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Saco Valley Credit Union
Mobile Banking App

Free - On the App Store


Saco Valley Credit Union
Mobile Banking App

Free - On the App Store

Open your account! 207-286-3638

Checking Accounts

We care [about keeping checking free].

Open your account! 207-286-3638

Free Checking, Simply

Simple, easy-to-use, free checking accounts for your daily transactions.

  • No minimum balance requirements
  • No monthly maintenance fees
  • Home & Mobile Banking (with mobile deposit)
  • Checkbook and/or EMV chip debit card
  • Earn more with Cash Back Checking

Cash Back Checking

Sign up for Saco Valley Credit Unions Cash Back Checking Account! Simply meet the qualifications each month for your cash back reward. If you don’t meet the qualifications, don’t worry! This checking account is still free, and you can get back to earning rewards the next month.

When qualifications are met each month:

  • Earn up to $8 per month in cash back (2% cash back on debit card purchases, up to $8 monthly)
  • Nationwide ATM refunds up to $25 per month

Monthly Qualifications

  • 12 Debit Card Purchases
  • Online or Mobile Banking Log-On
  • Sign up for and receive eStatements
  • Have at least 1 ACH withdrawal

Click here to view full terms and conditions of this account.

Open your Cash Back Checking account online today! Already have an SVCU checking account you want to switch to a cash back checking? Contact us and we will be happy to help.


Savings & Checking Rates

TypeMinimum Balance RateAPY*
Share $25.00 (minimum) - $9,999.990.10%0.10%
Share$10,000 and above ($25.00 membership share required)0.15%0.15%
Whiz Kid Share$25.00 (minimum) - $999.991.50%1.51%
Whiz Kid Share$1,000.00 - $9,999.990.10%0.10%
Whiz Kid Share$10,000 and above0.15%0.15%
Share Draft (Checking)NA0%0%
Teen CheckingNA0%0%
IRA ClubNA0.50%0.50%
Christmas or All-Purpose Club$25.00 - $9,999.990.10%0.10%
Christmas or All-Purpose Club$10,000 and above0.15%0.15%
High-Yield Savings$1,500.00 (minimum) - $9,999.990.60%0.60%
High-Yield Savings$10,000.00 - $24,999.991.00%1.01%
High-Yield Savings$25,000.00 - $49,999.991.10%1.11%
High-Yield Savings$50,000.00 - $99,999.991.25%1.26%
High-Yield Savings$100,000.00 and above1.45%1.46%

APY (Annual Percentage Yield) effective 11/01/2023 and is subject to change without notice.
In this disclosure the reference to “We”, “Us”, “Our” and “Credit Union” mean Saco Valley Credit Union. The words “You” and “Your” mean each person applying for and/or using any of the services described herein. “Account” means the Share account(s) established for you as set forth herein. For joint accounts, read singular pronouns in the plural.
Rate Information. For dividend bearing accounts, the dividend rate and APY may change every dividend period based on the determination of the Credit Union Board of Directors. Savings Accounts are subject to a Tiered Rate. Your account will earn dividends according to the daily balance in your account related to the table above.
Minimum Balance Requirements. To open any account, you must deposit or already have on deposit at least the par value of one full share in any account. The par value amount is $25.00. The minimum balance requirements applicable to each account are stated above. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield.
Nature of Dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Compounding and Crediting. The dividend period is monthly from the 1st day of each month to the last day of each month and dividends will be calculated on your average daily balance for each day on which your balance equals or exceeds the required minimum balance. Dividends will be compounded and credited to your account.
Balance Computation Method. For dividend-bearing Accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in Your Account each day.
Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Fees and Charges. Any fees and charges applicable to Your Account are disclosed separately in the “Fee Schedule”.
Fees and/or withdrawals may reduce earnings.

Open your free checking account today!

Open your account online today!

We've been banking with SVCU for over 20 years. The staff treats its members like family and will help every way they can. Our mortgage, business accounts, retirement plans and personal accounts are all with the credit union because we can trust that they will be there for us when we need them.

Heather P., Saco, ME

Frequently Asked Questions

SVCU can create a debit card for you at our branch at 500 Main Street in Saco for your convenience. If a branch isn't convenient for you, we can mail it to the address on your account. So whether you just opened a checking account, or the card was lost, stolen or damaged, you can rest assured you will have debit access to your cash in no time!
Re-ordering checks is easy. Visit our checking account partner Harland Clarke to log in to order new checks!
Your Saco Valley Credit Union checking account is free - meaning there are no maintenance fees and there is no minimum balance requirement.
Your balance will be shown on your monthly statement, as well as in Online and Mobile Banking.
No! Write as many checks as you would like!

What It’s Like When Your Credit Union Cares

Financial Confidence

We are here to listen to your goals, needs, and struggles and then make recommendations for you that won’t break the bank!


Banking should be easy! With three branches and online and mobile apps, we try to make banking easy and convenient for you.


Sometimes life throws us a curve-ball and we need help. Saco Valley is your financial family. We want to help and will often have the tough conversations needed to help you get through a tough time.