NOVEMBER 2015
scfederal.org
Holiday Cards Benefit MUSC
Childen’s Hospital Fund
From November 9 through December 24, 2015, financial centers
in the Charleston and Georgetown areas will sell holiday cards to
support MUSC Children’s Hospital Fund’s Annual “Kids Helping
Kids” Holiday Card Project.
This year, South Carolina Federal Credit Union is proud to sponsor
the card featuring original artwork by McKenzie Evans, age 4, of
Scranton, SC.
Holiday cards are $15 per pack of assorted cards. One hundred
percent of funds from sales of the holiday cards benefit the campaign
for the MUSC Shawn Jenkins Children’s Hospital. To purchase
holiday cards, visit any one of South Carolina Federal’s convenient
Charleston or Georgetown financial centers or place an order at
musckids.org/holidaycards.
All your credit union savings accounts are federally insured
to at least $250,000 through the National Credit Union Administration (NCUA).
For a detailed explanation of insurance
NCUA’s Electronic Share Insurance
coverage, visit
Calculator at webapps.ncua.gov/ins.
Earn Bonus UChoose Rewards® Points
While Shopping this Holiday Season
Make the most of holiday shopping this year by taking advantage of our Visa® Platinum Credit
Card points promotion. With two offers this season, we can help you turn shopping for others
into rewards.
•D
ouble Rewards – Earn double UChoose Rewards points on all purchases from
November 1 through December 31, 2015.*
• Black Friday–Cyber Monday Triple Rewards – Earn triple UChoose Rewards points on
all purchases from November 23 through December 1, 2015.*
With two ways to earn points, you’ll accumulate points quickly to redeem for things that are
a gift for you, such as airline tickets, rental cars, merchandise, and gift cards to restaurants
and stores. To register and to check out the merchandise, gift cards, and travel options, visit
uchooserewards.com.
*To earn points on your Visa Platinum Card, you must register your card. If you have not already done so, please visit
uchooserewards.com to register today.
Holiday Closure
South Carolina Federal Credit Union financial centers will be closed Wednesday, November 11 (Veterans Day), Thursday,
November 26 (Thanksgiving Day), Friday, December 25 (Christmas Day) and Friday, January 1 (New Year’s Day).* Financial
centers will close at 1:00 p.m. on Thursday, December 24 (Christmas Eve). Enjoy around-the-clock access to your South
Carolina Federal accounts through our conveniently located ATMs, Allpoint® ATMs, Phone Banking, Online Banking,
Mobile Banking, Text Banking, iPhone®, iPad®, and Android™ apps.
*The October 2015 InBalance incorrectly stated we would be closed at 1:00 p.m. on New Year’s Eve, December 31. The credit union will be open normal business
hours on New Year’s Eve, and closed on New Year’s Day. We apologize for any confusion this may have caused.
Federally insured by NCUA
scfederal.org
Consumer Rate Shop
DIVIDEND RATES
A Message from South Carolina Financial Solutions™, LLC
Understanding ACA Individual Medical
Insurance Open Enrollment and the
Annual Election Period for Medicare
Rates are quoted as Annual Percentage Yields (APY)
Premium Checking ($2,500–$9,999.99)
0.05% APY
Premium Checking ($10,000 or more)
0.10% APY
Share Savings (min. balance $150)
0.05% APY
Money Market ($50,000–$99,999.99)
0.20% APY
Money Market ($100,000 or more)
0.20% APY
The annual Open Enrollment Period (OEP) for health insurance was introduced
in 2013 under the Affordable Care Act (ACA). The Annual Election Period (AEP)
for Medicare is a similar but separate timeframe. During AEP, Americans age
65 and older (or those who are younger than 65 but meet criteria for certain
disabilities) can elect to add or change their Medicare coverage. The simplest
way to explain the difference is that the ACA Open Enrollment Period is for
those under 65 years old and the Medicare Annual Election Period is, for the
most part, available to individuals who are 65 or older.
SHARE CERTIFICATE RATES
Open Enrollment for ACA health insurance began on November 1, 2015 and
will run through January 31, 2016 for individuals and families who do not
already have qualifying coverage, such as employer-sponsored health insurance.
Subsidies are available to some Americans in the form of premium tax credits,
with amounts determined by household income and state of residency.
