Account Information
We understand the importance of teaching sound saving practices. To help our young members learn about saving and make it exciting, we offer the FAT CAT Program. This program offers a special FAT CAT Share account where young members can watch their money grow, a quarterly newsletter with a coloring contest, and a dedicated website with fun games and learning tools.
Features
- For children age 12 and under who are eligible for membership1
- Must be joint with a parent, grandparent or other responsible adult1
- To open an account, the child and joint owner should visit a local branch2
- $5 minimum opening deposit
- No withdrawals allowed until the account reaches the regular $25 minimum balance, which must be maintained while the account is open3
- Dividends compounded daily and paid monthly4
- FAT CAT Goody Bag which includes a passbook for transaction records
- Quarterly Paw Prints newsletter
- Child eligible to receive $1,000 of Group Term Life Insurance at no cost; can be increased to $10,000 coverage for $18 per year 5
For rate information, please visit SECU’s Share and Deposit Rates page.
What is needed to open a FAT CAT Share Account:
- Taxpayer Identification Number (SSN, ITIN, or EIN)
- Proof of identity (government issued photo ID, Social Security card, or birth certificate) may be required
- Applicable documentation for proof of eligibility
- Initial deposit via cash or check
Required documentation for membership
Eligibility criteria
Required documentation
Employees of the State of North Carolina and
related entities
Must bring one of the following:
- Paystub
- W-2
- Verification of employment by calling member’s payroll office
State of North Carolina retirees
Retirement number
Immediate family of an existing member
Account number of existing member
Persons sharing an economic unit with a member
Current utility bill or similar document
proving shared household with a member
1 All account holders must be members.
2 A parent’s or legal guardian’s signature may be required to sign on the minor’s behalf. If a parent or legal guardian is not present at account opening, a form can be mailed. Account opening can be completed once the form is returned with the required signature.
3 Withdrawals are allowed when the balance exceeds $25.
4 Dividend rate and annual percentage yield (APY) are subject to change daily at the discretion of the Board of Directors.
5 FAT CAT and Zard Group Term Life Insurance is provided by SECU Life Insurance Company. SECU Life Insurance Company is a wholly-owned subsidiary of State Employees’ Credit Union. Life Insurance is not guaranteed by, or an obligation of, any credit union and is not insured by NCUA. Insurance representatives are licensed to sell in North Carolina only.
2 A parent’s or legal guardian’s signature may be required to sign on the minor’s behalf. If a parent or legal guardian is not present at account opening, a form can be mailed. Account opening can be completed once the form is returned with the required signature.
3 Withdrawals are allowed when the balance exceeds $25.
4 Dividend rate and annual percentage yield (APY) are subject to change daily at the discretion of the Board of Directors.
5 FAT CAT and Zard Group Term Life Insurance is provided by SECU Life Insurance Company. SECU Life Insurance Company is a wholly-owned subsidiary of State Employees’ Credit Union. Life Insurance is not guaranteed by, or an obligation of, any credit union and is not insured by NCUA. Insurance representatives are licensed to sell in North Carolina only.
