Savings


Regular Share Savings

A regular share savings account is your key to credit union membership. For a minimum balance of $25 and a completed account application, a regular savings account gives you credit union ownership, voting privileges, and the opportunity to take advantage of all our products and services.

You may also use your Regular Savings Account for direct deposit, ATM withdrawals, or overdraft protection for your checking account. A Regular Savings account may also be used as security for a loan.

Dividends are earned daily and paid monthly based on account balances.


Money Market

Have you built up a substantial amount of savings? Would you like to earn higher dividends on that money than you can earn with a regular share savings account, and yet have the cash readily available if you need it? Then, a money market account may be the right choice for you.

Money market accounts offer a higher yield on deposits, with the flexibility of immediate access to funds. There is a minimum deposit required to earn dividends, which are paid monthly, and calculated on a date of deposit to date of withdrawal basis.

A money market account is an excellent account in which to put your emergency reserves, or to park money you plan to invest later.

When choosing a money market account, consider the following:

  • Minimum deposit and balance. How much will you need to open the account and what minimum amount must you maintain?

  • What are the penalties if you fall below that minimum?

  • Annual Percentage Yield (APY**). This is affected by the dividend rate and the method of compounding. Daily compounding maximizes your earnings.

Federal regulations limit you to no more than six electronic transfers per month. A money market account cannot be used for overdraft protection and is not accessible via ATM.


Certificates

A My Credit Union certificate account (also known as a term share certificate account) is an interest bearing deposit account with a fixed term and interest rate. You can choose from a variety of terms to meet your savings goals.

Invest your money in a certificate account and choose from a variety of terms from 6-months to 3-years. The minimum deposit required is based on the term of the certificate.

A certificate account is a smart way to save for short or long-term investment goals. Take a look at how our certificate accounts can help add to your investment portfolio:

  • Terms from 6-months to 3-years

  • Competitive high yields increase your return

  • Low minimum balance requirements beginning at $500 (or $100 for those members under the age of 18)

Early withdrawal penalties may apply. Dividends are computed daily and paid monthly.