SHARE ACCOUNTS

SAVINGS ACCOUNTS

PRIMARY SHARE (SAVINGS):

  • This account establishes your membership and enables you to take advantage of all the other products offered at MHVFCU. All members are required to maintain a minimum of $5 in a Primary Share Account.
  • The Share Account earns dividends on balances of $100 or greater.
  • Variable rate, with dividends compounded and credited monthly.


Holiday Account:

  • Members may open multiple savings accounts including a Holiday Club account.
  • The Holiday Club earns the same dividend rate as the primary share for balances of $100 or more.
  • Deposits may be made at any time.
  • Holiday Club balances are disbursed to your checking or an alternate savings account in October.
  • Variable rate, with dividends compounded and credited monthly.


MONEY MARKET ACCOUNTS

Premier Money Market Accounts:

  • Minimum deposit to open a Premier Account and earn the Annual Percentage Yield (APY) is $2,500.
  • Tiered rates based on minimum balance.
  • Variable rate, with dividends compounded and credited monthly.
  • No dividend penalty for early withdrawal.
  • No sales charges, commissions or fees
  • Access your funds via teller, ATM, Contact Center, Internet Home Banking and EARS, our bank by phone system.
  • An optional checking program is available which allows up to three drafts to clear against the account each month*.


Money Management Accounts:

  • Minimum deposit to open the account and earn the Annual Percentage Yield (APY) is $1,000.
  • Variable rate, with dividends compounded and credited monthly.
  • No dividend penalty for early withdrawal.
  • No sales charges, fees or commissions.
  • Access your funds via teller, ATM, Contact Center, Internet Home Banking and EARS, our bank by phone system.
  • An optional checking program is available which allows up to three drafts to clear against the account each month*.

* Money market drafts which exceed three per month are returned “withdrawal limit exceeded” and fees may apply.

 

CERTIFICATES

  • Minimum deposit to open a certificate is only $500.
  • Terms from one month to five years available.
  • The longer the term, the higher the dividend rate earned.
  • The earned rate is fixed for the term of the certificate until the renewal date; in the absence of other instructions, the certificate will renew automatically at the then prevailing rate.
  • Variable rate products are also available.
  • Dividends compounded daily and credited monthly.
  • Dividend penalty for early withdrawal.

Click for Certificate Rates


INDIVIDUAL RETIREMENT ACCOUNTS (IRAs):

Traditional 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.*


Roth IRAs:

  • Contributions are not tax deductible, but principal and interest accumulate tax free.

Contribution Maximums (Click here for additional information)
For both the Roth and Traditional IRAs, maximum annual contributions are as follows:

Year

Maximum Contribution

If over age 50

2009

$5.000

$6,000

2010

$5,000

$6,000

 


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 federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

 

*Refer to your tax advisor for more information.


Join Us!

Ready to take ownership of your financial institution? Click here to become a member!

 

Where to Find Us?

MHV Branches & ATMs

Surcharge-Free Network ATMs

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