SAVINGS BUILDER PROGRAM
The Savings Builder helps you save automatically on a schedule that works for you.
The Savings Builder helps you get in the habit of saving regularly, by using the convenience of automatic transfer. With an automatic savings plan you put money away before you even see it. Soon you will have the funds you need for that special purchase, vacation, or to reach that short or a long term goal.
To start the program just open a Secondary Savings Account and establish an automatic transfer from another Metro account. When the balance in the Secondary Savings reaches $500, a 12 month CD will automatically be opened.
After the CD is opened you will continue to save in the Secondary Savings and when the balance reaches $500 another CD will be opened. This process will continue until you notify Metro that you want to cancel the program.
How to Open:
1. Log in to Online Banking and request through secure messenger or chat
2. Stop by any branch location
3. Call Member Services at 877-696-3876
*Minimum $5 to open a Secondary Savings. Rates are subject to change after account opening. To be eligible you must establish an automatic transfer from a Metro account to the Secondary Savings. Once the balance in the Secondary Savings reaches the minimum opening deposit as stated in the Truth in Savings Disclosure for a 12 month Certificate of Deposit (CD), Metro will transfer the balance from the Secondary Savings Account to the CD within 2 business days. After the first CD is opened, automatic transfers will continue into the Secondary Savings Account and subsequent 12 month CD’s will be opened when the Secondary Savings reaches the minimum opening deposit as stated in the Truth in Savings Disclosure.
** CD’s will earn the rate as stated on the current Savings and Investment Rate sheet at the time the CD is opened. CD Rates are subject to change without notice. Fees could reduce earnings. Dividends are compounded daily and paid monthly for 12 month CD’s. Federal regulations require a penalty for early withdrawal on all time deposits.
The Savings Builder Program will remain in effect until Metro is notified as stated in the Savings Builder Authorization and Disclosure. Allow 3 business days for transfers to be changed or cancelled once a request has been received by Metro.