Regular Share Savings & Club Accounts
A Great Way to Save!
Opening a Regular Share Savings account is your first step to becoming a member of Michigan Educational Credit Union, but it's also a step toward smart financial planning. Each account earns competitive dividends and is federally insured by the National Credit Union Administration (NCUA) to at least $250,000. You must keep a minimum of $5 in the account at all times to remain a member of the Credit Union.
If you'd like to have a more disciplined way to save for special occasions, consider opening a Christmas Club or Vacation Club account. Because the funds in these accounts seem less accessible, you'll be less likely to dip into them for other expenses. To watch your special savings grow faster, consider having a small portion of your paycheck deposited into the account each week. The minimum balance requirement for a Christmas Club or Vacation Club account is just $5.
|Effective Date: 10/01/2019|
|Regular Share Savings||.25%|
|The minimum balance in these accounts is just $5.00. Rates may change at any time. Fees, which could be assessed for other services available through the credit union could reduce the earnings on these accounts. There is no fee however to maintain a Share Savings, Vacation or Christmas Club account. Rates are subject to change at any time.|
*APY = Annual Percentage Yield.
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