Schools Financial Credit Union is pleased to offer deferred compensation, a tax-deferred savings plan for eligible employees of participating school districts. The taxes on your deposits and earned dividends are usually deferred until you withdraw your funds. There are no sales fees if you select the Credit Union investments, so you’ll enjoy higher returns on your investments. There is an early withdrawal penalty for certificates withdrawn before the maturity date for a reason other than a hardship withdrawal or an approved benefit election request. Sales fees may apply with the purchase of mutual funds. Contact your registered Schools Financial Services Corporation representative located at your Credit Union with questions regarding mutual funds. Please consult a tax advisor for more information regarding tax benefits.
Contact the Credit Union at 916-569-5400 (Sacramento area) or 800-962-0990 to see if your employer participates in this program.