Service Credit Union Announces Changes to Checking and Savings

Qualified members can receive ATM fee reimbursements, select consumer loan discounts

Service Credit Union recently introduced changes to its checking and savings products focused on delivering personalized solutions to its members.

Among the enhancements are newly introduced Everyday Checking and Dividend Checking accounts, each coming with benefit tiers:  Basic, Direct Deposit, and Direct Deposit+. Tiers are based on a members’ account activity. These accounts feature up to $30 in ATM reimbursements and a 0.75% APY discount on personal and auto loans in the top tier.

“Member feedback allows us to make changes and create more value within our products,” said David Araujo, CEO of Service Credit Union. “Our membership told us how important certain benefits are, with non-Service CU ATM fee reimbursements being near the top of the list. The new Everyday and Dividend Checking accounts put the member in control of their own benefits, which allows for added flexibility as they plan to reach their financial goals.”

Savings accounts at Service Credit Union also saw an overhaul as part of the new product announcement. All members now earn 5% Annual Percentage Yield (APY) on the first $500 in their Primary Savings Account, and 0.5% APY on all funds over $500. This change simplified the previous multiple savings accounts into one, enhancing members’ savings power.

“Saving is so important to financial well-being, and we wanted to enhance the savings power for our members,” said Araujo. “The changes to our savings account helps simplify our product line and we encourage members to take advantage of a great rate built into the new Primary Savings Account.”

To learn more about Service Credit Union’s new savings and checking options, visit www.servicecu.org/AccountsFAQ or call 800.936.7730 (U.S.) or 00800.4728.2000 (International).