Personal
Savings
Accounts
Savings Made Simple
Whether you're saving for retirement, a vacation, holiday gifts, your next car, or just a rainy day, we've got you covered. MVFCU has a Savings Account for any life goal you might have.
Personal Savings Accounts
Primary Share Savings (S1)
A $5 deposit makes you part-owner of MVFCU and eligible for all other credit union products and services. This is not a fee. In fact, if you were to close your accounts, we would give you the $5 back.
Money Market Account (S6)
Earn more interest when you save more! This account offers a tiered rate based upon the amount you have on deposit. See our current rates for the different tier pricing. You still have easy access to your money and retain the security of federal deposit insurance up to $250,000.
Health Savings Account (HSA)
Put money into your Health Savings Account (HSA) to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment.
Holiday Club Accounts (S3)
Avoid financial pressure during the holidays. Deposit a set amount every pay day (maximum $300/month) so you will have the money you need for gifts, travel, entertainment, or whatever you might need. The money will be automatically deposited into your S1 on November 1st, every year. Withdrawals prior to maturity may be subject to a penalty.
Vacation Savings Account (S14)
Need to save money for your dream vacation? Invest in a high yielding vacation savings account. You can deposit up to $300 per month and the account balance will automatically be deposited into your S1 on June 1st, every year. Withdrawals prior to maturity may be subject to a penalty.
| SAVINGS PRODUCT | Minimum Opening Deposit | Other Terms | Dividend Rate | Dividends Compound | APY* |
|---|---|---|---|---|---|
| Share Savings (S1)*** | $5 | $5 to earn dividend | 0.30% | Quarterly | 0.30% |
| Special Savings (S2)*** | $0 | 0.30% | Quarterly | 0.30% | |
| Holiday Club (S3) | $0 | $300 monthly maximum deposit | 0.75% | Annually | 0.75% |
| Pays out annually November 1st | |||||
| Money Market Savings (S6) | $0-$999 | 0.30% | Monthly | 0.30% | |
| $1,000-$4,999 | 0.35% | 0.35% | |||
| $5,000-$9,999 | 0.70% | 0.70% | |||
| $10,000-$19,999 | 0.90% | 0.90% | |||
| $20,000-$39,999 | 1.10% | 1.10% | |||
| $40,000-$69,999 | 1.50% | 1.51% | |||
| $70,000-$99,999 | 2.00% | 2.02% | |||
| $100,000-$249,999 | 2.50% | 2.53% | |||
| $250,000 and above | 2.75% | 2.79% | |||
| Vacation Club (S14) | $0 | $300 monthly maximum deposit | 0.75% | Annually | 0.75% |
| Pays out annually June 1st | |||||
| Kids Club (S15, S18, S19) | $0-$10,000.00 | 3.00% | Monthly | 3.04% | |
| Kids Club (S15, S18, S19) | $10,000.01 and above | 0.30% | Monthly | 0.30% | |
| Health Savings Account (S16) | $10 Annual Fee Interest Bearing Checking Account | 0.75% | Monthly | 0.75% | |
| * = Annual Percentage Yield. Rate is effective as of 09/19/2024 Rates and terms are subject to change at any time based upon ALCO review and changing market conditions. Fees may reduce the earnings on these accounts. | |||||
| ** = Dividend paid at pay-out date, no dividend for early withdrawal. | |||||
| *** = Balances below the minimum balance will not earn interest. | |||||