ACH Return item - $25.00

ACH Stop Payment fee - $25.00/item/mo

Balance Inquiry Fee - $2.00

Check Copy - $5.00

Consumer Loan late fee - $20.00

Consumer & Auto Loan Application fee - $20.00

Copy of paid draft - $2.00

Credit Report - $15.00

Credit and Financial Counseling - $50.00

Debit Card Replacement Fee $10.00

Deposit Return Item - $15.00

Dormant Account/ Share (24 mos. Inactive) - $2.00/mo

Dormant Account/ Checking(60 Days Inactive) - $3.00/mo

Early Closure Fee - $10.00

Excessive Withdrawal Fee (After 3rd/mo) $5.00/per check

Faxes $1.00 per page

Garnishments/Levy/Citations - $50.00

Home Buyer education Program enrollment fee - $125.00

IRA annual maintenance fee - $15.00

IRA Transfer/Institution - $25.00

Joint Loan Application fee - $30.00

Manually paid draft or ACH item - $5.00

Membership Fee - $10.00

Second Chance Checking account counseling - $50.00

Service Charge/Personal Checking (Bal. < $50) - $5.00/mo

Service Charge/Business Checking (Bal. < $1K) - $10.00/mo

Service Charge/Savings (Bal. < $50) - $5.00/mo

Money Order - $ 1.00/check

Official Check (to a third party) - $5.00

Overdraft (NSF) - $25.00

Photocopies - $0.25/page

Returned mail fee - $5.00

Research fee - $25.00/hr.

Share draft transfer sweep(max. 4 per mo.)- $5.00

Share Secured Loan Application fee - $10.00

Share Draft/ACH Stop payment - $25.00/item

Skip Payment fee $25.00

Sm. Bus. checking service fee (below $1,000) - $10.00

Sm. Bus. Loan Application fee - $25.00

Statement Copy - $1.00 per page

Stop payment/share draft or - $25.00

Telephone transfer - $2.00

Teller Check Stop Payment - $35.00

Verification of Deposits - $5.00

Western Union - $20.00

Wire Transfer Incoming - $15.00

Wire Transfer Outgoing - $20.00



An account is considered dormant if for 2 years no withdrawals or deposits, other than credited dividends, have been made to the account, we have received no communication from you about any of your accounts, and your account statements have been returned for an incorrect address.

A checking account is considered dormant if there have been no activity(deposit of withdrawal) for 60 days.

Effective 4/1/2016

Fees subject to change without notice




What’s a Credit Union?

A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and hire’s a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who owns a credit union?

Most financial institutions are owned by stockholders, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.

How did credit unions start?

The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.

What is the purpose of a credit union?

The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to stockholders, credit unions return earnings to members in the form of dividends or improved services.

Are savings deposits insured?

Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.

Who can join a credit union?

A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.

What is your field of membership/who can join SSCFCU?

Membership in South Side Community FCU is open to individuals or businesses on Chicago’s south side, from 22nd Street on the North to the city limits on the South and from the Lake on the East to Western Avenue on the West. You can live, work, worship, attend school or belong to an organization that is within this boundary area.

What is the minimum opening deposit to join?

Minimum opening balance to open a savings account is $50.00 and dividends are paid quarterly on account balances of $100.00. There is a one-time membership fee of $10.00 upon opening your savings account.

When can I apply for a loan?

Once you become a member you are eligible to apply for a loan. To apply for a short term Payroll Advance Loan Plus (PAL PLUS) and the regular Payroll Advance Loan (PAL), you will have to be a member for 30 days and to apply for a Signature Loan after you have been a member for 3 days. Once you apply for the loan, all loans are reviewed by the Credit Committee for approval.

Is there a monthly service fee on savings accounts?

There’s no service fee if you have total balances in all your SSCFCU accounts of $50.00 or more and you get three free withdrawals per calendar month.

Are checking accounts available at SSCFCU?

Checking Accounts is for you. Unlimited check writing, no minimum balance required, no monthly service charge and a low opening balance of $50.00 and $100.00 in your savings account and no record on ChexSystems.

What online services are offered to members?

Here are a few of the things you can do with Home Banking: •Perform account inquiries •Download account statements •View checks that have cleared •Set up automatic transfers •Name your own accounts •Obtain info on dividends and interest •Order checks •Stop payment on a check(s) •Make account transfers and loan payments

Are Visa® Check Cards (debit cards) offered to members?

Yes, every checking account comes with free Visa Check Card. Debit cards are only available with checking accounts not savings accounts.

Do I need to be a member before I can apply for a loan?

Yes, you will need to be a member to apply for a loan.

Does SSCFCU offer home loans?

No, we do not offer either traditional home loans as well as home equity loans. Visit our website for more information on CU Members Mortgage.

How do I add a beneficiary to my account?

On page 2 of the membership application there is an area for you to list the beneficiary for your account.


How Credit Unions Differ From Banks

bankbuildingCredit unions are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits. Like banks, credit unions accept deposits, make loans, and provide a wide array of other financial services. But as member-owned institutions, credit unions focus on providing a safe place to save and borrow at reasonable rates. Unlike banks, credit unions return surplus income to their members in the form of dividends.


Favorable Rates

Fees and loan rates at credit unions are generally lower, while deposit dividend and interest rates are generally higher than banks and other for-profit institutions. Credit unions are democratically operated by its members (those joining the credit union), allowing account holders an equal say in how the credit union is operated, regardless of how much they have on deposit at the credit union.  


Membership Access

The credit union’s Board of Directors, who are elected by the members, decide who the credit union will serve. In order to join a credit union, potential members must be part of a field of membership, which is typically based on one’s employment, community, or membership in an association or organization. As credit unions serve members of modest means, many will actively expand their field of membership to serve other select groups and/or geographic areas when identified as needing access to affordable financial services. Credit unions designated low-income predominately focus on providing financial services at reasonable rates in areas that are often underserved or unserved by banks.


NCUA Share Insurance Coverage

Federally insured credit unions are insured by the National Share Insurance Fund (NCUSIF).  The NCUSIF is operated by the National Credit Union Administration (NCUA), a federal government agency, backed by the full faith and credit of the United States government. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 increased the maximum share insurance coverage at all federally insured credit unions to $250,000. Account balances in excess of $250,000 at a federally insured credit union can be fully insured if properly structured.

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South Side Community Federal Credit Union

5401 S. Wentworth Avenue Suite 25
Chicago, IL 60609

Phone: 773-548-5500

Hours of Operation

Mon & Weds 9:00 AM to 5:00 PM

Friday 10:00 AM to 6:00 PM

Saturday 10:00 AM to 2:00 PM

Closed Tuesdays & Thursdays