Savings Accounts and Earning Interest
Make your money work for you by saving at Delaware State Police FCU! The credit union will pay you interest for keeping your money in a savings account.
Here’s an example of how interest works:
If you save a dollar a day in a jar in your room, after 10 years you’ll end up with $3,650. That’s more than a small chunk of change.
However, if you save that dollar a day in your Delaware State Police FCU savings account, earning 2.5% interest, you’ll end up with $4,147. That’s an extra $497!
Where does this extra money come from? It’s the magic of compounding interest. Compounding means that if you save the interest that your money earns, it will earn interest, too. That’s right; you can earn interest on your interest.
As you save more money, you’ll discover ways to make your money work even harder. There are savings products that pay even more interest than savings accounts. For example, money market accounts and share certificates.