Money Market & CDs
Don't let your savings get lazy. Put them to work in an MCU Money Market Account or a Certificate of Deposit.
Money Market Accounts and CDs offer a way to invest your money for the short term in a secure and easy way. No playing with the stock market, just a straight forward and easy return on your investment.
Money Market Account
If you want your money to gain higher interest rates but you still need some access to it, a Money Market Account is for you.
Money market accounts have higher interest rates than standard saving or checking accounts but only allow limited check writing privileges. Transfers are limited to six per month, three of which may be made by check. Dividends are calculated daily and credited monthly.
This account has two service tiers:
- Tier one members earn dividends at a higher rate than that of a basic savings account with a minimum balance of $2,500.
- Tier two members earn even higher dividends with a balance of $25,000 or more.
| Savings | ||||
|---|---|---|---|---|
| Minimum to Open | Minimum Balance for Dividends | Dividend Rate | Annual Percentage Yield |
|
| Regular Savings | $5 | $100 | 0.03% | 0.03% |
| Youth Savings (23 & Under) | $5 | $100 | 2.03% | 2.03% |
| Vacation Club | $5 | $100 | 0.03% | 0.03% |
| Christmas Club | $5 | $100 | 0.03% | 0.03% |
| Money Market | $2,500 $25,000 | $2,500 $25,000 Below Minimum | 0.15% 0.50% 0.02% | 0.15% 0.50% 0.02% |
| Interest Checking | $25 | $500 | 0.02% | 0.02% |
Certificate of Deposit (CD)
If you have money set aside that you don’t need to access very often, a CD is right for you.
A CD locks your money up for a specific period of time. Generally the longer you agree to leave it in the CD, the higher the interest rate you will get. CDs offer higher interest rates than a standard savings account or money market account. MCU offers multiple options from 91 Day CDs to 2.5 years (30 months).
All CDs have a starting investment of $1000. However, we do have a 1 yr. CD with only a $500 investment. You can easily purchase a CD through Online Banking or our mobile app.
| Certificates | ||||
|---|---|---|---|---|
| Minimum to Open | Minimum Balance for Dividends | Dividend Rate | Annual Percentage Yield |
|
| 91 Days | $1,000 | $1,000 | 0.50% | 0.50% |
| 6-12 Months | $1,000 | $1,000 | 0.75% | 0.75% |
| 1 Year | $1,000 $500 | $1,000 $500 | 3.95% 0.75% | 4.01% 0.75% |
| 1.5 Year (18 Months) | $1,000 | $1,000 | 2.50% | 2.52% |
| 2 Years | $1,000 | $1,000 | 2.50% | 2.52% |
| 2.5 Years (30 Months) | $1,000 | $1,000 | 2.50% | 2.52% |
| Security Plus Club Certificate (1 Year) | $1,000 | $1,000 | 4.00% | 4.06% |
| Youth Savings Club Certificate (1 Year) | $500 | $500 | 0.75% | 0.75% |
| Certificates are subject to early withdrawal penalties and renew automatically | ||||
