Unitus launches groundbreaking savings product
PORTLAND, OR (June 29, 2018) — Unitus has launched a new savings product that upends the traditional savings model. Go Savings is a high-yield savings account designed to help people save more money at all stages of life.
Go Savings inverts the traditional savings model by offering the highest rate of returns to accounts with the lowest balances. For accounts with higher balances, the product still yields high returns relative to the marketplace.
“Banks and other financial institutions are traditionally incentivized to give more back to those who have high balances,” said Steve Stapp, President & CEO of Unitus. “While this makes sense from a bottom line business perspective, it can make it more difficult for people to build a foundation for themselves and loved ones. Saving money is the backbone we need to live our best lives. Go Savings gives high returns early to get us on track saving, and continues to reward those of us who are already established savers.”
Like all savings accounts subject to Reg D, Go Savings allows owners to withdraw from their account up to six times per month. The rates offered do not expire.
“Young professionals are finishing school today with high student loan debt and rising costs of living,” said Brian Alfano, Vice President of Member Services and Chief Retail Officer at Unitus. “Likewise, an alarming percentage of people approaching retirement need to save more in order to retire securely. Both groups need these funds to be accessible. The great thing about Go Savings is that it provides the liquid funds of a Money Market account with an unusually high rate of returns.”
A Go Savings account can be opened online at unitusccu.com, over the phone, or in person at a Unitus branch. Account ownership, as well as membership at Unitus, is available to anyone who lives or works in the state of Washington or in the fifteen Oregon counties which Unitus serves.
About Unitus Community Credit Union
At Unitus, we’re dedicated to improving lives in the communities we serve. As a member-owned local credit union, we invest in people by doing the right thing. Through partnerships with nonprofit organizations, we provide support for community groups through volunteerism and financial donations. Our 104,000 members count on us to serve them and their communities; our 300+ employees share that passion for service. Learn about the local impact Unitus makes by visiting unitusccu.com.