Financial Products

Several financial institutions are offering special financial products to all DC Savers. These DC Saves Accounts are designed to help you start saving at any level. 

Savings accounts offer no monthly or minimum-balance fees for at least the first 12 months, and opening and/or monthly minimum deposit requirements of less than $25.  Please contact the financial institution directly for more information about their products.  All products are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA).

Banks offering DC Saves Accounts:

• Citibank
  Citibank Day-to-Day Savings Account: $25 minimum opening deposit requirement. No monthly minimum balance requirement, no limits on the number or amount of deposits or withdrawals. Monthly maintenance fee (normally $5) waived for 12 months. 
  Citibank Ultimate Savings Account: Stand-alone money market account, must be opened online. No minimum deposit required at account opening. No monthly maintenance fees.
  Citibank at Work Account: Customers participating in our Citibank at Work Program are eligible to receive a savings and linked checking account with no monthly maintenance fees. $25 minimum opening deposit required for the savings account.
• Countrywide Bank
  Community Savings Account: $25 minimum opening deposit requirement, no monthly fees. Unlimited deposits and up to six free withdrawals each month. Interest rate varies depending on account balance.
• M&T Bank
  Personal Savings Account: $25 minimum opening deposit requirement, no monthly maintenance fees for the first 12 months. After the first year, no monthly service fee when you maintain a minimum of $250 in your account. Includes free account access at over 1,500 M&T Bank ATMs and free internet banking. Direct deposit available, as well as “Easy Save” option to set up convenient, automatic transfers from your checking account.
• PNC Bank
  DCSaves Savings Account: $25 minimum opening deposit requirement, no monthly maintenance fee for 12 months. Unlimited deposits and up to three free withdrawals per month. Balances of $25 and higher earn interest. Visit any Greater Washington Area PNC Bank Branch for additional information.

Credit Unions* offering DC Saves Accounts:

• Agriculture Federal Credit Union
  Primary Savings Account: $5 minimum opening deposit required. As a DC Saver, if the balance remains at $5 or above, no fee will be charged.
  Asset Builder Account – No minimum balance; yields higher interest rate; 24-month term and subject to a penalty if monies are withdrawn before maturity; Deposits can be made anytime during the 24-month period.
  Checking Account with No  Minimum Balance – Account linked to Visa check card; Unlimited access to your account, free bill pay, online banking and much more. Membership includes anyone who lives, works, worships, attends school, or volunteers in Washington D.C.

• Andrews Federal Credit Union
  AndrewSaver Account: $5 minimum opening deposit requirement. A competitive dividend rate will be paid on balances of $25 or more. After the first year, saver must maintain a $100 minimum balance or sign up for direct deposit to waive the monthly minimum balance fee.  Membership includes anyone who lives, works, worships, attends schools or volunteers in Washington, D.C.

