Teach good savings habits early...

Every dollar you save is one step closer to reaching your goals. 
We will provide you a Goal Savings Passbook to track your progress. A Goal Savings Passbook is a fun way to teach good saving habits.  Set a goal to buy a toy, computer, gaming device.   Save for a trip, party or charity.  We'll give you a passbook to track your savings and help you celebrate when you reach your set goal. 

Saving some extra change from around the house?
We don't have a coin machine here, but we will reimburse you for change conversion you've completed at any CoinStar machine (generally found in grocery stores).  We will reimburse you the 9.8% fee, up to $10 for each transaction.  Just bring in the grocery store receipt (it will say CoinStar) and deposit for your Sand Dollar Account.  We'll do the rest. 

Now you can pay for college the smart way with three great repayment options and competitive interest rates.

The Smart Option Student Loan features and benefits:

• New interest rate type for Academic Year 2012-13.  We now offer competitive fixed interest rates in addition to our low variable interest rates providing even more choice and flexibility.
• Borrow up to 100% of school certified education costs (minimum $1,000)
• Multiple in-school repayment options available
• Borrower benefits available - like rewards and interest rate reductions
• Rates that reward creditworthy borrowers
• Applying with a creditworthy cosigner may help you qualify and/or receive a lower rate
• Fast Online Application.  Our easy-to-complete application takes about 15 minutes.  It's quick and easy.
• 24/7 online account management
• No prepayment penalty

Smart Option Student Loan® by Sallie Mae® is an ideal solution to help bridge that gap between federal loans and the cost of your education expenses. To learn more or to apply, please get started here.

South Bay Credit Union offers Uniform Gift to Minors Accounts (UGMAs) and Uniform Transfer to Minors Accounts (UTMAs) which allow you to invest under a child's name with an adult as custodian. For the most part, any adult can also be the custodian of the account.  Please review California Uniform Transfer to Minors Act for details. 

• Unlimited Investments - There is no limit to the amount of money that can be invested in an UGMA or UTMA, so you can use it to cover a significant portion of your child's college costs.
• Tax Advantages - Because the first several hundred dollars of earnings are not taxed, and a child's tax rate – 10% for most minors – is usually lower than an adult's, UGMAs and UTMAs can produce significant tax benefits for your family. Please consult with your tax advisor.
• Flexible Contributions - Any concerned adult – a grandparent, aunt, uncle, or godparent, for example – can establish an UGMA or UTMA.

• Assets Might Not Be Used for College - Once the child takes control of the account, the child may then use the money for purposes other than education – regardless of the custodian's wishes. 
• May Reduce Financial Aid - If your family is applying for need-based financial aid, having an UGMA or UTMA may reduce the size of the package.
• Using the Money - If the child begins college before reaching the age when the custodianship ends, money in an UGMA or UTMA can be used to pay higher education costs, as long as the custodian agrees. When the child reaches the age when custodianship terminates, however, he or she takes complete control of the assets and can use them for any purpose.  When the account is still under the custodian's control, withdrawals from an UGMA or UTMA can be used to pay for special expenses – those beyond the normal costs of living. The custodian must agree to these withdrawals, however, and they must be for the child's benefit. There is no penalty if the proceeds are used to pay for non-educational expenses, regardless of the child's age.

• Child must be eligible for membership at the credit union, which includes family of existing account holder.
• Child must open Sand Dollar Savings Account first - only $5 to open, no minimum balance requirements, no monthly fees
• No minimum required for Coogan Account
• We will provide you the required "Proof of Account" statement the same day the account is opened
• Ask us about transferring existing Coogan Accounts from other financial institutions to us

Visit Pocket Sense for information about money...sponsored by the National Credit Union Administration.