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Mayo Employees Federal Credit Union offers certificates, Traditional and Roth IRAs, and Coverdell ESAs in certificate options with terms and rates listed below. Minimum opening balance is $1,000. A penalty may be imposed for early withdrawal. Rates are accurate as of specified date and are subject to change.
Certificates
| Effective as of November 20, 2009 |
| Term |
Dividend Rate |
Annual
Percentage Yield |
| 3 months |
|
|
| $1,000 - $9,999.99 |
.70% |
.70% |
| $10,000 - $24,999.99 |
.75% |
.75% |
| $25,000 - $49,999.99 |
.80% |
.80% |
| $50,000 - $99,999.99 |
.80% |
.80% |
| $100,000 + |
.85% |
.85% |
| 6 months |
|
|
| $1,000 - $9,999.99 |
1.05% |
1.05% |
| $10,000 - $24,999.99 |
1.10% |
1.11% |
| $25,000 - $49,999.99 |
1.15% |
1.16% |
| $50,000 - $99,999.99 |
1.15% |
1.16% |
| $100,000 + |
1.20% |
1.21% |
| 1 year |
|
|
| $1,000 - $9,999.99 |
1.59% |
1.60% |
| $10,000 - $24,999.99 |
1.64% |
1.65% |
| $25,000 - $49,999.99 |
1.69% |
1.70% |
| $50,000 - $99,999.99 |
1.69% |
1.70% |
| $100,000 + |
1.74% |
1.75% |
| 2 years |
|
|
| $1,000 - $9,999.99 |
1.79% |
1.80% |
| $10,000 - $24,999.99 |
1.84% |
1.85% |
| $25,000 - $49,999.99 |
1.89% |
1.90% |
| $50,000 - $99,999.99 |
1.89% |
1.90% |
| $100,000 + |
1.94% |
1.95% |
| 3 years |
|
|
| $1,000 - $9,999.99 |
2.23% |
2.25% |
| $10,000 - $24,999.99 |
2.28% |
2.30% |
| $25,000 - $49,999.99 |
2.33% |
2.35% |
| $50,000 - $99,999.99 |
2.33% |
2.35% |
| $100,000 + |
2.38% |
2.40% |
 Deposit account information
Mayo Employees Federal Credit Union also offers a savings option for Traditional and Roth IRAs and Coverdell ESAs at the following rate. The rate is accurate as of specified date. Variable rate may change after account is open.
IRAs/ESAs
| Effective as of November 20, 2009 |
| |
Dividend Rate |
Annual
Percentage Yield |
| IRA/ESA savings |
1.10% |
1.11% |
Deposit account information
 Here at the Mayo Employees Federal Credit Union your deposits are first insured by the National Credit Union Administration (NCUA) up to $250,000 on regular deposits and up to $250,000 on your IRA deposits. These numbers are based on how deposits are structured, so in some cases NCUA coverage is actually much higher than this. The Credit Union has also purchased additional deposit insurance from Excess Share Insurance, the largest private deposit insurer. Excess Share Insurance insures your deposits above and beyond NCUA by an additional $250,000 bringing total insurance on regular deposits to $500,000 and IRA deposits to $500,000.
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