Savings Accounts
Join Summit Federal Credit Union today—and you’ll be more than a member. You’ll also be an owner! All it takes to start your Summit Federal Credit Union membership is an initial, minimum deposit of just $5.00 and a one-time $5 membership fee to open a Share Account. That $5.00 deposit will represent your “share” of ownership in Summit FCU.
Watch your money grow in a Summit FCU savings account. You’ll benefit from better rates as a member of our not-for-profit financial cooperative. You’ll also enjoy the peace of mind in knowing that your funds at SFCU are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), a division of the National Credit Union Administration (NCUA), plus an additional $250,000 by Excess Share Insurance, Inc.
Regular Share Savings
A minimum balance of $5.00 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. Access their Electronic Share Insurance Estimator for more information. 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!
Once your Share Account is opened, you can take advantage of all your Credit Union membership benefits. Whether it’s a lifelong dream or a weekend getaway, Summit Federal Credit Union offers a variety of great savings options to help you get there, including these other savings accounts:
Club Savings Accounts
SFCU offers a convenient, interest-bearing savings account designed to help you set aside cash for your favorite holiday, special occasion or vacation. 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 Name Your Own 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. Start saving today for tomorrow’s adventures!
Youth Savings Accounts
You're never too young to start saving (or to have someone else save for you), and we have special incentives for our younger members to save. Their membership fee is waived, and just a $5.00 deposit is all it takes to open an account in the name of a minor. You'll be amazed how fast both the child and his or her savings grow. Kids ages 17 and under will enjoy the numerous perks of our Youth Savings Accounts.
Members ages 0 - 11 are our 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 can be entered into our annual drawing for a gift card. What a great way to get started on the road to a secure financial future!
Members ages 12 - 17 are our Victory Climbers. Anyone in this age group who opens a new account will also receive a gift! With every deposit of $25.00 or more, they can be entered into our annual drawing for a gift card.
All children in these age groups receive fun, educational newsletters designed just for them.
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