Daily Share (Savings)
Dividends are calculated daily and posted quarterly. Dividends are calculated on the average daily balance for the month. A statement will be sent to you at the end of each quarter.
Christmas Club (Savings)
Dividends are calculated and posted quarterly. A statement will be sent to you at the end of each quarter. Christmas club funds are automatically transferred into your share account on October 1.
Certificates of Deposit (CDs)
We offer 6 month, 12 month and 30 month certificates. Rates are subject to change weekly and there is a penalty for early withdrawal. Dividends are calculated monthly and posted quarterly.
Share Draft Account (Checking)
The Spencerport Federal Credit Union share draft account (checking) is available as follows:
- No monthly service charge
- No minimum balance required
- No per check charge
You receive monthly statements with your cleared checks listed in numerical order.
You can apply for overdraft privileges on your checking account by applying for an overdraft line-of-credit. Ask for details.
You can also request to have your checking linked to your savings account for overdraft protection. Please ask for details.
You can use direct deposit to put money into your SFCU checking account. You can do the same with Social Security or retirement checks.
Money Market Share Account
As with other SFCU accounts, our Money Market Share accounts are insured to $100,000 by the NCUA.
Features of our Money Market Share accounts are:
- It is a high interest daily savings account. Interest is paid from the day of deposit to the day of withdrawal.
- The Money Market Share account interest rate changes every 30 days.
- There are no monthly fees.
- The minimum initial deposit and minimum account balance is $2000.00.
- The minimum deposit to the account is $100.00.
- The minimum withdrawal is $500.00. There is a maximum of three (3) withdrawals per month.
- Dividend rates will be determined each month and will be based upon the Credit Union's earnings on its investment account with the Empire Federal Corporate Credit Union.
- If the account drops below the $2000.00 minimum balance, the account will be closed and transferred to your regular share account. Dividends will not be paid on the Money Market Share account for any month in which the balance falls below the $2000.00 minimum.
Individual Retirement Account
We offer two IRA choices for our members; a fixed rate IRA Certificate and an IRA Share savings account.
Fixed Rate IRA Certificates
- Minimum balance of $500.00.
- Additional deposits are not accepted.
- A term of 18 months.
- The dividend rate is fixed for 18 months at the rate in effect when the IRA was accepted.
- Dividends are posted quarterly.
- Subject to early withdrawal penalties if you withdraw funds prior to maturity.
IRA Share Account
- Minimum balance of $1.00.
- Additional deposits can be made at any time.
- Term is continuous.
- Dividend rate is the same as our regular share account rate
- Dividends are posted quarterly
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