Start your savings out right with risk-free Certificates of Deposit (CDs), IRAs, and Money Markets. Certificates, whether they be regular, jumbo or IRA, are 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.
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 part or all of 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
- Minimum $50,000 CD opened
- $50,000+ existing on deposit with MC Federal
- Debit card holder
- Checking account
- Direct deposit
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|
|Jumbo Share Certificates||A.P.Y.*||Rate|
|$50,000 and Over|
*APY = Annual Percentage Yield. Dividends are computed daily and compounded quarterly. The APY may fluctuate 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. Minimum deposit $500.00. A penalty may be imposed if you withdraw from your account before the maturity day. The penalty schedule is as follows: Terms of 1 year or less 90 days dividends; Terms of greater than 1 year 180 days dividends. Dividends are posted monthly. MC Federal Credit Union membership is required. Please review the Truth in Savings Disclosure on our Forms & Disclosures Page for more information.