​SCHOOL EMPLOYEE PRODUCTS

RATES & TERMS

Rates quoted are effective as of 2/7/2023 and are subject to change without notice.

SchoolsFirst FCU’s loan program features a range of interest rates for some of its consumer loans. A rate is based on a variety of factors, including the applicant’s credit rating. Loan terms are based on various factors, including the amount financed. All loans subject to credit approval.

For more information, visit our website at www.schoolsfirstfcu.org or call 800.462.8328.

Custom Savings Accounts

Custom Savings Accounts
AccountsMinimum Monthly DepositDividend RateAnnual Percentage Yield (APY)1
Summer Saver

(Limit one per Membership. Variable rate account, subject to change after account opening.)

$1 minimum monthly deposit by payroll direct deposit or automatic share-to-share transfer only. Maximum $2,000 month.5.83%6.00%
Paycheck Planner††

(Limit one per school district payroll. Variable rate certificate, subject to change after account opening.)

Deposit a set percentage of payroll direct deposit only. One additional deposit per school year, up to $3,000.5.83%6.00%
Custom Savings Accounts
Accounts
Summer Saver†

(Limit one per Membership. Variable rate account, subject to change after account opening.)

Minimum Monthly Deposit
$1 minimum monthly deposit by payroll direct deposit or automatic share-to-share transfer only. Maximum $2,000 month.
Dividend Rate5.83%
Annual Percentage Yield (APY)16.00%
Paycheck Planner††

(Limit one per school district payroll. Variable rate certificate, subject to change after account opening.)

Minimum Monthly Deposit
Deposit a set percentage of payroll direct deposit only. One additional deposit per school year, up to $3,000.
Dividend Rate5.83%
Annual Percentage Yield (APY)16.00%

Deferred Compensation Certificates

​Limited to employees of participating school districts; penalty for early withdrawal.
Deferred Compensation Certificates
Term Minimum Monthly Deposit Dividend Rate APY1
12 months $50, payroll deposit only12 3.44% 3.50%
36 months $50, payroll deposit only12 4.16% 4.25%
60 months $50, payroll deposit only12 4.40% 4.50%
Deferred Compensation Certificates
Term
12 months
Minimun Monthly Deposit Dividend Rate APY1
$50, payroll deposit only12 3.44% 3.50%
24 months
Minimun Monthly Deposit Dividend Rate APY1
$50, payroll deposit only12 4.16% 4.25%
36 months
Minimun Monthly Deposit Dividend Rate APY1
$50, payroll deposit only12 4.40% 4.50%

School Employee Credit Card

School Employee Credit Card

Range of RatesMaximum Loan AmountMonthly Payment
School Employee Mastercard

No annual fee; variable rate.2

10.75% - 17.90% APRUp to $35,000.002% of the statement balance or $25, whichever is greater
School Employee Credit Card
School Employee Credit Card
School Employee Mastercard

No annual fee; variable rate.2

Range of Rates10.75% - 17.90% APR
Maximum Loan AmountUp to $35,000.00
Monthly Payment
2% of the statement balance or $25, whichever is greater

SchoolsFirst FCU credit cards feature no cash advance, balance transfer, or over-limit fees and a 25-day grace period on new purchases when the entire balance is paid in full by the payment due date each month and your previous balance is zero or a credit balance. Foreign Transaction Fee 2% of the transaction amount in US Dollars.

Loans for School Employees

Loans For School Employees table description
LoansAnnual Percentage Rate (APR)Maximum Loan AmountMaximum Term (based on loan amount)Estimated Monthly Payment
Higher Education Loan

(For Master's and Doctorate Programs)
Variable Rate3

9.50%4Up to $50,000.00120 months$1.29 per $100 borrowed (based on a 120-month term at the discounted rate)5
Special Curriculum Loan6,73.75%4Up to $15,000.0060 monthsEstimated payment of $1.83 per $100 borrowed based on a 60-month term
Special Curriculum Loan7,8

Variable Rate3

9.50%4Up to $50,000.00180 months (Interest only for 60 months, then amortized for up to 120 months)Initial interest-only payment $35; amortized payment $241 based on a typical loan of $8,000 for 36 months5
School Employee Mortgage ProgramContact the Real Estate Lending Department at 800.462.8328. Call: 800.462.8328, extension 8288 or realestateinfo@schoolsfirstfcu.org for details.
Classroom Supplies Loan7,90%4Up to $1,00010 months10 monthly payments of $50 per $500 borrowed
Uniform Loan100%4Up to $50010 months10 monthly payments of $50 per $500 borrowed
Computer Loan113.25%4$2,500.0024 months$4.31 per $100 borrowed (based on a 24-month term)
STRS/PERS Retirement Credit Personal Loan5.40% APR4
6.40% APR4
7.40% APR4
Up to $25,00036 months
48 months
60 months
$3.02 per $100 borrowed
$2.37 per $100 borrowed
$2.00 per $100 borrowed
Loans For School Employees rates table
Loans
Higher Education Loan

(For Master's and Doctorate Programs)
Variable Rate3

Annual Percentage Rate (APR) 9.50%4
Maximum Loan Amount Up to $50,000.00
Maximum Term (based on loan amount) 120 months
Estimated Monthly Payment
CLTYPE9800|T1|Payment per $100 borrowed (based on a 120-month term at the discounted rate)5
Special Curriculum Loan6,7
Annual Percentage Rate (APR) 3.75%4
Maximum Loan Amount Up to $15,000.00
Maximum Term (based on loan amount) 60 months
Estimated Monthly Payment
CLTYPE2860|T1|Payment per $100 borrowed based on a 60-month term
Special Curriculum Loan7,8

