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CDs, IRAs, and Money Markets

Start your savings out right with risk-free CDs, IRAs, and Money Markets. Each account is flexible to the term you choose. These accounts yield a higher rate of return than a regular savings account and best of all they are a safe way to save because they are insured by the NCUA for up to $250,000 until December 2013.

CDs

A CD is one of the most widely held and accepted investments today. It is a flexible, safe investment that pays a high market interest rate. When you purchase a Certificate, there are no upfront fees and you will always know how much you will earn M-C has a simple, easy-to-follow schedule of rates for Certificates of various maturities.

Joint Owners

A joint owner may be added to a Certificate if you desire. The joint owner is listed as the secondary owner of the Certificate and is subject to the same terms and agreements as the primary owner.

Early Withdrawal

If you withdraw part or all of your Certificate prior to maturity, you will pay an interest penalty. This penalty is clearly spelled out in M-C Federal Credit Union’s Certificate Disclosure form. A penalty will not be imposed for withdrawals following the death or judicially declared incompetence of the account holder.

Dividends

Dividend rates on Certificates depend on current economic conditions and the length of time you agree to leave your money on deposit at M-C Federal. Once you purchase a Certificate, the interest rate and corresponding annual percentage yield is fixed for the life of that Certificate.
With our Certificates, you may elect to have your quarterly interest credited to the Certificate balance, posted to a Share Account or have a check mailed to your home.
Certificate interest is computed daily, compounded quarterly and quoted in terms of annual percentage yield.

Features

  • Minimum investment of $500
  • 3 to 60 month terms available
  • Dividend rate fixed for the term of the certificate
  • The APY (Annual Percentage Yield) is based on the dividends remaining on the deposit until maturity is reached
  • Dividends are compounded and posted quarterly
  • 90 Day dividend penalty for early withdraw at the rate being paid
  • Funds insured up to $250,000 by the NCUA until December 2013
Regular Share CertificatesA.P.Y.*Rate
$500 - $49,999
3 MonthsN/AN/A
6 Months0.30%0.30%
12 Months0.35%0.35%
18 Months0.40%0.40%
24 Months0.55%0.55%
36 Months0.85%0.85%
48 Months1.10%1.10%
60 Months1.45%1.44%
48 Months STEP-UP-CD0.85%0.85%
Jumbo Share CertificatesA.P.Y.*Rate
$50,000 and Over
3 MonthsN/AN/A
6 Months0.40%0.40%
12 Months0.45%0.45%
18 Months0.50%0.50%
24 Months0.65%0.65%
36 Months0.95%0.95%
48 Months1.20%1.19%
60 Months1.55%1.54%
48 Months STEP-UP-CD0.95%0.95%

IRAs

An IRA account offers flexibility to allow you to start saving for your retirement. You can make a one lump sum contribution or make many throughout the year. M-C offers three types of IRAs to fit your savings needs. A deposit can be as little as $1.00 to a variable IRA account and just $500.00 for a certificate IRA with a set term.

IRA CertificatesA.P.Y.*Rate
Traditional, Roth & Coverdell Savings
6 Months0.60%0.60%
12 Months0.65%0.65%
18 Months0.70%0.70%
24 Months0.85%0.85%
36 Months1.15%1.15%
48 Months1.40%1.39%
60 Months1.75%1.74%
Jumbo IRA CertificatesA.P.Y.*Rate
$50,000 and Over
Traditional, Roth & Coverdell Savings
6 Months0.70%0.70%
12 Months0.75%0.75%
18 Months0.80%0.80%
24 Months0.95%0.95%
36 Months1.25%1.24%
48 Months1.50%1.49%
60 Months1.85%1.84%

Money Markets

A Money Market is a great way to save! The dividends will be calculated from the date of deposit to date of withdrawal. Dividends are posted monthly on the first day of the following month.

Features

  • $1,000.00 Minimum Balance required
  • Three withdrawals or transfers are permitted per month

The dividend rate is determined weekly based on our index Federal Funds Average Rate (MAC rate). This Dividend Rate equals the index value minus a margin of not less than 1.00% or not more than 2.50%.

Money Market AccountsA.P.Y.**Rate
Dividends Posted Monthly
$1,000 - $4,9990.35%0.35%
$5,000 - $19,9990.35%0.35%
$20,000 - $49,9990.35%0.35%
$50,000 - $99,9990.40%0.40%
$100,000 or more0.45%0.45%
*APY = Annual Percentage Rate. IRA = Individual Retirement Account. Dividends are computed daily and compounded quarterly. The APY may fluctuate slightly depending on the number of days in each quarter. The APY is based on the assumption that dividends will remain in the account until maturity. Rates are subject to change at any time. 90 day penalty for early withdrawal. **Rates are subject to change weekly. Dividends are posted monthly. No term, easy access. ***Rates on share accounts are not guaranteed, but are based on the earnings of the credit union and declared quarterly. Dividends are calculated on a “day of deposit/day of withdrawal basis. M-C Federal Credit Union membership is required.