Sarasota Municipal Employees Credit Union
offers a wide variety of savings and term deposit
accounts to help you save and plan for your
future. All of our deposit accounts are federally
insured up to $100,000 by the National Credit
Union Share Insurance Fund (NCUSIF), which means
that your money is safe! This fund is administered
by the National Credit Union Administration (NCUA),
an independent agency of the U.S. Government. Take
a look at the different types of accounts we
offer, and feel free to contact Member
Services if you would like more information.
Share Accounts (Savings)
Your primary Share account at the Credit Union
is your "savings" account. This account
establishes your Credit Union membership. You will
find that our Share account generally pays a
higher rate of return, called dividends,
than at other financial institutions.
Comprehensive statements are provided quarterly.
Share Draft Accounts (Checking)
The Share Draft account is your Credit Union
"checking" account. A share draft
account with your credit union means a hassle-free checking
account. There are:
- NO monthly service fees
- NO minimum balance required
- NO per check charges
Club Accounts
Our club accounts earn
dividends
while providing an easy and systematic way to
build extra holiday funds or save for that well
deserved getaway.
Sarasota Municipal Employees Credit Union
offers a variety of certificate programs to lock
in a great rate while choosing a term that best
fits your investing needs. See our
current
rates, or contact the Credit Union for more
information.
Our Money Market Account encourages members to
set goals and save regularly to reach the
different rate tiers. As your level of savings
increases, so does your dividend rate! After the
required initial deposit of $1,000, you can make
additional deposits of $250 or more and
withdrawals of $500 increments. You earn dividends
on the average daily balance, and dividends are
paid quarterly. There are no monthly service
charges, withdrawal penalties or investment
periods. You can make up to six withdrawals per
calendar month through SAMM, our telephone teller.
Additional withdrawals are charged a $10.00 fee
per withdrawal thereafter.
Individual Retirement Accounts (IRAs)
Ready to start planning for your retirement?
Sarasota Municipal Employees Credit offers several
types of IRA accounts that pay excellent
dividends!
Your contributions may be partially or totally
tax-deductible, depending upon your participation
in other pension plans and your adjusted gross
income (see your tax advisor). Every dollar your
IRA earns, however, remains tax-deferred!
An IRA from Sarasota Municipal Employees Credit
Union provides you with your own personal
retirement savings plan and a convenient method
for making deposits through monthly transfers from
your Share (Savings) account
.
