On May 2, Belco Community Credit Union introduced the first pet savings account in PA.
Belco’s Critter Club is aimed at pet owners looking for a fun way to save for their pets’ medical bills and other expenses, this new savings account features no minimum balance requirement and easy access to funds. A $5 membership account at Belco is required to open a Critter Club account.
Prior to launching the product, Belco employees researched the increase in pet spending. They found that 63 percent of homeowners have one or more pets, and that pet spending has more than doubled in the past 10 years. Currently, Belco is the only area financial institution offering a savings account exclusively for pets.
Members with a Critter Club account will receive discounts at local “pet partners” as well as be entered into a monthly prize drawing when they deposit $75 or more. Members may choose to have funds deposited via automatic transfer, and funds are available for withdraw at any time.
The account currently pays 0.85 percent APY on balances of $5 or more. Belco members with more than one pet are encouraged to open multiple accounts and to “name” each account using their pets’ names.
To promote the pet club, Belco is planning to participate in several pet-related community events, starting with the Humane Society of Harrisburg Area’s 5K Run/Walk for Animals May 17 at the Wildwood Lake Sanctuary in Harrisburg.
Prior to receiving community charter approval in July 2005, Belco served a diverse group of over 700 partner companies and organizations. Belco is a community chartered credit union that is open to businesses and anyone who lives, works, worships, or attends school in Adams, Cumberland, Dauphin, Lancaster, Lebanon, Perry or York counties. Belco currently has more than 45,000 members and $264 million in assets.
For more information, visit Belco Community Credit Union on the web at www.belco.org or call (717) 232-3526 (Harrisburg Area) or (800) 642-4482 (all other areas).
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