Premium Checking Account | Dividends | South Carolina Federal

One after another, the special features and premium perks really add up.

Earn dividends

Once your balance reaches $2,500, we start paying you at a competitive rate.

Enjoy loan discounts

Save 0.50% APR when you finance your next vehicle.*

Get debit card rewards

Pile up the points and go shopping for travel services, merchandise, and more.

Manage money efficiently

Get anytime account access with Online and Mobile Banking.

Get everything you need - and a lot more on top of that.

Some checking accounts reach into your pocket for monthly fees. At South Carolina Federal Credit Union, our Premium Checking does just the opposite. We hand you opportunities to earn extra money and valuable rewards while providing all the tools needed to manage your finances efficiently.

Premium Share Certificates available.
Discounted vehicle loan rates.*
Instant issue debit card for easier shopping online or in stores.
Earn points every time you choose "credit" for your debit card purchases, and go shopping on uChoose Rewards^®.

Access your accounts through a nationwide ATM network.
Free foreign ATM use.
Priority member service over the phone.
$20 discount on yearly rentals of safe deposit boxes.
Free cashier's checks.

Avoiding Fees

The monthly fee is waived as long as you maintain an average daily balance¹ of $2,500 in your Premium Checking account, or a month-end balance of $5,000 in combined share accounts (savings, checking and Money Market), plus one of the following monthly:

Monthly direct deposit of at least a single amount of $250² or more and 10 signature-based debit card transactions.
A current first mortgage with South Carolina Federal Credit Union.

Monthly direct deposit of at least a single amount of $250² or more and an open South Carolina Federal Credit Union Mastercard credit card.⁴
Month-end loan balance³ of $15,000 or more.

View checking account rates.

From	To	Dividend Rate	Annual Percentage Yield¹
$2,500.00	$9,999.99	0.05%	0.05%
$10,000.00	or more	0.10%	0.10%

Take a closer look at your budget.

How much home can you afford?

Open a Premium Checking account.

Make an Appointment

Apply Online

Call or Visit

Frequently
asked questions

How do I open an account?

You can open an account by visiting a financial cetner, calling (800) 845-0432, or online. Here are some things to keep in mind as you begin the application process:

It will take about 10 minutes to open and fund your new account. You will need:

A valid driver's license or government-issued photo ID
U.S. Social Security Number or ITIN
U.S. checking account or credit/debit card to fund the account (please refer to Rates and Fee Schedule for details).

You must be a U.S. citizen or a U.S. resident alien.

The following accounts require personal attention, specific documentation and are not opened online: Trust, Individual Retirement Accounts (IRAs), estate accounts, business accounts, teen accounts and Kids Savings accounts. Please visit a financial center for assistance with these accounts.

How do I withdraw money from my checking?

There are several ways to withdraw from your account including:

Visit a financial center durring business hours.
Use an ATM - free at South Carolina Federal ATMs and surcharge-free at Allpoint Network ATMs.
Transfer funds from one account to another via Online Banking, Mobile Banking¹, or Phone Banking.
Get cash back while shopping.
Send a wire transfer.

How can I deposit money into my checking account?

There are several ways to deposit money into your account, including:

Download the direct deposit form (PDF).
Deposit a check using Remote Deposit via Mobile Banking¹.
Visit a financial center during business hours, or leave your deposit in an envelope in the night drop deposit box on the side of a financial center.
Deposit at any South Carolina Federal ATM.
Mail it to us (please include your account number) at:

South Carolina Federal Credit Union
PO Box 190012
North Charleston SC 29419-9012

Call (800) 845-0432 and transfer money through ACI Payments, Inc.
Send a wire transfer.

How do I request a check copy?

Copies of cleared checks are available for up to seven years from the date they are posted to your account.

To obtain a check copy through Online Banking:

Log into your account.
Under the “Account Access” tab choose “View Transaction History."
If the check number appears in your transaction history, click on the blue hyperlinked check number; an image of the check will appear.
Checks are maintained through Online Banking six months after the cleared date.

Use our Secure Chat feature to complete your request:

Please log into Online Banking and click on the “Secure Chat” link for a live chat with one of our representatives.

For check copies beyond 6 months visit a local financial center or contact us.

How do I close my account?

If you wish to close your account, we ask that you visit a local financial center or contact us.

Please be advised, your account cannot be closed if you have an open credit card and/or loan with a balance. If the credit card and/or loan are paid in full, but still open, you will still need to sign documents to close those accounts.

How can I avoid over drafting my account?

Here are some tools to help you stay on top of your finances and avoid overdrafts:

Budget: Check out our budgeting tips to help you make better financial decisions.
Enroll in Direct Deposit: Direct Deposit lets you receive your paychecks faster and helps ensure you have the money you need, when you need it.
Enroll in Online and Mobile Banking: Check your balances and account history, schedule transfers, receive mobile account alerts, and deposit checks through Remote Deposit.

What is Overdraft Protection?

Overdraft Protection is a service to help prevent returned checks and overdrafts on your checking account.

Here's how it works:

If requested, available funds from your savings, checking, money market, credit card, or line of credit (PAL or HELOC) are automatically transferred to your checking account in the event of an overdraft.
Fees may apply for overdraft transfers. (See Fee Schedule)

To set an existing account as Overdraft Protection or request Overdraft Protection:
Visit a local financial center or contact us.

What is Courtesy Pay and how does it work?

Courtesy Pay is a non‐contractual courtesy (not a loan) that may or may not pay items from a checking account when funds are not available.

We pay overdrafts using Courtesy Pay at our discretion.
We do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be decline.
A Courtesy Pay (Paid NSF) fee will be charged each time an overdraft is paid. (see Fee Schedule)
If your account is overdrawn for five or more consecutive business days, an additional fee may apply. (see Fee Schedule)
There is no limit on the total fees that can be charged when you overdraw your account.

Three levels of Courtesy Pay are available:

Premium Courtesy Pay - Attempts to cover all items (ACH, Checks, one time debit card and ATM transactions).
Standard Courtesy Pay - Attempts to cover Checks, ACH, and Online Bill Pay only.
Opt-Out of Courtesy Pay - Nothing is covered.

To add or remove Courtesy Pay from your checking account, visit a local financial center or contact us.

The road to a better auto loan starts here.

Low rates, flexible payment options and available discounts help you keep monthly payments down.

Auto Loans

Offer applies on external refinances only. Discount only available when payment is automatically deducted from Premium Checking.

The Average Daily Balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Direct Deposit must come directly into checking from the payroll source (allocations are not considered).

May combine auto, boat, Personal Access Line, etc. (all consumer loans, excluding First Mortgage and/or credit card).

Card must be open and in good standing.

Dividend Rates are accurate as of 4/7/2023. Rates are subject to change after account opening. Fees and withdrawals may reduce earnings on account.