Way-above-average rates for Cultivate and Vault are helping savers of all ages get on—and stay on—the right track
Looking to maximize your savings no matter how much you set aside? Ready to give your children a financial head start? From your first dollar, our Cultivate and Vault youth savings accounts deliver exceptional annual percentage yields (APY)—well above the national average of 0.6%. Storing your money in Cultivate or Vault is a great way for you and your children to build your savings quickly.
Cultivate: High yields, worry-free banking
With great rates on balances large or small, with no special requirements, Cultivate is designed to rapidly boost your savings without the hassle. Here are some highlights:
- Earn our best available savings rates all the way up to $49,999 (with some bonus opportunities thrown in):
- Enjoy 5.00% APY on your balance up to $1,000.
- Once you hit the $1,000 threshold, earn 3.50% APY on entire balances up to $49,999 (two 0.25% bonus opportunities available)
- There are no fees, zero transaction limits, or required minimum balances. No need to squint to read the fine print.
- Pay yourself back by pairing Cultivate with Link Digital Checking. Enjoy faster savings with round-up matches, checking rewards, and no monthly or overdraft fees.
- Use SELCO’s digital banking app to make mobile deposits or transfers to Cultivate from another account, set savings goals, and more.
Vault: Building money skills
It’s never too early to develop a solid financial acumen, and our Vault program offers multiple ways to help children and teens level up their financial game.
- Fast-tracking your savings. With Vault youth savings, the first $1,000 deposited grows at exceptional rates (5% on the first $500, 3% on the next $500). Once your $1,000 nest egg is established, additional balances grow at the Simple Savings account rates.
- A robust educational hub. Visit our Youth Hub to discover age-specific videos, articles, and exercises to help you support your child’s financial learning.
- Quarterly drawings for the chance to win $250. Every deposit of $10 or more earns an automatic entry. That means the more often your child saves, the more chances they have to pad their savings further.
- Perks for teens. Vault is designed to grow with your child, with access to additional benefits as they age, including digital banking, a debit card, and checking accounts.
Ready to open a Cultivate account? Here’s how in digital banking (here’s a shortcut that will take you straight to the application page after logging in). To open a Vault account for your child, bring a photo ID (current student IDs are fine) to any branch to get started.
