At Central Coast Federal Credit Union, Free Checking means FREE CHECKING. Emerald and Diamond tier members have this benefit while Sapphire members are subject to a $12.00 per month maintenance fee. Please visit our Gem Select Rewards page to see how to get FREE Checking. There’s no limit to the number of checks you may write or no per-check fee. We offer VISA debit cards, drawing funds directly from checking for your purchases at retail locations with VISA, Explore or PLUS services (over 189,000 locations nationwide) and we won’t charge you for seeing a teller. Monthly statements are issued on all Checking accounts.
Money Market Checking
A Money Market Checking Account is a great place for saving money for those future plans such as buying a house or saving for the kid’s college expenses. The more money you have in a Central Coast Federal Credit Union Money Market Account, the higher dividend rate you earn. The account has an opening balance requirement of at least $2,500.00. Dividends are paid monthly on an average balance for the dividend period of $2,500 or more. Higher rates are earned with average balances starting at $7,500.00, $10,000.00 and $25,000.00. As this is considered an “investment” account, we limit withdrawals to six per month and the withdrawals must be for $100.00 or more. This is a Federally-Insured account- meaning you are never in danger of losing any of your principal investment (as is the case with some Money Market accounts at other institutions which may invest your funds in stocks, bonds or commodities).
KIDS & TEEN ACCOUNTS
Sammie's Saver Club Features:
Designed for Kids Ages 12 and under to help promote good savings habits.
- Free Birthday Card
- Each Deposit Earns a Trip to “Sammie’s Treasure Chest” for a prize.
- An Official “Sammie the Seal” bean bag plush when you open an account and accumulate deposits of at least $500.
- Plus, Accounts Earn Dividends!
Designed for Teens Ages 13 – 17
Surf-Zone Student Package Includes:
- Checking Account with free starter checks
- Visa Debit Card**
- College Saver Term Certificates with only a $500 minimum investment
** Debit card withdrawal limits require parental signature
CERTIFICATES AND IRAS
Term Share Certificates
New SelectOne Share Certificates
In a rising Interest rate environment, locking into a long-term fixed rate investment can be a troubling task. That’s why Central Coast Federal Credit Union has introduced SelectOne. SelectOne allows you to get great long-term rates without the risk of missing out on a higher dividend rate. During the term, the SelectOne account features an option that allows you to make a one-time adjustment to your dividend rate if a higher prevailing rate exists. Flexibility and peace of mind is the key to this extraordinary new product.
Our Term Certificates are Central Coast Federal Credit Union’s most popular savings product. Term Certificates (“Certificates of Deposit” at other financial institutions) are available at either $1,000.00 or $5,000.00 minimum starting balances. The terms for our $1,000.00 minimum certificates are 3 months and 1 year. The terms for our $5,000.00 minimum certificates are 7 months, 24 months and 36 months. We have many options on our term certificates – automatic renewals, dividend payment options (monthly, quarterly, at maturity payouts), and so on. Our rates are traditionally among the highest in the Monterey County area … There are penalties for early withdrawals on all term certificate accounts.
Individual Retirement Accounts (IRAs)
An Individual Retirement Account at Central Coast Federal Credit Union is a safe, secure way for you to save for your retirement years. Our dividend rates have traditionally been the highest in the Monterey County area for federally-insured IRA’s. We offer Traditional (tax-deferred), Roth, Coverdell ESA (Education Savings Account) and SEP (Simplified Employee Pension). Dividends are paid monthly on average share balances of $100.01 or more. Quarterly statements are issued on IRA’s. We strongly suggest you consult with your tax or investment advisor before opening an IRA …