Types of Affinity savings
If you want to safely deposit your money and earn interest on it, consider no-fee savings accounts from Affinity.
- Everyday Savings. An Everyday Savings account provides a 0.50%-0.75% interest rate based on the account balance. This account also features two monthly transactions included. Each transaction over the monthly limit will cost you $2.
- Investor Savings. With an Investor Savings account, you can grow your earnings faster. The interest rates provided by this account range from 1.45% to 1.65%, depending on the balance. An Investor Savings account features one monthly transaction included. Each transaction over the monthly limit will cost you $5.
How to open an Affinity savings account?
If you are an Affinity member already, you can open a savings account from your online banking personal area.
Otherwise, you should visit an Affinity Advice Centre to obtain membership and open a savings account of your choice. Or, you can open an account by phone through the Affinity Contact Centre by calling the following number: 1.866.863.6237.
Requirements
To open a savings account with Affinity, you must be a Canadian resident of at least 18 years old — the age of majority in Saskatchewan.
Pros and cons
Let’s outline the advantages of Affinity savings accounts:
- No monthly fees
- No limits on electronic transfers between your Affinity accounts
- No fees for deposits
- Insurance coverage of members’ deposits by the Credit Union Deposit Guarantee Corporation
- An opportunity for members to open an account online
Still, there are disadvantages to be aware of:
- Few monthly transactions included
- No option to open an account online for non-members
- No option to access an Investor savings account through an ATM
How to fund an Affinity savings account?
There are several ways to fund your Affinity savings account:
- Transferring funds between your accounts via online, mobile, or telephone banking and through an ATM
- Depositing funds through an ATM
- Depositing funds in person at an Affinity branch near you