[Update][Nationwide] Service Credit Union 3% APY On Balances Up To $3,000

Update 4/25/22: They also have a Primary Savings Account with 5% APY on balances up to 5% (ht Alex)

Offer at a glance

The Offer

Direct link to offer

  • Service Credit Union offers a Holiday Club account. This earns 3% APY on balances up to $3,000 with no requirements.

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees to worry about

Our Verdict

The primary savings account offers 5% APY on balances up to $500 as well. I can’t see these rates last long, especially as it’s available nationwide by joining the ACC for free but might be useful in the short term. I think most people would be better off just going for a savings bonus instead. If the rate does stay around long term then it’s obviously fantastic but I think the chances of that are low. You can view other high yield accounts by clicking here. There is also a $100 referral bonus.

 
    William Charles
  • On April 25, 2022, 14:44
Tags: High-Yield Accountsma high yield checkingnh high yield checking

View Comments (54)

  • I already have Primary Savings Account with them, If I open a "Holiday Club" account, would they pull chex again?

  • Is there anyone open this account with the HSBC credit card initial funding?
    If yes, the transaction was posted as purchase or cash advance?
    Many Thanks!

  • The account described is called the 'Holiday Club Savings'. It can only be opened if a 'Primary Savings' account is present, or is being opened at the same time. The 'Primary' savings account pays 4.889% dividends (interest) up to a balance of $500, any amount above will receive 0.25%.

  • You should sign up if you want Service CU to ask to see your SSN card and to provide 2 relatives who don't live with you and their addresses

  • FYI - As of 1-31-2022 there is now a monthly $10 inactivity fee. This can be avoided by calling customer service and talking to a rep at least once every twelve months. If you have an account that is more than a year old you will see a $10 fee on 2-1 and another on 2-28. I was able to get both reversed by calling up customer service and politely asking them to reverse it. Both fees were reversed and I am good for another 12 months. I will likely setup a yearly auto transfer of the some amount from each account to my checking to cover this.

    • To clarify, the fee schedule says the inactivity fee is "$10 each month once an account has been inactive for 12 months". They had an inactivity fee before too; the difference now is just that instead of charging $50 per year, they charge $10 each month.

  • I assume they are changing the statement cycles or the dividend payment schedule. I received dividends on 9/30, 10/08, and 10/31. Prior to that I always received them on the last day of the month. I did not receive any on 11/30. Anybody get anything from SCU explaining this (there's a good chance they sent something but I missed it)?

  • Service Credit Union no longer offers any referral bonuses, but everything else (Primary Savings for 5% and Holiday Club for 3%) is still in place

    • They still have a referral program ($75 for both people). "Promotion runs from May 10, 2021 to December 31, 2021"

  • Not earning 3% on their account for some reason. made a contact email asking why.

      • Its all good now, had the money in a wrong account type. Also if you havent already opened an account their referal bonus is still going ($75). If you need a referal I can send you one, contact me at: cameron DOT p DOT fraser AT hotmail DOT com

        • I didnt realize there was also a referal thread. I posted there instead but it wont let me remove this comment. @guest_1212348 I see you commented on both threads.

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