Variable Rate3

Annual Percentage Rate (APR) 9.50%4
Maximum Loan Amount Up to $50,000.00
Maximum Term (based on loan amount) 180 months (Interest only for 60 months, then amortized for up to 120 months)
Estimated Monthly Payment
Initial interest-only payment $35; amortized payment $241 based on a typical loan of $8,000 for 36 months5
School Employee Mortgage Program
Contact the Real Estate Lending Department at 800.462.8328. Call: 800.462.8328, extension 8288 or realestateinfo@schoolsfirstfcu.org for details.
Classroom Supplies Loan7,9
Annual Percentage Rate (APR) 0%4
Maximum Loan Amount Up to $1,000
Maximum Term (based on loan amount) 10 months
Estimated Monthly Payment
10 monthly payments of $50 per $500 borrowed
Uniform Loan10
Annual Percentage Rate (APR) 0%4
Maximum Loan Amount Up to $500
Maximum Term (based on loan amount) 10 months
Estimated Monthly Payment
10 monthly payments of $50 per $500 borrowed
Computer Loan11
Annual Percentage Rate (APR) 3.25%4
Maximum Loan Amount $2,500.00
Maximum Term (based on loan amount) 24 months
Estimated Monthly Payment
CLTYPE3024|T1|Payment per $100 borrowed (based on a 24-month term)
STRS/PERS Retirement Credit Personal Loan
Annual Percentage Rate (APR) 5.40% APR4
6.40% APR4
7.40% APR4
Maximum Loan Amount Up to $25,000
Maximum Term (based on loan amount) 36 months
48 months
60 months
Estimated Monthly Payment
$3.02 per $100 borrowed
$2.37 per $100 borrowed
$2.00 per $100 borrowed

School Employee Auto Loan with Summers Off7, 14

​Original loan term must be 60 months or less in order to be eligible for summers off 
School Employee Auto Loan with Summers Off7,14sup>
TermRange of Rates - NewRange of Rates - UsedEstimated Payment per $100 Borrowed13
36 months4.49%4 - 18.00% APR4.99%4 - 18.00% APR$2.97 - $3.62
48 months4.49%4 - 18.00% APR4.99%4 - 18.00% APR$2.28 - $2.94
60 months4.49%4 - 18.00% APR4.99%4 - 18.00% APR$1.86 - $2.54
School Employee Auto Loan with Summers Off7,14sup>
School Employee Auto Loan with Summers Off7,14
36 months
Range of Rates - New4.49%4 - 18.00% APR
Range of Rates - Used4.99%4 - 18.00% APR
Estimated Payment per $100 Borrowed13
$2.97 - $3.62
48 months
Range of Rates - New4.49%4 - 18.00% APR
Range of Rates - Used4.99%4 - 18.00% APR
Estimated Payment per $100 Borrowed13
$2.28 - $2.94
60 months
Range of Rates - New4.49%4 - 18.00% APR
Range of Rates - Used4.99%4 - 18.00% APR
Estimated Payment per $100 Borrowed13
$1.86 - $2.54

†New Summer Saver accounts are limited to current school employees; retired school employees are not eligible. One Summer Saver account per Membership.

††10-mo. employees have 16.7% of their paycheck transferred into their Paycheck Planner; 11-mo. employees have 8.3% of their paycheck transferred into their Paycheck Planner. Early withdrawal penalty: Subject to share certificate early withdrawal penalty and closure of the account. Fees may reduce earnings on the account. Funds in your Paycheck Planner account will transfer to your specified SchoolsFirst FCU share account(s) on your designated transfer date(s). Initial term may vary depending on date account opened, renewing automatically into a 12-month term upon maturity.

  1. The Annual Percentage Yield (APY) is accurate as of the last dividend declaration date.
  2. Variable rate, subject to increase after account opening.
  3. Variable rate; rate and payment subject to increase after consummation.
  4. Rate reflects a 0.75% discount for payment made by automatic transfer from your SchoolsFirst FCU account.
  5. Estimated payment based on current rates.
  6. Must be enrolled in an approved career advancement program.
  7. Must be a current school employee to be eligible.
  8. Must be enrolled in Doctorate of Education in Educational Leadership; or Masters in Speech and Language Pathology in combination with employment agreement from candidate's district office.
  9. Minimum monthly payment for the Classroom Supplies Loan is $50. Requires at least one recently posted payroll deduction or direct deposit of at least $100 into a SchoolsFirst FCU share account. Limit one per calendar year.
  10. Minimum monthly payment for the Uniform Loan is $25. Requires at least one recently posted payroll deduction or direct deposit of at least $50 into a SchoolsFirst FCU share account. Limit one per calendar year.
  11. Minimum monthly payment for the Computer Loan is $25.
  12. Minimum opening deposit of $50.00 required for this account.
  13. Lowest payment factors based on the lowest rate quoted; highest payment factors are based on the highest rate quoted.
  14. School Employee Auto Loan with Summers Off. Minimum monthly payment remains the same and interest continues to accrue during the summer months. Loan term will be extended. Original loan term must be 60 months or less.