It’s always a great feeling to get a tax refund! There’s so much you can do with some extra cash on hand, from buying that special something you’ve had your eye on, to saving it or paying off debt.
We’d like to share a few things to consider if you receive a tax refund.
Direct Deposit
As of September 2025, the U.S. Treasury is no longer issuing paper checks for payments and tax refunds. This means most refunds are now paid through direct deposit into a checking or savings account. And we have some great news for SAFE members: we provide access to your tax refunds directly deposited into a SAFE account up to five days early!1
To directly deposit a tax refund into a SAFE account, be sure to use SAFE’s routing number 321173742. Members can find their account numbers in the SAFE Mobile App and Online Banking by going to the account and clicking on “Account Details.”
Learn more about SAFE Early Payday.
So Many Choices
There are a multitude of things to do with a tax refund. We’d like to share a few smart ideas that may help you with your finances.
Save It
- Whether you want to save it long-term or set it aside for a few months for an upcoming purchase, putting it in a savings account can be a good choice. You’ll earn dividends and the money will be close at hand.
- Start an emergency fund or add to an existing one. It’s helpful to have money set aside for life’s unexpected twists and turns.
- If you want to earn higher dividends and you don’t need the money right away, consider placing it in a SAFE certificate. We have term certificates with terms from 3 to 60 months, the Bump Up certificate that permits one rate increase during the term if one becomes available; and the Add On certificate in which members can add as much money as often as they’d like during the term.
- Open a money market account for higher dividends and easy access to the funds. SAFE’s Level Up Money Market earns the highest dividend rate for our money market accounts based on the daily balance.
Learn more about SAFE’s savings options.
Pay Down Debt
Give yourself some breathing space by paying down debt. From paying down credit card or student loan balances to making an extra mortgage or auto loan payment, paying down your debt could help your finances in the long run.
Splurge a Little
It’s important to have fun—and why not use a tax refund to live a little? Go shopping, have a night out, catch a game, a concert or a show.
But before you go, be sure to check out SAFE Shopping+ on the SAFE Mobile App. SAFE Shopping+ is a digital mall of sorts where SAFE members can purchase digital gift cards for all sorts of brands, stores, and restaurants.
But it’s more than a convenient place to easily buy digital gift cards. Members can get 1% to 30% cash back when they purchase gift cards. They can use the cash back to buy more gift cards or transfer those funds back into a SAFE savings or checking account. It’s a great way to get the most out of a tax refund!
Learn more about SAFE Shopping+
SAFE is Here to Help
If you’d like to learn more about ways to prepare for what’s next in your financial journey, we’re here to assist you! Consider scheduling an appointment with a SAFE expert to discuss how our products and services can get you on your way to building financial freedom.
Schedule an appointment today.
1 Early access to funds sent directly from the federal government may get paid up to 5 days early. Federal tax refund deposits are subject to Internal Revenue Service (IRS) timing and applies to federal tax returns filed directly with the IRS. Federal benefit payments, such as government payroll, pension, or other government benefits payment made through ACH may also be paid up to 5 days early. The United States Treasury Department requires federal benefit payments to be made electronically.
