The Ins & Outs of Saving
Getting educated is the first step in successful saving — and we can help. We believe it’s important that you understand how to maximize your efforts, in addition to putting money away for a rainy day.
Select a Service:
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A Penny Saved
Putting money away today can serve as a protective cushion in the future. Since unexpected expenses and major purchases occur from time to time, it’s wise to have money in savings to back you up if you need it.
These tips can help you get started:
- Think small. Every dollar you save now will add up in the future, making life easier down the road.
- Set goals. Identify short-term, intermediate and long-term goals for yourself. These will help you successfully budget and manage your money in the future.
- Pay yourself first. Saving doesn’t mean you can’t spend, just make sure you pay yourself first. You can do this by putting a portion of everything you earn — whether allowance, gifts or a paycheck — in a savings account.
- Start early. And the earlier, the better. The younger you are when you start saving, the longer your money stays in your savings account collecting interest.
Choose a Product:
Minimum Balance
Rate Type
Fixed or Variable
Dividend Rates
APY**
Annual Percentage Yield
Regular Share Membership $5
Minimum Balance
$5.00
Rate Type
Variable
Dividend Rates
0.250 %
APY**
0.250 %
Special Share (Savings) $0
Minimum Balance
$0.00
Rate Type
Variable
Dividend Rates
0.250 %
APY**
0.250 %
Youth Certificate 6 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
2.274 %
APY**
2.300 %
Youth Certificate 12 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
2.518 %
APY**
2.550 %
Youth Certificate 18 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
2.762 %
APY**
2.800 %
Youth Certificate 24 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
4.162 %
APY**
4.250 %
Youth Certificate 36 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
3.295 %
APY**
3.350 %
Youth Certificate 48 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
3.392 %
APY**
3.450 %
Youth Certificate 60 Month Term
Minimum Balance
$500.00
Rate Type
Fixed
Dividend Rates
3.489 %
APY**
3.550 %
Smart Start Certificate 12 Month Term
Minimum Balance
$50.00
Rate Type
Fixed
Dividend Rates
2.518 %
APY**
2.550 %
Additional Information
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Regular Share Membership
- The account you get when you first become a Suncoast member, your Share Savings requires only a $5 opening deposit and gives you access to all other Suncoast products and services.
- This traditional savings plan pays competitive dividends that will help your money grow.
- Dividends are compounded monthly and credited monthly.
- You must maintain a balance of $5 to stay a member
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Special Share (Savings)
- Save for special occasions such as vacations, holiday spending or for anything you want to keep separate from your other savings accounts.
- You'll earn dividends at the regular share rate and there's no minimum balance requirement.
- Dividends are compounded monthly and credited monthly.
- On variable rate accounts the rate may change after account opening.
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Youth Certificate
- Penalty will or may be imposed for early withdrawal.
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Smart Start Certificate
- An easy way to start a regular savings plan - get started with only a $50 opening deposit and a commitment to at least $40 per month made by payroll deduction or automatic transfer. Within 12 months, you'll have saved $500 which you can then roll over into a traditional certificate account.
- Suncoast members may open a new Certificate Account by phone with the Member Care Center, in any branch or by sending secure email through SunNet Online Banking. If emailing, include the account from which the funds are to come, and whether you wish to have the dividends added to the certificate or transferred to another deposit account.
- A penalty will or may be imposed for early withdrawals: 90 days of dividends on terms of 12 months or less; 180 days of dividends on terms longer than 12 months.
- If the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
- Dividends are compounded daily and credited monthly.
Choose a Product:
Initial Deposit
Account Balance
Rate Type
Fixed or Variable
Dividend Rates
APY**
Annual Percentage Yield
Uniform Transfers to Minors $0
Initial Deposit
$0.00
Account Balance
$0.00 - $999.99
Rate Type
Variable
Dividend Rates
0.150 %
APY**
0.150 %
Uniform Transfers to Minors $1,000
Initial Deposit
$0.00
Account Balance
$1,000.00 and greater
Rate Type
Variable
Dividend Rates
0.499 %
APY**
0.500 %
Additional Information
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Uniform Transfers to Minors
- A custodial account, established under the Florida Uniform Transfers to Minors Account, UTMA can be used as a savings, checking, certificate or money market account and allows you to permanently transfer funds to a minor.
- Funds withdrawn can only be used for the designated minor.
- Dividends are compounded monthly and credited monthly.
Student-Run Branch Program
At Suncoast, we want all our members to be confident in managing and understanding finances — especially our youngest members. That’s why we created a student-run branch program. This unique program trains select students to perform marketing and transaction duties within more than 30 school branches throughout six local counties. Students work together in a team to spread awareness of credit unions and the services they provide to teens. Students gain a greater understanding of managing finances and budgeting — invaluable skills as you move into the future.
Click on the Contact Us button below to get more information about starting a branch program in your school.
