Savings, Checking, IRA

Sarasota Municipal Employees Credit Union offers a wide variety of savings and term deposit accounts to help you save and plan for your future. All of our deposit accounts are federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which means that your money is safe! This fund is administered by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. Take a look at the different types of accounts we offer, and feel free to contact Member Services if you would like more information.

Share Accounts (Savings)

Your primary Share account at the Credit Union is your “savings” account. This account establishes your Credit Union membership. You will find that our Share account generally pays a higher rate of return, called dividends, than at other financial institutions. Comprehensive statements are provided quarterly.

Share Draft Accounts (Checking)

The Share Draft account is your Credit Union “checking” account. A share draft account with your credit union means a hassle-free checking account. There are:

  • NO monthly service fees
  • NO minimum balance required
  • NO per check charges
  • Free On-line banking using It’s Me 247
  • FREE* Bill Pay
  • No FEE Debit Card

Club Accounts

Our club accounts earn dividends while providing an easy and systematic way to build extra holiday funds or save for that well deserved getaway.

Share Certificates

Sarasota Municipal Employees Credit Union offers a variety of certificate programs to lock in a great rate while choosing a term that best fits your investing needs. See our current rates, or contact the Credit Union for more information.

Money Markets

Our Money Market Account encourages members to set goals and save regularly to reach the different rate tiers. As your level of savings increases, so does your dividend rate! After the required initial deposit of $1,000, you can make additional deposits of $250 or more and withdrawals of $500 increments. You earn dividends on the average daily balance, and dividends are paid quarterly. There are no monthly service charges, withdrawal penalties or investment periods. You can make up to six withdrawals per calendar month. Additional withdrawals are charged a $10.00 fee per withdrawal thereafter.

Individual Retirement Accounts (IRAs)

Ready to start planning for your retirement? Sarasota Municipal Employees Credit offers several types of IRA accounts that pay excellent dividends!

Your contributions may be partially or totally tax-deductible, depending upon your participation in other pension plans and your adjusted gross income (see your tax advisor). Every dollar your IRA earns, however, remains tax-deferred!

An IRA from Sarasota Municipal Employees Credit Union provides you with your own personal retirement savings plan and a convenient method for making deposits through monthly transfers from your Share (Savings) account .

*Free Bill Pay requires the payment of at least 1 bill per month otherwise a $4.95 non-use fee will be charged monthly.

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