergency Savings CD to assist our members. The Emergency Savings CD is a 12-month auto renewing term, with a competitive dividend rate.
What makes this CD special is that the CD only has a $25 minimum starting deposit, members can deposit into the CD at any time, and should an emergency arise members can withdrawal from the CD one time per calendar year penalty free. Therefore, the Emergency Savings CD allows members to start saving in small increments, earn a good dividend rate with their money secure, and gives members access to their money to utilize for an emergency if needed.
In the case of an emergency, just having a couple of hundred extra dollars extra set aside to help with an unexpected expense can make a world of difference. The credit unions creation of the Emergency Savings CD reflects our continued commitment to listening to our memberships needs, and working towards assisting with a better financial future for them.
Post Author:
Nick Mosley
AVP Member Experience & Engagement
NMosley@gcefcu.org
The opinions expressed on this page are for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author of the article and may not reflect the views of the credit union.