Checking & savings accounts are very similar, but have a few key distinctions. When you use your GUASFCU Visa card at merchants, the money will come out of your checking account. Similarly, anytime you write a check, the money will come out of your checking account. A savings account earns interest, meaning that while money is in your savings account, it grows over time. Both are insured by the U.S. government for balances up to $250,000 through the NCUA. To encourage savings, the government limits withdrawals from savings accounts to six per month. GUASFCU highly recommends having both accounts.
House and group accounts are perfect for clubs, roommates, or any group of students that need to share a checking account. These accounts have multiple owners and come with all the same great features as our personal checking accounts. These are perfect for collecting rent for landlords or managing ownership in dynamic student organization accounts.