Summer Savings - East County Schools Federal Credit Union
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Happy Family on Vacation in the Mountains

Get a Summer Paycheck, Even When School's Out

Designed for 9, 10, and 11-month school employees, but open to every ECS member with a direct deposit paycheck.

 

Dividend rate

4.00% APY*

on your full balance

Monthly max

$2,500

via payroll direct deposit

Monthly fees

$0

no minimum balance

Early withdrawal

No Penalty

in-branch only

How it works

  • Contact ECS to open your Summer Savings Account 
  • Set your monthly contribution amount through payroll direct deposit (up to $2,500/month)
  • Earn 4.00% APY* on your full balance all year long
  • Choose where your funds go at maturity: transfer to any ECS account or receive a check
  • When your balance is transferred out each July, the cycle starts fresh with your next direct deposit

Account details

  • Deposits via payroll direct deposit only — no outside transfers
  • Dividends calculated daily, credited monthly
  • No ATM access to funds
  • eStatements required
  • Requires an existing ECS Primary Share Account
  • Rates subject to change each July 1st

Early withdrawals & maturity

  • Early withdrawals (full or partial) are fee-free and penalty-free, but must be made in person at our El Cajon branch
  • Funds cannot be rolled over into the next year — balance must be transferred out and the process begins again with your next direct deposit

*APY = Annual Percentage Yield. 4.00% APY rate subject to change each July 1st. All rates, terms, and conditions subject to change.

Savings Rates

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Members LoveECSFCU!

  • Marcel Becker testimonial
    What mattered to me, was that I needed the money to buy a motorhome, and I needed it now. This is the fastest I've ever experienced for a loan. It's never been this easy or this pleasant and I could tell that this was simply the way ECSFCU serves all of their members; it's their culture. I wasn't a member when I started, but I am now.
    Marcel Becker - General Manager, Trident Maritime Systems and Career Technical Education and Ethics in Business partner with GUHSD