CSESAP Loans - East County Schools Federal Credit Union
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CSESAP Match Loan Program

Classified School Employees Summer Assistance Program (CSESAP)

    Take advantage of the CSESAP:  Get the match of your CDE CSESAP Summer Savings and keep your paycheck!

    What is CSESAP?
    The California Department of Education has a program where from September through June, you can contribute up to 10% of your pay to the Classified School Employee Summer Assistance Program and in July the state will provide matching funds up to one dollar for each dollar withheld from participating classified employee's monthly paychecks.

    What's the Problem? Many employees do not have 10% of their monthly salary available to contribute to this program and contribute either $0 or less than the full 10%

    The ECSFCU Solution: Each payday, East County Schools FCU will loan you a matching amount, deposited into your ECSFCU checking account, and each month you only the interest*. When the CSESAP match is received in Summer, pay back the loan and keep the rest.

    CSESAP Loan is available to all eligible classified employees!

    Participation Guidelines

    1. Elect to participate in the CSESAP program with your employer by March 1st and select a monthly contribution.

    2. Employees must have (or open) an East County Schools FCU membership and checking account. This can be opened in-branch, CU2U (we come to you), or online at www.EastCountySchools.org prior to CSESAP Loan processing.

    3. Enroll in Direct-Deposit for your net paycheck ($500 minimum) to ECSFCU prior to CSESAP Loan.

    4. Notify East County Schools FCU that you will be participating in this CSESAP Loan program by calling or texting 619-588-1515 or online by contacting us here and leaving your name, district and the best way to contact you.

    5. Show proof-of-contribution from their first paycheck to establish the loan amount and receive their first advance.

    Submit your enrollment request online or via phone to ensure you don't miss out.

     

    *APR = Annual Percentage Rate. All terms and conditions of the one-time funding Classified School Employee Summer Assistance Program (CSESAP) will apply. Estimated California Department of Education matching percentage is usually announced each May. Interest on the CSESAP loan will be payable monthly via automatic deduction at month-end. Maximum loan value is $5,000. All loans subject to verification of information submitted including proof of employment, CDE CSESAP enrollment and loan department approval. Additional terms and conditions apply.

    Additional Examples**

    Monthly CSESAP Contribution

    $100.00 $200.00 $300.00 $400.00 $500.00

    Annual CSESAP Employee Contribution (10 months of contributions)

     

    $1,000.00

     

    $2,000.00

     

    $3,000.00

     

    $4,000.00

     

    $5,000.00

     

    100%** CSESAP Match by CDE

     

    $1,000.00

     

    $2,000.00

     

    $3,000.00

     

    $4,000.00

     

    $5,000.00

     

    Summer CSESAP Distribution to Employee

     

    $2,000.00

     

    $4,000.00

     

    $6,000.00

     

    $8,000.00

     

    $10,000.00

     

    Total Annual Interest Due to East County Schools

     

    $36.76

     

    $73.51

     

    $110.27

     

    $147.02

     

    $183.78

     

    Total Repayment of ECSFCU Loan

     

    ($1,036.76)

     

    $2,073.51

     

    $3,110.27

     

    $4,147.02

     

    $5,183.78

     

    Net Benefit to Employee $963.24 $1,926.49 $2,889.73 $3,852.98 $4,816.22

    **Examples above assume

    • July 31st distribution of Summer Assistance Program from the CDE,
    • $1.00 for $1.00 CSESAP match from California Department of Education (CDE), 2022 is anticipated to be $0.88
    • Completion of CSESAP program where ECSFCU monthly loan advance equals CSESAP employee contributions

    Contributions may be up to $5,000 per year

    Interest is paid monthly to ECSFCU at 8.00%APR APR = Annual Percentage Rate

    Loan Rates

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    Members LoveECSFCU!

    • ECS-logo

      My Loan Officer, Mireya, is truly an asset to ECSFCU. She is competent, articulate, sweet and compassionate. When there was an error in the payoff of my car, Mireya personally took a credit union check and drove it to the dealer to correct it, the same day. We are thankful for the time and effort she put into this important transaction.  That’s customer service, and she is leading the pack!

       

       

      Jack Charles, Grossmont High School District, retired