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Goal-based savings made simple All Purpose Club Account

The Webster First All Purpose Club Account is a separate savings account designed to help members organize and save for specific financial goals like vacations, holidays, weddings, emergency expenses, or annual bills. Think of it as a dedicated savings bucket for your next big milestone or sinking funds. With no monthly fees and flexible access to funds, it’s an easy way to build savings without mixing goal money into everyday spending accounts. Open online and begin saving today!

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All Purpose Club Account Benefits

Earn on your deposits

This account is like a piggy bank that pays you. Earn dividends on all balances over $10. Plus, there are no monthly fees, which means your money stays yours.

Nearly 5,000 branches in our CO-OP Network

Get access to your account and unlimited free withdrawals at Webster First and our CO-OP Network partners.

Online & Mobile Banking

Check balances, track budgets, deposit checks, make loan payments, and more.

Your money is safe

All deposits are insured by NCUA up to at least $250,000, with additional amounts insured by MSIC.

Savings Rates

Type	Dividend Rate	APY²	Min Balance⁷
First Rate Savings	.05%	.05%	$1000.01+
	.05%	.05%	$5.00-$1000.00
All Purpose Club²⁰	.05%	.05%	$10.00

All rates subject to change without prior notice. Fees may reduce earnings for accounts where fees apply. Annual Percentage Yield accurate as of May 18, 2026.

Savings Goal Calculator

FAQs

What is an All Purpose Club Account?

An All Purpose Club Account is a separate savings account designed to help members save for specific goals or sinking funds such as vacations, holidays, weddings, emergency expenses, or annual bills. By separating funds from everyday checking or their primary savings, members can organize savings goals and track progress more easily, while avoiding accidentally dipping into those funds.

What is this account good for?

All Purpose Club is great for keeping separate savings buckets for expenses like

Christmas and holiday savings
Vacation funds
Wedding budgets
Tuition savings
Emergency reserves
Annual expenses
Car maintenance funds

Can I withdraw money at any time?

Yes!

Are there fees?

All Purpose Club has no maintenance fees.

Is this account insured?

Your deposits at Webster First are fully insured with amounts up to $250,000 covered by NCUA insurance and additional amounts covered by MSIC insurance.

Can I set up automated transfers?

If you have a payroll direct deposit from your employer, you could set up a portion of your paycheck to go into your All Purpose Club account every time that you get paid. You can also set up scheduled transfers from one Webster First account to another in online banking. If you’d like to set up automated transfers, please contact us (800) 962-4452.

Open Your Savings Account Today

Must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member to open. $1 minimum opening deposit.

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