Rates

Last declared dividend rate: period ending September 30, 2022
Annual Percentage Yield is accurate as of September 30, 2022
These dividend rates and annual percentage yields may change as determined by the credit union Board of Directors.

All Rates are subject to change.
APR = Annual Percentage Rate
APY = Annual Percentage Yield

Contact a SCFCU representative for most current rates at:  
Downtown Branch   (901) 930-0757               Sycamore View Branch  (901) 377-8929   

Share Savings Account

Tier I - As of the last dividend declaration date, if your daily balance was $10,000.01 or more, the dividend rate paid on the entire balance in your account was .15%. This will result in an annual percentage yield of .15% when the current method of computation is applied.

Tier II - As of the last dividend declaration date, if your daily balance was $5,000.01 - $10,000.00, the dividend rate paid on the balance in your account was .15%. This will result in an annual percentage yield of .15% when the current method of computation is applied.

Tier III - As of the last dividend declaration date, if your daily balance was $1,000.01 - $5,000.00, the dividend rate paid on the entire balance in your account was .15%. This will result in an annual percentage yield of .15% when the current method of computation is applied.

Tier IV - As of the last dividend declaration date, if your daily balance was $.01 - $1,000.00, the dividend rate paid on the entire balance in your account was .15%. This will result in an annual percentage yield of .15% when the current method of computation is applied.

A minimum deposit of $25.00 is required to open a share savings account. Fees could reduce the earnings on this account.

Share Certificate Rates

October 1 - December 31, 2022

TERM	$1,000 - $9,999	$10,00 and above
6 Month	.75 dividend rate / .75 APY*	.75 dividend rate / .75 APY*
One Year	1.00 dividend rate / 1.00 APY*	​1.00 dividend rate / 1.00 APY*
Two Year	​1.25 dividend rate / ​1.25 APY*	​1.25 dividend rate / ​1.25 APY*
Three Year	​1.55 dividend rate / ​1.55 APY*	​1.55 dividend rate / ​1.55 APY*

Teen Star Certificate

Term                                 $250 Minimum                     
6 Month                     .20 dividend rate/ .20 APY*                          

Christmas Club Account

As of the last dividend declaration rate, the dividend rate was .15%.  This will result in an annual percentage yield of .15% when the current method of computation is applied.

No minimum balance required to earn annual percentage yield. Fees could reduce the earnings on this account.

*ANNUAL PERCENTAGE YIELD
The dividend rate and annual percentage yield on share certificates is as shown above. If you purchase a share certificate you will be paid this rate until first maturity.

COMPOUNDING FREQUENCY - Unless otherwise paid, dividends will be compounded every month.

CREDITING FREQUENCY - Dividends will be credited to your account every month. Alternately, you may choose to have dividends paid to you or to another account every month rather than credited to this account.

DIVIDEND PERIOD - For this account type, the dividend period is monthly.

EARLY WITHDRAWAL PENALTIES - (a penalty may be imposed for withdrawals before maturity) - The penalty we may impose will equal 90 days dividends on the amount withdrawn subject to penalty.

Share Certificate rates are subject to change weekly.

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Special Savings Account

As of the last dividend declaration date, the dividend rate was .15%.  This will result in an annual percentage yield of .15% when the current method of computation is applied.

No minimum balance required to earn annual percentage yield.

If you close your account before dividends are paid, you will not receive the accrued dividends.

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Loan Rates

Shelby County Credit Union adopted RISK-BASED PRICING in September 1999. Now we are better able to become the lender of choice for all members by offering the best possible rate based upon each individual's credit history. Our less creditworthy members benefit by qualifying for a loan with the credit union instead of resorting to higher cost alternatives such as finance companies. In addition, members with good credit history can qualify for lower rates at the credit union so they do not have to turn to other financing sources that are offering better rates to high quality applicants. By offering risk-based pricing, it gives us the ability to say "YES" to most members.

LOAN TYPE	APR
​New Autos, Boats, RVs, Motorcycles	3.0% - 14.0%
Used Autos, Boats, RVs, Motorcycles ​	​4.0% - 16.0%*
Shared Secured       ​	​2.5 % Above Current Share APY
​Certificate Secured	​ 2.5% Above Certificate Rate
Personal Loans, Signature, Line of Credit, Appliance, Co-Maker  ​	​7.25% - 18.00%*
VIS A Credit Card	13.80%  APR