SFCU Savings Accounts

Regular Share Savings

A minimum balance of $50 is required to maintain an account and secure membership in the Credit Union. A minimum balance of $101 is required to earn dividends. Daily dividends are compounded and paid quarterly. Payroll Deduction or Direct Deposit can be used to make regular deposits. The first $250,000 of your deposit at Summit Federal is federally insured by NCUA. Click here for a full explanation of the NCUA insurance. To access NCUA's Electronic Share Insurance Calculator click here. To listen to what Suze Orman has to say about being NCUA-safe, click here. We also carry additional insurance for our members savings through ESI. ESI is a private insurance for savings in excess of $250,000 to $500,000. Start securing your financial future right now!

Club Savings Accounts

We have Club Accounts for every occasion. Set aside money for upcoming expenses, separate from your Savings Account. Club Accounts earn the same Daily Dividends as Regular Savings, and you can withdraw the money whenever you need it. A little each pay really adds up! Choose from a Christmas Club, Vacation Club, Education/Tuition Club, Tax Club, Insurance Club, or a Special Club (for any other good reason you may want to set money aside). Use Payroll Deduction or Direct Deposit to make deposits regularly and have that money when you need it.

Youth Savings Accounts

We have special incentives for our younger members to save. Our members ages 0 - 11 are referred to as Summit Mountaineers. Anyone in this age group who opens a new account will receive a gift! With every deposit of $25.00 or more, they receive an entry form for our annual drawing for a Gift Certificate to Toys R Us. And with every deposit, Summit Mountaineers receive a gift. What a great way to get started on the road to a great financial future! Members ages 12 - 17 are our Victory Climbers. Anyone in this age range who opens a new account will also receive a gift! With every deposit of $25.00 or more, they receive an entry form for our annual drawing for two Geauga Lake tickets. And with every deposit, Victory Climbers receive a gift. All children in these age groups receive a special newsletter designed just for them. We waive our usual membership fee for anyone under age 18.

	Identity Theft is a serious crime - Learn how to protect yourself
	We have included several links that you can use to learn how to prevent, detect and defend against ID theft. Learn the steps that you can take, and what to do in the event that you become a victim of the crime.

Equal Housing Lender - We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act

Excess Share Insurance - Private insurance for member savings in excess of $250,000 to $500,000

Federally insured by NCUA

NOTICE OF EXPIRATION OF THE TEMPORARY FULL NCUA INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account will no longer receive unlimited deposit insurance coverage by the National Credit Union Association (NCUA). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by NCUA up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.