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Savings / CD Rates

See the savings and CD rates M-O FCU has to offer on the rates page.

Regular Shares

A share account is an account in the credit union and the basis for your membership. This makes you a member-owner of the credit union. M-O requires a minimum $25 in a savings account to become a member. Your membership makes you eligible to utilize our full range of financial services. Your Credit Union Savings Account earns quarterly dividends calculated on your daily balance. Members' accounts are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency. Members can set up a secondary savings within their account to save for a specific purpose: Christmas, College, Insurance, Vacation, etc.

Certificates of Deposit (CDs)

Share Certificates
In addition to regular share accounts, M-O also offers a certificate program for longer-term investments which offers a better rate of return. M-O currently offers a variety of term certificates with a minimum deposit of $1,000.

IRA Certificates
To start an IRA certificate you must have an IRA suffix under your account and you must also have a minimum of $1,000 in the account. All IRA certificates have a length of 12 months.

Youth Certificates
Our Youth CD’s work the same way as our Share Certificates by earning the same interest, but are designed for our younger members. Any member age 18 or under is able to open a Youth CD. To help our young members start healthy saving habits we have set the minimum balance of these CDs to $250.

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Money Market

If you’re looking for an investment option with some flexibility, but one that still has a higher rate of return, a Money Market account may be the answer. The Money Market share account allows more flexibility than a certificate and offers a higher interest rate than the regular share account. Dividends are paid quarterly on the account on the last day of each quarter. The dividend rate is established by the Board of Directors, and are paid on the average daily balance based on specific tiered balances.
The minimum balance required in the Money Market account is $10,000. If the average daily balance should fall below $10,000 for the quarter; the regular shares dividend rate will be paid. Because this is not a transactional account, there are two criteria for withdrawals. There is a minimum withdrawal amount of $250. There is a maximum of four withdrawals per month. If a member is over the limit in withdrawals, a $10 fee will be assessed to any withdrawal after the four allotted. The account can be started anytime by simply contacting either of our locations to open the Money Market share suffix. Deposits can be made by payroll deduction and/or deposits of cash or check in person or by mail.

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IRA's - Individual Retirement Accounts

Individual Retirement Accounts are one of the simplest ways to save for retirement and your child's education. IRAs are special classifications for tax purposes. M-O offers our members three different types of IRAs -Traditional, Roth and Coverdell Education Savings Account. The actual investment can be either IRA savings or an IRA certificate at competitive rates.

Roth IRA
You are eligible if your income is less than the defined limits set by Congress and you are employed (or your spouse is employed and you file a joint return). If your income is too high to contribute the annual contribution limit, you may be able to make a smaller contribution.

Traditional IRA
Anyone under age 70½ who has income from being employed (or who is filing jointly with a spouse who is employed). OR Anyone who has received a distribution from a qualified retirement plan (such as a 401K) and decides to move the proceeds of the plan into an IRA.

Education IRA
Now know as the Coverdell Education Savings Account, its sole purpose is to help you pay for your child’s qualified elementary and secondary education expenses. You can make contributions to a child’s Coverdell ESA until he or she reaches the age of 18.

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Christmas Club

Shopping for the holidays can be stressful, but M-O FCU can help! Be ready to do your Christmas shopping by putting a little aside throughout the year. Set a goal of what you would like to save and consider payroll deduction to make reaching that amount easier.
Christmas Club accounts earn .50% APR higher than the regular share accounts. Funds are available October 1 – December 31. There is a minimum balance of $5 and a maximum of $2,000. A $10 fee will be charged for any withdrawal done prior to October 1, except in the case of a hardship.

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Pee Wee Penguin and Friends Young Saver's Club

Pee Wee PenguinThe Pee Wee Penguin and Friends Young Saver's Club has been helping credit union kids learn about saving money and smart spending habits since 1988.  This program is filled with financial literacy opportunities, as well as other fun activities for children in kindergarten through sixth grade.  All youth accounts 12 years of age and younger are automatically enrolled in this fun club!

The benefits of joining this club include receiving quarterly newsletters / activity pages, a National Credit Union Youth Week Celebration (held each April), youth certificates, and more!

At the start of 2014 the Pee Wee Penguin Club was given an updated look, new fun activities, and a new website!  Since learning the importance of healthy saving and spending habits can be a big job, Pee Wee recruited some help!  To meet Sheldon, Pee Wee's baby brother, and Kiwi, their older sister, and to check out the new features of the Pee Wee Penguin Club, click here.  

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M-Oney Matters Teen Club

This club is just for our teens and their financial needs. There are great benefits of being a part of the M-Oney Matters Teen Club. There are semi-annual newsletters, loan specials to start establishing good credit, ATM / debit cards, credit cards, youth certificates, and various financial information tips. All youth ages 13-19 are automatically enrolled!

* If they started out with a Pee Wee account they are automatically switched from the Pee Wee account to the Teen Club account upon their 13th birthday.

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