{"id":1486,"date":"2024-08-01T11:31:11","date_gmt":"2024-08-01T11:31:08","guid":{"rendered":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/savings\/"},"modified":"2024-10-03T19:24:02","modified_gmt":"2024-10-03T19:24:02","slug":"savings","status":"publish","type":"page","link":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/","title":{"rendered":"Savings"},"content":{"rendered":"\n<section class=\"hero hero-position-1\">\n    <div class=\"container\">\n        <div class=\"hero-slider\">\n            <div class=\"hero-container image-right\"><div class=\"left\">                                                        <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/themes\/alerus\/img\/swoosh.svg\" alt=\"alerus image accent\" class=\"hero-swoosh\">\n                            \n                        <h1>No matter the goal, there&#8217;s a savings plan for you.<\/h1>\n                                                <p>A vacation. College. That ski villa out west. No matter what you\u2019re saving for, we\u2019re here to guide you toward a plan that will help you achieve your dreams.<\/p>\n                         \n                    <\/div>                        <div class=\"right\">\n                            <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/09\/GettyImages-2065808904-Hero01.jpg\" alt=\"Gettyimages 2065808904 Hero01\">\n                        <\/div>\n                    <\/div>        <\/div>\n            <\/div>\n<\/section>\n\n\n<section class=\"breadcrumbs\">\n    <div class=\"container breadcrumbWrapper\">\n        <p id=\"breadcrumbs\"><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><span class=\"last\">Home<\/span><\/p><\/nav><\/p>    <\/div>\n<\/section>\n\n\n<section class=\"icons notop\">\n    <div class=\"container\">\n        <a class=\"icon-card\" href=\"#savings\" target=\"\">                   \n                    <div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/plugins\/acf-image-select-field-main\/assets\/savings.svg\" alt=\"Savings icon\"><\/div>\n                                            <div class=\"content\">\n                            <h3>Savings<\/h3>\n                        <\/div>\n                        <\/a>            <a class=\"icon-card\" href=\"#moneymarket\" target=\"\">                   \n                    <div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/08\/Money-Market-IconF.png\" alt=\"Money Market Iconf\"><\/div>\n                                            <div class=\"content\">\n                            <h3>Money Market<\/h3>\n                        <\/div>\n                        <\/a>            <a class=\"icon-card\" href=\"#cd\" target=\"\">                   \n                    <div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/08\/CD-IconF.png\" alt=\"Cd Iconf\"><\/div>\n                                            <div class=\"content\">\n                            <h3>CDs<\/h3>\n                        <\/div>\n                        <\/a>            <a class=\"icon-card\" href=\"#retirement\" target=\"\">                   \n                    <div class=\"icon\"><img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/plugins\/acf-image-select-field-main\/assets\/retirement.svg\" alt=\"Retirement icon\"><\/div>\n                                            <div class=\"content\">\n                            <h3>Retirement<\/h3>\n                        <\/div>\n                        <\/a>                <\/div>\n<\/section>\n\n<section class=\"general one-column default notop nobottom\">\n    <div class=\"container\">\n        <div class=\"column\"><div class=\"module\"><h2 style=\"text-align: center;\">Make the most of your money.<\/h2>\n<p>If you find it difficult to meet your savings goals while meeting your everyday financial needs, you aren\u2019t alone. We offer a variety of savings options that put your money to work for you.<\/p>\n<\/div><\/div>    <\/div>\n<\/section>\n\n\n\n<section id=\"savings\" class=\"cta image-orientation-left\">\n    <div class=\"container\">\n        <div class=\"left\">\n            <h3>Savings Accounts<\/h3>\n<p>Our savings accounts make building your savings easy and rewarding.<\/p>\n<ul class=\"checklist\" style=\"columns: 1;\">\n<li>Competitive interest rates<\/li>\n<li>Unlimited withdrawals and transfers<sup>1<\/sup><\/li>\n<li>Easy access to your funds<\/li>\n<li>Convenient online and mobile banking<sup>2<\/sup><\/li>\n<\/ul>\n\n                            <div class=\"buttons\">\n                                            <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/personal-savings-accounts\/\" target=\"\"><span>Learn more<\/span><\/a>\n                                                                <a class=\"btn secondary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/rates\/\" target=\"\"><span>View rates<\/span><\/a>\n                                    <\/div>\n                    <\/div>\n                    <div class=\"right\">\n                <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2019\/12\/GettyImages-1280155654.jpg\" alt=\"Financial Planning Family Mother Father And Children With Piggy Bank At Home\" class=\"cta-img\">\n            <\/div>\n            <\/div>\n<\/section>\n\n\n<section id=\"moneymarket\" class=\"cta image-orientation-right\">\n    <div class=\"container\">\n        <div class=\"left\">\n            <h3>Money Market Accounts<\/h3>\n<p>Maximize your savings with higher interest rates and added flexibility.