Financial Products

Savings Account
Online Savings Account
Certificate of Deposit (CD)
U.S. Savings Bond, Series EE
U.S. Savings Bond, Series I
Money Market Account

Type of Product	SAVINGS ACCOUNT (bank); SHARE ACCOUNT (credit union)
Minimum Initial Deposit	Usually $25-100 but make certain monthly fees are not charged for small balances
Yield	Usually .2-.5%
Safety	Government-insured*
Access to Funds	Immediate
Where to Purchase	At any bank, thrift, or credit union
How to Purchase	In person, online, or by phone
How to Make Deposits	Through tellers, ATMs, or automatic monthly transfer from checking account
Other Features	At many institutions, minimum balance of $100-500 is required to avoid monthly fees or automatic transfers of $5 - $25 a month.

Type of Product	Online Savings Account
Minimum Initial Deposit	As low as $1 at some institutions
Yield	Usually 1-2%
Safety	Government-insured*
Access to Funds	Immediate
Where to Purchase	At any bank, thrift, or credit union
How to Purchase	In person, online, or by phone
How to Make Deposits	By transferring money from a checking account, or through direct deposit.
Other Features	Confirm that the online institution is insured.

Type of Product	CERTIFICATE OF DEPOSIT (bank); SHARE CERTIFICATE (credit union)
Minimum Initial Deposit	At most institutions, at least $500
Yield	Usually 1-2%
Safety	Government-insured*
Access to Funds	Immediate but interest penalty
Where to Purchase	At any bank, thrift, or credit union
How to Purchase	In person, online, or by phone
Other Features	Certain financial institution will notify you when CD matures

Type of Product	U.S. SAVINGS BOND, SERIES EE
Minimum Initial Deposit	As low as $25 ($50 for payroll deduction)
Yield	Usually 1.5%
Safety	Government-guaranteed
Access to Funds	After first 12 months, immediate access but loss of 3 months interest
Where to Purchase	At any bank, thrift, credit union or from the U.S. Treasury
How to Purchase	Through www.treasurydirect.gov - where savers can buy electronic (no paper) savings bonds with checking account deductions, 24/7.
How to Make Deposits	www.treasurydirect.gov allows periodic deposit or checking account deductions to purchase bonds
Other Features	Must cash in after 30 years or no more interest earned; face value of bond twice the purchase price ($50 bond costs $25)

Type of Product	U.S. SAVINGS BOND, SERIES I (with inflation protection)
Minimum Initial Deposit	As low as $25
Yield	Usually 0-2%
Safety	Government-guaranteed
Access to Funds	After first 12 months, immediate access but loss of 3 months interest
Where to Purchase	Through www.treasurydirect.gov - where savers can buy electronic (no paper) savings bonds with checking account deductions, 24/7.
How to Purchase	Through www.treasurydirect.gov- where savers can buy electronic (no paper) savings bonds with checking account deductions, 24/7.
How to Make Deposits	EASY SAVER program allows periodic payroll deposit or checking account deductions to purchase bonds
Other Features	Must cash in after 30 years or no more interest earned

Type of Product	Money Market Account
Minimum Initial Deposit	As low as $250 at some institutions
Yield	Usually .1-.3%
Safety	Government-insured*
Access to Funds	Immediate
Where to Purchase	In person, online, or by phone
How to Purchase	Money market fund

* Accounts at some credit unions are privately insured.