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With our most flexible savings account, you have the freedom to use and move your money when you want. It’s perfect for short-term savings goals.
Watch your money grow faster with a higher interest rate, with fewer transactions.
To put away U.S. funds
A reserve fund is a savings account or similar highly liquid asset used to set aside funds by a business or organization to meet future costs or financial obligations. The funds set aside may be used to cover scheduled, routine, and unscheduled expenses that would otherwise be drawn from a general fund.
Although the fund size may vary, the typical goal is to deposit funds regularly in an account that accrues interest, thereby increasing the fund’s value while not in use. Because expenses may arise unexpectedly, a reserve fund is typically kept in a highly liquid account, such as a savings account.
KCCU has many options to keep your business or organization’s reserve funds separate, safe, and earning income.
Speak with one of our Account Managers for more information on how to set up your reserve fund.
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At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.
A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.
