A typical savings account comes with between 1 and 3 percent interest with a minimum balance.

However, a group of local women has set up a different kind of account. There is more risk, but in their case, there is more reward. In fact, they've earned more than five times what they would have if they had put their money in a savings account.

As part of KOCO's Money Week, Eyewitness News 5 talked with these investors, learning the secrets to their financial success.

"I've learned a tremendous amount about investing," said Sue Halpain, a music teacher and the club president.

"We are piano teachers and retired teachers and stay-at-home moms -- and none of us are financial geniuses," said Michelle Schaefer, an insurance agent and club member.

Their club is called the Women for Financial Independence Investment Club. Each month, over a meal, they talk stocks, dividends, ratios and bottom lines.

"It is slow and steady. It's not a get-rich-quick overnight thing," Schaefer said.

Each member invests a minimum of $30 per month and researches one stock for the group.

"It's a good way to start with a little amount and have it grow," said Susan Fletcher, a retired nurse and the club's treasurer.

"You want to look for stocks, companies with potential to grow," Schaefer said.

Most of the women didn't know anything about investing until they joined the club.

"It makes you feel more competent with your money. It also has made money for me, but mostly it has taught me about money language," said Joyce Foss, the club's vice president.

Foss is in charge of educating the other members. She's an original member of the club, having invested her money with the group for 14 years.

Setting up an investment club is something anybody can do. These women did not know each other before organizing the group. They said they set it up through the National Association of Investors, Corp.