Customized membership that lasts a lifetime...
We value your membership and want to be your financial partner for many years to come. To make the most of your membership, we have developed a special program that rewards you for increasing usage of Credit Union products and services.
Member benefits designed to last a lifetime...
Prime Savings
There's no easier way to save than in a Prime Savings Account at SCE FCU. The Prime Savings Account pays dividends immediately . The fee for a transfer from a Prime Savings Account is based on regulatory guidelines. This account is a great way to pay yourself first by having funds automatically deposited each month.
Account Features:
- $5 minimum balance to open
- Dividends are earned on balances of $250 or more
- Dividends are calculated daily and posted quarterly
- $5 monthly service fee is waived if you have an active SCE FCU loan, Visa or combined account balance of $250 or more
SuperSaver Club
Saving for a rainy day, an extended vacation, or any major expense that you need to plan for? Our Super Saver Club account is the perfect solution with an attractive interest rate and the convenience of saving through payroll deduction.
Account Features:
- No minimum balance to open
- Dividends are earned on entire balance
- Dividends are calculated daily and posted quarterly
- Two free withdrawals allowed per calendar year without penalty ($15 fee for each withdrawal thereafter)
Holiday Club
Our Holiday Club account makes it easy to save for the holidays. And... you can save money effortlessly with the convenience of Payroll Deduction or Direct Deposit.
Account Features:
- $10 minimum balance to open
- Dividends are earned on entire balance
- Dividends are calculated daily and posted monthly
- One automatic disbursement on November 1st
- $15 fee for an early withdrawal before annual distribution date
- Annual distribution will be transferred to a Checking or Money Market account, or a check will be mailed
Vacation Club
Open your Vacation Club account now... then sit back and relax. With the convenience of Payroll Deduction or Direct Deposit, you can add as much as you want to your account at any time. By vacation time you'll have the funds to go on your well-deserved vacation. Just tell us how much you'd like to save each month... we'll take care of the rest.
Account Features:
- $10 minimum required balance to open
- Dividends are earned on entire balance
- Dividends are calculated daily and posted monthly
- One automatic disbursement on June 1st
- $15 fee for an early withdrawal before annual distribution date
- Annual distribution will be transferred to a Checking or Money Market account, or a check will be mailed
- Statements are mailed quarterly
Share Certificates
When you're looking for steady growth and absolute security, our Certificates are an ideal solution. They are the solution if you want a higher return on your savings without the risk of other non-traditional investment accounts. Certificates produce excellent returns, yielding dividends that can compound or be transferred for your immediate use. Terms from 91 days to 60 months can be chosen with a minimum deposit of $1,000. Member Certificate accounts may be aggregated and are insured up to $100,000 through NCUA.
IRAs
SCE FCU offers a variety of secure investment alternatives for retirement or tax-deferred savings to meet your finanical needs, including the Traditional IRA, Roth IRA and the Coverdall Education Savings Account. Choose from a Variable IRA with no minumum or an IRA Certificate with a $1,000 minimum balance and terms from 12 to 60 months. IRA accounts are insured up to $250,000 through NCUA.
- Traditional IRA - The Traditional IRA gives you the ability to invest your pre-tax dollars, let your investment grow tax deferred until retirement.
- Roth IRA - The Roth IRA gives you the ability to invest your after-tax dollars today, let the investment grow tax-deferred, and withdraw your principal and earnings tax-free with a qualified distribution after five years.
- Coverdell Education Savings Account - A Coverdell Education Savings Account (formerly the Education IRA) provides an investment tool for the purpose of paying for the future cost of a child's post-secondary education. (IRA Certificates are not available on Coverdell Education Savings Accounts)
Money Market
As your savings account grows, you may want to consider SCE FCU's Premier Money Market account. This account allows immediate access to your funds by simply writing a check, or making an electronic transfer. You earn excellent dividend rates... and your dividend yield increases as your balance increases. The Premier Money Market Account is available with a minimum balance of $2,500, and offers even higher yields at $10,000, $25,000 and $50,000. Enjoy the security of a federally insured account, with high yields, while still maintaining full access to your funds.
Payroll Deduction
With Automatic Payroll Deduction, you decide how much money you'd like to set aside each month and we'll assist in making it happen. The money will be subtracted from your check and deposited into your pre-determined savings or checking account -- you'll never even know the difference. A partial check dispursement (i.e. payroll deducation) is dependent on your employer's payroll deducation policy.
Periodic Payments
Members can distribute a pre-set amount of funds, up to six (6) payments annually, from a Prime Savings, Checking or Money Market Account to anny account of their choice. This feature excludes payments to any SCE FCU loan.
Members can make up to three payments per month if the funds are coming out of their Prime Savings or Money Market Account(s). If the periodic payments are set up for distribution from an SCE FCU Checking Account, there is no limit. The amount distributed cannot fluctuate as the payroll deduction can.
