Products and services for all your savings and checking needs
As a credit union, MIT FCU is a not-for-profit, member-owned financial institution, allowing us to offer our members some of the best rates around. With a full suite of products and services, we've got all of your banking needs covered.
| Account Type | Minimum Daily Balance to Earn | Dividend Rate | APY** |
|---|---|---|---|
| Savings* | $100.00 | 0.05% | 0.05% |
| High Yield Savings | $500.00 | 2.96% | 3.00% |
| IRA Share (Traditional & Roth) | $100.00 | 0.05% | 0.05% |
| Select Savings | $25,000.00 | 0.10% | 0.10% |
| Money Market | $500,000.00+ | 0.40% | 0.40% |
| $250,000.00 | 0.35% | 0.35% | |
| $100,000.00 | 0.30% | 0.30% | |
| $50,000.00 | 0.25% | 0.25% | |
| $10,000.00 | 0.20% | 0.20% | |
| $1,000.00 | 0.10% | 0.10% | |
| Club Accounts | None | 0.05% | 0.05% |
| Minimum Daily Balance to Earn | Dividend Rate | APY** |
|---|---|---|
| Select Checking | ||
| $100,000.00 | 0.05% | 0.05% |
| $50,000.00 | 0.05% | 0.05% |
| $25,000.00 | 0.05% | 0.05% |
| $10,000.00*** | 0.05% | 0.05% |
| Plus Checking | ||
| $2,500.00 | 0.05% | 0.05% |
| Basic Checking | ||
| N/A | N/A | N/A |
| Term | Minimum Deposit 3 | New Money Only 2 | May be used for Traditional and Roth accounts 4 | Dividend Rate | APY** |
|---|---|---|---|---|---|
| 3 Months High Yield 1 | $500.00 | No | No | 4.40% | 4.50% |
| 6 Months High Yield 1 | $5,000.00 | Yes | No | 4.88% | 5.00% |
| 9 Months High Yield 1 | $5,000.00 | Yes | No | 4.64% | 4.75% |
| 15 Months High Yield 1 | $500.00 | No | No | 3.92% | 4.00% |
| 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% |
*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.
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.
** 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 the current date. Rates are subject to change without notice. Please consult a Representative for complete savings information.
***There is no minimum balance to open a Checking Account with MIT Federal Credit Union. To earn dividends on either Plus Checking or Select Checking, you must maintain the Minimum Daily Balance as indicated. No dividend will be paid on days when the balance falls below the required minimum. No dividends are paid on the Basic Checking account. Fees: Plus Checking - $5.00 monthly fee if the daily balance falls below $2,500 at any point in the month. The fee will be withdrawn from your checking account. Select Checking - $8.00 monthly fee if the daily balance falls below $10,000 at any point during the month. The fee will be withdrawn from your account. The rate may change after account opening. Fees could reduce earnings on the account.
***Express Payday - Preauthorized ACH credits received by MIT Federal Credit Union may be credited to your account up to two business days prior to the originally scheduled posting date. If information is not received ahead of time your deposit will not be posted early. Instead, your direct deposit will be posted on your normal payday or as soon as we receive it. MIT Federal Credit Union is not liable if we do not receive the preauthorized credit or fail to deposit these funds to your account early. Please always verify funds are available in your account prior to writing checks or authorizing withdrawals against directly-deposited funds. You are responsible for any overdraft fees from transactions clearing prior to your payroll deposit.
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.
Rates may change after account opening.
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