Membership Savings Accounts
Savings accounts don’t get much more basic than this. But, just because it’s basic doesn’t mean it’s not important, and that’s why every Alabama ONE member has a membership savings account. That’s how serious we are about helping you save.
- $5 minimum opening deposit
- Pays dividends
- No minimum balance requirement
- No monthly fee
- Digital Banking
- e-Statements
Money Market Account
The magical thing about having savings is not only does it give you some breathing room financially, but you can also use your savings to earn more money. And a Money Market account is where that happens. You earn a higher rate than with a basic savings account, but you still — and this is key — have easy access to your funds when you need them.
- $1000 minimum opening deposit
- Earns competitive money market interest return
- Digital Banking
- Up to six free withdrawals per month
- Dividends are compounded and paid monthly
- Features a dynamic interest rate based on your other AOCU products
- e-Statements
Ascend Fund
Ascend Fund* is available for new deposits only, offers a higher interest rate than many deposit accounts, a 12-month term and $25,000 minimum initial deposit. Minimum balance of $25,000 must be maintained to earn 4.07% APY. Members with the Ascend Fund Account may withdraw up to 6 times per month. No penalty for early withdrawal. New money can be added at any time during the 12-month period.
*New deposits (New money) must be funds from another institution, not funds already at Alabama ONE. Rate subject to change. APY is accurate as of 05/01/2024. Fees may reduce earnings. Interest is compounded monthly.
- 12-month term
- $25,000 minimum initial deposit
- May withdraw up to 6 times per month
- No penalty for early withdrawal. New money can be added at any time during the 12-month period
- 4.07% Annual Percentage Yield (APY)
- Dividends are compounded and paid monthly
- Available for consumer and business accounts
- Excess Share Insurance (ESI) up to an additional $250,000 and premiums are paid by Alabama ONE
Savers Club
A Savers Club account is an easy way to save. This account is a separate savings account that allows you to save for your special expenses by making deposits by payroll deduction, in person at any teller window or by automatic transfer. The balance of your account will be transferred to your Prime Share or any designated account at the time you specify each year; just in time for a major project you have been wanting to work, remodel, or just have as a savings goal for yourself.
- $5 minimum opening deposit
- No monthly account fees
- Pays dividends
- Digital Banking
- e-Statements
Christmas Club
Yes, Christmas Club accounts are still a thing. Why? Because they work. Even if you’re just able to put $10 or $20 a month into your account, you’ll have a nice little bonus you can use at the end of the year to help make the season bright.
And we make it super easy to get money in your account each month: We can deduct a set amount from your payroll direct deposit each pay period, you can make deposits in person or you can transfer funds from your checking account with the mobile app or online banking.
- $5 minimum opening deposit
- No monthly account fees
- Pays dividends
- Funds distribute in early November
- Digital Banking
- e-Statements
The Little ONE Savings Account for Kids
Understanding money at a young age can help build good money habits and hopefully pave the way for smart money management in the future. And that’s the whole idea behind our Little ONE Savings account. It’s a great way for kids 12 and under to learn about money and saving through hands-on, engaging activities.
- $5 minimum opening deposit
- No account fees
- No minimum balance requirements
- You can see balances online
Special Savings Account
In addition to paying the monthly bills and setting aside some cash for emergencies, you probably have some personal financial goals in mind. Maybe you want to travel, have the wedding of your dreams or save for a down payment on a house. Whatever it is you want to do, having a dedicated special savings account is a great way to sock money away as you work toward your goal.
- $5 minimum opening deposits
- No minimum balance requirement
- Pays dividends
- Digital Banking
- e-Statements
What’s Your ONE?
Want to Speak to an Expert?
Experience convenience with Penny, our 24/7 online chat service providing instant and accurate assistance. For personalized support, connect with our team through Live Chat from 7:00 AM to 5:00 PM, Monday through Friday. We're here to help whenever you need us.
