What type of savings account are you looking for?
Your deposits are federally insured by the NCUA to at least $250,000
5 steps to get started
EligibilityMembership is open to anyone who lives, works, worships, volunteers or attends school in Ulster, Dutchess, Orange, Putnam, Rockland, Sullivan or Westchester County, NY. In addition, members’ families, including spouse, children, grandchildren, siblings, parents, grandparents, and members of the immediate household are eligible to open an account.
What You NeedWhether you are looking to open an account online or in branch, you’ll need a form of unexpired government issued identification such as a state-issued Driver’s License or a U.S. Passport.
Initial DepositThere is a $5 minimum deposit required when opening a Savings Account. This required deposit buys your share in the credit union, and it needs to be kept in your Savings Account.
Direct DepositDirect Deposit simplifies your banking by automatically depositing your payroll, pension, Social Security and other recurring deposits directly into any MHV account. To set up Direct Deposit, provide our Routing Number (221976243) along with your MHV account number to your depositor.
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The Best Banking Experience
I was able to very easily open a money market account over the phone. The staff made the process quick and easy.Christine B.
MHV provides the best banking experience I've ever had. They are good all around.Andres S.
Commonly Asked Questions About Savings
Please visit our Rates page for our current rates.
The minimum balance required to open a primary Savings Account is $5. There is no low-balance fee, but you must maintain a minimum daily balance of $100 in your share account each day to obtain the disclosed annual percentage yield.
If you're not yet a member of MHV & want to open an account with us, click here. You will need your non-expired U.S. Government-issued Photo ID. Please note: if your photo ID has an alternate address or P.O. Box, please have proof of address (car registration, lease agreement, credit card statement, car insurance ID, etc.) ready to upload upon request.
Yes, we offer several types of IRAs.
- Tax Deductible depending on your income and individual tax situation.*
- Additionally, participation in an employer sponsored retirement plan will affect how much of the IRA is tax deductible.*
- Contributions are not tax deductible, but principal and interest accumulate tax free.
Coverdell Education Savings Account (Education IRA):
- Tax advantaged savings vehicles for education purposes.
- Maximum annual contribution is $2,000.
- In addition to college costs, payouts for elementary and secondary school expenses are now available.
- Corporations and tax-exempt organizations may also make contributions.
- Marriage penalty eliminated on income levels that qualify for the full contribution amount.
- Contributions may be made through April 15 for the prior tax year.
Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
To open an IRA, please visit any Branch Location.
*Refer to your tax advisor for more information.
Yes, you can set up an estate account for the purpose of administering a person's estate after they have passed away. For information and documentation requirements, please see our guide here.
Yes. You can open either a Savings or Certificate of Deposit as a custodial account.
Yes, you may add beneficiaries. For assistance, please work with your local Branch or call our Contact Center.