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Savings Accounts
Cleveland Savers have access to these wonderful financial products and services. You, too, can access these products and services and much more, if you become a Cleveland Saver.
Below is a list of savings options provided by our participating financial institutions. Please take a moment to review each product offering for qualifications and criteria. Please read and follow access instructions and make note of the contact at each institution who can to assist you in chosing the most appropriate savings option. Please note that we do not have access to your savings account or other banking products. For questions concerning your account, please contact your financial institution directly.
AmTrust Bank
Point of contact: La'Shanya Moorer 216-588-5164 for more information, branch location and to set up appointment.
Access: If currently an AmTrust Bank customer, please call appropriate branch directly and speak to manager to establish account.
Passbook Savings: Open with $10 minimum balance, no monthly fee, no fees for deposits or withdrawals, interest compounded quarterly. Deposits recorded in passbook at branch; deposits may also be made by direct deposit from payroll (if employers offer that option) or through night drop box.
Statement Savings: Open with $10 minimum balance, no monthly fee, and no fees for deposits or withdrawals, interest compounded quarterly. Direct deposit available; periodic statements sent. ATM card may be tied to account.
** Two forms of ID required to open accounts. ChexSystems will be consulted on all accounts.
ARMADA Mutual Funds
Point of contact: Nat’l City Investments 216-222-2000
Access: call number above to arrange an appointment at a local branch or downtown location.
Mutual Fund: requires an initial investment of $50 with a minimum quarterly automatic (ACH or Direct Debit) investment of $50 per quarter from a checking, savings or credit union account. Or a $500 initial investment.
ARMADA also offers a No Annual Fee IRA account with the same initial investment options as outlined above.
Century Federal Credit Union
Point of contact: Visit Century Federal Credit Union
Access: No appointment necessary, credit union employees are aware of the Cleveland Saves account.
Cleveland Saves Savings Account no minimum balance required to earn dividends except for the $5.00 deposit to open the account and become a credit union member. Pays regular share savings account rate. No fees.
**Membership is available to anyone who is within our field of membership, which includes federal employees in the Cleveland area and select employee groups.
Charter One Bank
Point of contact: Donna Wells at 216.277.0495
Access: Call to identify a branch and set up an appointment for opening an account.
Personal Savings Account: Interest bearing, provides easy account access at branches and ATM’s, free estatements, no minimum balance to open and no monthly maintenance fee.
Chase Bank
Point of contact: Visit any Chase Bank Financial Center in Cuyahoga County
Access: No appointment necessary
Chase Savings Account: Open account with $25 minimum, no monthly service fee for the first 12 months, and no minimum balance required for the first 12 months. Free atm card, online banking, 4 free withdrawals utilizing a teller monthly, 6 free preauthorized withdrawals monthly.
**Two forms of valid I.D. required at account opening. **After the first 12 months, there will be a $300 minimum required daily to avoid a monthly $4.00 service fee.
Dollar Bank
Point of contact: Larry Slenczka 216-736-8909
Access: No appointment necessary, go to any branch and see manager on duty.
Cleveland Saves Passbook Account: Open account with a $25 minimum, no monthly minimum balance requirement, no monthly fees.
Eaton Family Credit Union, Inc.
Point of contact: Fred Siegel 216-383-9572, ext. 1001
Access: No appointment necessary, tellers are aware of Cleveland Saves and the products offered on its behalf.
Cleveland Savers: Open with a $5 minimum deposit required to be a member. No fees. Pays regular share savings account rate.
Cleveland Saves Certificate Builder: A special savings account to build up to the $500 minimum required for a certificate. Minimum deposit $25 with on-going monthly deposits. Pays 50 basis points over regular share savings account.
Traditional IRA or Roth IRA Savings Account: Open with $10 annual fee, unless depositing by a payroll deduction or ACH plan.
Faith Community United Credit Union, Inc.
Point of contact: Rita L. Haynes 216-271-7111 ext. 11
Access: No appointment necessary, tellers are aware of Cleveland Saves Certificate.
Cleveland Saves Certificate: A 12 month certificate of deposit (CD) paying 2.75% from $10 - $999. Minimum deposit $10 with on-going deposits. Penalty of 90 days interest for early withdrawal. This certificate will not rollover automatically.
