Find the Right Savings Plan for Your Financial Goals!
Building savings supports long-term financial stability and helps you prepare for life’s goals. A secure savings account provides a safe place to grow money over time while earning dividends. Many members save for emergency funds, major purchases, education costs, and retirement planning.
At TPFCU in Amarillo, TX, savings accounts are designed with community needs in mind. Members receive secure options and tools that support steady progress toward financial goals.
Why Open a Savings Account With TPFCU?
Opening a secure savings account offers practical benefits that support everyday financial management and future planning.
As a member, you get benefits like:
- Competitive interest and dividend rates
- NCUA-insured deposits for financial security
- No monthly service fees
- Online and mobile banking access
- Option to close anytime
- Free ATM access
- Overdraft protection options
- Easy transfers between accounts
- Financial education tools
We offer several convenient savings account options, including traditional savings and youth savings accounts. Increase your earnings with higher rates and enjoy easy bill payments and money transfers with our virtual banking solutions.
TPFCU Membership Savings Account
A membership savings account establishes your relationship with our Amarillo, Texas credit union and gives you access to a full range of financial services. To become a member of The People’s Federal Credit Union, each member must place a minimum deposit of $25 into a savings account. This primary share account makes you a member-owner and gives you access to all products and services. Account holders benefit from:- Quarterly dividends on your balance
- Dividends calculated using the average daily balance method
- Access to online and mobile banking tools
- Ability to transfer funds and manage savings digitally
- Participation in a member-focused financial community
Goal-Based Savings Options
Goal-oriented member share accounts, like our Club Savings Accounts, help members plan for specific financial goals. These accounts support holiday savings, vacations, and planned purchases.
A Club Savings Account can help you:
- Prepare for expenses you anticipate down the road
- Start saving early so you can budget for holiday gifts and parties
- Plan ahead for future education expenses, such as tuition and books
- Take advantage of competitive interest rates
Automatic transfers from checking accounts make saving consistent and manageable. This structure helps build budgeting habits while supporting steady progress toward planned expenses.
Additional Savings
TPFCU offers additional savings solutions designed to support long-term savings goals. Each option provides a different way to save money and earn dividends based on your timeline and needs.Certificates of Deposit (CDs)
TPFCU CDs are available in various terms and provide a secure way to grow your money over time. If you don’t need immediate access to your funds and want a guaranteed return, a CD could be a great option.
Individual Retirement Accounts (IRAs)
IRAs are not standard savings programs but specialized high-yield savings accounts designed to help you build up your retirement savings. TPFCU offers traditional and Roth IRAs, each with unique tax advantages. Whether you want tax-deferred growth or tax-free withdrawals in retirement, a high-yield savings account like an IRA can help you build long-term financial security in place of being paid monthly. We also offer Coverdell Education Savings Accounts (ESAs) to build your savings for future education expenses.Convenient Digital Banking Tools
Manage your savings with simple digital tools that keep your accounts within reach.Secure Online Banking
Access your savings accounts securely from any browser. Your online account allows you to check balances, review transactions, transfer funds, and schedule recurring transfers to stay consistent with your savings.
TPFCU Mobile App
Use the TPFCU mobile app to manage your accounts on the go. Check balances, move money, and set up account alerts to stay informed and on track.
Why Choose a Credit Union for Savings?
Choosing a credit union for your savings means working with a financial institution that puts members first. TPFCU is member-owned, so your credit union membership represents a share in the organization.
Profits are returned to members through better fixed rates, lower fees, and improved services. This structure supports stronger value compared to traditional banks.
Our local Texas credit union serves the Amarillo area with personalized support and local decision-making. A credit union membership provides access to guidance, savings tools, and account options designed to help you reach your financial goals with confidence.
Our Rates
Share Balance | Dividend | APY * |
$25 to $2,500 | 0.25% | 0.25% |
$2,500.01 to $5,000 | 0.25% | 0.25% |
$5,000.01 to $10,000 | 0.35% | 0.35% |
$10,000.01 to $50,000 | 0.40% | 0.40% |
$50,000.01 & Over | 0.50% | 0.50% |
*Rates effective 4/21/2023
At TPFCU, individual accounts are insured up to $500,000 through a combination of private insurance provided by Excess Share Insurance (ESI) and the federal government insurance provided by the National Credit Union Administration (NCUA). IRAs are separately insured for up to $250,000.
*All rates are quoted at the Annual Percentage Yield (APY)
The minimum average daily balance required on share savings accounts is $25.00.
The dividend period is quarterly, and the dividend will be credited to your account on the next day after the quarter.
The dividend rate and annual percentage yield may change at any time, as determined by the Credit Union Board of Directors.
If you close your account before dividends are paid, you will receive no dividend payment.
Dividends are calculated on an average daily balance on accounts open through the end of the quarter.
Dividends are subject to change and are based upon current income and available earnings.
TPFCU does not offer money market accounts at this time.
Become a Member and Start Saving Today
Take the next step toward building financial security and join the credit union by opening a savings account. You can grow your money with flexible savings options, convenient digital access, and simple banking tools. Manage your progress easily and keep your finances organized.
Apply for a savings account now and start building a stronger financial future with savings solutions designed to support your goals.
FAQs
A minimum deposit of $25 is required to open an account.
The average daily minimum balance required for savings accounts is $25.
With TPFCU, you get competitive interest rates, no monthly fees, and the peace of mind that comes with banking at a member-owned institution. Plus, you earn dividends on your savings and have access to convenient digital banking tools.
Dividends earned are calculated based on your average daily balance and are paid quarterly. Higher balances have higher dividend rates.
You can access your account through online banking, our mobile app, ATMs, or by visiting one of our Amarillo, Canyon, or Childress, Texas branch locations. Funds can also be transferred between accounts or withdrawn as needed.
No, TPFCU savings accounts have no monthly maintenance fees. You can also close your account at any time without penalty, receiving your balance plus your initial $25 investment back.
Yes. We offer NCUA-insured savings accounts, with additional protection available through private insurance. Federally insured deposits are protected against certain financial losses.
Each bank account holder, or owner, is provided with up to $250,000 of coverage, as required by the Dodd-Frank Wall Street Reform Consumer Protection Act of 2010. This applies to all share accounts in each account ownership category.
In addition, through private insurance provided by Excess Share Insurance (ESI), members are provided an extra $250,000 in insurance at no cost to them.
You can have as many joint account holders as you want. They have the authority to deposit and withdraw money from the account at any time.
There is no limit to how many times you can withdraw cash or transfer funds from your savings account.
Debit and credit cards are not included when you open an account. Our standard savings bank accounts are intended for saving money.
But we do offer Mastercards separately in rewards card and non-rewards card options. We also offer debit cards with our checking accounts, which include automatic deposit options and no monthly service fee.
Yes, you can access your account through online banking and the mobile app at any time.
Additional options include Certificates of Deposit, Individual Retirement Accounts, and education savings accounts.
