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Hideaway Savings

The perfect place to stash some cash to save for holidays or other special events

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Hideaway Savings Dividend Rate  APY 
$100 and Above 0.20% 0.20%

Hideaway Savings Annual Percentage Yield (APY) effective as of May 1, 2023, and may change after account opening without notice. Minimum daily balance of $100 required to earn dividends. Fees may reduce earnings. No monthly Maintenance Service Charge. No minimum balance requirements apply. 

Questions?

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Hideaway Savings

For your “special-occasion” money.

KEY FEATURES

  • Add to Hideaway Savings all year and then easily transfer funds to your Elements checking account when you’re ready to shop
  • No monthly Maintenance Service Charge
  • No minimum balance required
  • Maintain a minimum average daily balance of $100 to earn dividends

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MAY BE A GOOD CHOICE IF

  • You like the idea of out-of-sight, out of mind
  • You want to stash some cash away for a special goal

Compare to Other Savings Accounts

What are the advantages of a Hideaway Savings Account?

Friends drinking lemonade with straws in the sun.

Out of Sight, Out of Mind

You hear of people stashing extra money away in a container way up high on a shelf. Then if something special comes up, they have the money on hand. Well, the Elements Hideaway Savings is a way better plan because your money earns dividends instead of just collecting dust on a shelf. You can add to Hideaway Savings all year long and then easily transfer funds to your Elements checking account when you’re ready to use it. It’s a great way to save for holiday shopping, a beach getaway or other vacation, your child’s wedding, or other exciting purchases you’ve been saving for. When you put the money in Hideaway Savings, you’re not as tempted to use it for everyday expenses. 

With Hideaway Savings, you'll also enjoy:

  • No monthly Maintenance Service Charge
  • Option to request an Elements ATM card to use at more than 78,000 surcharge-free ATMs worldwide
  • Shared branch access at more than 5,000 branches nationwide
  • Ability to manage your account in Online Banking or the Mobile App from any device
  • Convenience of direct deposit of your payroll or federal benefits

Compare to Other Savings Accounts Open an Account

How does Hideaway Savings compare to other savings options?

Compare Hideaway Savings to our other options below.

  Hideaway Savings Member Savings High Yield Savings Certificates
  Open an Account Open an Account Open an Account Buy a Certificate
Key Benefits

No monthly Maintenance Service Charge

No minimum balance

No monthly Maintenance Service Charge

No monthly Maintenance Service Charge

Higher rate than most regular savings accounts
A Good Option If You

Like the idea of out of sight, out of mind

Want to stash some cash away for a special goal

Want a simple Savings account to establish your Elements membership

Like to earn higher dividends on your higher balances

Want a more predictable savings balance

Want to diversify your investments
APY 0.20% on balances $100 and above1 0.20% on balances $50,000 and above2 4.25% on balances $10,000 and greater until October 31, 20233 Varies by term
Rate Structure — Tiered dividend rates that increase as your account balance grows Tiered dividend rates that increase as your account balance grows Dividend rates that increase with the length of the Certificate term
Minimum Balance to Earn Dividends $100 $100 $0.01 —
No Monthly Maintenance Service Charge
Minimum Balance to Open — $5 — —
Available Terms — — — 6 months to 5 years
Available Amounts — — — $1,000 or more ($500 or more if under age 18)4
No Monthly Inactivity Fee — — —
Unlimited Transactions Per Month Allowed —
  Open an Account Open an Account Open an Account Buy a Certificate

What fees can I expect?

A couple widow shopping for clothes at the holidays.

No Maintenance Service Charge

The Hideaway Savings Account has NO monthly Maintenance Service Charge.

Inactivity Fee

For members 25 and older there is a $5/month fee assessed if your checking and savings accounts have had no activity for at least 12 months; you have no other active deposit, loan or credit card product with Elements; and deposit balances total $1,000 or less. It is collected from the first checking or savings account that has sufficient funds to satisfy the fee, starting with checking and then moving to savings until the full fee is collected.

Is Elements Online Banking easy to use?

A woman depositing a check with her phone.

