Portland, Ore., June 28, 2018 – Unitus has launched a new reverse-tier savings account product that upends the traditional savings model.
Go Savings is a high-yield savings account designed to help people save more money at all stages of life.
Go Savings Inverts The Traditional Savings Model
Go Savings inverts the traditional savings model by offering the highest rate of returns to accounts with the lowest balances. For accounts with higher balances, the product still yields high returns relative to the marketplace.
“Banks and other financial institutions are traditionally incentivized to give more back to those who have high balances,” said Steve Stapp, President & CEO of Unitus.
“While this makes sense from a bottom line business perspective, it can make it more difficult for people to build a foundation for themselves and loved ones.”
“Saving money is the backbone we need to live our best lives. Go Savings gives high returns early to get us on track saving, and continues to reward those of us who are already established savers.”
“Saving money is the backbone we need to live our best lives.”
Go Savings Accounts Offer Flexible Access
Like all savings accounts subject to Reg D, Go Savings allows owners to withdraw from their account up to six times per month. The rates offered do not expire.
“Young professionals are finishing school today with high student loan debt and rising costs of living,” said Brian Alfano, Vice President of Member Services and Chief Retail Officer at Unitus.
Alfano goes on to say, “Likewise, an alarming percentage of people approaching retirement need to save more in order to retire securely. Both groups need these funds to be accessible.”
“The great thing about Go Savings is that it provides the liquid funds of a Money Market account with an unusually high rate of returns.”
How To Open Your Own Go Savings Account
It’s easy. You can open your Go Savings account online, over the phone, or in person at a Unitus branch.
Account ownership, as well as membership at Unitus, is available to anyone who lives or works in the state of Washington or in the fifteen Oregon counties which Unitus serves.
Got questions? We’ve got answers to your GO Savings questions.