What is a Cooperative credit union?

• Meet Your Watchdog!
• Newsletters
• Community
• Hero Loans
• Events
• Help
• Current Fraud Alerts
• Frequently Asked Questions
• Check Loan/Account Application
  
  Accessible Menu - Main Menu - Checking & Savings
• Mortgages
• Loans
• Credit Cards
• Services
  
  - Compare Checking Accounts
• Free Checking
• Interest Checking
• Student Checking
• Health Savings Checking
  
  - Compare Savings Accounts
• Regular Savings
• Money Market
• My Way Savings
• SCCU Savings Cents
• Youth Savings
• Christmas Club Savings
  
  - Zelle ®- Certificates of Deposit (CDs)
  
  - Debit Card Services
  
  - IRA Options
• Individual Retirement Accounts (IRAs).
• IRA CDs
  
  - Switch Kit
  
  - Existing Account Help.
• Order Checks
  
  SCCU Routing Number: 263177903
  
  use your SCCU Visa® & reg; Debit
  
  Card.
• Mortgage Products.
• No Deposit Mortgage.
• Hero Loans.- No Closing Costs Mortgage.- Conventional Fixed-Rate Mortgages.
• Construction-to-Permanent Loans.
• FHA Home Loans .- VA Mortgage.
  
  - Jumbo Home Loans.
• Condo Loans. -Adjustable-Rate Mortgage.- Lot Loans -Home Equity Loans.- Home Equity Line of Credit.- Fixed-Rate Home Equity Loan( second Mortgage )- Mortgage Refinance- Home Buying Center -Estimate My
  
  Mortgage Payment -Express Mortgage Originators - Existing Mortgage Help.
• Escrow Assistance. -Filing a Home Insurance Claim.- HELOC Charge Card Account Access- Check Mortgage Application Status
  
  - Check Home Equity
  
  Application Status All New 10/1 ARM- Auto/Vehicle Loans.- Auto Loan Pre-Approval. -Auto Loan Refinance- Recreational Vehicles.- Boat and RV Loans
  
  . -Motorcycle & Scooter Loans - Personal Loans.
• Share Loans
  
  & CD Secured Loans.- Signature Personal Loans- Auto Buying Center -Request More Product Info- Existing Auto Loan Help.
  - Skip Your Auto Payment- Rates. -Hero Loans Our Car Buying Center provides pointers to make your experience as easy as
  possible.
• Credit Cards.
• Visa Signature ®.
• Visa ® Platinum . -Visa ® Low Rate
  
  . -Visa ® Secured.- Visa ® Student- Report a Lost or Stolen Card- Manage Cards -Existing Visa ® Credit
  Card Help -Travel Notice
  
  & Tips -TCM Bank MasterCard Access- Rates
  
  - Check Application Status
  
  With low variable rates, digital wallet payment choices, and no annual fees, members conserve more with an SCCU Visa® & reg; charge card.
  
  - Digital Banking.
• Online Banking.
• Mobile Banking.
• Digital Wallet.
• Mobile Wallet Loan Payments.
• Zelle ®- Insurance.
• Auto Insurance & Extended Warranty.
• TruStage Auto & Home Insurance.
• Credit Life & Disability
  
  - Business Services
  
  - Financial Wellness.
• Fraud Prevention Center.
• Financial Calculators.
• Articles
  
  - Member Discounts
  
  with Mobile Deposit in the SCCU Mobile app.
  
  - Checking & Savings - Compare Checking Accounts.
• Free Checking.
• Interest Checking.
• Student Checking.
• Health Savings Checking.
• Compare Savings Accounts.
• Regular Savings.
• Money Market.
• My Way Savings.
• SCCU Savings Cents.
• Youth Savings.
• Christmas Club Savings.
• Zelle ® . -Certificates of Deposit (CDs).
• Debit Card Services.
• IRA Options.
• Individual Retirement (IRAs).
• IRA CDs.
• Switch Kit.
• Rates.
• Existing Account Help.
• Order Checks.
• Check Application Status
  
