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Savings Accounts


Membership Savings

  • Competitive rates.
  • Savings accounts are known as share accounts.
  • As a member, you are part owner of the financial cooperative of Southern Chautauqua Federal Credit Union.
  • Your initial $25 deposit is held in a Share 1 account, collecting interest throughout membership. 
  • Easily open sub accounts to designate special savings.


Money Market Accounts

  • A smart place to stash some extra cash
  • Higher APR* than a regular share savings account
  • Minimum deposit balance requirement = $2,500
  • Dividends paid monthly
  • Maximum of 4 withdrawals or transfers per month**
  • Accessed in branch or via a phone call during regular business hours
  • Tiered dividend rates, ideal deposit amount = $75,000 based on current tiered rate structure


*Rates subject to change at the discretion of the Board of Directors.

** Exceeding the maximum withdrawals or transfers in a month will cause the Money Market Account to be closed and forfeiture of accrued dividends.  The account is eligible to be reopened in the following quarter.

Current Savings Rates

Rate Calculator

Health Savings

  • Prepare for out-of-pocket medical expenses.
  • Contribution limits: Single $3,500/Family $7,000.
  • If you are aged 55 and older, you may add $1,000 to the above listed limits. 

The facts about Health Savings Accounts (HSAs):

  • You must become a member of Southern Chautauqua Federal Credit Union to use our HSA account.
  • You must have a high deductible health insurance plan to save in an HSA: Additional information.
  • You are able to contribute to your HSA account with cash, check or direct deposit.
  • Currently, our HSA program provides direct withdrawal from the account via checks.
  • Southern Chautauqua FCU provides our members with one box of free checks each year.
  • You will be responsible to keep receipts that substantiate your withdrawals for medical expenses.
  • Health Savings Accounts are subject to government regulations and IRS reporting. SCFCU reports as regulated.
  • The information packet and startup forms can be found at any of our branches.

HSA Eligibility Exceptions

  • Medicare recipients are not eligible to make contributions.
  • VA medical benefit recipients are not eligible to make contributions.
  • Person(s) on a COBRA plan are not eligible to make contributions.

168 E Fairmount Ave
Lakewood, NY 14750

(716) 665-7000

Open today · 9:00 am – 5:30 pm

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Southern Chautauqua Federal Credit Union is committed to providing its members with the professional financial services they have come to expect. It will use its resources wisely and be held accountable to its members.