Secondary Savings
Saving feels a lot easier when every dollar has a job. A Secondary Savings account lets you organize your money by goal, so your vacation fund, your emergency fund, and your everyday savings stay neatly separated instead of blending into one balance. Open as many as you need, name each one, and watch every goal grow on its own.
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What is a Secondary Savings account?
A secondary savings account is an extra account you open alongside your Regular Savings to save toward a specific goal. Sometimes called savings buckets or sinking funds, they let you split your savings across multiple accounts, so each goal (a rainy-day fund, the holidays, a new car) stays easy to track.
- Earn up to 0.05% APY¹
- Earn interest quarterly on balances of $500+
- No minimum balance to open
- 24/7 access within Digital Banking
- Federally insured by NCUA up to $250,000 per depositor
- Open as many as you need to match your goals
Why open a Secondary Savings account?
When all your savings sit in one account, it's tough to know how much is really set aside for what. A Secondary Savings account fixes that by giving each goal its own home. Here's why members love using multiple savings accounts:
- Organize your money by goal, so nothing gets accidentally spent
- Build an emergency fund without touching your vacation savings
- Track your progress toward each goal at a glance
- Keep goal money separate from your everyday spending
- Start where you are, with no minimum balance to open
- Earn dividends while you save
- Enjoy the peace of mind of NCUA-insured savings
One savings account vs. multiple savings accounts: which is right for you?
Both approaches keep your money safe and earning dividends. The difference is how clearly you can see your progress. Here's how a single account compares to using multiple savings accounts as savings buckets:
|
01 Money Market Col 1
|
One Savings Account
|
Multiple Savings Accounts (Savings Buckets)
|
|---|---|---|
| Best for |
Simple, all-in-one saving |
Saving toward several goals at once |
| Goal tracking |
One combined balance |
A separate balance for each goal |
| Temptation to overspend |
Easier to dip into the whole pot |
Goal money stays clearly set aside |
| Deposit insurance |
NCUA-insured up to $250,000 |
NCUA-insured up to $250,000 |
| Earnings |
Dividends on qualifying balances |
Dividends on each qualifying balance¹ |
| Setup |
A single Regular Savings account |
Your Regular Savings plus one or more Secondary Savings accounts |
For a lot of members, the sweet spot is a Regular Savings account for the essentials plus a few Secondary Savings accounts for specific goals. It's the simplest way to turn one big balance into an organized plan.
How a Secondary Savings account works:
Getting organized takes just a few minutes.
Add a Secondary Savings alongside your Regular Savings, online, by phone, or at any branch
Label each account (vacation, emergency fund, holidays) so you always know what it's for
Schedule regular deposits into each goal so your savings can grow on autopilot
Track your progress anytime in Digital Banking, and open more accounts as new goals come up
See how much faster your goals add up.
A little set aside on a regular schedule really adds up. Use our calculator to see how increasing your savings, even by a small amount each month, can help you reach each goal sooner. Your deposit, timeline, and rate of return all play a part.
Ready to start organizing your savings by goal?
Open your Secondary Savings account today. Whether you're saving for one goal or five, we're here to help you set it up in minutes, so every dollar knows exactly where it's headed.
Frequently Asked Questions
There's no single right answer, but many people find it helpful to keep one account for everyday savings plus a separate account for each specific goal, like an emergency fund, a vacation, or the holidays. The idea is to keep your goals clear and your progress easy to track.
Yes. At Advia, you can open multiple savings accounts, including several Secondary Savings accounts, all under your membership. Many members use them as savings buckets, with one account per goal, so their money stays organized in one place.
Your Regular Savings is the primary account that establishes your Advia membership. A Secondary Savings account is an additional account you open on top of it to save toward a specific goal. You can have one Regular Savings and as many Secondary Savings accounts as you need.
No. There's no minimum balance to open, so you can start saving right away. Keep in mind that a minimum average daily balance of $500 is required to earn dividends.
You can open one online through Digital Banking, over the phone at 844.238.4228, or at any Advia branch. You'll need a government-issued ID and your Social Security number, and most accounts can be opened in about 10 minutes.
Ready to grow your savings even further?
A Secondary Savings account is a great way to organize by goal. When you're ready to earn more or save for something specific, explore our other options:
- Money Market Savings — Earn higher progressive rates on larger balances, with monthly interest and easy access
- Holiday Club Savings — Save throughout the year so holiday spending is covered — funds released November 1
- UTMA Savings — Save for a minor's education or future with no limit on the number or amount of contributions
- Non-Interest Savings — A no-frills savings account with 24/7 Digital Banking access and no minimum balance
Have questions about opening a Secondary Savings account? We're here to help.
- Dividends will be compounded and credited quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date is the last day of the dividend period and for the example above is March 31. If an account is closed before dividends are credited, accrued dividends will not be paid. A minimum average daily balance of $500 is required to earn dividends in the Secondary Savings Account.