FAIRBORN, Ohio — To help those who need an incentive to save more, Wright-Patt Credit Union has launched a new account that carries a 7% annual percentage yield.
The TrueSaver account pays a dividend of 7% annual percentage yield on the first $500 of savings. After that amount is reached, the annual percentage yield drops to 1.7%. The goal, the $1.2 billion credit union said, is to offer a kick start to those who might not be encouraged to start saving.
Those under the age of 18 automatically qualify, according to the credit union. Persons over that age need to have an "active" Wright-Patt credit union checking account, eStatement or direct deposit.
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