Savings Rates
| Accounts | Dividend Rate | APY** | Min. Opening Balance |
Effective Date |
|---|---|---|---|---|
| Member Advantage Savings (Paid Quarterly) |
1.150% | 1.155% | $2,500.00 | APR 1 – JUN 30 |
| Member High Yield Savings (Paid Monthly) |
1.250% | 1.257% | $25,000.00 | APR 1 – APR 30 |
| Money Market $30,000 (Paid Monthly) |
1.150% | 1.156% | $10,000.00 | APR 1 – APR 30 |
| Money Market $50,000 (Paid Monthly) |
1.200% | 1.207% | $10,000.00 | APR 1 – APR 30 |
| Money Market $70,000 (Paid Monthly) |
1.250% | 1.257% | $10,000.00 | APR 1 – APR 30 |
| Money Market $90,000 (Paid Monthly) |
1.250% | 1.257% | $10,000.00 | APR 1 – APR 30 |
| Money Market $90,000 + (Paid Monthly) |
1.250% | 1.257% | $10,000.00 | APR 1 – APR 30 |
| Regular Shares (Paid Quarterly) |
0.250% | 0.250% | $25.00 | APR 1 – JUN 30 |
| Member Choice Accounts (Paid Quarterly) |
0.250% | 0.250% | $25.00 | APR 1 – JUN 30 |
| Christmas Savings (Paid Monthly) |
1.250% | 1.257% | $0.01 | APR 1 – APR 30 |
| Change Saver (Paid Monthly) |
1.250% | 1.257% | $0.01 | APR 1 – APR 30 |
| First Time Home Buyers (Paid Monthly) |
1.250% | 1.257% | $0.01 | APR 1 – APR 30 |
| Health Savings Accounts (Paid Monthly) |
1.000% | 1.005% | $0.01 | APR 1 – APR 30 |
Rates may be changed monthly at the discretion of the Board of Directors.
Dividends are subject to credit union earnings and are officially declared at the end of the dividend period.
Any applicable fees may reduce the earnings on the above accounts.
Savings Types
BCSCU offers several Savings Accounts for your various savings needs.
Regular Shares
*This is your required membership account. The minimum balance required in this account is $25.00. Dividends are paid quarterly based on your average balance over the quarter.
Club Accounts
BCSCU offers five Club Accounts to allow you to save for specific reasons. They are Miscellaneous Savings, Summer Savings, Tax Savings, Holiday Savings, and Household Savings. They all pay the same rate as Regular Shares, with interest compounded quarterly based on your average balance for the quarter. No minimum balance is required to open these accounts.
*Regular Share required
Christmas Club Savings
Save for the holidays with our Christmas Club Savings. Funds will be mailed to you in mid-November. You pay a penalty to withdraw the funds early. This is a great way to save for the holidays. Who wouldn’t want a big check showing up in the mail right before Christmas?
*Regular Share required
Change Saver Savings
Change Saver Savings Account is a special Savings Account that has a higher dividend rate. To take advantage of this Savings Account you need to enroll in our Change Saver Program where all your Debit Card purchases are rounded up to the nearest dollar and that change is automatically transferred into this Savings Account at the end of each day. This is the only method of contributing to this Savings Account. Deposits directly into this account are not allowed.
*Regular Share & Checking required
First Time Home Buyers Savings Program
Tax Exempt Savings Program for first time home buyers that has a higher dividend rate, maximum contributions per year do exist, please contact us for further information.
*Regular Share
Money Market
The minimum balance to open this account is $10,000.00. Interest is paid monthly based on your average balance for the month. Money Market pays a higher rate than our regular accounts.
*Regular Share required
Member Advantage
If you don’t have $10,000.00, but still want to earn a higher interest rate, try our Member Advantage Savings. With a minimum balance of $2,500.00 you get a higher rate than our regular and club accounts.
*Regular Share required
Member High Yield
This is our highest earning Savings Account. Minimum balance required for this account is $25,000.00. Interest is paid monthly based on your average balance for the month.
*Regular Share required
IRA Accounts
Traditional, Roth, and Education IRA’s are available in a Savings Account or Certificate Investment. All IRA Savings Accounts pay the same rate as Money Market and are compounded on a monthly basis. Minimum balance to open any IRA is $1.00.
*Regular Share required
HSAs
If you have a High Deductible Health Plan you can open a Health Savings Account.
*Regular Share required
Fee Schedule
Negative Balance Charge – $1.00 per day that account balance is below Zero
Teller Checks – $5.00 per check
Outgoing Wires – $5.00 on normal US institution to institution wires
Duplicate Statement Fee – $2.00 per statement
Account Closure Fee – $5.00
NCUSIF - Your Money is Federally Insured!
The National Credit Union Share Insurance Fund (NCUSIF) insures accounts to at least $250,000.00 per account (with additional coverage of up to $250,000.00 for certain retirement accounts, just as the FDIC does for banks). The NCUSIF is administered by the National Credit Union Administration (NCUA), an agency of the federal government.
You are welcome to come in or call for more information!