Regular savings account of $50 for adults, $10 for youth. Credit union membership is available to anyone who lives, worships or works in Cuyahoga County.
Fifth Third Bank
Point of contact: Louise Gissendaner 216-274-5302
Access: No appointment necessary, go to any branch and mention that you are interested in opening the Goal Setter savings account or any other products offered.
Goal Setter Savings Account: This account offers no minimum deposit to open, no minimum balance requirement, a reward for meeting your goal, no monthly service fee.
**Other products offered are IDA Savings Accounts and ETA Savings Accounts.
FirstMerit Bank
Point of contact: Laura Smith 440-646-9164
Access: No appointment necessary, go to any branch office and see the Personal Banking Representative on duty.
First Merit Statement Savings Account: Basic statement savings account, $50 opening balance requirement waived, monthly minimum balance requirement waived for twelve months (normally $200).
First Merit Reality Savings Account: High yield savings account with no minimum balance requirement. Currently holding an APY of 3.25 / APR 3.194. Interest paid monthly. No maintenance fees when meeting requirement below.
**Does require an active First Merit checking account. Reality Checking features no non-First Merit atm fees, rewards program, free checks for life and free wire transfers. See branch for details.
Gibraltar Financial Services
Point of contact: Pamela Brannon 216-341-3145
Access: Call for appointment (can also open account via mail)
Money Market Account: No minimum to open, no minimum additional deposit ($25 per month minimum for automatic debit from a checking or savings account.)
Alger Mutual Funds: No minimum to open, no minimum or additional investments ($25 per month minimum for automatic debit from a checking or savings account.).
Greater Cleveland Fire Fighters Credit Union
Point of contact: Carol Merker 216-898-9471 ext. 203
Access: No appointment necessary, tellers are aware of the Cleveland Saves Certificate.
Cleveland Saves Certificate: Open a 12-month certificate of deposit (CD) paying 50 basis points over regular share savings account. Minimum deposit of $10.00, with ongoing deposits. Penalty of 90 days interest for early withdrawal. These certificates will not roll over automatically.
Huntington Bank
Point of contact: Dana Capers 216-515-6761
Access: No appointment necessary, go to any branch and see the branch manager on duty.
Regular savings account: Open with monthly balance requirement waived for twelve months for all participants, normally $300. No minimum opening deposit.
KeyBank
Point of contact: Colleen Eckert 216-828-9134
Access: Call to identify the branch closest to you.
The Key Saver Account: Basic statement savings account, $10 opening balance required, monthly low balance fee waived for first 18 months.
National City Bank
Point of contact: Visit any National City Branch
Access: No appointment necessary, go to any branch and mention that you are interested in opening a Cleveland Saves account.
Cleveland Saves Statement Savings: Open with no minimum balance, minimum balance fee waived for 18 months, 4 free withdrawals per month, tiered interest with larger balances.
Steel Valley Federal Credit Union
Point of contact: David Lawhun 216-741-9949 x108
Access: No appointment necessary, credit union employees are aware of the Cleveland Saves Program.
Regular Share Account: Open with $5 deposit, must have a balance of $50.00 within 6 months. No Fees.
Traditional or Roth IRA Savings Account: No annual fees. Only $5.00 to open with payroll deduction or ACH.
Third Federal Savings & Loan
Point of contact: Call either Lymarie Calderon or Karen Smith at 216-251-8200
Passbook Savings: Open with $10 minimum deposit, no monthly service charge, no fees for deposits or withdrawals, interest compounded quarterly, deposits recorded in passbook at branch, deposits accompanied with passbook may also be made anytime through night drop box. ATM access is not available.
High Yield Savings: Open with $10 minimum deposit, $50.00 minimum balance to earn interest, no monthly service charge, no fees for deposits or withdrawals, daily interest accrual, compounded and paid monthly, no transaction limits, online banking available, direct deposits available. This is high yield savings is a Statement Savings account with tiered rates.
**Two forms of ID required to open accounts. ChexSystems will be consulted, Rates subject to change. FDIC Insured.
US Bank
Point of contact: Patricia Ramsey 216-623-9222
Access: No appointment necessary, go to any branch and see manager on duty.
Standard Savings Account: No minimum to open account, no minimum balance, no minimum to earn interest, no monthly fee and quarterly account statement that can be linked to checking statement.
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