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Save and earn with Certificates

Certificates offer a competitive, steady dividend rate for a fixed length of time and are best for money you don't need to access for a while.

 

Start earning now

Open Certificate

 

What we offer:

Traditional Share Certificates (CDs) and Certificates for retirement including both a Traditional IRA or Roth IRA.

All Certificates offers include:

  • Share/IRA Share Certificate ($500 minimum)
  • Terms ranging from 12 to 60 months
  • Money that grows over the selected term at a guaranteed rate
  • Dividends that are compounded daily and paid monthly, and can be rolled into the certificate
  • No monthly fees

 


What's the difference between IRA Certificates and regular Certificates?

Share Certificates - help you reach shorter term financial goals

Individual Retirement Account (IRA/Traditional & Roth) Certificates - help you reach your retirement savings goals

What’s the difference between Traditional and Roth Certificates?

Traditional IRA - Contributions are tax-deductible in the year they are made, because deposits are made pre-tax

Roth IRA - Withdrawals in retirement are not taxed, because deposits are made after tax

 

Consult your tax advisor to assist with deciding which account is right for you. The road to a more secure financial future begins with saving strategies using MIT Federal Credit Union's IRAs and Share Certificates.

 


Certificate Rates
Effective Date: Tuesday, November 28th, 2023
TermMinimum Deposit 3New Money Only 2May be used for Traditional and Roth accounts 4Dividend RateAPY**
3 Months High Yield 1 $500.00 Yes No 4.40% 4.50%
6 Months High Yield 1 $5,000.00 Yes No 4.16% 4.25%
9 Months High Yield 1 $5,000.00 Yes No 4.16% 4.25%
13 Months High Yield 1 $5,000.00 Yes No 4.88% 5.00%
15 Months High Yield 1 $500.00 No No 5.21% 5.35%
12 Months $500.00 No Yes 4.40% 4.50%
6 Months $500.00 No Yes 4.16% 4.25%
9 Months $500.00 No Yes 3.92% 4.00%
18 Months $500.00 No Yes 3.44% 3.50%
24 Months $500.00 No Yes 2.96% 3.00%
60 Months $500.00 No Yes 0.80% 0.80%
48 Months $500.00 No Yes 0.80% 0.80%
36 Months $500.00 No Yes 0.75% 0.75%

 

Consult your tax adviser to assist with deciding which account is right for you. The road to a more secure financial future begins with saving strategies using MIT Federal Credit Union's IRAs and Share Certificates.

 

*A $5.00 balance is required to open a Savings Account, which is required for membership at MIT Federal Credit Union. To earn a dividend, you must maintain the Minimum Daily Balance listed above. No dividend will be paid on days when the balance falls below the required minimum. The rate may change after account opening. Fees could reduce earnings on the account.

** APY=Annual Percentage Yield. Share Certificate APY assumes dividends are retained in the Certificate; there may be a penalty for early withdrawal. Other terms and conditions apply. Rates are accurate as of the current date. Rates are subject to change without notice. Please consult a Representative for complete savings information.

1CD Specials cannot be combined with any other offer.

2“New Money” is considered funds not currently on deposit at MIT Federal Credit Union.

3Must maintain a minimum daily balance of $500.00 (for Regular share certificate types) in your account each day to obtain the disclosed APY.

4Dividend Rate, APY, and earnings may vary for Traditional and Roth accounts.

Federal Regulations require a substantial penalty on funds withdrawn prior to maturity for all Certificate of Deposit (CD) accounts. Fees could reduce earnings on the account. Please see MITFCU’s Truth in Savings for Certificates of Deposit. If the CD is rolled over upon maturity, it will earn the base rate of interest in effect at that time.

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