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Share Accounts (savings) represent your ownership at the Credit Union. Once you open a Share Account, you have access to all of the Credit Union’s products and services. Your savings funds are Federally insured by the National Credit Union Administration to at least $250,000 and backed by the full faith and credit of the United States Government.
Features of Share Accounts
| • | $25 minimum balance | |
| • | Dividends are paid on balances above $100 (Account holders 18 years and younger begin earning dividends at $25). | |
| • | Statements are provided quarterly via mail or email. | |
| • | Dividends are paid quarterly. | |
| • | Federally insured to at least $250,000 by the NCUA. |
Money Market Savings Account
A Money Market Account allows you to earn higher yields while maintaining the liquidity of your funds.
Features of a Money Market Account
| • | Minimum balance of $2,500. | |
| • | If account drops below the required minimum balance, interest will not be earned for that day or days until minimum balance is maintained. | |
| • | Easy to open by phone, email or visit to one of our branches | |
| • | Interest is paid monthly | |
| • | Federally insured to at least $250,000 by the NCUA. |
Holiday Club
Start saving today for the holidays or for any of your savings goals. The Holiday Savings Club is a separate share account that requires a low minimum balance of $5.00 to open.
Features of the Holiday Club Savings
| • | $5.00 minimum balance | |
| • | Balances transferred to your checking account or mailed to you by check early November. | |
| • | Interest is paid quarterly. | |
| • | Federally insured to at least $250,000 by the NCUA. |
Vacation Club
The Vacation Club Savings allows you to save for other planned expenses based on your needs (We always like the idea of a vacation though). This club account requires a low minimum balance of $5.00 to start.
Features of the Vacation Club Savings
| • | $5.00 minimum balance | |
| • | Use the funds for your own purposes. | |
| • | Interest is paid quarterly. | |
| • | Federally insured to at least $250,000 by the NCUA. |
Swipe & Save
This special account is part of the SWIPE & SAVE program and helps you build your savings for unexpected emergency expenses. When you chose to transfer your round-up savings to the SWIPE & SAVE Savings Account, MCCU will pay you a higher interest rate+.
Features of the Swipe & Save Savings
| • | No minimum balance | |
| • | Use the funds for budgeted or emergency needs | |
| • | Interest is paid quarterly. | |
| • | Federally insured to at least $250,000 by the NCUA. |
*All share accounts at MCCU are subject to transaction limitations: During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to the Regulation D requirements and a fee may be assessed.
+Swipe & Save Savings will earn the 6-month CD rate on balances up to $2,000. Balances above $2,000 will receive the current base share rate. Rate is subject to change without notice. One free emergency related withdrawal will be allowed per month; each withdrawal after will be assessed a $10.00 fee. Swipe & Save transfers are the only deposits allowed to the savings account. MCCU reserves the right to close the Swipe & Save Savings if transaction abuse is suspected.
