CHECKING / SHARE DRAFT ACCOUNTS
When is a checking account not a checking account?

When it’s called a Share Draft Account! It looks, writes and is accepted just like a checking account. Discover the benefits of opening a share draft account with SCMH Employees Federal Credit Union:

• With our Share Draft Account, there are no minimum balance requirements and no monthly service charge.
• Unlimited check writing with no per check fees.
• No hassles with cancelled checks because you generate a carbonless copy with every check you write.
• Overdraft Protection is provided from your Regular Share Account.
• Direct Deposit available
• Electronic Bill Payment is available
• Master Money Debit Cards are available to make purchases instead of writing a check. Debit Cards can also be used at any ATM with the STAR or PLUS System logos.
• Re-order Checks online

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FEE SCHEDULE

Contact SCMH Employees Federal Credit Union for a complete Rate and Fee Schedule.

DEBIT CARDS
Credit Union members have access to their accounts through the ATM network. They offer 24 hour service, 7 days a week, for transactions including: deposits, withdrawals, transfers, and account inquiries.

You are eligible for a Debit card if you are a member in good standing.

Credit Union members may acquire a Master Money Debit Card by applying at the Credit Union or by requesting an application form. The Debit Card works like a check. Purchases are directly debited from your Share Draft Account. There is NO FEE if the card is used as a debit card.

The Master Money Debit Card can also be used as an ATM card.

The Credit Union will not charge for transactions made at any PNC Bank ATM machine. There will be a $1.00 fee for each transaction at any other ATM machine. The owner of the ATM may impose a surcharge fee.

Please note: There may be a delay before ATM or Debit Card transactions are posted to your account.

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SAVINGS PLANS
Regular Share Savings Accounts
This is the initial account you open to become a member, which qualifies you for all of the Credit Union services. By maintaining a $5.00 balance in this share account, you become a shareholder as well as a member. These shares represent your ownership of the Credit Union. There is a minimum balance of $5.00 required to earn dividends. Dividends are compounded daily and paid quarterly.

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Share Club Accounts
In addition to regular share accounts, SCMH Employees Federal Credit Union also has special accounts called Vacation Club Share Accounts and Christmas Club Share Accounts. Vacation clubs start the first pay in April of each year and mature at the end of March of the following year. Christmas clubs start the first pay in October of each year and mature at the end of September of the following year. At the end of each term, the balance in your Vacation club will automatically transfer into your regular share savings account and the balance in your Christmas club will be mailed to your home address. You may then access these funds by ATM's, in person, or by mail. You may also make deposits in this same manner as well as through payroll deductions. Dividends are compounded daily and paid at the end of the term. There is a $5.00 fee for early withdrawals.

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Share Certificates (Certificates of Deposit)
This investment option allows you to lock in a terrific rate of return over a fixed period of time, and is a great place to deposit funds that you will not need for a period of time.

We offer short term certificates for 6, 12, and 18 months. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the term of the certificate. Dividends are credited quarterly, and early withdrawals are allowed with a minimal penalty. There is a minimum deposit of $500.00 to open a short-term certificate.

Long term certificates of 24, 48 and 36 months are also being offered at a higher Annual Percentage Rate and Yield. Rates are fixed and will be in effect for the term of the certificate. Dividends are credited quarterly, and early withdrawals are allowed with a minimal penalty. There is a minimum deposit of $2,500.00 to open a long-term certificate.

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Traditional and Roth IRA’s
There is no minimum balance to open this account. There is no administrative fee. Dividends are paid quarterly to the certificate.

Each account is insured by The National Credit Union Association (NCUA) up to $100,000.00. NCUA maintains one of the largest and strongest levels of financial reserves in America.

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