Share
Savings Accounts
All employees of all school districts of Lorain County
including public, private, and parochial; the employees of
this credit union; retired educators and school employees;
other select groups as defined below and their immediate
family are eligible to join School Employees Lorain County
Credit Union, Inc., (SELCCU). SELCCU may, with the approval
of the Superintendent of Credit Unions, permit a group of
persons, who, themselves have a common bond of association
to become members of SELCCU. Immediate family is defined as
spouse, children, parents, brother, sister, grandparents,
and mother-in-law and father-in-law. You can open a Share
Savings Account with a minimum deposit of just $5! We offer
a variety of accounts to meet your needs and several ways to
access your funds. If you leave your place of employment or
move from the area, you'll remain a member as long as you
maintain a $5 minimum balance in your share savings account.
Checking Accounts
At School Employees Lorain County Credit Union Inc. (SELCCU),
we know that one size doesn’t fit all. That’s why we offer a
variety of checking accounts to meet your needs.
Money
Market Investment Accounts
This is a savings account that pays higher dividends than a
Share Savings Account.
Share
Certificates
These are savings accounts with a fixed rate and a set
maturity date.
Youth Add-On Share
Certificates
A Share Certificate account for members up to age 17.
IRAs
Individual Retirement Accounts are retirement savings
accounts with tax-deferred interest until withdrawal.
Deposit Insurance
The National Credit Union Administration (NCUA) insures each
account up to $100,000. In addition, the SELCCU Board of
Directors has chosen to provide an additional $250,000 of
savings protection to each qualifying account through a
private insurer - Excess Share Insurance (ESI).
Escrow Account
This account can be used for depositing funds to pay real estate
taxes and insurance.
