Summer Pay Club

To help our members meet their expenses during the summer, the credit union offers a dividend earning solution called the Summer Pay Club. With this club account you can have a certain amount deducted from your pay each payday during the school year. The money is deposited into your Summer Pay Club and earns dividends quarterly. At the end of the school year, we will automatically transfer 5 disbursements, bi-weekly, to your credit union Share Draft Checking Account (Suffix X). You will have access to your money with your FREE Visa ATM/Debit card and/or basic checks that we offer for purchase. Your funds will be available at 8 a.m. on the scheduled disbursement dates. This allows you to easily plan your summer finances according to what best fits your bi-weekly needs.

HERE’S HOW IT WORKS: When figuring out your payroll deduction, multiply by 21, as this is the average number of payroll deductions that the credit union receives throughout the school year. Then divide by 5 to get your Summer Pay Club disbursement amount.

EXAMPLE: Save $275.00 per pay during the school year, multiply by 21 = $5,775.00, then divide $5,775.00 by 5 = $1,155.00 for each summer pay club disbursement, plus any dividend that has been posted to the account.

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