Depending on your needs, yes – a high-yield savings account can be a worthwhile place to put at least some of your money. While other options – such as investing in the stock market – may offer the potential of greater returns over time, those returns aren't guaranteed. People can and do lose money on stocks and other investments every day. High yield savings accounts are a good place to keep money – especially funds you may need to access on short notice – because they provide three key benefits:

• Your money is safe. Funds in a credit union high yield savings account are federally insured by the National Credit Union Administration (NCUA) to at least $250,000. It's an extremely low-risk investment.
• Your money is guaranteed to grow. Savings accounts promise a guaranteed rate of growth – in the form of interest or dividends (when the account is with a credit union, like Affinity). While it may be more modest than the return you could receive elsewhere, there's virtually no risk involved, and with compound interest your account balances are certain to grow over time. The same cannot be said of most higher-yield investments.
• Your money is accessible. Funds in a high-yield savings account are liquid – you don't have to sell anything or make a complicated transaction to get to your money. And with Affinity, you can use your ATM card to get cash from your savings account at any ATM, or transfer money any time using our advanced mobile banking app.