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“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

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Sabbatical Leave Bond
Sabbatical Leave Bond

Certificated school employees are eligible for a sabbatical leave of absence to:

  • Enhance their teaching skills
  • Achieve state certification in a shortage area

School districts require teachers to obtain a Sabbatical Leave Bond prior to taking a sabbatical leave of absence. This bond guarantees the school district will be reimbursed for your agreed (or contracted) salary should you fail to complete the terms of the leave agreement.

 

The amount of a Sabbatical Leave Bond is equivalent to your agreed salary payable during the leave period.

 

To purchase a Sabbatical Leave Bond through the credit union, you must be a Member of SchoolsFirst FCU.

 

Premium Cost

 

The premium for a Sabbatical Leave Bond is $15 per $1,000 of the bond amount, rounded to the next whole dollar.                                                                                                                                                                                                                    

Example: How Much a Sabbatical Leave Costs
Bond Amount $35,950.00
/ $1,000 $35.95
x $15 $539.25
Rounded to the Next Whole Dollar $539.00
Premium for a $35,950 Bond $539.00


When to Apply

 

You cannot begin your sabbatical until you have secured a Sabbatical Leave Bond, so it’s important to apply as early as possible.

 

What You'll Need to Apply

 

It takes approximately 10 business days to process the bond paperwork after you complete the following steps:

  • Obtain the Sabbatical Leave Letter of Agreement from your school district
  • Obtain and complete a Sabbatical Leave Bond application
  • Calculate the premium cost and write a check for that amount payable to SchoolsFirst FCU

Deliver all the above to any SchoolsFirst FCU branch or mail directly to:

SchoolsFirst FCU
Insurance Services (Sabbatical)
2115 N. Broadway
Santa Ana, CA 92706

Refunds

 

The Sabbatical Leave Bond premium is refundable if you decide not go on your sabbatical leave, provided you notify us before the beginning of the sabbatical leave term.

 

Get a Quote

Call

Call

800.462.8328 ext. 4389

Monday through Thursday, 9 a.m. - 5 p.m.
Friday, 9 a.m. - 6 p.m.

 

Email

 

Contact an insurance specialist by sending an email to

insurance@schoolsfirstfcu.org

 


Not NCUA/NCUSIF/FDIC insured. May lose value, no Financial Institution Guarantee. Not a deposit of any financial institution.

CA Insurance License 0707104

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