Check our FAQs for answers to common questions
We've compiled some of the questions we hear most frequently from members when they visit a MECU Credit Union branch in and around Baltimore, MD, or when they contact us online. Chances are, the question you want to ask is here with the answer you need. And if it's not, feel free to contact us so we can help.
Savings
You can lose money in a money market account if your balance goes negative due to withdrawals or transfers, and you’re charged fees. Your original deposit (principal) can be reduced if the account is overdrawn and fees apply.
You can use our Savings Interest Calculator to see how much you can earn from interest!
A Certificate of Deposit (CD) lets you earn interest on a set amount of money that you agree to keep deposited for a fixed term. During that period, your funds remain in the CD and grow at the agreed‑upon rate.
A Roth IRA is an individual retirement account you fund with money that’s already been taxed. Because contributions are made with after‑tax dollars, any growth and qualified withdrawals in retirement are generally tax‑free.
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