Savings & Money Market Accounts

A personal savings account or money market deposit account is an important part of your financial strategy. No matter who you are and regardless of your lifestyle and goals, savings are an important way to protect yourself financially. A savings account can hold and grow money for you, for any purpose:

• The down payment for a home
• Future investments
• Emergencies
• Deductibles for your insurance plans
• Special trips
• Holiday spending
• Education
• A car purchase
• Home renovations
• A recreational vehicle purchase

Financial experts agree that robust savings can help protect many families and individuals from financial distress. Knowing you have a nice nest egg in the bank means you have cash when life’s unexpected situations happen. Savings can also mean you require less financing for major purchases, allowing you to save on interest and making qualification for loans much simpler.

If you already have a checking account, you may wonder whether you need a separate account for savings. There are a few reasons why a personal savings account makes a lot of sense:

• With your money in a separate account for saving, you're less likely to spend.
• The money in your savings account will not be affected by automatic bill withdrawals and other financial responsibilities.
• You can see your savings grow rather than trying to determine what percentage of your balance is for bills and how much amounts to savings.
• A savings or money market account earns interest, allowing you to meet your savings goals sooner.
• It may be easier to stay motivated as a saver if you can see your account growing.

At First Heritage, we make our savings accounts convenient, so you can always access your money and watch your savings grow. If you don't have a savings account, contact First Heritage today.

The First Heritage Statement Savings account is a traditional savings account. It provides maximum flexibility while allowing you to save money and earn interest. If you would like to save money but want the flexibility you've come to expect from your checking account, this type of savings account might be right for you. This type of account may also be an option if you're just starting to save and will not be keeping a large balance in your account just yet.

Our Statement Savings Account allows you to earn interest, and you only need a $25 minimum deposit to open the account and start earning interest. You’ll have access to your account through any ATM with a free ATM card, and you’ll be able to review your account at any time with our free online banking service.

A money market account is a great option if you will be able to maintain a larger balance and are maybe saving for a larger purchase or an emergency fund. In other words, if you don't need to withdraw your money fast and often and want your money to grow with a higher interest rate, a money market deposit account may be an option to explore.
To combine the interest-earning power of a Savings Account with the convenience of a Checking Account, First Heritage’s Money Market Account is the solution for you. This tiered account provides a higher yield for larger balances. A $2,500 balance is required to earn interest and avoid monthly service fees. You can also look into our Personal Indexed Money Market for accounts with rates that track the Fed Funds rates.