  - Mortgage Products.
• No Deposit Mortgage.
• Hero Loans.
• No Closing Costs Mortgage.
• Conventional Fixed-Rate Mortgages.
• Construction-to-Permanent Loans.
• FHA Home Loans.
• VA Mortgage.
• Jumbo Home Loans.
• Condo Loans.
• Adjustable-Rate Mortgage.
• Lot Loans.
• Home Equity Loans.
• Home Equity Credit Line.
• Fixed-Rate Home Equity Loan (second Mortgage).
• Mortgage Refinance.
• Home Buying Center.
• Estimate My Mortgage Payment.
• Express Mortgage Originators.
• Existing Mortgage Help.
• Escrow Assistance.
• Filing a Home Insurance Claim.
• HELOC Credit Card Account Access.
• Rates.
• Check Mortgage Application Status.
• Check Home Equity Application Status
  
  - Auto/Vehicle Loans.
• Auto Loan Pre-Approval.
• Auto Loan Refinance.
• Recreational Vehicles.
• Boat and RV Loans.
• Motorcycle & Scooter Loans.
• Personal Loans.
• Share Loans & CD Secured Loans.
• Signature Personal Loans.
• Auto Buying Center.
• Request More Product Info.
• Existing Auto Loan Help.
• Skip Your Auto Payment.
• Rates.
• Hero Loans.
• Check Application Status
  
  - Credit Cards.
• Visa Signature ®.
• Visa ® Platinum.
• Visa ® Low Rate.
• Visa ® Secured.
• Visa ® Student. -Report a Lost or Stolen Card.
• Manage Cards.- Existing Visa ® Credit Card Help.
• Travel Notice & Tips.
• TCM Bank MasterCard Access.
• Rates.
• Check Application Status
  
  - Digital Banking.
• Electronic banking.
• Mobile Banking.
• Digital Wallet.
• Mobile Wallet Loan Payments.
• Zelle ®.
• Insurance.
• Auto Insurance & Extended Warranty.
• TruStage Auto & Home Insurance.
• Credit Life & Disability.
• Business Services.
• Financial Wellness.
• Fraud Prevention Center.
• Financial Calculators.
• Articles.
• Member Discounts
  
  - Schedule Appointment.
• Locations.
• Financial Wellness.
• Careers.
• About Us - Organization - SCCU History.
• What is a Credit Union?
• Meet Your Watchdog!
• Newsletters
  
  - Community - Hero Loans.
• Events
  
  - Help - Current Fraud Alerts.
• Frequently Asked Questions.
• Check Loan/Account Application
  
  - By Phone:. Brevard: 321-752-2222. Broward: 954-704-5000. Miami-Dade: 305-882-5000. All Other Areas: 800-447-7228
  
  Member Service Center. Mon - Fri: 8am to 8pm. Sat: 9am to 5pm
  
  Express Services. Mon - Fri: 8am to 7pm. Sat: 9am to 2pm
  
  - Report a Lost or Stolen Card.
• Additional Contact Information.
• Check Loan/Account Application
  
  Scam Alert! Don't provide your information. SCCU will NEVER call, text, or email you to request sensitive details, such as your Electronic banking passwords or account/card numbers. Find out more.
  
  1. Personal.

2. Mortgage Products.
3. Adjustable-Rate Mortgage
   
   Adjustable-Rate Mortgage
   
   Take advantage of lower preliminary payments and begin building equity
   
   SCCU uses a variety of Adjustable-Rate Mortgages (ARMs) to help you begin building equity while delighting in a lower rate and payment up front. Since ARM rates and payments can go lower or higher in the future, you'll need to completely comprehend how they work. We'll work with you to determine what choice is best for your scenario. Our skilled mortgage officers can explain the information so that you'll feel great with your ARM.22
   
   Product Features
   
   - Approximately 95% Financing16
   
   - More Flexible Terms, with Lower Initial Interest & Payment
   
   - Alternatives that Offer Adjustment after 5, 7, or 10 years22
   
   - Ability to Convert to a Fixed Rate Loan
   
   - Affordable Housing Program Available
   
   - Fast Pre-qualification Decisions, Online or Over the Phone.

