Texell Reaches $25 Million in Save First Accounts

Texell Credit Union reached a milestone with members depositing a combined $25 million in Save First accounts. With a competitive rate that’s higher than most savings rates, these savings accounts prepare members for unexpected expenses.

“One of the biggest impediments to financial stability is the lack of emergency savings,” said Tony Hale, President and CEO. “We want our members to get out of debt and save three to six months’ expenses in an emergency fund. A common question from those trying to build their emergency savings is, ‘where should I put the money.’ We created a product for exactly this purpose. It pays a very high yield when you leave it alone, but it’s still available if you have an emergency,” continued Hale.

Texell’s Save First Account pays a high-yield rate on balances between $500 and $25,000. If a withdrawal is made, the dividend rate reverts for the quarter, helping members think twice about withdrawing money for non-emergencies. Besides savings accounts, Texell also offers Money Market, Certificates of Deposit (CDs), and Individual Retirement Arrangements (IRAs) to help members reach financial goals.

Visit Texell.org/SaveFirst to learn more. Members can open an account in seconds through Digital Banking. For assistance or questions, call or text 254.773.1604.

Texell Credit Union has eight branches in Central Texas and offers a variety of financial products and services for consumers and businesses. With roots dating back to 1948, Texell has more than 50,000 members. Texell has been honored with the SBA #1 in Credit Union Lending Award, Excellence in Lending Award from CUNA Mutual Group, and the Desjardins Adult Financial Literacy Award from the Texas Credit Union League. The credit union is often voted as the “Best Bank/Credit Union” by the readers of the Temple Daily Telegram, “Best Credit Union” by the readers of the Killeen Daily Herald and the Belton Journal, and consistently earns the highest five-star, superior rating for financial soundness from Bauer Financial. Visit www.Texell.org for more information.

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