Savings Accounts

Woman holding keys

Primary Savings

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.

Money Market

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:

Traditional IRAs:

  • Contributions are tax deductible** depending on your income and individual tax situation.
  • Maximum annual contribution is determined by federal government

Roth IRAs:

  • 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.