Certificate of Deposits
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. Opening a CD is absolutely free and all the interest your CD earns is compounded quarterly! See the interest rates in the tables below.
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 from your Certificate prior to maturity, you will pay an interest penalty. This penalty is clearly spelled out in MC 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 MC 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.
MC Federal is now paying out higher dividends. See which CD group qualifies you!
- Members Advantage:
- Ages 60 and above
- Jumbo
- Minimum $50,000 CD opened
- Premium
- $50,000+ existing on deposit with MC Federal
- Loyal
- Debit card holder
- Checking account
- Direct deposit
Features
- Minimum investment of $500
- 6 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 – 180 day dividend penalty for early withdrawl at the rate being paid, depending on term
- Funds are insured up to $250,000 by the NCUA
For current rates on these qualifying groups above, contact any MC Federal branch and ask about our available rate sheets.
| Regular Share Certificates | A.P.Y* | Rate |
|---|---|---|
| $500-$49,999 | ||
| 6 Months | 0.20% | 0.200% |
| 12 Months | 0.30% | 0.300% |
| 15 Months | 0.80% | 0.797% |
| 18 months | 0.35% | 0.350% |
| 24 Months | 0.45% | 0.449% |
| 36 Months | 0.65% | 0.648% |
| 48 Months | 0.70% | 0.698% |
| 60 Months | 0.80% | 0.797% |
| Jumbo Share Certificates | A.P.Y.* | Rate |
|---|---|---|
| $50,000 and Over | ||
| 6 Months | 0.30% | 0.300% |
| 12 Months | 0.40% | 0.399% |
| 15 Months | 0.90% | 0.897% |
| 18 Months | 0.45% | 0.449% |
| 24 Months | 0.55% | 0.549% |
| 36 Months | 0.75% | 0.748% |
| 48 Months | 0.80% | 0.797% |
| 60 Months | 0.90% | 0.897% |
| IRA Certificates | A.P.Y* | Rate | Members Advantage (A.P.Y*) | Members Advantage (Rate) |
|---|---|---|---|---|
| $500-$49,999 | ||||
| Traditional, Roth, and Coverdell | ||||
| 6 Months | 0.30% | 0.300% | 0.40% | 0.399% |
| 12 Months | 0.40% | 0.399% | 0.50% | 0.499% |
| 15 Months | 0.90% | 0.897% | 1.00% | 0.996% |
| 18 Months | 0.45% | 0.449% | 0.55% | 0.549% |
| 24 Months | 0.55% | 0.549% | 0.65% | 0.648% |
| 36 Months | 0.75% | 0.748% | 0.85% | 0.847% |
| 48 Months | 0.80% | 0.797% | 0.90% | 0.897% |
| 60 Months | 0.90% | 0.897% | 1.00% | 0.996% |
| Jumbo IRA Certificates | A.P.Y* | Rate |
|---|---|---|
| $50,000 and Over | ||
| Traditional, Roth, and Coverdell | ||
| 6 Months | 0.40% | 0.399% |
| 12 Months | 0.50% | 0.499% |
| 15 Months | 1.00% | 0.996% |
| 18 Months | 0.55% | 0.549% |
| 24 Months | 0.65% | 0.648% |
| 36 Months | 0.85% | 0.847% |
| 48 Months | 0.90% | 0.897% |
| 60 Months | 1.00% | 0.996% |
*APY = Annual Percentage Yield. IRA = Individual Retirement Account. HSA = Health Savings Account. All rates, terms, conditions, and programs are subject to change at the discretion of the Credit Union. Fees may reduce earnings. Early withdrawal will incur a penalty. MC Federal Credit Union membership is required.
Individual Retirement Accounts
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. MC Federal 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.
| A.P.Y* | |
|---|---|
| IRA Variable | 0.10% |
*APY = Annual Percentage Yield. IRA = Individual Retirement Account. HSA = Health Savings Account. All rates, terms, conditions, and programs are subject to change at the discretion of the Credit Union. Fees may reduce earnings. MC Federal Credit Union membership is required.
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
- Dividends posted monthly
- Unlimited transactions when performed in branch; otherwise limited to 6
- Easily Accessible
Requirements
- $1,000.00 Minimum Balance
- Restricted transactions as outlined in our Truth in Savings Disclosure
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 Accounts | A.P.Y* | Rate |
|---|---|---|
| Dividends Posted Monthly | ||
| $1,000-$19,999 | 0.25% | 0.250% |
| $20,000-$49,999 | 0.25% | 0.250% |
| $50,000-$99,999 | 0.35% | 0.350% |
| $100,000 or more | 0.40% | 0.399% |
| Platinum Money Market (Min. $50k) | A.P.Y.* | Rate |
|---|---|---|
| Dividends Posted Monthly | 0.75% | 0.748% |
*APY = Annual Percentage Yield. IRA = Individual Retirement Account. HSA = Health Savings Account. All rates, terms, conditions, and programs are subject to change at the discretion of the Credit Union. Fees may reduce earnings. MC Federal Credit Union membership is required.
