Membership

Membership

Membership
Today, nearly 90 million Americans are members of a credit union … and the number grows every year. For more than 50 years, School Employees Lorain County Credit Union, Inc. (SELCCU) has been helping members reach their personal financial goals. Unlike other financial institutions, SELCCU is a not-for-profit, member-owned corporation whose only purpose is to provide financial services to you. As a result, revenue is returned to you in the form of services, higher dividends paid on Share Savings Accounts and Share Certificates and generally lower interest rates on loans and credit cards.

Who Can Join?
SELCCU membership is open to full- and part-time employees of:

	Each school district in Lorain County, including public, private, and parochial schools; includes all school employees and retired educators
	SELCCU
	City of Elyria
	The Community Foundation
	Educational Service Center
	Holland Computers
	LifeShare
	LifeSkills Center
	Lorain County ADA
	Lorain County Board of Mental Retardation & Developmental Disabilities
	Lorain County Community Action Agency
	Lorain County Community College
	National Association of College Stores (NACS)
	Northern Ohio SERC
	Public libraries
	Any educational entity, with approval of the SELCCU Board of Directors.

In addition, an employee’s immediate family* is also eligible for membership. The Credit Union may, with the approval of the Superintendent of Credit Unions, permit a group of persons who have a common bond of association to become members of School Employees Lorain County Credit Union, Inc.

*Immediate family is defined as spouse, children, stepchildren, parents, stepparents, siblings, stepsisters, stepbrothers, grandparents, grandchildren, stepgrandchildren, and mother--in-law and father-in-law.

Join With Ease
Establishing credit union membership requires an initial deposit of just $5 in a new Share Savings Account. To become a member, visit our Member Services department.

Once a Member, Always a Member
If you leave your place of employment or move from the area, you'll remain a member as long as you maintain an active Share Savings Account.

Share Insurance Protects Your Savings
The National Credit Union Administration (NCUA) is the federal agency that insures savings at most credit unions across the country. Just as banks are insured through the Federal Deposit Insurance Corporation (FDIC), credit unions are insured through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the United States government.

Passage of the Emergency Economic Stabilization Act of 2008 increased NCUA coverage from $100,000 to $250,000. The increase is in effect until December 31, 2013. Funds may be insured for even more than $250,000, depending on how you establish your accounts.

At SELCCU, we go one step further in protecting your hard-earned dollars. We provide up to an additional $250,000 of savings protection to each qualified account through Excess Share Insurance (ESI), a subsidiary of American Share Insurance (ASI), the nation's largest private deposit insurer of credit unions. You’ve worked hard to save money. You can count on SELCCU to take good care of it.

National Credit Union Administration