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Savings for School Employees

Educators Paycheck Planner

Our Educators Paycheck Planner is designed exclusively for public school employees in eligible districts who are on a 10- or 11-month pay schedule and want to distribute their payroll over 12 months. With Educators Paycheck Planner, you’ll receive regular payroll distribution during the summer months.

The Educators Paycheck Planner conveniently works in conjunction with direct deposit. Each pay period, a set percentage of your net pay is automatically deposited into your SchoolsFirst FCU Educators Paycheck Planner Share account.* In addition, you may make a one-time additional deposit, up to a maximum of $3,000, each school year.

Features
  • Variable rate account
  • Earns same rate as our Summer Saver account
  • No withdrawals allowed to ensure sufficient funds for the summer months
  • Monthly deposits through direct deposit only
  • 10-month employees will have 16.7% deducted each pay period
  • 11-month employees will have 8.3% deducted each pay period
  • One-time additional deposit of $3,000 allowed per school year
Educator Paycheck Planner Account Rates
Variable rate account. Rates effective as of 4/23/2014, and are subject to change daily.

Min. Opening Balance Dividend Rate APY
Deposits must be made through direct deposit only. Deposits will be a set percentage of your monthly net base pay. 2.96% 3.00%
APY = Annual Percentage Yield
* 10-month employees will have 16.7% deducted each pay period.
11-month employees will have 8.3% deducted each pay period.







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