Free accidental death and dismemberment insurance to $1,000. Low-cost options for additional coverage available.
Free notary public services.
After hours answering machine available for requesting withdrawals, information, etc.

Credit Union savings are insured by

NCUA

(National Credit Union Administration--A United States Government agency)

up to $100,000.

Deposits of any amount made to your account in person, by mail, or through automatic payroll deduction. The money accumulated earns dividends quarterly and is accessible with a telephone call.

Primary Savings. Deposits made to a regular savings account with no specific designation; i.e., vacation, Christmas. A $25 initial deposit to this account is required to take advantage of Credit Union services. A minimum balance of $5 is required thereafter.

Vacation Savings. Deposits of any amount made to your account in person, by mail, or through automatic payroll deduction. The money accumulated earns dividends quarterly and is accessible with a telephone call. This account is most often used as a repository for money individuals are setting aside for summer pay and is most easily carried out with automatic payroll deduction.

Christmas Savings. Deposits of any amount made to your account in person, by mail, or through automatic payroll deduction. The money accumulated earns dividends quarterly and is accessible with a telephone call. This account is most often used as a repository for money individuals are setting aside for Christmas expenses and is most easily carried out with automatic payroll deduction.

Share Certificates. Money deposited for a specified period of time and preferred dividend rate; also known as certificates of deposit.

IRA Savings. Deposits made in accordance with guidelines from the Internal Revenue Service to reduce taxes. Funds may not be removed until the member reaches 59 1/2 without penalty under IRS guidelines.

Truth-in-Savings Disclosures.

Loans

Effective July 1, 2002, the Salem County School Employees Federal Credit Union will not pay for Loan Protection Insurance. Steps have been taken to make quality alternative insurance protection available to members in the form of a low-cost Member's Choice Life Insurance. This term life insurance is available at low cost to the members to protect loans up to $30,000.

Click here to see how to apply for a loan.

Interest on all loans is calculated on the unpaid balance of the loan. Loans repaid through automatic payroll deduction are credited with payments for each payroll period, generally, twice a month instead of the normal once a month. This generally results in a slightly earlier payoff date. An optional feature for educationally based credit unions is "summer skip," which requires no payment for the months of July and August although interest continues to accumulate for those months. All loans provide for the option of credit insurance at the expense of the borrower.

Personal. Signature loans available up to $7,500. Some restrictions apply for less than 4 years continuous employment.

Tuition. Signature loans available up to $5,000 for one year.

Share Pledged. Loans made against shares currently held by the Credit Union in share certificates, regular savings, summer savings, or Christmas savings.

New Vehicle. New cars may be financed for 100% of the sticker price of the car. Car titles must be surrendered to the Credit Union for the life of the loan. Members are encouraged to have loans preapproved to assure immediate availability of the amount needed when they find the car of their choice.

Used Vehicle. Used cars may be financed for 90% of the NADA Official Used Card Guide or National Markets Report Book. Car titles must be surrendered to the Credit Union for the life of the loan.

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