| Mayo Employees Federal Credit Union offers three- and six-month, one-, two- and three-year certificates of deposits. Mayo Employees Federal Credit Union's certificate program offers an appealing alternative for members who wish to achieve a higher investment rate. Savings and IRA Certificates of Deposit are available with a minimum opening deposit of $1,000. A Jumbo certificate is also offered with a minimum opening deposit of $100,000. Rates for Jumbo certificates are available upon request. Rates are compounded and credited quarterly. |
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Individual Retirement Accounts
(IRAs) |
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| For eligible members, an IRA offers additional retirement security. Mayo Employees Federal Credit Union offers both Traditional and Roth IRAs. Deposits for a tax year may be made until April 15 of the following year, and can also be made through payroll deduction. IRA deposits are insured separately up to $500,000. |
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Coverdell Education Savings
Accounts (ESAs) |
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| A Coverdell Education Savings Account is an excellent way to save for a child's educational expenses. Mayo Employees Federal Credit Union offers Coverdell ESAs in savings or certificate options. Although contributions to a Coverdell ESA are not tax-deductible, your withdrawals (including earnings) are tax-free if used for tuition, books and other qualified education expenses. |
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Additional Financial
Information |
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