MSU Federal Credit Union (MSUFCU) has introduced its Savings Builder℠ account to help members save for life’s unanticipated events faster. Savings Builder pays more on initial deposits, unlike many traditional savings accounts that earn higher dividends only when more money is saved.
According to bankrate.com, 28% of adults don’t have any funds set aside for unexpected expenses. While starting an emergency savings fund can be difficult, the Savings Builder is designed to help members build their emergency accounts faster so funds are available for unplanned expenses.
“We are pleased to offer this new product to help members start saving and earning more on initial funds saved, especially at this time when having an emergency fund in place could be particularly beneficial to so many,” said Deidre Davis, MSUFCU Chief Marketing Officer. “Savings Builder is a great option to quickly save for unbudgeted expenses — such as car repairs or medical costs — helping prevent new or additional debt.”