The right account should be affordable, accessible and safe. State Employees' Credit
Union (SECU) offers deposit accounts with competitive rates, convenient access and
federal insurance protection.
Share
To establish membership
with State Employees' Credit Union, an individual is required to open a Share
account with a $25 minimum opening deposit. A savings account that offers competitive interest
rates and federal insurance protection, the share account is the foundation of a healthy savings plan.
Checking
Checking services at SECU offer quality, convenience and affordability. An SECU
checking account earns dividends that are compounded daily and paid monthly. There is no minimum
balance requirement and the monthly maintenance fee is only $1.
Money Market Share
SECU's Money Market Share account is
an insured account that offers money market rates with maximum accessibility. Deposits
and withdrawals may be made anytime with no maturity date restrictions. The minimum
deposit to open an SECU money market share account is $250.
Individual Retirement Account (IRA)
State Employees' Credit Union offers an Individual
Retirement Account (IRA) to assist you in retirement planning. Three types of IRAs
are available: Roth, Traditional and Simplified Employee Pension (SEP).
Share Term Certificate (STC)
Members have the opportunity to earn interest on their savings at a higher rate with
Share Term Certificates (STC), also known as a CD
or certificate of deposit. The minimum deposit to open a STC is $250.
Coverdell Education Savings Account (CESA)
State Employees' Credit Union offers the Coverdell
Education Savings Account (CESA) as a method of saving for elementary, secondary and
higher education expenses. The minimum deposit to open a CESA is $25. Earnings grow
tax-deferred and are tax-free when withdrawn to pay qualified educational expenses.
Health Savings Account(HSA)
A Health Savings Account (HSA) is a
tax-deductible savings account with tax-free withdrawals for qualified medical expenses.
There is no minimum balance required to open a HSA.
Holiday Cash Club Account
Our Holiday Cash Club account allows our
members to save money throughout the year in anticipation of holiday shopping! Deposits
can be made to the account through October. On the last business day in October, the balance
of this account will be automatically transferred to the checking, share or money market share
account specified by the member. There is no minimum balance required to open a Holiday Cash Club
Account.
Summer Cash Account
The Summer Cash Program is available to public
school system and community college employees who are not paid on a 12-month basis to save for
summer funds. A portion determined by the member is transferred from the member's paycheck to the
Summer Cash account by Payroll Deduction or Funds Transfer. There is no minimum deposit required
to open a Summer Cash Account.
Life Stages
Fat Cat
In an effort to help children learn about saving and make it exciting, the
Credit Union offers the Fat Cat program
for children up to age 12. This program consists of a quarterly newsletter, web site
and a special Fat Cat Share account that gives children access to watch their balance
grow as they save.
Zard
In the effort of continuing to educate our youth on financial responsibility, State
Employees' Credit Union offers members ages 13-19 the opportunity to participate
in our Zard program for teens. Focused on helping
teens develop solid money management skills, the Zard program offers teens a variety of
products and services tailored to meet their needs.
Off to College/Off to Work
State Employees' Credit Union offers the Off
to College/Off to Work program to members 18-25 who are entering the work force or beginning
their college years.
Golden Circle Club
State Employees' Credit Union offers members age 50 and older the opportunity to participate
in our Golden Circle Club. This program has
combined several popular services into one package that is tailored to meet the needs of our
membership.
