SAVINGS ACCOUNT FAQS

Yes, you must open a Regular Savings account to become an SSSCU member.

The main disadvantage of withdrawing or transferring the dividends from your Certificate Account before the term is over is that no compounding will occur. You will continue to earn dividends on your original deposit for the rest of the term, but you will not earn any additional dividends on the earnings that you have withdrawn or transferred.

Yes, there’s a limit of 6 preauthorized, automatic, or telephone transfers per month.

Yes, you can order paper statements. However, there is a $5 monthly fee for paper statement.

Yes, you can have more than one Secondary Savings account.

Yes. A General Membership gives you access to IRA accounts and other account options, as well as Savings, Checking, and so much more. Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes. A MYAccount Membership gives you access to MYAccount Savings, as well as MYAccount Checking, Money Market and Secondary Savings Accounts. Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes, we offer SMART Checking and Savings accounts for children and teenagers who are 17 years old or younger. The SMART Checking account with the Visa® Debit Card is for kids and teens ages 10 to 17. The SMART Checking and Savings account requires a parent or legal guardian joint owner.

We also offer MYAccount Savings accounts for students and young adults who are 25 years old or younger.

Yes, you have access to free online financial literacy resources through the BALANCE® Program.

You can make up to six preauthorized, automatic, or telephone transfers from your account each month to another account or to a third party. Up to three of these monthly transfers can be made by check, draft, or debit card to a third party.³

As long as you keep your account balance at $5 or higher, there’s no monthly fee for a Regular Savings account. If your balance drops below $5, then there is a $5 monthly fee for the account. See our Fee Schedule for more details about fees.

No, there’s no monthly service fee for a Secondary Savings account. See our Fee Schedule for more details about fees.

No, there is no monthly service fee for Money Market accounts. For more details on fees, see our Rates & Fees Schedule.

It sets your child up for long-term savings growth and teaches invaluable money management skills.

We offer tiered rates on Money Market accounts, so you can get a better rate as your balance grows. See our current rates for details about tiered rates.

A minimum deposit of $5 and a parent or guardian must be a joint owner on the account.

A certificate-secured loan is a loan that is secured by the money in your certificate account. If you are unable to make your loan payments, the lender may take the money from your certificate account to cover the amount you still owe on your loan.

When you use your Certificate Account as security for a loan, you continue to earn dividends. And because secured loans usually offer better rates than unsecured loans, you will typically get a better loan rate as well.

They will be able to take advantage of services, accounts, loans and other features as they grow older.

A Regular Savings account is required for membership, while a Secondary Savings account is optional. Many members use a Secondary Savings account to save for a specific goal, like a family vacation, holiday expenses, or a down payment on a house.

With a savings account, you can withdraw your money as you need it .

With a certificate account, you leave your original deposit in the account for the full length of the term you choose, or pay a penalty. Once the term is over, you can automatically renew the certificate, or you can withdraw all the funds. As you earn dividends each month, you can withdraw just the earnings after they are credited to your account without any penalty.