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When you become a member of SCCCU, you become part owner in all that we do.
For Your Information
Deposit Rates
Rates Effective as of 1/1/2012
Savings
| Account Name | Opening Balance | Interest Rate | APY* |
|---|---|---|---|
| Money Market | $50,000 and over | 0.15% | 0.15% |
| $49,999 - $10,000 | 0.10% | 0.10% | |
| $2,500 - $9,999 | 0.10% | 0.10% | |
| Regular Savings | $25 | 0.10% | 0.10% |
| IDA Savings | $50 | 0.10% | 0.10% |
For all accounts, dividends are paid from current and available earnings, after required transfers to reserves at the end of the dividend period. Fees or other conditions could reduce earnings on any of the accounts listed. For all Savings and Money Market Savings the prospective Dividend Rate and prospective Annual Percentage Yield are set forth above. The Dividend Rate and APY on Savings Accounts may change monthly as determined by the Board of Directors. The Dividend Rate and APY on Money Market Savings may change daily.
Individual Retirement Accounts
| Term | Opening Balance | Interest Rate | APY* |
|---|---|---|---|
| 6 Months** | $100 | 0.10% | 0.10% |
| 12 Months** | $100 | 0.15% | 0.15% |
| 12 Months | $1,000 | 0.25% | 0.25% |
| $10,000 | 0.25% | 0.25% | |
| 18 Months** | $100 | 0.25% | 0.25% |
| 24 Months** | $100 | 0.35% | 0.35% |
| 36 Months (Bump***) | $1,000 | 0.55% | 0.55% |
| 48 Months | $1,000 | 0.75% | 0.75% |
| $10,000 | 0.75% | 0.75 | |
| 60 Months | $1,000 | 0.75% | 0.75% |
| $10,000 | 0.75% | 0.75% |
The Dividend Rate and APY on IRA Accounts may change monthly as determined by the Board of Directors.
There is an early withdrawal penalty on IRA accounts.
* APY = Annual Percentage Yield
** For new money**** IRA deposits, receive a one-time 0.25% rate increase at the time of deposit if your account is opened with exclusively new money.
*** Bump Type: Rate may be changed once at member request during the term of the certificate to our current rate (for new certificates for the same term) effective on the day the member makes the request.
**** New money is money that is (1) not already on deposit at SCCCU, and (2)cannot be traced, directly or indirectly back to your SCCCU accounts within the last 120 days. Funds on deposit at SCCCU cannot be withdrawn and re-deposited to be considered new money. A 1-day grace period for new money applies (money deposited into another SCCCU account within 10 days prior to selecting a certificate will be considered new money).
