Certificates of Deposit
MECU CDs: High yields, low opening deposit minimums and flexible terms
CDs generally earn higher rates than most savings accounts. Risk-free investments with a guaranteed return, MECU CDs feature low minimum deposit requirements and are available in a variety of terms.
SEE WHICH TYPE OF MECU CD IS THE RIGHT ONE FOR YOU:
REGULAR CERTIFICATE
Fixed interest rate. Higher rate than a standard savings account. $500 minimum deposit. Variety of term lengths from 9 months to 5 years.
Rates as of: February 1, 2012 Certificates of Deposit Fixed, IRA or Roth IRA* (Regular CD) |
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|---|---|---|---|
| Account Type | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit † |
| 60-month | 2.23 % | 2.25 % | $ 500 |
| 48-month | 1.79 % | 1.80 % | $ 500 |
| 36-month | 1.74 % | 1.75 % | $ 500 |
| 24-month | 1.29 % | 1.30 % | $ 500 |
| 18-month | 1.00 % | 1.00 % | $ 500 |
| 12-month | 0.95 % | 0.95 % | $ 500 |
| 9-month | 0.85 % | 0.85 % | $ 500 |
* Early withdrawal penalty may be imposed for withdrawal of principal before the maturity date. † Minimum balance in order to earn stated APY. |
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BUMP-UP CERTIFICATE
You can take advantage of rising interest rates up to two times with a 48-60 month term and one time with a 24 - 36 month term. When you bump up your rate, you will start to earn interest at the higher rate for the remainder of the term. If rates drop, you're still earning at the new higher bump-up rate.
Rates as of: February 1, 2012 Certificates of Deposit* Regular or IRA** (Bump-Up CD) |
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|---|---|---|---|
| Account Type | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit † |
| 60-month | 2.23 % | 2.25 % | $ 500 |
| 48-month | 1.79 % | 1.80 % | $ 500 |
| 36-month | 1.74 % | 1.75 % | $ 500 |
| 24-month | 1.29 % | 1.30 % | $ 500 |
* Early withdrawal penalty may be imposed for withdrawal of principal before the maturity date. ** Excludes Roth IRA † Minimum balance in order to earn interest. |
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SUPERFLEX CERTIFICATE
Make deposits into the account even during the term. Use Recurring Transfer to automatically contribute from any other MECU account. One-time, penalty-free withdrawal before the CD fully matures (remaining balance must be at least $1,000; withdrawals may not take place until seven business days from the initial deposit and any additional deposits).
Rates as of: February 1, 2012 SuperFlex CD* |
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|---|---|---|---|
| Account Type | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit † |
| 11-month | 0.85 % | 0.85 % | $ 5,000 |
* Early withdrawal penalty may be imposed for withdrawal of principal before the maturity date. Only one withdrawal without paying a penalty will be permitted with the Superflex CD; the balance remaining must be at least $1,000. † Minimum balance to earn interest on SuperflexCD is $1,000. |
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AUTO-BUILD CERTIFICATE
Minimum deposit of $25.00. Make unlimited deposits during the term of the CD. Make enough contributions and your interest rate will increase automatically at $500.01, and then again at $5,000.
Rates as of: February 1, 2012 Certificate of Deposit* Fixed or IRA** (Auto-Build) |
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|---|---|---|---|
| Account Type | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit † |
| 12 Month Term | |||
| $25 to $500 | 0.85 % | 0.85 % | $ 25 |
| $500.01 to $4,999.99 | 0.90 % | 0.90 % | $ 25 |
| $5,000 or more | 0.95 % | 0.95 % | $ 25 |
| 24 Month Term | |||
| $25 to $500 | 0.95 % | 0.95 % | $ 25 |
| $500.01 to $4,999.99 | 1.10 % | 1.10 % | $ 25 |
| $5,000 or more | 1.24 % | 1.25 % | $ 25 |
* Early withdrawal penalty may be imposed for withdrawal of principal before the maturity date. ** Excludes Roth IRA † Minimum balance in order to earn interest. |
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