SCHOOL EMPLOYEE PRODUCTS
RATES & TERMS
Rates quoted are effective as of 11/20/2024 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
| 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. | 6.30% | 6.50% |
| 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. | 6.30% | 6.50% |
| 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 Rate | 6.30% |
| Annual Percentage Yield (APY)1 | 6.50% |
| 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 Rate | 6.30% |
| Annual Percentage Yield (APY)1 | 6.50% |
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 | 4.40% | 4.50% |
| 36 months | $50, payroll deposit only12 | 4.55% | 4.65% |
| 60 months | $50, payroll deposit only12 | 4.69% | 4.80% |
| Term | ||
|---|---|---|
| 12 months | ||
| Minimun Monthly Deposit | Dividend Rate | APY1 |
| $50, payroll deposit only12 | 4.40% | 4.50% |
| 36 months | ||
| Minimun Monthly Deposit | Dividend Rate | APY1 |
| $50, payroll deposit only12 | 4.55% | 4.65% |
| 60 months | ||
| Minimun Monthly Deposit | Dividend Rate | APY1 |
| $50, payroll deposit only12 | 4.69% | 4.80% |
School Employee Credit Card
| Range of Rates | Maximum Loan Amount | Monthly Payment | |
|---|---|---|---|
|
School Employee Mastercard No annual fee; variable rate.2 |
11.00% - 17.90% APR | Up to $35,000.00 | 2% of the statement balance or $25, whichever is greater |
| School Employee Credit Card | |
|---|---|
|
School Employee Mastercard No annual fee; variable rate.2 |
|
| Range of Rates | 11.00% - 17.90% APR |
| Maximum Loan Amount | Up 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 | 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) | 9.75%4 | Up to $50,000.00 | 120 months | $1.31 per $100 borrowed (based on a 120-month term at the discounted rate)5 |
| Special Curriculum Loan6,7 | 5.00%4 | Up to $15,000.00 | 60 months | Estimated payment of $1.89 per $100 borrowed based on a 60-month term |
| Special Curriculum Loan7,8 Variable Rate3 | 9.75%4 | Up to $50,000.00 | 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. Call: 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 | 5.00%4 | $2,500.00 | 24 months | $4.39 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 |
| Loans | |
|---|---|
| Higher Education Loan
(For Master's and Doctorate Programs) |
|
| Annual Percentage Rate (APR) | 9.75%4 |
| Maximum Loan Amount | Up to $50,000.00 |
| Maximum Term (based on loan amount) | 120 months |
| Estimated Monthly Payment | |
| $1.31 per $100 borrowed (based on a 120-month term at the discounted rate)5 | |
| Special Curriculum Loan6,7 | |
| Annual Percentage Rate (APR) | 5.00%4 |
| Maximum Loan Amount | Up to $15,000.00 |
| Maximum Term (based on loan amount) | 60 months |
| Estimated Monthly Payment | |
| $1.89 per $100 borrowed based on a 60-month term | |
| Special Curriculum Loan7,8
Variable Rate3 |
|
| Annual Percentage Rate (APR) | 9.75%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) | 5.00%4 |
| Maximum Loan Amount | $2,500.00 |
| Maximum Term (based on loan amount) | 24 months |
| Estimated Monthly Payment | |
| $4.39 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| Term | Range of Rates - New | Range of Rates - Used | Estimated Payment per $100 Borrowed13 |
|---|---|---|---|
| 36 months | 5.69%4 - 18.00% APR | 5.79%4 - 18.00% APR | $3.03 - $3.62 |
| 48 months | 5.69%4 - 18.00% APR | 5.79%4 - 18.00% APR | $2.33 - $2.94 |
| 60 months | 5.69%4 - 18.00% APR | 5.79%4 - 18.00% APR | $1.92 - $2.54 |
| School Employee Auto Loan with Summers Off7,14 | |
|---|---|
| 36 months | |
| Range of Rates - New | 5.69%4 - 18.00% APR |
| Range of Rates - Used | 5.79%4 - 18.00% APR |
| Estimated Payment per $100 Borrowed13 | |
| $3.03 - $3.62 | |
| 48 months | |
| Range of Rates - New | 5.69%4 - 18.00% APR |
| Range of Rates - Used | 5.79%4 - 18.00% APR |
| Estimated Payment per $100 Borrowed13 | |
| $2.33 - $2.94 | |
| 60 months | |
| Range of Rates - New | 5.69%4 - 18.00% APR |
| Range of Rates - Used | 5.79%4 - 18.00% APR |
| Estimated Payment per $100 Borrowed13 | |
| $1.92 - $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.
- The Annual Percentage Yield (APY) is accurate as of the last dividend declaration date.
- Variable rate, subject to increase after account opening.
- Variable rate; rate and payment subject to increase after consummation.
- Rate reflects a 0.75% discount for payment made by automatic transfer from your SchoolsFirst FCU account.
- Estimated payment based on current rates.
- Must be enrolled in an approved career advancement program.
- Must be a current school employee to be eligible.
- 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.
- 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.
- 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.
- Minimum monthly payment for the Computer Loan is $25.
- Minimum opening deposit of $50.00 required for this account.
- Lowest payment factors based on the lowest rate quoted; highest payment factors are based on the highest rate quoted.
- 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.