• No Intangible Tax21.
• SCCU Member Service for the Life of the Loan.
• SCCU Interest Rate Guarantee18
  
  Approximately thirty years
  
  None
  
  $ 1,100 plus.25% of loan amount
  
  No Closing Costs; Jumbo; Construction
  
  - Calculators.
• Home Buying Center.
• Other Mortgage Options.
• SCCU Owners' Manual.
• Mobile Banking.
• Online Banking.
• How Adjustable-Rate Mortgages Work (+ Benefits And Drawbacks)
  
  How do I request an adjustable-rate mortgage with SCCU?
  
  You might use online or reach out to us.
  
  An adjustable-rate mortgage-also described as an ARM or variable rate mortgage-is a mortgage that has a rates of interest that can increase or down at defined time intervals. Typically, an ARM starts with a rates of interest that's lower than the rate of interest on a comparable fixed-rate mortgage for a defined time period. When that time duration expires, the rates of interest might alter, which may change the quantity of your regular monthly payment.
  
  At SCCU, we provide a variety of ARMs to match our members' requirements, including choices that provide rate modification after 5, 7, or ten years22. For example, a 5/1 ARM has a set rate of interest for the very first 5 years of the loan. After the preliminary five-year duration, the rates of interest and payment may change every 12 months. The rate of interest can't increase or reduce more than 2 percent at one change and can't increase more than 5 percent over the life of the loan. To find out more, please reach out to us.
  
  What are the disadvantages of an ARM loan?
  
  Adjustable-rate mortgages (ARMs) are not for everyone, however the bright side is that customers have a large range of mortgage types from which to pick. If you are thinking about an ARM loan, nevertheless, it is necessary to comprehend a few of the possible drawbacks:
  
  - Adjustable-rate mortgage rates can and are likely to change over the life of the loan. An ARM rate might be low for an initial period however could increase later on.
• Some adjustable-rate mortgages include prepayment penalties, so you will wish to ask prospective lending institutions for a clear response on this.
• Some adjustable-rate mortgages will have a balloon payment at maturity, which might be a considerable quantity of cash.
  
  What are adjustable-rate mortgage change caps?
  
  Adjustable-rate mortgages have caps, or limits, on just how much the rates of interest can increase from one adjustment date to the next. These adjustment caps secure borrowers from extreme changes in rates. Lenders may have three kinds of caps:
  
  - The preliminary modification that happens after the preliminary fixed-rate term is reached
• Subsequent adjustment caps that control just how much the rate can increase at one time in adjustment durations that follow the very first change
• A cap on the modification for the life of the loan, or what the total rate of interest increase will ever be
  
  What is an ARM loan modification duration?
  
  Typically, the monthly payment and rates of interest on adjustable-rate mortgages change at specified intervals, such as each month or year or every 3, 5, or 7 years. The length of time between each interval-at which time the rates of interest can be adjusted-is understood as the adjustment duration.
  
  What concerns should borrowers inquire about adjustable-rate mortgages?
  
  Securing a mortgage of any type is typically one of the largest monetary deals many people will make, so making the effort to ask prospective lending institutions the right concerns is very important. To make sure you understand the terms of an adjustable-rate mortgage, ask lending institutions these concerns:
  
  - What is the initial interest rate and the length of time does it apply?
• How typically will my rate of interest be changed?
• What is the index that the ARM rate is based on?
• What is the loan provider's margin (an extra quantity that lenders add to the index rate)?
• How high or low could the interest rate go?
• What is the cap on the payment?
• Is there a penalty for settling the loan early?
• If there is a balloon payment, when would it be due and how much would it be?
• Does the initial regular monthly payment consist of taxes and insurance?
  
  Which is much better: A set- or adjustable-rate mortgage?
  
