Freedom Savings Account

Save while you borrow—smarter. Pelican’s Freedom Savings account earns dividends and unlocks ultra-low Share Pledge Loan rates, all with no fees or minimums. Grow your savings and cut loan costs at the same time.

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Unlock a lower rate on loan

Pelican's Freedom Savings account is a no-fee savings account that earns dividends and unlocks the lowest available rate on a Share Pledge Loan when held as collateral. It's one of the most practical ways to borrow and save at the same time.

Earn up to 0.25% APY on entire balance
No minimum opening deposit
Funds roll over to the following year at maturity
Open a Freedom Savings Account

How It Works

Make your savings work twice as hard

  1. 1

    Open a Freedom Savings Account

    Start by opening a Freedom Savings account. There's no minimum deposit required and no monthly fee.

  2. 2

    Build Your Balance

    Deposit funds and earn up to 0.25% APY on balances over $1,000. Your money is always yours and stays NCUA-insured.

  3. 3

    Use It as Collateral

    When you need a loan, pledge your Freedom Savings balance as collateral for a Share Pledge Loan. This unlocks Pelican's lowest available rate.

  4. 4

    Borrow & Keep Earning

    Savings earn dividends while your loan is active. The Share Pledge loan rate is 2.50% above the Freedom Savings dividend rate of 0.25%, resulting in a combined loan APR of 2.75%.

What You Get

Everything You Need, Nothing You Don’t

F­ree eStatements
Free digital banking through the MyPelican app
Dividends paid quarterly on balances over $1,000
Lowest available Share Pledge Loan rate when used as collateral
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why bank with pelican

Savings that fits how you actually live

A Pelican Savings Account gives you the essentials of everyday saving, without monthly fees or extra requirements.

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Earn up to 0.25% APY on higher balances

Balances over $1,000 earn up to 0.25% APY. Your money grows more as your balance grows.

Easy access when you need it

Make up to 3 fee-free withdrawals per month, with a $5 fee for each additional withdrawal.

No minimum to get started

There is no minimum opening deposit required. Start saving with any amount.

No monthly service fee

Your balance stays your balance, with no monthly cost to maintain the account.

No minimum balance requirement

You are not required to maintain a minimum balance. Your account stays open and accessible.

NCUA-insured up to $250,000

Pelican savings accounts are federally insured by the NCUA. Money Market accounts include Excess Share Insurance, providing up to $1,000,000 in coverage.

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Ready To Open An Account?

Your next chapter deserves a financial partner that puts you first. Whether you are leveling up everyday banking, growing savings that actually work for you, or locking in a rate for the long haul.

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An account for every goal

When you open your account, you become an owner, not a line item on someone else's earnings report.

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