Savings Rates
| Account Type | Minimum Daily Balance to Earn | Dividend Rate | APY** |
|---|---|---|---|
| Savings* | $100.00 | 0.05% | 0.05% |
| High Yield Savings | $500.00 | 2.96% | 3.00% |
| IRA Share (Traditional & Roth) | $100.00 | 0.05% | 0.05% |
| Select Savings | $25,000.00 | 0.10% | 0.10% |
| Money Market | $500,000.00+ | 0.40% | 0.40% |
| $250,000.00 | 0.35% | 0.35% | |
| $100,000.00 | 0.30% | 0.30% | |
| $50,000.00 | 0.25% | 0.25% | |
| $10,000.00 | 0.20% | 0.20% | |
| $1,000.00 | 0.10% | 0.10% | |
| Club Accounts | None | 0.05% | 0.05% |
| Minimum Daily Balance to Earn | Dividend Rate | APY** |
|---|---|---|
| Select Checking | ||
| $100,000.00 | 0.05% | 0.05% |
| $50,000.00 | 0.05% | 0.05% |
| $25,000.00 | 0.05% | 0.05% |
| $10,000.00*** | 0.05% | 0.05% |
| Plus Checking | ||
| $2,500.00 | 0.05% | 0.05% |
| Basic Checking | ||
| N/A | N/A | N/A |
| Term | Minimum Deposit 3 | New Money Only 2 | May be used for Traditional and Roth accounts 4 | Dividend Rate | APY** |
|---|---|---|---|---|---|
| 3 Months High Yield 1 | $500.00 | No | No | 4.40% | 4.50% |
| 6 Months High Yield 1 | $500.00 | Yes | No | 4.40% | 4.50% |
| 9 Months High Yield 1 | $500.00 | Yes | No | 4.16% | 4.25% |
| 6 Months | $500.00 | No | Yes | 3.92% | 4.00% |
| 9 Months | $500.00 | No | Yes | 3.68% | 3.75% |
| 12 Months | $500.00 | No | Yes | 3.92% | 4.00% |
| 18 Months | $500.00 | No | Yes | 3.44% | 3.50% |
| 24 Months | $500.00 | No | Yes | 2.96% | 3.00% |
| 36 Months | $500.00 | No | Yes | 2.47% | 2.50% |
| 48 Months | $500.00 | No | Yes | 2.47% | 2.50% |
| 60 Months | $500.00 | No | Yes | 2.47% | 2.50% |
*A $5.00 balance is required to open a Savings Account, which is required for membership at MIT Federal Credit Union. To earn a dividend, you must maintain the Minimum Daily Balance listed above. No dividend will be paid on days when the balance falls below the required minimum. The rate may change after account opening. Fees could reduce earnings on the account.
** APY=Annual Percentage Yield. Share Certificate APY assumes dividends are retained in the Certificate; there may be a penalty for early withdrawal. The required Minimum Daily Balance must be maintained at all times. Other terms and conditions apply. Rates are accurate as of the current date. Rates are subject to change without notice. Please consult a Representative for complete savings information.
1CD Specials cannot be combined with any other offer.
2“New Money” is considered funds not currently on deposit at MIT Federal Credit Union.
3Must maintain a minimum daily balance of $500.00 (for Regular share certificate types) in your account each day to obtain the disclosed APY.
4Dividend Rate, APY, and earnings may vary for Traditional and Roth accounts.
Federal Regulations require a substantial penalty on funds withdrawn prior to maturity for all Certificate of Deposit (CD) accounts. Fees could reduce earnings on the account. Please see MITFCU’s Truth in Savings for Certificates of Deposit. If the CD is rolled over upon maturity, it will earn the base rate of interest in effect at that time.
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