Langley Saves is a FREE program designed to help members learn to save, establish self-sufficiency, reduce debt and build wealth. The Langley Saves (S62) account is a great tool to help you save money. It features a three tiered dividend rate structure. You'll notice that the dividend structure seems to be upside down — you get the highest dividend rate on the lower amounts of money you have on deposit!
Example of this dividend structure:
If you have $3,000 on deposit, you'll earn the Tier 1 APY on the first $500, the Tier 2 APY on the next $2,000 (the amount greater than $500 but not exceeding $2,500), and the Tier 3 APY on the remaining amount (the amount greater than $2,500).
This new structure was designed primarily to help young people and those of modest means get into the savings habit while earning excellent dividends, but this account is a great savings tool for everyone. A recurring deposit of at least $10 a month is required for those age 19 and older and withdrawals are limited to 2 per calendar year.
Click here for more information about LFCU's Langley Saves program.
