|
Savings
Each
MICU savings account earns competitive dividends. Your deposits
also enjoy the protection of federal deposit insurance up
to $250,000. Balances from $250,001 to $350,000 are covered
by private insurance provided by American Share Insurance, the nation's largest
private credit union share insurer. This combination of federal
and private coverage gives you peace of mind you won't get
from the stock market.
Regular share savings
This is your basic account for membership. To join Musicians' Interguild Credit Union,
you must open a regular share savings account
with a minimum of $25. This account earns competitive dividends on balances above
$50.
Term share certificates (CDs)
Lock in a higher yield for your choice of terms from six
months to five years.
Individual Retirement Accounts
Save safely for your future. Your IRA enjoys the protection
of federal and private deposit insurance up to $350,000, separate
from and in addition to the coverage on your savings accounts.
We offer Traditional and Roth IRAs, each with its own possible
tax benefits. Consult your tax advisor to find out which is
better for you.
Traditional
IRA
May give you a tax break while you're working, as your annual
contributions may be deductible. You'll pay taxes on withdrawals
at retirement, when you're likely to be in a lower tax bracket.
Roth IRA
Your annual contributions are non-deductible, but your withdrawals
at retirement, including earnings, will be tax-free.
Coverdell Education Savings Account
A great way to save for a child's future education. Non-deductible
annual contributions of up to $2,000 are permitted, and withdrawals
are tax-free if used for qualified educational expenses.
Looney Tunes Savings Club
The Bugs Bunny club is a fun way for kids up to age 18 to
save money and learn good financial habits.
rates
Rates effective as of September 1, 2010 |
|
|
|
| Account |
Rate Type |
Min Balance |
Min to Earn Dividends |
APR |
APY |
| share |
variable |
$25.00 |
$50.00 and over |
0.25% |
0.25% |
| share draft |
N/A |
N/A |
N/A |
0.00% |
0.00% |
| encore checking |
variable |
$500.00 |
$500.00 |
0.15% |
0.15% |
| IRA share |
variable |
$25.00 |
$50.00 |
1.23% |
1.24% |
| Money market |
Rate Type |
Min Balance |
APR |
APY |
| silver |
variable |
$1,000 |
0.35% |
0.35% |
| gold |
variable |
$10,000 |
0.45% |
0.45% |
| platinum |
variable |
$100,000 |
0.50% |
0.50% |
| * If your balance falls below the minimum balance, your Money Market account will earn the corresponding Share Dividend rate |
| share certificate |
Rate Type |
Min Balance |
Min to Earn Dividends |
APR |
APY |
| 6 Months |
fixed |
$1,000 |
$1,000 |
0.40% |
0.40% |
| 1 year |
fixed |
$1,000 |
$1,000 |
0.75% |
0.75% |
| 2 year |
fixed |
$1,000 |
$1,000 |
1.55% |
1.55% |
| 3 year |
fixed |
$1,000 |
$1,000 |
2.05% |
2.06% |
| 4 year |
fixed |
$1,000 |
$1,000 |
2.30% |
2.32% |
| 5 year |
fixed |
$1,000 |
$1,000 |
2.45% |
2.47% |
|
| 6 Months |
fixed |
$10,000 |
$10,000 |
0.50% |
0.50% |
| 1 year |
fixed |
$10,000 |
$10,000 |
0.85% |
0.85% |
| 2 year |
fixed |
$10,000 |
$10,000 |
1.65% |
1.66% |
| 3 year |
fixed |
$10,000 |
$10,000 |
2.10% |
2.11% |
| 4 year |
fixed |
$10,000 |
$10,000 |
2.35% |
2.37% |
| 5 year |
fixed |
$10,000 |
$10,000 |
2.50% |
2.52% |
|
1 year IRA |
fixed |
$2,000 |
$2,000 |
1.45% |
1.45% |
| 2 year IRA |
fixed |
$2,000 |
$2,000 |
1.70% |
1.71% |
| Ask about the continuous add-on and one-time rate update features on all above share certi cates. Contact the Credit Union for details. |
Dividends are based on the credit union's earnings at the end of the dividend period and cannot be guaranteed.All dividends are paid quarterly. Money Market Account dividends are paid monthly based on the average daily balance.Share deposits are insured by the National Credit Union Association (NCUA) to a maximum of $250,000 for each depositor.Additional coverage from $250,001 to $350,000 is provided by American Share Insurance (ASI) a private insurer. IRA's are separately insured by NCUA to a maximum of $250,000. Additional coverage from $250,001 to $500,000 provided by ASI. The above rates and terms are subject to change without notice. There is a substantial penalty for early withdrawal of certificate funds other than dividends. There may be a penalty for early withdrawal of IRA funds.
*Looney
Tunes characters, names and all related indicia are trademarks
of Warner Bros. Inc. |
