School’s Out Savings
School’s out. Your paycheck isn’t.
Summer should feel like a break — not a break from your budget.
That’s why we created the UMe School’s Out Savings, exclusively for school district employees!
Set aside money throughout the school year, earn an incredible 7.00% APY, and when summer arrives, so does your money — half on July 1 and the rest on August 1.
Because the last school bell shouldn’t mean the last paycheck U can count on until fall.
Save During the School Year. Get Paid During the Summer.
An Incredible 7.00% APY
U work hard for your money. Now your summer savings can work harder for U, earning 7.00% APY throughout the school year.
Save Up to $2,000 a Month
A little or a lot — U decide what works for your budget. Save up to $2,000 each month, with a maximum of $20,000 per year.
Two Summer Paydays
Here’s the best part. We’ll automatically send U half of your savings on July 1 and the rest on August 1, giving U money to count on during both summer months.
Made Just for School District Employees
Teachers are just the beginning. School’s Out Savings is for the people who teach, counsel, organize, maintain, lead, support and do everything else it takes to keep our schools going.
School’s Out Savings
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MAXIMUM MONTHLY DEPOSIT |
MAXIMUM ANNUAL DEPOSIT |
APY* |
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*APY = Annual Percentage Yield. APY is subject to change. APY assumes funds remain on deposit for the full dividend period. School district payroll direct deposit into a UMe account is required. Maximum monthly deposits are $2,000; maximum annual deposits are $20,000. Eligibility requirements and other terms and conditions apply. Please contact UMe Credit Union for complete account details. |
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MAXIMUM MONTHLY DEPOSIT $2,000 |
MAXIMUM ANNUAL DEPOSIT $20,000 |
APY* 7.00% |
Your Savings Are Safe at UMe
Your School’s Out Savings are federally insured by the National Credit Union Administration (NCUA) up to applicable limits.
The NCUA is an independent federal agency that provides this insurance at no additional cost to U.
So while you’re busy planning for summer, U can have peace of mind knowing your savings are protected.
From School Year to Summer in Three Easy Steps
Make UMe Home
Set up qualifying direct deposit with UMe to get started.
Save for Summer
Set aside up to $2,000 each month and earn 7.00% APY while U save.
Hello, Summer!
Half of your savings arrives on July 1. The rest arrives on August 1.
No complicated planning. U did the saving. Now go enjoy your summer.
open a School's Out Savings account
For the People Who Make Our Schools Happen
There are a whole lot of people behind every successful school year.
The teachers in the classrooms. The counselors helping students find their way. The office teams keeping everything moving. The administrators leading the way. The custodians and campus teams taking care of the places where learning happens.
School’s Out Savings is for all of U.
U spend the school year showing up for our students, our schools and our community. We wanted to create something that shows up for U, too.
So when that last bell rings, U can head into summer with a little more freedom, a little less financial stress — and money U already set aside waiting for U.
School’s Out Savings FAQ
School’s Out Savings is available to school district employees with school district payroll direct deposit coming into UMe.
No. School’s Out Savings is for all school district employees — teachers, counselors, administrators, office staff, custodians, campus staff and all the other people who help keep our schools running.
Yes. U must have school district payroll direct deposit coming into UMe to qualify. There is no minimum direct deposit amount required.
No. As long as U have school district payroll direct deposit coming into UMe, U can fund your School’s Out Savings however U choose.
U can deposit up to $2,000 per month, with a maximum of $20,000 in deposits per year.
No. The 7.00% APY is a variable rate and may change, but the School’s Out Savings Account will always earn our highest savings rate.
Your School’s Out Savings will automatically be distributed in two summer payments: half on July 1 and the remaining balance on August 1.
No problem! While School’s Out Savings is automatically set up for two summer distributions, it’s your money and U have access to it whenever U need it. If U would rather have the full remaining balance on July 1, U can simply transfer the rest of your funds after the first automatic distribution.
Absolutely. It’s your money, and U have access to it whenever U need it. There are no fees for withdrawing funds from your School’s Out Savings before the automatic summer distributions.
The July 1 and August 1 distributions happen automatically as part of School’s Out Savings. The account is designed to help U save during the school year and then make those savings available during the summer.
Your School’s Out Savings Account stays open, and U can start saving again for the following summer!
Ready for Summer?
U spend all year preparing students for what’s next.
Now U can prepare for what’s next, too.
Start saving during the school year and give future U something to look forward to.
School’s out. Your paycheck isn’t.