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News Now

CU System
Savings accounts for Fido Kitty offered at Belco
HARRISBURG, Pa. (5/6/08)--Now Kitty and Fido can have their own savings accounts at a credit union. Belco Community CU has introduced a pet savings account called "Belco's Critter Club." The Harrisburg-based credit union said it has the first pet savings account in Pennsylvania and it is the only area financial institution offering a savings account exclusively for pets. The accounts help pet owners save for Fido and Kitty's medical bills and other expenses. The account features no minimum balance requirements and funds are easily accessible, said Belco. Belco employees found out that 63% of homeowners surveyed have one or more pets, and that spending on pets has more than doubled in the past 19 years. Members of the Critter Club will receive discounts at local "pet partners" and will be entered for a monthly prize drawing when they deposit $75 or more. The account currently pays 0.85% annual percentage yield on balances of $5 or more. The credit union is encouraging members with more than one pet to open multiple accounts and to "name" each account using their pets' names. To promote the pet club, Belco will participate in several pet-related community events, starting with the Humane Society of Harrisburg Area's 5K Run/Walk for Animals on May 17.


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