The role of savings is getting 'super-sized' at NMTW Community Credit Union.
Unveiling its new Super Life Saver savings account, the Lowell, Massachusetts-based credit union is offering members an extra $100 if they deposit $100 per month for the next 12 months. NMTW CCU will also provide new members the initial $25 needed to open the account.
According to NMTW CCU President/CEO Kenneth Del Rossi the new savings account is just one of several innovative services geared toward helping encourage members to start replenishing their savings.
For example, not wanting members to wait to receive interest on their investments, the credit union has also launched the Pay It Forward CD, a 13-month CD with an interest rate of 2.18% APY. Interest is calculated on the spot and deposited right into members' savings or checking account.