• Congressional Federal Credit Union
  Congressional Savings Account: $5 minimum opening deposit requirement. No monthly fees or minimum balance requirements. Includes free online banking. Congressional FCU serves the Members of Congress, employees of the U.S. House of Representatives, and select employee groups, and their family members.
• DVA Federal Credit Union
  Regular Savings Account: $5 minimum opening deposit requirement. Pays regular share savings account rate. No monthly fees or minimum balance requirements.  Deposits can be made at any time. DVA FCU membership is open to the employees of the U.S. Department of Veterans Affairs, and their family members, and individuals and businesses in most of Northwest and Southwest DC.
• Department of Commerce Federal Credit Union
  New Member Account: Receive $50 to start an account with savings, checking, and direct deposit (allotment). Department of Commerce FCU membership is available to anyone who lives, works, worships, or attends school in Washington, D.C. or is employed by the Department of Commerce* or NOAA (includes contractors), or immediate family members of the aforementioned. *With the exception of employees of the Patent and Trademark Office, the National Institute of Science and Technology and the Bureau of the Census.
• Department of Labor Federal Credit Union
  Regular Savings Account: $10 minimum opening deposit requirement.  Account pays dividends, and there are no monthly fees or minimum balance requirements. Department of Labor FCU membership is available to anyone within its field of membership which includes DOL employees, contractors, and family members.
• District Government Employees Federal Credit Union
  Regular Share Account: $5 minimum opening deposit requirement. DGEFCU membership is open to District Government, Black Entertainment Television (BET), and District Cablevision employees, and residents of Adams Morgan, Mount Pleasant, or Columbia Heights, and family or household members of all people eligible for any of the foregoing reasons.
• Government Printing Office Federal Credit Union
  GPO Super Savers Youth Account: $10 minimum opening deposit requirement, available to youth up to 18 years old. Youth 16 or older are eligible for an ATM card with the signature of the parent. All youth account holders have access to Googolplex, an online learning library with a variety games, puzzles and financial articles for elementary, middle and high school students. GPO FCU serves the employees of the U.S. Government Printing Office, GPO retirees, and family members of those employees and retirees.
• HEW Federal Credit Union
  Regular Share Account: $5 minimum opening deposit requirement. No monthly fees or minimum balance requirements. Share accounts earn competitive tiered dividends, which are paid and compounded quarterly.  HEW FCU serves employees of the U.S. Departments of Health and Human Service and Education, the Social Security Administration and select employee groups.  The credit union also serves all those who live, work, worship and attend school in Washington, D.C., Prince George’s County, MD (inside the beltway), and portions of Fairfax and Arlington Counties and the City of Alexandria, VA.
• HUD Federal Credit Union
  Share Builder Account: $5 minimum opening deposit requirement. No monthly fees or minimum balance requirements, free online access.  HUD FCU serves the employees of, and contractors to, the U.S. Department of Housing and Urban Development, as well as local Hyatt Hotels.
• Hoya Federal Credit Union
  Regular Savings Account: $25 minimum opening deposit requirement. No monthly fees or minimum balance requirements. Competitive interest rate, interest is compounded monthly and paid quarterly. Individuals age 17 and younger start earning dividends with opening deposits of $10. As an added convenience, we offer free direct deposit and payroll deduction and will set up automatic transfers to your savings account upon request. Hoya FCU field of membership includes the faculty and staff of Georgetown University and Medstar’s faculty and staff that work on the campus, and their family members.
• Library of Congress Federal Credit Union
  Share Savings Account:  $5 minimum opening deposit requirement for new members of any age.  No monthly fees or minimum balances required. LCFCU serves employees, contractors, and families of the Library of Congress, individuals who live, work, study or worship in the District of Columbia, as well as business and legal entities also in D.C.  LCFCU membership offers dividend-earning checking, free ATMs and nationwide shared branch offices, free home banking and electronic bill pay, free direct deposit, free telephone account access and management, and more free or low-cost services for all eligible members.
• NRL Federal Credit Union
  Share Savings Account: No minimum balance required to earn dividends except for the initial $5 deposit to open the account and establish credit union membership.  No monthly service fees.  ATM and electronic teller access.  NRL FCU membership is open to employees of the Naval Research Lab in Washington, DC, contractors, family members, and select employee groups.
• Pepco Federal Credit Union
  Regular Share Account: $5 minimum opening deposit requirement. No monthly fees or minimum balance requirements. Pepco FCU membership is available to the employees of Pepco Holding Incorporated in the Washington Metropolitan Area, and members of their families.
• Signal Financial Federal Credit Union (formerly Washington Telephone FCU)
  Share Savings Account: $5 minimum opening deposit requirement.  No monthly fees or minimum balance requirements.  Pays regular share savings account interest rate.  Membership includes anyone who lives, works, worships, attends schools or volunteers in Washington, D.C., and Prince George’s County, MD (inside the beltway), or one of its select employee groups.
• Treasury Department Federal Credit Union
  Share Savings Account: $10 minimum deposit required to open account and retain membership in the credit union.  There are no monthly fees associated with this account.  Treasury Department FCU field of membership includes anyone employed by the Treasury Departmental offices and anyone who lives, works, worships, or attends school in Washington, DC.
• United States Senate Federal Credit Union
  Share Savings Account: $5 minimum opening deposit requirement and a one-time $1 membership fee.  Allows for check card withdrawals; monthly withdrawal restrictions apply.  United States Senate FCU membership primarily consists of the United States Senate, Government Accountability Office, United States Supreme Court, Architect of the Capitol, United States Capitol Police, and those contractors and individuals that support these agencies.
  

* Did you know that many credit unions in DC have recently expanded their memberships to include any person living in the city or a particular area of the city?  Click here for a list of credit unions open to most residents of DC.  For more information about credit unions, read this short article or visit http://www.mddccua.org.