Special savings programs for service men and women
Service Credit Union is proud to serve our armed forces, veterans and their families. If you are a member of one of these groups, you may qualify for exclusive savings benefits catered to your specific financial needs. These savings options pay higher dividends than regular accounts.
Our STAR Savings program is designed to encourage newly enlisted military to save more for their future. If your military service pay is $2,872 a month or less and you have direct deposit of your net pay to the STAR savings or your Service Credit Union checking account, you’ll get a premium dividend rate on savings accounts. If you direct deposit your paycheck to a Service Credit Union account, you’ll get paid up to two days early.*
Deployed Warrior Savings
If you’re a member who’s currently serving active duty in a combat zone as defined by Service Credit Union, you qualify for an annual savings rate of 10% APY with a deposit of up to $10,000.**
Contact us to determine if you qualify.
Our Veterans Savings program is open to anyone who has served in the military, regardless of service length. You’ll get a premium savings rate, loan discounts and other benefits.****
Please click here to see a full listing of our rates.
*Immediate credit of your direct deposit to your SCU account up to two (2) business days early is based upon when we receive your payroll from your employer. SCU cannot assume any liability for not depositing these funds to your account early.
**Warriors deployed in combat zones may deposit up to $10,000 into a SCU Warrior Savings Deposit Account which earns 10% APY (Annual Percentage Rate) up to $10,000.00. $10,000.01 and above earns 0% APY. Rates are variable and subject to change; accurate as of 08/01/2019. Service member must be serving in a combat zone as defined by the IRS; orders of deployment to a combat zone must be provided. Direct Deposit of net pay is required. No minimum balance is required to open the account; $5 deposit is required to open the savings account. Monthly deposits into Warriors Savings account cannot exceed the amount of your monthly government pay, however, deposits into the Warrior Savings account may be direct deposit, an allotment, or a transfer of funds from an SCU account. Withdrawals are not permitted from the Warrior Savings account, or it will revert back to a SCU Regular Savings account. Account will stop accruing 10% APY at the end of the month of return date per deployment orders plus 120 days. E-Communications are required.
***Warriors are defined as members who are assigned to or who have returned in the past 120 days from peacekeeping operations, hostile environments, or combat/war zone areas where our troops are in imminent danger of enemy attack (PCS does not qualify) or service members decorated with the Purple Heart, Bronze Star, or a higher combat-related award. SCU’s Warrior Certificate rates are also extended to active, reserve and Guard duty members with 20 or more years of service as well as retired military and DoD civilians who have 20 or more years of service. In order to obtain any Warrior program benefits, direct deposit of your entire net pay (not allotment) must be maintained in your primary SCU account.
****Qualification requires proof of US Military status. Direct deposit of entire net pay must be maintained (not allotment). Must select the automatic loan payment feature for discounted loan rate.