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School Employee Products Rates & Terms
 

Rates quoted are effective as of date 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
  Minimum Monthly Deposit Dividend Rate Annual 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. 2.71% 2.75%
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. 2.71% 2.75%

 

Deferred Compensation Certificates
Limited to employees of participating school districts; penalty for early withdrawal.
Term Minimum Monthly Deposit Dividend Rate APY1
12 months $50, payroll deposit only12 1.24% 1.25%
36 months $50, payroll deposit only12 1.73% 1.75%

60 months

$50, payroll deposit only12 2.23% 2.25%

 

School Employee Credit Card
  Range of Rates Maximum Loan Amount Monthly Payment

School Employee Mastercard

No annual fee; variable rate.2

7.50% –
17.90% APR
Up to
$25,000
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
  Annual Percentage Rate (APR) Maximum Loan Amount Maximum Term (based on loan amount) Estimated Monthly Payment

Higher Education Loan

 (For Master's and Doctorate Programs)


Variable Rate3

5.25%4 Up to
$50,000
120 months $1.07 per $100 borrowed (based on a 120-month term at the discounted rate)5

Special Curriculum Loan6,7

 

 

5.95%4 Up to $15,000 60 months Estimated payment of $1.93 per $100 borrowed based on a 60-month term 

Special Curriculum Loan7,8

 

Variable Rate3

5.25%4 Up to $50,000 180 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 Program Contact the Real Estate Lending Department at 800.462.8328, extension 8288 or realestateinfo@schoolsfirstfcu.org for details.
Classroom Supplies Loan7,9 0%4 Up to $1,000 10 months  10 monthly payments of $50 per $500 borrowed
Uniform Loan10 0%4 Up to $500 10 months  10 monthly payments of $50 per $500 borrowed
Computer Loan11 5.95%4 Up to $2,500 24 months 

$4.43 per $100 borrowed (based on a 24-month term)

STRS/PERS Retirement Credit Personal Loan

5.40% APR4

6.40% APR4

7.40% APR4

Up to $25,000  36 months

48 months

60 months
$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 
Term Range of Rates - New Range of Rates - Used Estimated Payment per $100 Borrowed13
36 months 2.44%4 - 18.00% APR 2.44%4 - 18.00% APR

$2.88 - $3.62

48 months 2.44%4 - 18.00% APR 2.44%4 - 18.00% APR

$2.19 - $2.94

60 months 2.44%4 - 18.00% APR 2.44%4 - 18.00% APR

$1.77 - $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. 

 

    

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