Vacation Savings Account FAQ
Q: What is the minimum I can save in a Vacation Savings account?
A: By using the special savings account option at Arbor Financial, you can save as little as $5, with a lower limit of $100 to earn a monthly dividend. You may save as much as you like!
Q: Why do people use vacation savings accounts rather than regular savings accounts?
A: For many people, managing an account that is dedicated to a particular financial goal is a helpful motivator for savings. Opening a vacation savings account could be the extra boost you need to get over the savings hump and into a plane bound for your desired destination.
Q: How valuable are vacation savings accounts?
A: As a unique savings option, vacation savings accounts create an enforced discipline that helps you save for a planned getaway. Competitive rates and limited monthly transactions mean that you’ll watch your money grow faster than you thought possible.
*Annual Percentage Yields (APYs) earned on Arbor Financial Credit Union's savings programs are calculated by the daily balance method. For savings accounts, dividends are compounded and paid quarterly. Dividend rate and APY may change at any time as determined by the Board of Directors. APY shown is for the 1st quarter of 2020. **Balances of $100.00 or more earn a dividend. A minimum balance of $5.00 is required to maintain membership. ***A minimum balance of $5.00 is required to maintain membership.