There have been recent instances of fraudsters impersonating our fraud services department in an attempt to gain access to sensitive account information for the purpose of accessing members’ accounts. When doing so, the fraudster’s call may display the credit union’s phone number. Do not give out your account information including account history, email, phone number(s) without positively knowing who you are speaking to. When in doubt, HANG UP, and DIAL the Credit Union directly at 912-236-4400.
All Georgia Heritage FCU Branches and Call Center will be closed on Monday, October 9th for Columbus Day and Indigenous Peoples’ Day, and will reopen on Tuesday, October 10th.
Routing Number: 261271694
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Building Your Savings Account: How Much Should You Have Saved Up?

Oct 5, 2018

Building your savings account, especially for a rainy day, is important for both businesses and individuals.

There’s a heavy focus on the importance of building your savings account. An increasing number of people are realizing how necessary it is to have a “rainy day fund” to fall back on. Businesses, for example, know that they need a 10% “rainy day” or contingency fund that will cover 10% of their annual income. What does that look like for an individual? While you can always add more to your savings account, there are certain minimum amounts that you should always have handy.

Your Emergency Fund

Your emergency fund is the immediate resource for something you must pay for right now.  This fund is designed to help you pay for unexpected car repairs, to cover the cost of unanticipated medical bills, or to handle other emergencies. What goes in your emergency fund? In general, you’ll need at least $1,000 that you can access quickly if needed.

Your Long-Term Savings

Long-term savings allow you to handle the curve balls that life throws your way. Sudden job loss, natural disasters, and other unexpected expenses can all take a quick toll on your finances. Knowing that you have a solid savings account in place will ease some of the stress associated with this event and make it easier for you to take care of yourself and your family. Ideally, you want to have at least six months’ worth of expenses tucked away in your savings account. Calculate:

  • How much you spend on regular bills: your mortgage, your car payment, your utilities, and any other bills that you have to pay every month.
  • About how much you typically spend on food and gas in a given month.
  • A little wiggle room to allow for emergencies during that time.

You can also do an evaluation of how much you actually spend over a one-month or two-month period, and then adapt your savings account to be sure that it will support your family for at least six months if needed.

Tips on Building Your Savings Account

Is building your savings account a challenge? Try some of these key tips.

  • Set aside a little at the first of every paycheck. After a while, you won’t miss it!
  • Don’t link your savings account to your checking account. This makes it too easy to withdraw “a little here and there” when you shouldn’t.
  • Get in the habit of leaving your savings account alone. This money is for genuine emergencies, not “I need a new outfit for a big event” emergencies. Instead, save ahead for things you know you’re going to want or need.
  • Develop a budget. This will let you know how much money you really have to play with each month.
  • Track your spending. You may be surprised by how much money you actually spend in certain areas of your life.

Are you struggling to build your savings account? Do you need help managing your money? Contact us today to learn more about how we can help.


Contact us for additional tips about building your savings account.


Become a Member of GHFCU

Anyone who lives, works, worships, or attends school in Chatham, Effingham, or Bryan counties in Georgia and their immediate family members may gain membership to the Credit Union.

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