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Certificates Savings Certificates or “CDs” are available at MECU. Whether you want your money to work for you for 6 months or 60 months, we have the certificate of deposit that is right for you. The longer your money is working, the more interest you are paid. There is a penalty for withdrawing your funds before the maturity date. Call for details… IRA Certificates are the same as a Savings Certificate, however, they are tax-deferred. There are penalties for withdrawing the money before the age of 59 and a half. Please see your tax advisor for further information. Your accounts at MECU are insured for up to $100,000 by the National Credit Union Administration, an agency of the federal government. It is the strongest deposit fund protecting consumers today. Additional share insurance up to $250,000 is also provided by MECU through Excess Share Insurance. This allows your money to be insured for up to a total of $350,000. A $1,000 minimum balance is required. Dividends may be paid monthly or quarterly. |
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