Liquid Asset Tips, Info & FAQs
A limited withdrawal savings account that pays a rate based on the Federal Funds rate
Want to save more? If you have funds elsewhere and don’t need immediate access to them, you can earn a higher dividend rate with our Liquid Asset account. To allow your savings to grow, even more, you may transfer funds from existing United Texas accounts in any amount when you deposit an equivalent amount of new funds into the account.
Ways to Boost Your Savings
With everything that’s going on in the current environment, it’s crucial that you keep your savings intact and growing.
It’s much better to be prepared for whatever the future holds. Therefore, you must take steps to protect and bolster your savings, which you can do in the following ways:
- Revisit your budget. Take time to review your budget or past account statements thoroughly to identify areas you can cut back. You don’t necessarily have to make dramatic changes – every little bit helps. For example, you may still be paying for subscriptions that you no longer use. Be sure to go through every expense and evaluate whether you need it or not.
- Automate your savings. The best way to keep your savings up is by constantly adding to it. Think of adding more money to your savings just as you would any other monthly bill. Then automate the process with payroll deduction or automatic transfers so that you never have to think about it.
- Consolidate credit card debt. If you currently have high-interest credit cards, consider consolidating them into one lower-rate credit card or personal loan. Doing so will help reduce the amount of money you’re spending on interest each month – freeing up extra funds to pay down more debt or add to your savings.
- Refinance your loans. Loan rates are steadily increasing. If you currently have loans financed elsewhere, consider refinancing them with us. By taking advantage of today’s interest rates, you’ll free up money that you can transfer into your savings each month.
Developing good saving strategies is essential to ensuring that your future is secure and worry-free. With a combination of cutting back on frivolous spending and considering options of lowering your current loan payments, you may be able to free up a significant amount of money, giving you a head start on your savings plan.
If you’re looking to automate your savings or would like to consolidate your debt or refinance your loans, we’re ready to help. Our financial experts will work with you one-on-one to find opportunities for you to save. Please stop by any of our convenient branch locations or call 1-800-531-8456 today.
What does "limited withdrawal account" mean?
This account is not considered to be a transaction account. Therefore, we must limit withdrawals on this account to three during the statement period. An Excessive Transaction Fee will be imposed on each withdrawal exceeding three as per the Fee Schedule.
Is there a limit on the number of deposits you can make to this account?
No. You are allowed to make unlimited deposits of new money to this account.
Can I transfer funds from my other United Texas accounts into the Liquid Asset Account?
As long as you deposit an equivalent amount of new money from a source outside of United Texas Credit Union, you may transfer funds into a Liquid Asset account.
Can you write checks against this account?
No, you may not write checks against this account.
Is there a minimum balance requirement to avoid a fee?
No, there is not.
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Liquid Asset Rates & Calculator
Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
|Balance up to $2,499.99||0.15% APY*|
|Balance** of $2,500 and Over||3.82% APY*|
*APY = Annual Percentage Yield. APY is accurate as of June 1, 2023, and may change after the account is opened. New money only. Transfers from other United Texas accounts will only be allowed when a member brings in an equal amount of new money from outside the credit union. The minimum balance to earn the higher APY is $2,500. Dividends are based on the daily balance and are paid to the account monthly. Fees or other conditions could reduce the earnings on the account. Each withdrawal in excess of three per statement period will incur a fee. Withdrawal requests of $1,000,000 or more require 24 hours of advance notice.
**Variable rate account subject to change when the Federal Funds rate changes.
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Liquid Asset Why United Texas
- $2,500 minimum opening deposit
- Unlimited deposits of new money in any amount
- Transfers from other United Texas accounts allowed with an equal amount of new money deposited
- Variable dividend rate that matches the Federal Funds rate on balances of $2,500 or more
- Up to three free withdrawals per month
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Liquid Asset How it Works
Opening a Liquid Asset account with us is easy.
Give us a call, contact us online, or come into any one of our branches.
Join United Texas Credit Union. All you need to do to become a member is to open a $5.00 minimum savings account.
Open a Liquid Asset Account with a minimum deposit of $2,500 of new money.
Start earning great rates!
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Need a Hand?
Per Regulation D, this account is not considered to be a transaction account, therefore, United Texas must limit transactions on this account to three withdrawals during the statement period. An Excessive Transaction Fee will be imposed on each withdrawal exceeding three as per the Fee Schedule.