Savings Accounts at South Metro

South Metro Federal Credit Union is member-owned. An initial $5 deposit into a Share Savings Account is required to become a credit union owner/member. But our Savings Accounts can do so much more!

South Metro offers competitive savings rates that grow with your savings. Your deposits are insured, so your money grows safely. And South Metro staff and online resources are here to help you save smarter.

Savings Accounts from South Metro Federal Credit Union

Ways to Save

An initial $5 deposit into a Share Savings Account is required to become a credit union owner/member. But you can set up multiple basic Savings Accounts to set aside money as part of a practical savings strategy. South Metro can also help by automatically transferring funds from your savings to your checking to keep your checks from being returned. It is another no-fee service from your Credit Union. Keep your funds in your savings account and earn more dividends, and rest assured your checks will be honored.

For more information, call us at 952-445-0888. To review our Funds Availability Policy Disclosure, click here.

Second Savings
You can open a second savings account and transfer money into this fund manually or automatically. It’s a simple and fun way to set aside money for a vacation or any other short-term savings goal.

Stop by any office or call Member Services at 952-445-0888 to open your South Metro savings account.

South Metro’s Certificates of Deposit offer higher earning potential than a savings account. This low-risk investment option offers a range of features and terms. Use these accounts to get started or capitalize on saving, but remember, you may reduce your earnings and receive a penalty if you withdraw money early.

Unlike stocks and other investment options, a CD is guaranteed and insured. You can grow your funds without risk! Stop by any office or call Member Services at 952-445-0888 to buy a South Metro CD.

Social Security and pension plans are often not enough to maintain your standard of living at retirement. An Individual Retirement Account (IRA) from South Metro Federal Credit Union is an excellent way to invest for your retirement years.

Stop by any office or call Member Services at 952-445-0888 to open a South Metro IRA.

SouthMet Testimonials

Best banking experience of my life. - Robert

Young Savers

Teach your children to become smart savers at an early age. It starts with two simple actions.

  1. Open a Smart Saver account for your child.
  2. Buy two small piggy banks (or use regular glass jars).

When your child fills both piggy banks, bring them back to South Metro. We’ll deposit the first bank’s contents into your child’s Smart Saver account. Your child decides the future of the second piggy bank.

We’ll count the contents of the second bank, but this is a savings amount that your child can actually see and touch. Your child may decide to deposit this money too, or opt to use a portion to purchase some desired toy. The point is that a child sets — and meets — a goal to fill those two banks, and they see tangible financial rewards as a result. It’s a valuable lesson in saving.

Parents, you can monitor your child’s account from Online Banking. You can even set up a monthly allowance to be transferred in automatically.

Upgrade to Checking
South Metro FCU offers a basic checking account that’s just right for students. It includes free online banking and bill pay. You also will have unlimited debit card transactions and unlimited use of ATM machines on the CO-OP Network.

Both parents and teens can use Online Banking and Mobile SMFCU to transfer monthly allowances, track the balance in the account, and monitor their new spending habits. You can also ask if you are eligible for overdraft protection – a valuable tool. And with Shared Service Centers throughout the United States, odds are we have a branch near your college of choice.

When your teen is ready, you can co-sign on a VISA credit card from SMFCU and help them establish a credit rating.

Stop by any office or call Member Services at 952-445-0888 to get more information on SMFCU Checking accounts and VISA credit cards.

South Metro also offers prepaid Visa gift cards*. You can use it like a credit card, but within strict spending limits. If your card is lost or stolen, you can get a replacement card at minimal cost.

Why Give Your Child a South Metro Gift Card?

  • It’s versatile. South Metro gift cards can be used anywhere you see the VISA logo.
  • It prevents identity theft. A gift card is safer to use when shopping online than a credit card or debit card.
  • It’s a great budgeting tool. Some parents give their kids an allowance in the form of monthly gift cards. You can’t “bounce” a gift card, so it’s much harder for kids to overspend.

Best of all, gift cards are safer than cash. If your card is lost or stolen, we’ll issue a replacement card at minimal cost.

To order a gift card, visit your nearest South Metro branch and talk to one of our representatives today. It’s quick and easy!

*$3.00 Gift Card Activation Fee applies.

The millenial generation is statistically less inclined to walk into a bank and MORE open to using online services. No matter how you prefer to manage your money, South Metro is here for you.

Online Tools
South Metro has several tech-savvy tools to help you manage your money. Online account access, mobile deposits, eStatements, and apps to find surcharge-free ATMs are all available at your fingertips.

Lending Choices
No matter the loan you’re looking for, South Metro has better rates, fewer fees, and personal service. As a not-for-profit financial institution that’s community-owned, you’ll be working with friends and neighbors and not a Big Bank.

Financial Education
Don’t hesitate to schedule a time to sit down with a Financial Expert or Investment Advisor from South Metro. It’s a free service and we’re happy to help. Also check out our list of free online budgeting tools to help you manage your money.

Some people define adulthood as starting at graduation. Others say you’re an adult when you marry, buy a house, start a career, or have a child. No matter how you define adulthood, you need a good financial partner to help you through this phase of your life. South Metro can help you get there. Start here!

Online Tools
South Metro has several tech-savvy tools to help you manage your money. Online account access, mobile deposits, eStatements, and apps to find surcharge-free ATMs are all available at your fingertips.

Lending Choices
No matter the loan you’re looking for, South Metro has better rates, fewer fees, and personal service. As a not-for-profit financial institution that’s community-owned, you’ll be working with friends and neighbors and not a Big Bank.

Financial Education
Don’t hesitate to schedule a time to sit down with a Financial Expert or Investment Advisor from South Metro. It’s a free service and we’re happy to help. Also check out our list of free online budgeting tools to help you manage your money.

SouthMet Testimonials

I am very happy to become a new member of South Metro Credit Union and I will tell others about how wonderful all of you are there. - Yvonne

 

Consumer Savings Rates

Effective May 1, 2017

Dividend rates are subject to change by the Board of Directors. APY is Annual Percentage Yield.

 

 

Dividend Rate

Share Savings Accounts and Smart Sammie’s Savers Club

 

under $100

0%

0% APY

 

$100 to $2,999

0.05%

0.05% APY

 

$3,000 to $9,999

0.10%

0.10% APY

 

$10,000 to $24,999

0.15%

0.15% APY

 

$25,000 and Over

0.20%

0.20% APY

Checking Accounts

 

under $100

0%

0% APY

 

$100 to $2,999

0.05%

0.05% APY

 

$3,000 to $9,999

0.10%

0.10% APY

 

$10,000 to $24,999

0.15%

0.15% APY

 

$25,000 and Over

0.20%

0.20% APY

Certificates*

 

6 Months, $1,000 Minimum

0.45%

0.45% APY

 

12 Months, $1,000 Minimum

0.75%

0.75% APY

 

24 Months, $1,000 Minimum

0.90%

0.90% APY

 

36 Months, $1,000 Minimum

1.15%

1.15% APY

 

48 Months, $1,000 Minimum

1.50%

1.50% APY

 

60 Months, $1,000 Minimum

1.85%

1.85% APY

Individual Retirement Accounts* (IRAs)

 

12 Months

0.75%

0.75% APY

 

24 Months

0.80%

0.80% APY

Health Savings Accounts (HSAs)

Use your pre-tax dollars to pay for future medical expenses. Account balances roll over each year. Call for details!

*APY is Annual Percentage Yield. Fees or other conditions may reduce earnings. Early withdrawal penalties may apply.

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