Savings Accounts
Minimum opening deposit for savings is $5. Minimum balance required for Money Market Savings to earn stated rate is $2,500. Annual percentage yield is accurate as of specified date.
| Effective as of November 20, 2009 |
| Savings Accounts |
Dividend Rate |
Annual
Percentage Yield |
| $0 - $2,499.99 |
.40% |
.40% |
| $2,500 - $9,999.99 |
.50% |
.50% |
| $10,000 - $24,999.99 |
.60% |
.60% |
| $25,000+ |
.75% |
.75% |
| Money Market Savings |
|
|
| $2,500 - $9,999.99 |
.65% |
.65% |
| $10,000 - $24,999.99 |
.75% |
.75% |
| $25,000 - $49,999.99 |
.90% |
.90% |
| $50,000 - $99,999.99 |
.90% |
.90% |
| $100,000+ |
1.14% |
1.15% |
| Premium Money Market Savings |
|
|
| $20,000 - $24,999.99 |
1.14% |
1.15% |
| $25,000 - $49,999.99 |
1.14% |
1.15% |
| $50,000 - $99,999.99 |
1.29% |
1.30% |
| $100,000+ |
1.39% |
1.40% |
 Deposit account information
Checking Accounts
Minimum opening balance $25. Rate may change after account is opened. Dividends are compounded and credited monthly.
| Effective as of November 20, 2009 |
| Checking Accounts |
Dividend Rate |
Annual
Percentage Yield |
| $0 - $2,499.99 |
.10% |
.10% |
| $2,500+ |
.20% |
.20% |
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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