Savings growth calculator

See how an initial deposit plus monthly contributions grows at a given APY. Credit unions often pay higher savings APYs than big banks, which compounds into meaningfully more over time.

Balance after 5 years$15,669
You contributed$14,000
Interest earned$1,669
Extra vs a 0.5% bank APY$1,470

Frequently asked questions

How does APY grow my savings?

APY (annual percentage yield) is your rate including compounding. The higher the APY and the more often you contribute, the faster your balance grows — especially over many years.

Do credit unions have higher savings rates?

Often, yes. Because credit unions return profits to members, their deposit APYs tend to beat traditional banks, and small differences compound over time.

Estimates are for illustration only and assume monthly compounding; actual terms vary by credit union. Not financial advice.