University of Hawaii Federal Credit Union first to offer high-yield savings account similar to online banks
HONOLULU, HI (June 13, 2019) — On June 1st, the University of Hawai`i Federal Credit Union (UHFCU) launched Hawaii’s first no minimum balance, high-yield savings account and has already garnered over $1 million in deposits in just a few days with its popular “Warrior Savings” account.
High-yield savings accounts, which are increasingly offered to customers through the Internet and often provide higher interest rates than traditional savings accounts available through most banks, have risen in popularity in the past few years. The new Warrior Savings account blends the best of both worlds by offering an exceptional interest rate along with local service and accessibility here in Hawaii.
The Warrior Savings account offers a 2.00% Annual Percentage Yield (APY), which is among the best interest rates in the nation. There are no minimum balance requirements or monthly fees, and the accounts are NCUA insured. Opening the account only takes a few minutes online at UHFCU.com or at any branch. Current students, faculty, staff, alumni of the UH System, as well as their household and family members, are eligible to open the account.
“Our entry into the high-yield savings arena is a logical evolution and an exciting opportunity for UHFCU as well as our local community,” said UHFCU President and CEO Travis Bow. “Our goal is to help ALL consumers become smart borrowers as well as smart savers – not only the folks who happen to have a significant amount of savings already. We’d like to ensure everyone gets a chance to earn a high-yield rate on their funds. We’re excited to offer a convenient, fast and easy way for consumers to bank smart and have an accessible means to save money for college or other important financial goals.”
About University of Hawai`i Federal Credit Union
Celebrating 68 years of service, UHFCU is a federally chartered credit union with over $835 million in assets that serves the faculty, staff, students, and alumni association members (including family and household members) of the University of Hawai`i system statewide. Recently, it has been named a finalist for “Hawaii’s Best” by the Star-Advertiser multiple times, one of “America’s Best-In-State Credit Unions” by Forbes Magazine, a “Top 200 Healthiest Credit Union” by DepositAccounts.com by LendingTree, and “Best Bank” by the students of the University of Hawai`i.
UHFCU’s main office is located at 2019 S. King Street (at the corner of McCully and King), with additional branches on the UH Mānoa Campus, Mānoa Marketplace, and Kapolei Commons. It also provides access to members at over 50 Shared Branch locations and more than 375 surcharge-free ATMs throughout Hawai`i.