Club FLY
School Employees Lorain County
Credit Union, Inc. (SELCCU) has made a commitment to promote and
encourage the financial literacy of our younger members ages 13-17.
We believe that strong money
management skills that are taught at an early age help reinforce
life skills that include financial responsibility, choices,
planning, saving and spending.
We have chosen a suite of products that will best teach Club FLY members financial literacy.
We’ve balanced the products to represent savings and loan skills,
as we believe that both are necessary for fundamental financial
literacy.
We have prepared comprehensive
study guides which will prepare our younger members for becoming
financially responsible individuals. After they’re familiar with
the study guide, a quiz will be administered. Pending a passing
grade and other qualifications, the Club FLY member will then earn
the privilege of experiencing hands-on knowledge with our selected
Club FLY products.
We are confident that our members
will embrace this unique program. For additional information or
questions, please call a Member Services Representative.
|
What
is Club FLY? |
|
Club FLY, which stands
for Financial Literacy for Youth, is financial education
and training for our credit union members ages 13-17
through real hands-on experience with School Employees
Lorain County Credit Union, Inc. (SELCCU) products and
services. We hope to foster relationships that will
develop into future financially responsible members. |
|
How can I participate in Club
FLY?
Club FLY has four (4)
primary requirements.
- You
must be a member of SELCCU.
-
You
must be between the ages of 13-17.
- You
must have a signed Parental Acknowledgment Form. Note: This is
not a co-signer, but an acknowledgement from your parent or
guardian recognizing that you are participating in Club FLY.
- You
must successfully pass a Product Quiz. We will provide you
with an appropriate
study guide to help you prepare.
Club FLY Products
Club FLY includes several
modified SELCCU products. Please review the information below to
find out details about specific Club FLY products.
Indicates
products requiring a passing grade (at least 80%) on a Product
Quiz.
Club FLY Money Market Investment
Account (MMIA)
This account earns the regular posted dividends on Money Market
Investment Accounts, but it only requires a minimum opening
balance of $250. If the balance falls below $250, the dividend
rate will be the same as the current Share Savings Account rate.
Club
FLY Checking Account
This Checking Account requires a minimum opening balance of $25.
Once the account is open, Club FLY members have a choice of 50
free checks or one box of any style check (except for Super Check
or Insight) for $6.45, plus tax and shipping. Additional checks
after initial free supply or reduced cost order will be at regular
price. This account has no monthly service charge and no minimum
monthly balance requirements.
Club
FLY VISA® Check Card
The VISA® Check Card, also called a debit card, is available to
any Club FLY member who has a checking account. Club FLY VISA®
Check Cards are limited to $250 point of sale per day. Club FLY ATM Cards are available to any Club FLY
member who has a Share Savings Account or Checking Account. Club
FLY ATM Cards are limited to $100 cash per day. Club FLY VISA® Credit Cards are available
with credit limits of $250 (for those who qualify with income
consisting of allowances, babysitting, lawn mowing, etc.) and $500
(for those who qualify and have a W-2 documented pay stub.)
Club
FLY Loans
Club FLY Loans are available to those who qualify and can show
income (including allowances, babysitting, professional
employment.) Loans vary in amounts from $250 - $1,000 with terms
from 6 - 24 months.
