* APY=Annual Percentage Yield. Share Certificate APY assumes dividends are retained in the Certificate; there may be a penalty for early withdrawal. The required Minimum Daily Balance must be maintained at all times. Other terms and conditions apply. Rates are accurate as of February 20, 2018 and are subject to change without notice. Rate shown above reflects a benefit for members who qualify for Smart Money Rewards. To qualify for Smart Money Rewards, we must receive your net pay, pension, or Social Security via direct deposit in excess of $100. If at any time your Checking Account is closed or becomes inactive (zero transaction/s within the past 90 days or direct deposit is cancelled), the rate will be decreased by 0.25%. One or more direct deposits must post and clear to the checking account within each monthly statement cycle. Special rate is available on new funds only. “New Funds” means a deposit of funds: (a) from outside MIT FCU and (b) which is incremental to the average daily balance of deposits for the month before the placement of the time deposit. Any transfer of funds between MIT FCU account(s) would not be considered as new funds. For new certificates opened with funds transferred from an existing MIT FCU account, the rate would be based on our non-promotional rate for 16 Month Jump-Up Certificates: 1.05% APY for the base certificate, 1.30% APY for Smart Money Rewards Certificate, 1.15% APY for IRA base certificate, and 1.40% for Smart Money Rewards IRA Certificate. This includes certificates being rolled over as well as funds being transferred from another type of account.
** A $5.00 balance is required to open a Savings Account for membership at MIT Federal Credit Union. No dividend will be paid on days when the balance falls below the required minimum.