When you shop for a 2016 plan, you will have the opportunity to enter your
information to determine if you are eligible for a government subsidy. It is
important to remember that if you do not have health insurance and do not
meet the allowed exemptions, you will face a tax penalty that increases each
year. For 2016, the tax is $695 per adult and $347.50 per child (up to $2,085
for a family) or 2.5 percent of your annual income, whichever is greater.
LOAN RATES
The Annual Election Period (AEP) for Medicare began October 15, 2015 and
ends on December 7, 2015. For Medicare, enrollment in Medicare Part A
is automatic when an individual reaches the age of eligibility. Part A covers
inpatient hospital stays, care in a skilled nursing facility, hospice care and
some home care. The other parts of Medicare are optional and you should
spend time evaluating your need for each prior to AEP. Medicare Part B is
medical insurance that covers certain doctors’ services, outpatient care, medical
supplies and preventive services. Medicare Part D adds prescription drug
coverage to your Medicare benefits. And Medigap, or Medicare Supplement
Insurance, helps pay some of the health care costs that the other parts of
Medicare do not cover.
South Carolina Financial Solutions™, LLC now has its own Insurance
Exchange/Marketplace, an easy-to-use online platform which gives you access
to a vast portfolio of health insurance and Medicare plans from a variety of
nationally recognized carriers. It is backed by a team of licensed and Medicarecertified insurance consultants. This team of consultants is available via phone
call or online chat to answer all of your questions while helping you select the
best option to fit your needs and lifestyle. To get started, please visit
scfs.saleslinkportal.com or call 844-206-3744.
Rates are quoted as Annual Percentage Yields (APY)
Regular
12 months1
(min. $500)
Jumbo
12 months1
($50,000+)
Premium Share2
60 months
(min. $500)
0.15% APY
0.25% APY
1.10% APY
Minimum balance required. Fees could reduce earnings. Penalty for
early withdrawal.
1 Additional
2Premium
terms from 3 to 60 months are available.
Share Certificate only available with Premium Checking account.
Rates are quoted as Annual Percentage Rates (APR)
Vehicle Loans
New – As low as 1.99% APR3
Used – As low as 1.99% APR3
Visa® Platinum
As low as 8.25% APR4
Fixed Rate
Home Equity Loan
Call us or visit our website
for current rates
Home Equity Line of Credit
Call us or visit our website
for current rates
Mortgage
Call us or visit our website
for current rates
First mortgages and refinances
3Subject
to credit review and approval. Your actual rate depends on
term, creditworthiness, and collateral value. Rate offer is subject to
change without notice.
4APR is based on your creditworthiness. Current APR ranges from
8.25% to 17.90% and will vary with the market based on the Prime
Rate. Up to 2% Foreign Transaction fee applies.
Rates are current as of October 29, 2015, and are subject
to change daily. Please contact South Carolina Federal for
applicable fees and terms. Call 843-797-8255 or
800-845-8355 for other current loan and deposit rates or
visit scfederal.org.
CONTACT INFORMATION
Financial Center Hours
Lobby
Monday – Friday Drive-up Windows
Monday – Thursday Friday
Contact Center
Monday – Friday 9:00 a.m. to 5:30 p.m.
8:30 a.m. to 5:30 p.m.
8:30 a.m. to 6:00 p.m.
8:30 a.m. to 5:30 p.m.
843-797-8300 (Charleston) 803-738-8300 (Columbia)
843-545-8300 (Georgetown) 800-845-0432 (Nationwide)
Email: [email protected]
Phone Banking (24-hour telephone account access)
843-797-8255 (Charleston) 800-845-8355 (Nationwide)
SOUTH CAROLINA FEDERAL STATS
As of September 30, 2015
Assets$1,387,679,280
Loans to Members
$1,053,129,324
Member Savings
$1,109,055,606
Members150,470
South Carolina Financial Solutions, LLC is a member of South Carolina Federal Credit Union’s
family of service organizations.
Christmas Club Funds Transfer
Christmas Club funds automatically transferred to members’ savings accounts on
November 1. You can set up a Christmas Club savings account anytime throughout
the year with an automatic transfer, so you’ll barely notice the money coming out
of your account. It’s a great way to reach your holiday savings goals. To open an
account simply stop by a financial center or visit scfederal.org for details.
InBalance is published monthly for members of
South Carolina Federal Credit Union. Address
comments and suggestions to:
South Carolina Federal Credit Union
Marketing Department
P.O. Box 190012
N. Charleston, SC 29419-9012