Kids' Credit Union (KCU)
- Kids’ Credit Union is designed to grow as your child grows.
- Each Kids’ Credit Union member is asked to work toward the savings goal for his/her current age/grade level
- The savings year runs from July 1-June 30.
- If the member meets his/her yearly savings goal, that exact amount is converted into a Share Certificate.
- Share Certificates are issued in July and mature in December of the child’s graduation year.
- Children who join KCU by 2nd grade and meet all savings goals will graduate with over $10,000.
- Those who join earlier and meet all savings goals will likely have more than $10,000.
- There are deposit boxes at each school where KCU teaches lessons. A representative from SCFCU collects and records deposits weekly.
- There could be advantages to withdrawing the proceeds before a child begins his/her senior year. Talk to a financial adviser to determine which strategy works best for your family. If you would like to opt-out early, please print and return the Early Opt-Out form.
- If your child/children are unable to meet their 6th-11th grade savings goal, there is a fallback savings goal of $500 that he/she can meet. The fall back CD of $500 will earn 5% interest. SCFCU wants to help KCU members contribute to their continued savings.
Joining is EASY
- Children of all ages can join Kids’ Credit Union to begin saving.
- If you child or a member of his/her family lives, works, worships or attends school in Chautauqua County, he/she is encouraged to join the Kids’ Credit Union.
- Call 665-7000 or stop by any branch to open an account.
- Competitive dividend rates as high as 10% that never fall below 5%.
- No monthly service fee.
- No minimum deposit required.
Questions? Call Charlene Austin at (716) 665-7000 ext 2103.
Print application, complete and bring to any branch of SCFCU.