Savings

Discover how easy saving your money can be with Somerville’s Credit Union savings accounts. Whether you have accumulated a large amount of savings or saving for a major expense we have savings options that can best suit your needs.

Regular Savings

  • Become member and part owner of the credit union with a $25 minimum deposit
  • Earn quarterly dividends
  • Online Banking & ATM access
  • Quarterly statements to track your transactions

Special Purpose Savings

  • Traditional savings account
  • Penalty free withdrawals
  • Earn quarterly dividends
  • Online Banking access
  • $5 minimum balance

Money Market

  • Earn more interest income on your accumulated savings
  • Earn higher and competitive rates
  • Dividends compounded monthly
  • Online banking access

Certificate of Deposit

  • Higher dividend rate for longer term savings
  • Six to five year terms

IRAs and ESAs

  • Traditional, Roth, Educational
  • Dividends compounded quarterly

Super Saver Club

  • Save for the holidays, vacation or any special purpose
  • Earn extra dividends on the first $2,500
  • Limited to one penalty free withdrawal per year
  • Additional withdrawals allowed; penalties apply

SCU Youth Account

  • Incentive based saving accounts for children 18 years old and younger
  • Rewards for deposits
  • Rewards for A’s (or grades equivalent to an A) on quarterly report cards
  • Access to Young Investors Club which is a higher interest savings account