Teacher with students doing a science project in the classroom.

Savings Accounts for Educators

Savings Accounts for Educators


Dad and son on hilltop Save to Win

Savings Accounts for Educators


SESLOC Supports Central Coast educators.

As a credit union originally established by and for educators, we honor our roots in academics. That’s why we offer a dividend-earning savings account are designed especially for school employees who do not receive paychecks over the summer months.

School Employees Level Pay Account

How it works:

  1. Open this account between June 1 and October 31 and set aside funds each paycheck until summer.* 
  2. You’ll earn generous share certificate rates** with no monthly service charge.
  3. We automatically transfer funds to your checking account during non-paycheck months.
  4. The account automatically renews with your first deposit of the new school year. 

Direct Deposit is required to take advantage of this unique account that maximizes your earnings.

* Early withdrawal penalties apply to Level Pay account. Electronic deposits are required.
** Rates are variable and are subject to change without notice after the account is opened.
Open your Savings account

Not a Member? Join online in minutes.
Current members can open an account in Online Banking.

Or, call us at (805) 543-1816 or visit your nearest branch.
For additional information, see How to Join »


New to credit unions? Learn more about our philosophy and how your money stays local.

SESLOC Supports Local Classrooms

From the News+ Blog

Education Grants Continue to Support Learning Through the Pandemic

Education Grants Continue to Support Learning Through the Pandemic

The pandemic forced schools to shift learning from in-person, to remote, to back again — or in some cases, a combination of both. As local teachers adapted their lesson plans to face these unique challenges, SESLOC Education Grants provided funding to support innovation and expand supplies. Here’s how a few teachers recently used grants:

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Over $100,000 in Education Grants Awarded

Over $100,000 in Education Grants Awarded

In 2020, SESLOC reached a milestone, surpassing $100,000 in education grants awarded to local K-12 teachers. Each month since 2013, SESLOC has awarded education grants in amounts up to $500 for innovative and creative classroom projects and equipment that go beyond the usual classroom budgets.

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