Savings Accounts

Flint Area School Employees Credit Union offers a variety of savings and investment accounts to fit your needs! Whether saving for a one-time special purchase or for future expenses like retirement, we can help you achieve your goals with a safe, sound and secure place to save money. Your savings are insured to at least $250,000 by the National Credit Union Association (NCUA), an agency of the federal government. The dividends you earn on these accounts are declared quarterly and may be 0%.

Opening an account is easy!

Visit any credit union office or call a Member Services Representative at (800) 369-2786, (810) 720-8300 or (810) 664-5351.

Share Savings Accounts

Deposits in a Share Savings Account represent a member's ownership or "shares" in the Credit Union. It is a basic savings account that requires a minimum balance of $5.00 to keep the account open. There are no monthly maintenance fees, and you can access your account online, by telephone, via an ATM or in person at any office.

Share Draft Checking Account

With no minimum account balance requirements or monthly fees a checking account at Flint Area School Employees Credit Union is the only one you will need! Some of the benefits include:

  • A+CHECK® VISA® Debit Card can be used to make purchases wherever VISA® is accepted and to obtain cash at an ATM.
  • Boxes of checks are complementary with a net direct deposit of a paycheck, social security, retirement or other ACH recurring payment into the account.
  • Dividends, which are declared quarterly and may be 0%, can be earned on the account.
  • Access the account using A+CALL for balance and transaction information and to make transactions.
  • Access the account using A+COMPUTE for balance and transaction information and to make transactions. View cleared drafts, download account transaction information to Quicken to reconcile your account, or pay your bills through the Bill Payment system (a monthly fee may apply).

Club Accounts

Club accounts are a great way to set aside funds for specific purposes without the hassle of juggling multiple account numbers. Club accounts are opened under your existing regular share savings account number and distinguished on your monthly account statement by a separate identifier.

Christmas Club

Make saving for holiday expenses easy! Whether you set aside a dedicated amount from the direct deposit of your paycheck, retirement or Social Security or make deposits as needed, you can spread the cost of holiday expenses over a longer period of time. Your accumulated funds and dividends are transferred to your regular share savings or share draft checking account on October 1st.

Super Club

Set aside funds for a vacation, tuition, home improvement projects or for any purpose. Funds may be transferred to or from your regular share savings account or share draft checking account and withdrawals may be made at any time.

Summer Check Club

A Summer Check Club is a great way to accumulate funds during the school year and pay yourself during the months of July and August, when you are not working. Prior to the end of the school year, you determine how your funds are distributed in July and August – through five bi-weekly checks mailed to your home or five transfers to your Share Draft Checking Account.

Higher Interest Savings Options

The credit union offers two savings programs to maximize your earnings! These accounts have different requirements than a regular share or club account, which when met, may earn a higher dividend than other accounts.

High-Interest Federally Insured (HI-FI) Accounts

HI-FI Accounts require a minimum deposit of $2,500 to maximize your earning potential. You can make deposits or withdrawals, in amounts of at least $100, as often as needed. Whenever your balance falls below $2,500 you will earn a dividend lower than the Regular Share Savings Account. Dividends are calculated daily and disbursed to your HI-FI account on the last day of each month. Click here for the current dividend rates.

Certificates of Deposit

Certificates of Deposit require a minimum deposit that is pledged for a specific term. The credit union offers a variety of terms and interest rates to choose from for investment options. Certificate of Deposit interest rates are subject to change weekly, however, the interest rate in effect at the time of purchase is the interest rate for the term of the certificate. Penalties may be assessed for early withdrawal.

Tax Favored Savings Accounts

Retirement, educational expenses and medical expenses can add up quickly. To prepare for these types of expenses, the credit union offers several options to help you plan for the future. If you are interested in opening any of the following accounts, please contact our Member Services Department for more information.

Individual Retirement Accounts (IRAs)

An IRA is designed to help you accumulate funds for your retirement. The credit union offers both Traditional and Roth IRAs, which can offer many tax advantages, for example, tax-deferred interest income, deductible contributions and tax-free withdrawals depending on your personal situation*.

Coverdell Educational Savings Accounts

A Coverdell Education Savings Account is a great way to accumulate the funds needed to pay for the educational expenses of the child named on the account. If the funds from the account are used to pay for qualified education expenses, the earnings and distributions may be tax-free and IRS penalty-free**.

Health Savings Accounts (HSAs)

A HSA is a tax-favored savings account that is combined with a qualifying high-deductible health insurance plan***. Employees who utilize this benefit can deposit tax deductible funds into their HSA to cover 100% of their health plan's deductible, as well as other qualified medical, dental and prescription expenses.

*Please contact your accountant or tax/financial advisor with regard to your personal situation.
**Please consult your accountant or tax/financial advisor with regard to your personal situation. Please note in particular that withdrawals may be subject to an early withdrawal penalty if invested in a certificate of deposit.
***A qualified high deductible health insurance plan has a minimum deductible for a single person or for family coverage, please contact your plan administrator for detailed information about your deductible. The maximum out-of-pocket limits for a single person or for family coverage are subject to annual cost of living adjustments, please review the limits set for each calendar year.