  Each type of mortgage has its advantages and disadvantages, and ultimately, the mortgage that's much better is the one that's finest for you. Here are a couple of things to think about when weighing your home funding choices: Adjustable-rate mortgages are at first based on short-term rate of interest that are normally lower than interest rates on fixed-rate mortgage. That means ARM rates may at first supply lower regular monthly payments and might give you the opportunity to purchase a more costly home. But, after the initial rate period, your rate could change, impacting your monthly payment. There are also more kinds of variable-rate loans, so you may have more options when searching for home financing that satisfies your specific needs.
  
  The most crucial advantages of fixed-rate mortgages include understanding exactly what your regular monthly home payments will be over time and that you will not have any unpleasant interest rate surprises in the future. Fixed-rate mortgages are likewise easier and much easier to comprehend.
  
  Contact our Express Services team for more information about all of the mortgage alternatives SCCU uses our members.
  
  Who should think about an adjustable-rate mortgage?
  
  ARM loans may be the right option for your borrowing requires if:
  
  - Your earnings is presently sufficient or is likely to increase enough for you to be able to comfortably make greater monthly payments need to your ARM interest rate boost at any modification period.
• You plan to remain in your home for just a few years, so the possibility of paying higher month-to-month payments in years to come is not an issue.
  
  - Yes
• No
  
  MORTGAGE: Mortgage loans are originated by Space Coast Cooperative Credit Union, and undergo credit approval, verification and security evaluation. Programs, offers, rates, terms, and conditions undergo alter or cancel without notification. Certain restrictions apply.
  
  These mortgage loan programs make up first mortgage liens protected by the home and residential or commercial property. Your deposit is figured out by the Loan-to-Value ratio. (90% LTV = 10% down payment) Loans going beyond 80% of the appraised value of the home need personal mortgage insurance. Member accountable for any funds needed for closing costs and pre-paid escrow.
  
  - Compare Checking Accounts
• Compare Savings Accounts
• Zelle ® . -Certificates of Deposit (CDs).
• Debit Card Services.
• IRA Options.
• Switch Kit.
• Rates.
• Existing Account Help.
• Check Application Status
  
  - Mortgage Products.
• Home Equity Loans.
• Mortgage Refinance.
• Home Buying Center.
• Estimate My Mortgage Payment.
• Express Mortgage Originators.
• Existing Mortgage Help.
• Rates.
• Check Mortgage Application Status.
• Check Home Equity Application Status
  
  - Auto/Vehicle Loans.
• Recreational Vehicles.
• Personal Loans.
• Auto Buying Center.
• Request More Product Info.
• Existing Auto Loan Help.
• Rates.
• Check Application Status
  
  - Credit Cards.
• Report a Lost or Stolen Card.
• Manage Cards.
• Existing Visa ® Credit Card Help.
• Travel Notice & Tips.
• TCM Bank MasterCard Access.
• Rates.
• Check Application Status
  
  - Digital Banking.
• Insurance.
• Business Services.
• Financial Wellness.
• Member Discounts
  
  - Schedule Appointment.
• Locations.
• Financial Wellness.
• Careers.
• Connect with Us!
  
  - Facebook.
• Instagram.
• LinkedIn
  
  - Brevard: 321-752-2222.
• Broward: 954-704-5000.
• Miami-Dade: 305-882-5000.
• All Other Areas: 800-447-7228
  
  - Fees, Forms, and Disclosures.
• Terms and Conditions.
• Privacy Policy.
• Sitemap. -. SCCU Routing Number: 263177903. NMLS #: 403370
  
  Space Coast Cooperative credit union subscription is open to relatives of existing members and all who work or reside in Alachua, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Duval, Flagler, Hernando, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, or Volusia Counties in Florida.
  
  * APR = Interest Rate. ^ APY = Annual Percentage Yield.
  
  Space Coast Credit Union (SCCU) © 2025
  
  Your Privacy
  
  This site uses cookies to improve user experience. To find out more about how we use cookies, and your choices for deciding out of the collection of cookies, please visit our Website Terms & Conditions. By continuing to utilize this website, you accept the terms of our Online Privacy Policy and our use of cookies.