Youth Savings
Unlike other credit unions that charge a membership fee to join, we require only $5 in your savings account to secure your ownership share in the Credit Union and a $10 tax-deductible donation to the nonprofit we founded – the Center for Financial Empowerment. SCE FCU then matches every $10 donation and the funds are gifted directly to the financial education projects in our local communities.
Youth Savings
$5 minimum balance to open, pays dividends on balances of $250 or more, open to members under age 18.
Youth Super Saver
For those under age 18, this account makes it convenient and easy to save money. It pays higher dividends, allows unlimited deposits and four withdrawals per year penalty-free, and dividends are paid on the entire balance.
Basic Elements - Legal Text
Rate Table: Checking & Savings
| Dividend Rate7 | APY8 | Compounding | Minimum Balance | Minimum Deposit | |
|---|---|---|---|---|---|
| Rewards Checking | 0.30% | 0.30% | Monthly | $0 | |
| Free Checking | 0.00% | 0.00% | None | $0 | |
| Fresh Start Checking | 0.00% | 0.00% | None | $0 | |
| Teen Checking9 | 0.00% | 0.00% | None | $0 | |
| Prime Savings | 0.12% | 0.12% | Quarterly | $250 | $5 |
| Super Saver | 0.22% | 0.22% | Quarterly | $0 | |
| IRA Savings | 0.40% | 0.40% | Monthly | $0 | |
| Health Savings Checking | 0.05% | 0.05% | Monthly | $0 | $50 |
| Non-Dividend Savings | 0.00% | 0.00% | Monthly | $0 | |
| Youth Savings9 | 0.12% | 0.12% | Quarterly | $5 | |
| Youth Super Saver9 | 0.22% | 0.22% | Quarterly | $0 | |
| Holiday & Vacation Club10 | 0.22% | 0.22% | Monthly | $0 | $10 |
Rates shown effective as of January 2, 2020
7Dividends are calculated on the Daily Balance Method for all accounts. 8APY = Annual Percentage Yield, and is based on the assumption that requirements will be met. Your statement will show the actual Annual Percentage Yield Earned (APYE). This may be different from the APY if the conditions are different from the above assumptions. Early withdrawal is subject to penalty on all Certificates. For example, if there are any fees, they could reduce the earnings on the account. 9Open to members under the age of 18. 10One scheduled distribution per year on both the Holiday Club and Vacation Club accounts - November 1 and June 1, respectively. Both accounts carry an early withdrawal fee of $15.
