When you open a savings account with SCCU, you don't just get a great rate and peace of mind - you also become an owner of SCCU, with a say in how we do business. 

Truth in Savings: Deposit Wisely

Not all savings accounts are created equal. Account fees, dividend/interest rates, and services may vary from one institution to another. But comparing accounts is possible thanks to Truth in Savings (TIS) legislation, which requires financial institutions to disclose all account terms and conditions. And that includes fees, minimum balance requirements, and annual percentage yield (APY) - information you need to start shopping.

APY gives you a good picture of your potential earnings based on dividend or interest rate and frequency of compounding. APY is the amount of money you'd earn on $100 - if the money stays there for a full 365-day year. So if the advertised APY is 2.5%, that means you'd earn $2.50 annually for every $100 on deposit.

APY, along with answers to the following questions, can help you do and apples-to-apples rate comparison:
  • What is the minimum balance required to earn dividends/interest?
  • Are tiered rates offered? (Tiered rates apply to different balance amounts. For example, balances up to $10,000 or less may earn 1.00% and balances more than $10,000 may earn 1.25%.)
  • When does your money start earning dividends or interest? (If an institution pays the day you deposit money into your account, you're earning on your ledger balance. If it waits until a deposited share draft or check clears before it starts paying, you're earning on your collected balance.)
  • How often is the interest compounded? (Accounts commonly compound on a quarterly or monthly basis.)
As far as fees go, check for these common charges:
  • Is there a charge if your balance falls below a required minimum?
  • Is there a fee for closing the savings account soon after it's opened?
  • Is there a monthly maintenance fee?
You can see our fee schedule here.
 

Prime Share

With a $25 deposit, the Prime Share account establishes membership with Scenic Community Credit Union.

  • No service charge
  • Balance earns a competitive dividend rate
  • $25 minimum balance requirement

Money Manager

The SCCU Money Manager account offers the benefit of a higher dividend rate without locking your money in for a set time.
  • $2,500 minimum balance requirement to avoid $15 monthly service fee
  • 6 total transactions per month ($3 per transaction thereafter)
  • 3 checks may be written per month (minimum $500 per check)
  • Minimum withdrawal of $500 ($5 per withdrawal below $500)

Special Savings

A Special Savings account is a great way to save for specific things like vacation, insurance, taxes, or emergencies. Use payroll deduction to make automatic deposits to this account and watch your savings grow!
  • Pays same dividend rate as the Prime Share
  • No minimum balance
  • No limit on withdrawals

Christmas Club

Use a Christmas Club account to keep your budget on track during the holidays!

  • Works just like the Special Savings account
  • Withdraw funds anytime (not just during the holiday season)
  • Pays same dividend rate as Prime Share
  • No minimum balance
  • No limit on withdrawals

Share Certificates

Share Certificates are perfect for members who want to maximize their earnings by investing for a determined period of time - from 3 months to 3 years. Our Share Certificates offer high yield returns and total security.

  • For accounts less than two years: minimum deposit and balance is $2,500
  • For accounts two years or more: minimum deposit and balance is $500