Share Savings Accounts
Millard County Credit Union provides a diverse range of Savings Accounts tailored to accommodate various needs. Whether you are an experienced saver or just beginning your journey, we’re prepared to assist you in achieving your financial goals.
Regular Shares
Our Regular Share Savings Account requires a minimum deposit and balance of $25 to establish membership, granting you access to all of the great products, services, and benefits of credit union membership.
Account Features:
$25 minimum deposit and balance
No monthly service fees
Dividends paid monthly*
Ideal for overdraft protection
Enjoy credit union voting rights as a share owner
Easily open through Mobicent Online Banking
Alternate Share
Planning to save for upcoming purchases like new appliances, furniture, or windows? Setting aside funds gradually will help you reach your savings goals.
Account Features:
No minimum balance
No monthly service fees
Monthly dividends to boost your savings*
Set up automatic payments to save quicker
Easily open through Mobicient Online Banking
Individual retirement accounts
Traditional IRA
Start planning ahead with an Individual Retirement Account (IRA) to ensure a financially fit future. Social Security and pension plans are not intended to fully replace your income once you retire. Making savings a lifelong journey will help you cruise into retirement with confidence.
Account Features
No minimum balance
Dividend earnings are tax-deferred*
Contributions may be tax-deductible**
Annual maximum contribution is based on an individual’s age
Contributions can be made if you have earned income***
Contributions for the current year can be made at any time
Contributions for the previous year are accepted until the tax filing deadline, generally April 15
Mandatory minimum distribution requirements
IRA’s insured by NCUA separately from other account types up to $250,000
Share Certificates
Boost your earnings through higher dividends with our range of Share Certificates. With minimal balance requirements and diverse term options, share certificates provide an excellent savings solution
Account Features:
$1,000 minimum deposit
Terms 6 months to 36 months
Dividends compounded and credited monthly
Money Market
A Money Market Share offers the opportunity to earn superior dividends while setting aside funds for significant expenses, such as a down payment on a car or home, college tuition, a vacation, holiday spending, or your emergency fund. Life can be unpredictable, so it's essential to have a safety net in place.
Account Features:
No minimum deposit to open
$1,000 minimum balance to earn disclosed APY
Dividends compounded and credited monthly*
Deposits can be made at anytime
No penalty for withdrawal
Up to 6 withdrawals per month
Insured up to $250,000 by NCUA
Rates
Rates effective as of
Share Savings & IRA
| Type | APY** | Rate | Minimum Balance |
|---|---|---|---|
| Share Savings | 0.050% | 0.050% | $25 |
| IRA Savings | 0.100% | 0.100% | $0 |
Certificates
| Term | APY** | Rate | Minimum Balance |
|---|---|---|---|
| 6 months | 3.919% | 3.850% | $1,000 |
| 12 months | 3.867% | 3.800% | $1,000 |
| 24 months | 3.815% | 3.750% | $1,000 |
| 36 months | 2.750% | 2.716% | $1,000 |
Money Market
| Tier | APY** | Rate | Minimum Balance |
|---|---|---|---|
| Tier 1 | 0.500% | 0.501% | $0 |
| Tier 2 | 0.650% | 0.652% | $5,000 |
| Tier 3 | 0.750% | 0.753% | $10,000 |
| Tier 4 | 0.850% | 0.853% | $25,000 |
| Tier 5 | 1.000% | 1.005% | $50,000 |
| Tier 6 | 1.250% | 1.257% | $100,000 |
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*The payment of dividends is based on the available current and undivided earnings of MCCU.
**Ask your tax advisor for possible tax benefits of IRA’s.
***IRS rules and regulations apply to IRA eligibility.
****Some share certificates may not be available for online opening.