<\/p>\n<ul class=\"checklist\" style=\"columns: 1;\">\n<li>Higher interest rates<\/li>\n<li>Check-writing privileges<\/li>\n<li>Tiered rates for higher balances<\/li>\n<li>Easy management through online and mobile banking<sup>2<\/sup><\/li>\n<\/ul>\n\n                            <div class=\"buttons\">\n                                            <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/money-market\/\" target=\"\"><span>Learn more<\/span><\/a>\n                                                                <a class=\"btn secondary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/rates\/#checking\" target=\"\"><span>View rates<\/span><\/a>\n                                    <\/div>\n                    <\/div>\n                    <div class=\"right\">\n                <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/09\/GettyImages-1465289648-Text-Image-Split.jpg\" alt=\"Gettyimages 1465289648 Text Image Split\" class=\"cta-img\">\n            <\/div>\n            <\/div>\n<\/section>\n\n\n<section id=\"cd\" class=\"cta image-orientation-left\">\n    <div class=\"container\">\n        <div class=\"left\">\n            <h3>Certificate of Deposit (CD)<\/h3>\n<p>Grow your savings with fixed interest rates and flexible term options.<\/p>\n<ul class=\"checklist\" style=\"columns: 1;\">\n<li>Fixed interest rates<\/li>\n<li>Terms from three months to seven years<\/li>\n<li>Flexible CD option<\/li>\n<li>Higher returns for longer terms<\/li>\n<li>FDIC insured for peace of mind<\/li>\n<\/ul>\n\n                            <div class=\"buttons\">\n                                            <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/cd\/\" target=\"\"><span>Learn more<\/span><\/a>\n                                                                <a class=\"btn secondary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/rates#CD\" target=\"\"><span>View rates<\/span><\/a>\n                                    <\/div>\n                    <\/div>\n                    <div class=\"right\">\n                <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/09\/GettyImages-1869989923-Text-Image-Split.jpg\" alt=\"Gettyimages 1869989923 Text Image Split\" class=\"cta-img\">\n            <\/div>\n            <\/div>\n<\/section>\n\n\n<section id=\"retirement\" class=\"cta image-orientation-right\">\n    <div class=\"container\">\n        <div class=\"left\">\n            <h3>Retirement Accounts<sup>3<\/sup><\/h3>\n<p>Our\u00a0financial advisors can help you determine the best ways to fund your retirement or manage your investments.<\/p>\n<ul class=\"checklist\" style=\"columns: 1;\">\n<li>Traditional and Roth IRAs<\/li>\n<li>Tax-advantaged growth<\/li>\n<li>Expert financial advice<\/li>\n<\/ul>\n\n                            <div class=\"buttons\">\n                                            <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/retirement\/\" target=\"\"><span>Learn more<\/span><\/a>\n                                                                <a class=\"btn secondary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/rates#CD\" target=\"\"><span>View rates<\/span><\/a>\n                                    <\/div>\n                    <\/div>\n                    <div class=\"right\">\n                <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/uploads\/2024\/09\/GettyImages-1717120928-Text-Image-Split.jpg\" alt=\"Gettyimages 1717120928 Text Image Split\" class=\"cta-img\">\n            <\/div>\n            <\/div>\n<\/section>\n\n\n<section class=\"accordion\">\n    <div class=\"container\">\n        <div class=\"intro\"><h2 style=\"text-align: center;\">Frequently Asked Questions<\/h2>\n<\/div>     \n        <div class=\"accordionItems  accordion-padding\" id=\"accordionItems-1\">\n            \n                    <div class=\"accordionItem\"><div class=\"accordionTitle accordionTitle-1\" id=\"accordionTitle-1-1\"><span>What are the differences between a savings account, money market account, and CD?<\/span><\/div>\n                    <div class=\"accordionCopy accordionCopy-1\" id=\"accordionCopy-1-1\"><p>A savings account, money market account, and Certificate of Deposit (CD) are all great options for saving your money, but they each serve different purposes and come with unique features.<\/p>\n<ul>\n<li><span style=\"color: #297894;\"><a style=\"color: #297894;\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/personal-savings-accounts\/\"><strong>Savings Account:<\/strong> <\/a><\/span>A savings account is a basic deposit account that allows you to earn interest on money you save while keeping your funds easily accessible. There are typically no restrictions on the number of deposits you can make. Savings accounts usually offer lower interest rate compared to other savings options, but they provide flexibility for the day-to-day needs.