Regular Savings
Saving is easy with SCCU
Every SCCU membership comes with a regular savings account. With an SCCU regular savings account, you're not only a member, but an owner of the credit union. You earn dividends on the first dollar of savings, and there are no monthly maintenance fees!
Product Features
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Establishes You as a Member-owner of Space Coast Credit Union
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Can be Used as an Overdraft Protection Source31
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Contactless Visa® Debit Card with 2Way Text Fraud Alerts
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Account Alerts to Monitor Activity
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Free Online Banking & Mobile Banking60
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Free Mobile Deposit29
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Offers Free ATM Transactions at Any of SCCU's Convenient Locations
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Schedule Auto Transfers to Make Saving Easy
- Free CALL-24 telephone banking
- Free Statements
| Minimum opening deposit |
$5 |
|---|---|
| Transaction limit |
None |
| Earns interest |
Yes |
| Minimum daily balance |
$5 |
| Monthly low balance fee |
None |
| Monthly service fee |
None |
| Requires an adult joint account holder |
No |
| Balance | Interest Rate | APY^ |
|---|---|---|
| $0 - $499.99 | 0.04% | 0.04% |
| $500 - $99,999.99 | 0.04% | 0.04% |
| $100,000 and over | 0.04% | 0.04% |
Minimum average daily balance required for some accounts. Rates are accurate as of the effective date displayed, and they are subject to change. The APY (Annual Percentage Yield) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period. Fees may reduce earnings on the account.
Frequently Asked Questions
Yes. Just as deposits made to traditional bank savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC), the deposits in your SCCU Share Savings account are insured to $250,000 by the National Credit Union Administration (NCUA).
There are no transaction limitations on your savings account at this time. As of April 24, 2020, the Federal Reserve Board temporarily suspended Reg D until further notice.
Yes. Your Share Savings account may be used as a source for overdraft protection on your checking account.
Yes. To set up direct deposit or learn more, visit your local branch location or contact us.
Establishing your membership is as easy as opening a Share Savings account! Enjoy all of the benefits of membership, including great rates, free services to help you manage your accounts and much more.
You may open an SCCU Share Savings account right now online, or get in touch with Express Services.
You can open a Space Coast Credit Union Share Savings account with just $5.00.
Opening your Share Savings account does more than give you a way to save—it also gives you access to a full range of services and benefits. You'll enjoy great rates on loans, deposits and credit cards, and simple application and approval processes. Our accounts offer the convenience of Online Banking and Mobile Banking, so you never have to wait for business hours to manage your money. Free ATM transactions at any of our locations, free online statements and free account alerts are just a few of the services we provide at no cost to you.
A Share Savings account—which may also be referred to as a primary share account or savings account—is a great way to save for your future. It's called "share" since our members each own one equal "share" of Space Coast Credit Union. Just $5, or one "share," is needed to keep the account open.
This account establishes your membership, and all members have one. Your SCCU Share Savings account offers these benefits and more:
- You earn monthly dividends on your account balance
- You can easily access your Share Savings account funds with a free Visa ATM card
- Your membership includes free Mobile Banking, Online Banking, online statements, and alerts that keep you up-to-the-minute on account activity
The main difference between the accounts is the difference between the financial institutions themselves: Credit unions are not-for-profit organizations while banks are for-profit. Both make loans, accept deposits, and offer other similar services, but a bank's purpose is to make money for stockholders and a credit union's purpose is to return its profits to its members (who own the credit union).
This difference in purpose means that credit unions typically offer better rates on both borrowing and saving.
Both types of accounts provide ways for you to save for the future and include benefits such as a free Visa debit/ATM card for accessing your funds, but there are a few differences.
A Share Savings account is our primary account, and is required for membership. In order to open a Money Market Savings account, you will need to open a Share Savings account first. Our Share Savings account earns dividends, and can be established with a $5.00 minimum opening deposit. SCCU's Money Market account has many of the same features as a share account, but it earns a higher rate of interest on your funds and requires a $2,500 minimum opening deposit.
In addition to Share Savings, our primary membership account, our members can take advantage of a range of accounts that earn dividends or interest based on deposit amounts, including:
SCCU also offers Individual Retirement Accounts (IRAs) and Certificates of Deposit (CDs).
Membership in Space Coast Credit Union—which is established by opening a Share Savings account—is open to anyone who lives or works in one of these Florida counties.