We are proud to have been named to Business Insider’s list of “Best Banks and Credit Unions for Military Members and Their Families.”
Published in February 2021, this list is independently reported and was put together by an objective panel of banking and financial planning experts, including U.S. Army veteran Tania Brown. Service Credit Union was recognized for our Everyday Checking Account, which allows qualifying members to receive discounts on certain loans; our high-interest Primary Savings Account; our 24/7 member service; and our large ATM network.
With an Everyday Checking Account, members receive a 0.50% discount on vehicle and personal loans if they qualify for the Direct Deposit tier, and a 0.75% discount with the Direct Deposit+ tier.* Military members who sign up for Direct Deposit will also receive their military pay up to two days early.**
Service Credit Union’s Primary Savings Account earns members 5% APY*** on their first $500, which Business Insider notes it “higher than what many banks pay.”
“A good military bank should make it easy for you to access your money, loans, and investments from wherever you are in the world. It should also provide special incentives for military members and families, such as discounted loans or high interest rates on bank accounts,” writes Business Insider.
*Loan Discounts do not apply to real estate, lines of credit, business loans, certificate or share secured consumer loans, or VISA loans. Discount will be applied to the APR that a member qualifies for based on creditworthiness. Members must maintain the Tier qualifications for the life of the loan in order to keep their loan discount.
**Immediate credit of your direct deposit to your Service Credit Union (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. Must be a member of SCU or eligible for membership.
***Annual Percentage Yield (APY) is accurate as of the last dividend declaration date of 02/16/21 and subject to change without notice. Dividends paid on average daily balances of $500; variable APY of 5.00%. If average daily balance exceeds $500, the remaining balance will receive variable APY of 0.25%. A minimum deposit of $5 is required to open a Primary Savings account.