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Member Savings

Establish your Elements membership while earning competitive, tiered dividend rates.

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Or call 1-800-621-2105

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Member Savings Dividend Rate  APY 
$100.00 - $2,499.99 0.10% 0.10%
$2,500.00 - $49,999.99 0.15% 0.15%
$50,000.00 and Above 0.20% 0.20%

Member Savings Annual Percentage Yield (APY) effective as of July 1, 2025, 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. 

Questions?

Our experienced, helpful member service team is ready to support you!

1-800-621-2105

Live Chat Schedule Appointment with Savings Expert

Member Savings

We start you off with $5 when you open your account to become a member.

KEY FEATURES

  • No monthly Maintenance Service Charge
  • Tiered dividend rates that increase as your account balance grows
  • Maintain a minimum daily balance of $100 to earn dividends

Open an Account

MAY BE A GOOD CHOICE IF

  • You want to establish your Elements membership
  • You plan to maintain less than a $2,500 daily balance

Compare to Other Savings Accounts

What are the advantages of a Member Savings Account?

Establishing Elements Membership

The Member Savings account can be a good choice if you’re looking to simply establish your Elements membership (having a savings account with us is the part that makes your membership in the credit union official). We’ll even put $5 in to get you started — no need to transfer funds from an existing account. 

Competitive, Tiered Dividend Rates

It’s also a good choice if you plan to maintain a daily balance of less than $2,500. The account requires a minimum balance of just $100 to earn dividends and pay dividends in increasingly higher amounts as your account balance increases. 

With Member Savings, you'll also enjoy:

  • No monthly Maintenance Service Charge
  • Option to request an Elements ATM card to use at more than 90,000 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

How does Member Savings compare to other savings options?

Compare Member Savings to our other options below.

  Member Savings High Yield Savings Share Certificates (Fixed Rate) Flex Rate Certificates (Variable Rate)
  Open an Account Open an Account Buy a Share Certificate Buy a Flex Rate Certificate
Key Benefits

No monthly Maintenance Service Charge

No monthly Maintenance Service Charge

Higher rate than most regular savings accounts

Dividend rates that keep pace with a changing rate environment by flexing when the Prime Rate changes, up or down
A Good Option If You

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

You want to diversify beyond traditional savings accounts and other investments
APY 0.20% on balances $50,000 and above1 3.40% on balances $10,000 and greater2 Varies by term 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 Dividend rates that adjust with the Prime Rate
Minimum Balance to Earn Dividends $100 $0.01 — —
No Monthly Maintenance Service Charge
Minimum Balance to Open $5 — — —
Available Terms — — 6 months to 5 years 12 and 24 months
Available Amounts — — $1,000 or more ($500 or more if under age 18) $1,000 or more ($500 or more if under age 18)
No Monthly Inactivity Fee — —
Unlimited Transactions Per Month Allowed — —
  Open an Account Open an Account Buy a Share Certificate Buy a Flex Rate Certificate

What fees can I expect?

No Maintenance Service Charge

The Member Savings Account has NO monthly Maintenance Service Charge.

Inactivity Fee

For members 25 and older there is a $5 per month Inactivity 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?

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

Why should I choose Elements for my checking account?

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 5% of credit unions nationally3. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 90,000+ 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.

Open an Account

How do I open an account?

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 Member 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

Over the years, I've saved plenty of money for my home, kids and retirement in my Elements savings account.

- John V. | Member since 2002

How Much Should I Save to Reach My Goal?

Savings Calculator

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  1. 1 Member Savings Annual Percentage Yield (APY) effective as of July 1, 2025, 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. 
  2. 2 High Yield Savings Annual Percentage Yield (APY) accurate as of July 1, 2025. 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. The account 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 must deposit $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. Additional information for each tier: An APY of 0.10% applies to accounts with balances from $0.01 to $99.99. An APY of 0.75% applies to accounts with balances from $100.00 to $2,499.99. An APY of 1.25% applies to accounts with balances from $2,500.00 to $9,999.99. An APY of 3.40% applies to accounts with balances from $10,000.00 to $24,999.99. An APY of 3.50% applies to accounts with balances from $25,000.00 to $49,999.99. An APY of 3.60% applies to accounts with balances from $50,000.00 to $99,999.99. An APY of 3.70% applies to accounts with balances from $100,000.00 to $249,999.99. An APY of 3.80% applies to accounts with balances of $250,000.00 and above. At least one account holder must be 18 years of age. Other qualifications may apply. Offer may be discontinued at any time. Fees may reduce earnings.
  3. 3 Based on asset size as of 9/3/2024.