Yes! It’s easy to do your banking and budgeting with Elements — no matter where you are. Our goal with Online Banking is simple: to provide you with a state-of-the-art digital banking experience that you can count on and is consistent across all devices.

With Elements Online Banking and our Mobile App, you can:
  • Check your balances, make loan payments, and transfer money between accounts
  • Deposit checks using your phone or computer camera
  • View check images online
  • Pay your bills online 24/7/365
  • Review your account history with a 14-month electronic archive of statements
  • Locate branches and ATMs near you
  • See your SavvyMoney credit score with any checking account or loan
  • Pay friends and family conveniently with Zelle® plus other digital wallet options
  • And more

Learn More about Online Banking & Mobile App

Why should I choose Elements for my savings account?

A couple going hiking with their dog.

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with one-on-one assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 4% of credit unions nationally5. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Get Started

How do I open an account?

A screenshot of our online application.

Getting started is as easy as 1-2-3!

  1. Open an account online - Open an account online in as little as 10 minutes. Or call 1-800-621-2105 to get started. Have your government-issued ID (driver’s license, state ID, or passport) and your Social Security number ready.
  2. Check your email - You will receive an email within one business day to notify you of account approval. That’s it! Your Hideaway Savings Account is now open.
  3. Enroll in Online Banking - Easily check your balances, make loan payments, pay bills and transfer money between accounts from your smartphone, tablet, laptop or desktop. Learn more about Online Banking.

Open an Account

How Much Should I Save to Reach My Goal?

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Other Savings Options
Other Ways to Save
  1. 1 Hideaway Savings Annual Percentage Yield (APY) effective as of May 1, 2023, and may change after account opening without notice. 0.20% APY on balances $100.00 and Above. Minimum daily balance of $100 required to earn dividends. Fees may reduce earnings. No monthly Maintenance Service Charge. No minimum balance requirements apply.
  2. 2 Member Savings Annual Percentage Yield (APY) effective as of May 1, 2023, and may change after account opening without notice. 0.10% APY on balances $100.00-$2,499.99; 0.15% APY on balances $2,500.00-$49,999.99; 0.20% APY on balances $50,000.00 and Above. Minimum daily balance of $100 required to earn dividends. $5 required minimum balance to open the account. No monthly Maintenance Service Charge. Fees may reduce earnings. 
  3. 3 High Yield Savings promotional Annual Percentage Yield (APY) accurate as of May 1, 2023. High Yield Savings is a tiered savings account paying a variable dividend rate, that may change at any time, on the entire balance in your account based on the rate for the tier corresponding to each day’s daily balance. Balances of $10,000.00 and above will earn a fixed promotional Annual Percentage Yield (APY) of 4.25% until October 31, 2023. The APY is 0.10% on balances up to $9,999.99. The promotional APY is available for new money only which are funds not on deposit at Elements for 90 days prior to opening the High Yield Savings account. Existing Elements members with savings accounts are eligible for the promotional APY upon depositing $25,000.00 or more of new money within 10 days of opening the High Yield Savings account. Existing Elements members with savings accounts with combined daily balances of $2,500.00 or less for the 90 days prior to account opening are excluded from the new money requirement. On November 1, 2023, the promotional APY will automatically convert to the then current non-promotional APY which is variable and may change at any time without notice. Additional information for each tier: A promotional APY of 0.10% applies to accounts with balances from $0.01 to $99.99; from $100.00 to $2,499.99; and from $2,500.00 to $9,999.99. A promotional APY of 4.25% applies to accounts with balances from $10,000.00 to $24,999.99; from $25,000.00 to $49,999.99; from $50,000.00 to $99,999.99; from $100,000.00 to $249,999.99; and $250,000.00 and above. At least one account holder must be 18 years of age. Other qualifications may apply. Promotional offer may be discontinued at any time. Fees may reduce earnings.
  4. 4 Minimum certificate deposit of $1,000. Minimum required to open a child’s certificate is $500; child must be under 18 years of age. Minimum of $500 balance required to earn dividends. We may impose a penalty if you withdraw any of the principal before maturity. Elements reserves the right to limit the balance of a certificate at any time.
  5. 5 Based on asset size as of 12/31/2021