How Affinity’s SmartStart Savings Program Can Help You Meet Your Financial Goals
February 24, 2025
When you’re saving for a major financial life goal, where and how you save matters. Setting money aside for the down payment on a home, your dream family vacation, or simply establishing an emergency fund are all important endeavors, so finding the right savings account that gets you closer to your goals is as important as the goal itself.
At Affinity, we celebrate all of our members’ short- and long-term financial goals, and our SmartStart Savings program is one of the ways we help support our members in meeting their financial objectives.
How SmartStart Savings is Different
No matter where you are on your savings journey, determining the best place to put your money can be overwhelming. We designed SmartStart to stand out from the countless options available at other financial institutions through its combination of competitive earnings with no restrictive rules.
The program is specifically designed to empower our members to amplify their savings efforts, and every SmartStart Savings account earns 3.50% Annual Percentage Yield (APY) on the first $10,000 in savings. Once savers exceed the $10,000 balance the Annual Percentage Yield (APY) for this tier will range from 3.50% to 0.86%, depending on the balance in the account. As with all of our products, deposits are federally insured by the NCUA up to $250,000, meaning your savings are safe and secure 1.
How to Save for a Big Financial Goal
Saving for a significant financial goal starts with setting clear and realistic intentions around your objective. Begin by defining what you’re saving for and estimating how much money you’ll need. Embarking on a new savings goal can feel overwhelming, so it’s wise to create a plan that addresses the goal in manageable portions, as opposed to the full amount. For example, if you want to save for a down payment on a new home, rather than setting a goal of $10,000 total, consider how you can save $1,500 every three months.
Once your goal is clear, create a timeline and determine how much you’ll need to set aside regularly to stay on track. Start by analyzing your budget to identify areas where you can cut back, such as dining out or subscription services, and redirect that money toward your savings. Consider setting up automatic transfers to a dedicated savings account to make the process consistent and effortless. Finally, review your progress to celebrate milestones and adjust your plan if needed.
How SmartStart Helps You Meet Your Goals
Whether you’re saving for a specific milestone or simply building financial security, the SmartStart Savings account is built to support a variety of goals:
Building an Emergency Fund - It’s impossible to know what unforeseen events may arise and derail your financial plan. In these cases, an emergency fund makes all the difference. With a high interest rate, the SmartStart Savings account allows you to grow your safety net quickly and confidently. For more information on building your emergency savings, check out this blog post 2.
Saving for a Major Purchase - It is important to have a game plan for when you start thinking about buying a car, investing in your first home, planning a dream vacation, or funding another big-ticket item. The SmartStart Savings account makes it easier to save, maximizing your savings and eliminating worry around fees eating into your progress.
Working Toward Long-Term Investments - The account also works for long-term investors, those earmarking funds for future investments, as well. Whether it’s contributing to a retirement account or building wealth for the future, SmartStart helps amplify your savings potential.
The SmartStart Savings program encourages those who are new to a savings journey to invest more toward their goals through its unique inverted interest structure, no minimum balance requirements, no limitations on transfers or withdrawals. Members have easy access to their funds whenever needed, providing them with complete control over their savings.
We are proud to offer such a competitive and comprehensive product for our members. We’ve earned several awards for this offering, including the Best Credit Union Savings Account for Deposits Under $10,000 by CNBC Select (2023) and the Best Credit Union High-Yield Savings Account for 2024 by Buy Side from the Wall Street Journal 3.
Ready to take the next step? Start building your financial future with the SmartStart Savings account. Visit one of our branches 4 and connect with a member of our team to learn how SmartStart can help you meet your goals.
This information is for informational purposes only, is intended to provide general guidance, and does not constitute legal, tax, or financial advice. Each person's circumstances differ and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and legal counsel to discuss your particular needs before making any financial or other commitments regarding the matters related to your condition.
1 Retrieved from https://www.affinityfcu.com/personal-banking/banking/savings/smartstart-savings
2 Retrieved from https://www.affinityfcu.com/financial-wellbeing/blog/financial-wellbeing/essential-strategies-for-building-your-emergency-fund
3 Retrieved from https://www.affinityfcu.com/personal-banking/banking/savings/smartstart-savings
4 Retrieved from https://www.affinityfcu.com/about-us/locations/