<\/li>\n<li><span style=\"color: #297894;\"><a style=\"color: #297894;\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/money-market\/\"><strong>Money Market Accounts:<\/strong><\/a><\/span> A money market account combines the benefits of a savings account with some features of a checking account. It generally offers a higher interest rate than a regular savings account, especially if your balance grows. There may be a limit on the number of withdrawals or transfers each month.<\/li>\n<li><a href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/cd\/\"><span style=\"color: #297894;\"><strong>Certificate of Deposit (CD):<\/strong> <\/span><\/a>A CD is a time deposit account that offers a fixed interest rate for a specified term, which can range from a few months to several years. CDs typically offer higher interest rates than both savings and money market accounts, but in exchange, your money is locked in for the term of the CD. Withdrawing funds before the CD matures usually incurs a penalty, making CDs a good option for those who want to earn a higher return and don&#8217;t need immediate access to their funds.<\/li>\n<\/ul>\n<\/div><\/div>\n                \n                    <div class=\"accordionItem\"><div class=\"accordionTitle accordionTitle-1\" id=\"accordionTitle-2-1\"><span>How do I open a savings account? <\/span><\/div>\n                    <div class=\"accordionCopy accordionCopy-1\" id=\"accordionCopy-2-1\"><p>You can open a savings account by visiting any <span style=\"color: #297894;\"><a style=\"color: #297894;\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/locations\/\">Alerus location<\/a><\/span>.<\/p>\n<\/div><\/div>\n                \n                    <div class=\"accordionItem\"><div class=\"accordionTitle accordionTitle-1\" id=\"accordionTitle-3-1\"><span>Is my money insured by the FDIC? <\/span><\/div>\n                    <div class=\"accordionCopy accordionCopy-1\" id=\"accordionCopy-3-1\"><p>Yes, all deposit accounts at Alerus are insured by the Federal Deposit Insurance Corporation (FDIC).<\/p>\n<\/div><\/div>\n                \n                    <div class=\"accordionItem\"><div class=\"accordionTitle accordionTitle-1\" id=\"accordionTitle-4-1\"><span>How often are interest rates for savings and money market accounts updated? <\/span><\/div>\n                    <div class=\"accordionCopy accordionCopy-1\" id=\"accordionCopy-4-1\"><p>Interest rates for savings and money market accounts at Alerus are variable and can be updated periodically based on market conditions. The rates are typically reviewed and adjusted as necessary to remain competitive and reflect changes in economic factors. You can check the rates at any time visiting our <span style=\"color: #297894;\"><a style=\"color: #297894;\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/personal\/banking\/savings\/rates\/\"><strong>rates page<\/strong><\/a><\/span> or<strong> <a href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/contact\/\"><span style=\"color: #297894;\">contacting an Alerus<\/span> <span style=\"color: #297894;\">advisor<\/span><\/a><\/strong><span style=\"color: #297894;\">.<\/span> Interest is usually calculated daily and credited to your account on a monthly basis.<\/p>\n<\/div><\/div>\n                        <\/div>\n    <\/div>\n<\/section>\n\n\n<section class=\"hero hero-position-2\">\n    <div class=\"container\">\n        <div class=\"hero-slider\">\n            <div class=\"hero-container blue\"><div class=\"content\">                                                        <img decoding=\"async\" src=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-content\/themes\/alerus\/img\/swoosh.svg\" alt=\"alerus image accent\" class=\"hero-swoosh\">\n                            \n                        <h1>Ready to get started? <\/h1>\n                                                                                                    <div class=\"buttons\">\n                                                                    <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/contact\/\" target=\"\">Contact us<\/a>\n                                                                                                    <a class=\"btn primary\" href=\"https:\/\/f9dc7fd910.nxcli.net\/alerus\/locations\/\" target=\"\">Visit a location near you<\/a>\n                                                            <\/div>\n                         \n                    <\/div><\/div>        <\/div>\n            <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":0,"parent":1698,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1486","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/pages\/1486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/comments?post=1486"}],"version-history":[{"count":155,"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/pages\/1486\/revisions"}],"predecessor-version":[{"id":37793,"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/pages\/1486\/revisions\/37793"}],"up":[{"embeddable":true,"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/pages\/1698"}],"wp:attachment":[{"href":"https:\/\/f9dc7fd910.nxcli.net\/alerus\/wp-json\/wp\/v2\/media?parent=1486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}