Ellafi Federal Credit Union savings accounts are suited to all of life’s needs.
Our savings accounts are a great option for those looking for high yields, competitive interest rates and low minimum balances. Ellafi Federal Credit Union savings accounts also have low monthly maintenance fees and in some cases no fees at all. Online banking and mobile banking is available for all accounts which allows you to conveniently access your savings account and make transactions from anywhere, at any time. View our CT savings account options and find the right account to fit your life and needs, including accounts designed to function as a high yield savings account in CT for members who want to grow their savings faster.
- primary savings
Enjoy competitive dividends on your entire balance.
Learn More - Money Market Accounts
The more you save, the more interest you’ll earn.
Learn More - Certificates
Get the options you need to help your money start making money.
Learn More - Club Accounts
Save for life events, vacation, or the holidays year-round.
Learn More - HSA
Save for unexpected medical expenses with competitive dividends.
Learn More - IRA
Turn your retirement goals into concrete plans.
Learn More - saplings savings
Get on the right path to financial success early—this account is available exclusively to our youngest members, ages 17 and under.
Learn More
Ellafi Federal Credit Union Savings Account Benefits
- Free rewards checking accounts
- Visa® credit cards
- Free online banking
- Free mobile banking
- Free eStatements
- Financial counseling
- Access to all of our financial products and services
- $5.00 minimum deposit to open and maintain credit union membership
Make an appointment with our team in the branches!
Do you have questions about your account? Do you need to apply for a loan or a CT savings account?
If you schedule an appointment online, you can choose the time and date that works best for your schedule to come into our Meriden or Middletown, CT branch. You can avoid waiting in the lobby when you need financial help.
Compare CT Savings Accounts
| Primary Savings Account | Saplings Savings Account | |
|---|---|---|
| Annual Percentage Yield (APY) | 0% APY* | 0.15% APY* |
| Monthly Service Fee** | $5.50 Low Balance Fee** | $0 |
| Age | 18+ years | 0 – 17 years |
| Free Online & Mobile Banking*** | ✔ | ✔ |
| Free Online Statements | ✔ | ✔ |
| Automated Voiceline Banking | ✔ | ✔ |
| Direct Deposit Available | ✔ | ✔ |
*APY = Annual Percentage Yield. Current rates are fixed. APY accurate as of September 2, 2025. Available to members 0–17 years of age. Fees may reduce earnings. Rates and terms subject to change at any time without notice. See Schedule of Fees and Account Terms for full details.
**All accounts maintaining an aggregate average daily balance of less than $350.00 during the month will be assessed a Low Balance Fee of $5.50/Month. Avoid a Low Balance Fee* with any of the following attributes: Accounts open for less than 90 days, Account holders with a Saplings Savings, Any open loans, Under age 18 (primary account holder), Open Active Share Draft account, Closed loans within the last 9 months, EFT deposit within the last 2 months, ACH payroll deposit within the last 2 months or Payroll Deposit.
***Standard message and data rates may apply. Refer to your communications service provider. Other restrictions apply.
Savings Accounts - FAQs
What savings accounts does Ellafi offer?
Ellafi offers a variety of savings accounts designed to help members build financial security and reach their savings goals. Options include Share Savings Accounts, Money Market Accounts, Vacation Club Accounts, Youth Savings Accounts, Health Savings Accounts (HSAs), Individual Retirement Accounts (IRAs), and certificate accounts, providing flexible ways to save for both short- and long-term financial needs.
What is an Ellafi savings account?
An Ellafi savings account is a secure credit union account that helps you save money while earning dividends on your balance. Whether you’re building an emergency fund, saving for a future purchase, or working toward long-term financial goals, Ellafi offers savings options designed to support your financial journey.
Who can open an Ellafi savings account?
Anyone who meets Ellafi’s membership eligibility requirements can open a savings account. Opening a Share Savings Account establishes your membership with the credit union and gives you access to additional banking products and services designed to support your financial goals.
Are Ellafi savings accounts only for women?
No. While Ellafi is committed to empowering women financially, membership and savings accounts are available to all eligible individuals who qualify. Everyone can take advantage of Ellafi’s credit union savings accounts, financial education resources, and member-focused services.
How do I open a savings account with Ellafi?
You can open a savings account by becoming an Ellafi member and completing an application online or at one of our Connecticut branches. Once your membership is established, you can select the savings account option that best fits your financial goals.
What do I need to open a savings account?
To open a savings account, you’ll need to meet Ellafi’s membership requirements, provide a valid government-issued ID, your Social Security number or Tax ID, and any required opening deposit. Additional documentation may be requested during the application process.
What are the benefits of an Ellafi savings account?
Ellafi savings accounts offer competitive dividend rates, federally insured deposits, convenient online and mobile banking, and a variety of account options to help you reach your financial goals. As a member-owned credit union, Ellafi also provides personalized service and financial education to support your long-term financial success.
How do I access and manage my savings account?
You can manage your savings account anytime through Ellafi’s online banking and mobile banking services. Easily view balances, transfer funds, monitor transactions, set account alerts, and access your account 24/7 from anywhere.
What makes Ellafi savings accounts different from traditional bank accounts?
Because Ellafi is a member-owned credit union, its savings accounts are designed to put members first. You’ll benefit from competitive dividend rates, personalized service, financial education, and savings products focused on helping you build lasting financial wellness.
Open a savings account with Ellafi today!
Ready to start saving toward your financial goals? Our team is here to help you explore savings account options and find the right solution for your needs.
Whether you’re building an emergency fund, planning for the future, or looking for a better way to manage your money, Ellafi provides convenient savings solutions with the personalized support you expect from a Connecticut credit union.