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Start the New Year Strong: Why a Savings Plan Matters

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By: Ryan Marosy
Vice President of Marketing

A new year brings fresh opportunities — and one of the most important steps you can take toward financial confidence is creating a savings plan. Whether you’re preparing for unexpected expenses or working toward a major milestone like buying a home or a new car, having a structured approach to saving can make all the difference.

Saving without a plan often leads to inconsistency and frustration. A thoughtful savings strategy, on the other hand, helps you stay focused, motivated, and in control of your financial future.

Why Having a Savings Plan Is So Important

Life is unpredictable. From emergency car repairs to medical expenses, a savings cushion helps protect you from relying on credit or derailing your long-term goals. Beyond emergencies, a savings plan also empowers you to plan confidently for what’s next — whether that’s a down payment, a vacation, or upgrading your vehicle.

A defined savings plan transforms vague intentions like “I should save more” into clear, achievable action.

Save With Purpose: Rainy Day Funds and Financial Goals

Not all savings serve the same purpose — and that’s okay. Many people find success by saving for both short-term needs and long-term goals at the same time.

  • Emergency (Rainy Day) Savings: Designed to cover unexpected expenses and provide peace of mind.
  • Goal-Based Savings: Dedicated funds for specific milestones, such as a home purchase, a new car, or a major life event.

Separating your savings by purpose helps keep you motivated and prevents you from dipping into funds meant for something else.

Consistency Is Key: Save Monthly or Every Pay Period

One of the most effective ways to build savings is by committing to a specific amount on a regular schedule — whether monthly or each pay period. Even modest, consistent contributions add up over time.

Automating your savings can make this even easier. When money is set aside automatically, saving becomes a habit rather than a decision you have to make over and over again.

Make Your Savings Work Harder for You

A smart savings plan isn’t just about setting money aside — it’s also about choosing the right tools to help your savings grow.

A great way to supplement your savings plan is with the Affinity Performance Savings Account, which offers 3.25% APY on balances up to $250,0001, with no minimum balance required. This allows your money to grow faster while remaining easily accessible.

To boost your savings even more, you can pair it with an Affinity Cash Back Plus account, which offers up to 10% cash back on debit card purchases2. The cash back you earn can be deposited directly into your savings — helping you grow your balance effortlessly while you spend.

Start the Year With a Plan You Can Stick To

The new year is the perfect time to commit to a savings plan that supports your goals and your peace of mind. By saving consistently, setting clear objectives, and using high-yield tools like the Affinity Performance Savings Account, you can turn small steps today into meaningful financial progress all year long.

Your future self will thank you.

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1. APY = Annual Percentage Yield. APY is effective as of 3/21/2025. The APY is accurate as of the latest dividend declaration date. Dividend rates and APY are set by the credit union and may change at any time after the account is opened at our sole discretion, without prior notice. There is no limit on how much the dividend rate or APY may increase or decrease after account opening. A $5 minimum deposit is required to open this account; there is no minimum balance requirement to maintain, and there are no monthly maintenance fees when enrolled in electronic statements. Fees may reduce earnings. Affinity membership is required by making a $5 deposit to a membership eligibility account. Limit one Performance Savings account per membership.

Qualifications: Performance Savings is only available to members with a Cash Back Plus or High-Yield Checking account. To earn the maximum stated rate, you must complete the following activities on your Cash Back Plus or High-Yield Checking account during each Monthly Qualification Cycle (MQC): complete at least 12 PIN or signature debit card purchases (including online transactions), receive at least one Direct Deposit or ACH deposit of $250 or more, and be enrolled in electronic statements. All transactions and activities must process and post to your checking account during the MQC to qualify. An ACH deposit is an electronic transfer of funds from another financial institution or company directly into your account. Examples include, but are not limited to, Social Security or other government benefits, person-to-person payments, and transfers between your external accounts into your Affinity checking account. ATM transactions, purchases of money orders or cash equivalents, loan payments, and transfers between accounts do not count toward the monthly requirements. Transactions bundled by merchants and received as a single posting count as one purchase. View the Monthly Qualification Cycle guide for exact dates at affinityfcu.com/privacy-disclosures or call our Member Service Center at 800.325.0808.

Earnings: Upon meeting the Monthly Qualification Cycle requirements, the dividend rate paid on your daily balance will be determined as follows: if your daily balance is $250,000 or less, the dividend rate paid on the entire balance will be 3.20%, with an APY of 3.25%. A dividend rate and APY of 0.50% will be paid only on the portion of your daily balance that is greater than $250,000. The APY for this tier will range from 3.25% to 1.88%, depending on the balance in the account. If the qualifications are not met, a dividend rate and APY of 0.05% will apply to all balances. If you close your account before dividends post, you forfeit any unpaid dividends. Dividends earned may be reported on an IRS 1099 Form, if applicable.

eStatements: To satisfy this account’s eStatement requirement and avoid the $2 monthly paper statement fee, enroll in eStatements and agree to the Electronic Delivery Disclosure within your first 45 days of membership. Thereafter, any account not enrolled will incur the $2 monthly fee. You may withdraw consent at any time via Online Banking or the Mobile App, which will reinstate the paper statement fee.

2. A $5 minimum deposit is required to open this account; there is no minimum balance requirement to maintain, and there are no monthly maintenance fees when enrolled in electronic statements. Fees may reduce earnings. Affinity membership is required by making a $5 deposit to a membership eligibility account. Limit one Cash Back Plus Checking account per membership; not available to members with a High-Yield Checking account.

Qualifications: To earn Cash Back Plus Checking rewards, you must complete the following activities during each Monthly Qualification Cycle (MQC): complete at least 12 PIN or signature debit card purchases (including online transactions), receive at least one Direct Deposit or ACH deposit of $250 or more, and be enrolled in electronic statements. All transactions and activities must process and post to your Cash Back Plus Checking account during the MQC to qualify. An ACH deposit is an electronic transfer of funds from another financial institution or company directly into your account. Examples include, but are not limited to, Social Security or other government benefits, person-to-person payments, and transfers between your external accounts into your Affinity checking account. ATM transactions, purchases of money orders or cash equivalents, loan payments, and transfers between accounts do not count toward the monthly requirements. Transactions bundled by merchants and received as a single posting count as one purchase. View the Monthly Qualification Cycle guide for exact dates at affinityfcu.com/privacy-disclosures or call our Member Service Center at 800.325.0808

Rewards: Upon meeting the Monthly Qualification Cycle requirements, you will earn 10% cash back on up to $150 in eligible debit card purchases that post and settle within that cycle (maximum $15 per cycle). ATM withdrawal fees incurred during a cycle will also be refunded, up to $25. Cash back and ATM rebates will be deposited in your checking account on the last day of the Statement Cycle (the calendar month period). When the qualifications are not met, ATM withdrawal fees are not refunded. If you close your account before rewards post, you forfeit any unpaid rewards. Cash back and ATM rebate terms and conditions are subject to change after account opening. Cash back earned may be reported on an IRS 1099 Form, if applicable.

eStatements: To satisfy this account’s eStatement requirement and avoid the $2 monthly paper statement fee, enroll in eStatements and agree to the Electronic Delivery Disclosure within your first 45 days of membership. Thereafter, any account not enrolled will incur the $2 monthly fee. You may withdraw consent at any time via Online Banking or the Mobile App, which will reinstate the paper statement fee.