Establishes your credit union membership with MHV
- Gives you access to all of MHV products and services.
- Earns dividends on balances of $100 or greater.
- Variable dividend rate, with dividends compounded and credited monthly.
Earn higher dividends than Primary Savings with fewer restrictions than a certificate
- No dividend penalty for early withdrawal.
- No sales charges, commissions or fees
- Dividends compounded and credited monthly.
- Withdraw funds up to 3x/month into an MHV Checking Account*
Choose from two account options:
Money Market Accounts
$1,000 minimum to open and earn dividends on any size balance.
Tiered Money Market Accounts
$2,500 minimum to open. Tiered variable rates based on balance.
Maximize Dividends Earned On Your Long Term Savings
- $500 Minimum deposit to open with terms from one month to five years.
- The longer the term, the higher the dividend rate earned.
- Fixed and variable rates available. Renews automatically at current rate.
- Dividends compounded daily and credited monthly.
- Dividend penalty for early withdrawal.
- No annual fees or service charges
- Savings may be federally insured to at least $250,000
- Contributions may be made through April 15 for the prior tax year.
Choose from three great options to save for retirement and college:
- Contributions are tax deductible** depending on your income and individual tax situation.
- Maximum annual contribution is determined by federal government
- Contributions are not tax deductible, but principal and dividends accumulate tax free.**
- Maximum annual contribution based on your adjusted gross income
Coverdell Education Savings Account (Education IRA):
- Tax advantaged savings for education.**
- 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.
*Money market drafts which exceed three per month are returned “withdrawal limit exceeded” and fees may apply.**Refer to your tax advisor for more information.