Do you have a Savings Goal?
Reach your goals more easily with an Automatic Savings Account
We likely all have something we’re saving for – be it a new car, college education or a dream vacation. Research shows the more specific you are with setting a target goal amount and determining scheduled payments the more likely you are to achieve that goal. According to Dartmouth economist Jonathan Zinman, “(Americans) simply can’t pay consistent attention to future goals when we’re bombarded with daily distractions. While we may think our inability to save is due to lack of will power, it’s actually a more nuanced problem of being able to focus today on our goal for tomorrow.”
Establishing a goal-based savings account is a simple solution to this problem. Citizens National Bank offers an Automatic Savings Account. Anyone with a Citizens National Bank checking account may open one. It requires a $50 per month direct deposit or automatic transfer from the checking account to qualify for the current 6 month intro rate of .35% APY on balances of $250 or greater.* According to Margaret Thompson, APV/Branch Operations, “By setting up the automatic transfer customers don’t have to remember to add to their savings account. Additionally, the account can easily be nicknamed within Online Banking and the nickname can be changed as they reach their goal for one thing and want to work on another. Text and email alerts can also be set up to remind the customer when deposits have posted to their savings account reminding them that they’re one step closer to achieving their goal. And with the premium intro rate, they’ll reach their goals even faster.”
To learn more about the benefits of Automatic Savings visit any branch location or simply apply online from within Online Banking. Choose the Other Services tab, under Open a Deposit Account Online, choose Savings Account. Complete the online application and a CNB representative will contact you.