Why Building an Emergency Savings Matters —
And How MTC Federal Can Help

September 9th, 2025

Life has a way of throwing curveballs. Whether it’s a car repair, a medical bill, or a sudden job change, unexpected expenses often show up when we least expect them. For many households, these moments can lead to financial stress—especially if there isn’t a savings cushion to fall back on.

A recent Empower study found that more than 1 in 5 Americans have no emergency savings at all, and many would struggle to cover even a $500 expense. That’s why building an emergency fund has become one of the most important financial goals for today’s families.

Why Emergency Savings Are Essential

• Peace of Mind: Knowing you have a financial cushion helps reduce stress and anxiety about the “what ifs.”
• Avoiding Debt: Without savings, emergencies often get covered by high-interest credit cards or loans, making a tough situation even harder.
• Financial Confidence: A savings account builds long-term security and allows you to focus on future goals, not just unexpected expenses.

Most financial experts recommend starting small—aiming for just $500 to $1,000—and then gradually working toward three to six months of living expenses.

How MTC Federal Can Help You Save Smarter

At MTC Federal, we understand that saving isn’t always easy, especially with everyday expenses competing for your paycheck. That’s why we’ve created tools and products designed to help members build savings automatically and stay on track:

Savings Jar

Turn your everyday spending into a savings opportunity. With Savings Jar, every debit card purchase can be rounded up to the next dollar, with the difference automatically transferred into your savings. It’s an easy, “set it and forget it” way to grow your emergency fund without even thinking about it.

*Ready to activate this feature? Just log in to your digital banking account and enable Savings Jar under More Services. You can opt out at any time.

Share Savings Account

Your Share Savings is more than just your membership account—it’s the foundation of your financial security at MTC Federal. With a low minimum balance and competitive dividends, it’s a safe, accessible place to start building that emergency cushion.

Share Certificates

Once you’ve built a starter savings, put your money to work. Share Certificates offer higher dividend rates for set terms, helping you grow your savings faster while keeping your funds secure. They’re a smart way to separate emergency funds from everyday spending and ensure your savings continue to grow.

6% Cash Back Checking

Even your spending can help build your savings. With 6% Cash Back Checking, members can earn rewards on everyday purchases and move that cash directly into savings. It’s a simple way to accelerate your emergency fund without changing your lifestyle.

For Members Ready to Grow Beyond the Basics

If you’ve already built a strong emergency fund and want to get more out of your money, MTC Federal offers additional products designed to enhance your financial strategy:

• High Yield Checking & Savings – These accounts are designed to work hand in hand. By pairing a High Yield Checking Account with a High Yield Savings Account, members can enjoy some of the most competitive rates available while keeping their money accessible. This option rewards established savers by maximizing returns on both everyday spending and long-term balances.
• Money Market Accounts – A smart middle ground between traditional savings and longer-term certificates. Money Markets typically offer tiered dividend rates, meaning the more you save, the more you earn. They provide flexibility—your funds are accessible if needed—while still delivering stronger earnings than a basic savings account. This makes them ideal for members with larger balances who want higher returns without locking funds into a fixed term.

These options go beyond building an emergency fund—they’re about helping you maximize your financial potential. Terms & conditions apply, please visit the links above to see all details on these account options.

Take the First Step Today

Building an emergency fund doesn’t happen overnight—but it does happen when you have the right plan and the right tools. Whether you start with a few dollars a week or automate round-ups through Savings Jar, consistency is key.

At MTC Federal, we’re here to help you create financial peace of mind with simple savings solutions that fit your life.

➡️ Visit your nearest branch, log into digital banking, or talk with a Member Service Representative to get started today.