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Great news! Our Springfield Gardens branch is currently under renovations to provide our members with a better experience. We understand that during the renovation the service can be impacted and we truly appreciate your patience. However, you can also visit our St. Albans branch to help expedite the service while Springfield Gardens is under renovations. Thank you!

SAVINGS

Great Rates
To Grow Your Savings!

Earn up to 2.02% APY* with a Money Market account or rates up to 4.50% APY** on a 9-Month Share Certificate account.

*APY = Annual Percentage Yield. To earn the APY, a minimum deposit of $0 and a $100,000 minimum balance is required.
**The disclosed Dividend Rates and Annual Percentage Yields are accurate as of the last dividend declaration date. These are the variable rate accounts and the rate may change after the account is opened. Fees and other conditions could reduce earnings.
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Today's Rates

Share Certificate Icon

Share Certificate

9-Month

4.00 %

APY(1)
Share Certificate Icon

Share Certificate

36-Month

3.82 %

APY(1)
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Money Market

$100,000 and Over

2.02 %

APY(2)
Asset 4

Hero Savings

$50,000 and Over

0.05 %

APY(3)
APY = Annual Percentage Yield (OPEN TO READ MORE)

(1) The IRA 18-Month Share Certificate Account is a variable rate account and the rate may change after the account is opened. All other Share Certificate Accounts are fixed-rate accounts. A penalty may be imposed for early withdrawals. For the 15 Month Share Certificate: Minimum Opening Deposit = $0.00. A minimum of $5.00 is required to earn APY. Upon maturity, the 15 Month Share Certificate will roll over into a 12 month Share Certificate.

(2) The disclosed Dividend Rates and Annual Percentage Yields are accurate as of the last dividend declaration date. These are variable rate accounts and the rate may change after the account is opened. Fees and other conditions could reduce earnings.

(3) Minimum Opening Deposit is $0.01, funded by MCU.

Excellent Rates to Boost Your Success with Every Deposit

Whether you’re saving for something specific or just putting money away for the future, MCU is prepared to help you succeed with a variety of savings accounts designed to meet your needs.

Banking That’s Always by Your Side

Digital Banking and the NYMCU Mobile Banking App make it easy to achieve your financial goals with our helpful saving, mobile deposit, and budgeting tools.

With easy-to-use features, you can ensure your goals are met while managing your finances conveniently from anywhere.
Download the Mobile Banking App

Ready to Join the MCU Community?

Apply now to get access to the competitive rates, personal banking products, and educational resources you need to create a foundation for an exceptional financial future.

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FAQs

Can I be sure that my deposits are safe?

The National Credit Union Administration (NCUA) insures MCU deposits, so you can trust that your funds are safe. The NCUA is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions. Your savings are federally insured to at least $250,000 by the full faith and credit of the United States Government. Additionally, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) provides federal production to IRAs up to $1 million (some restrictions may apply depending on roll-over status and uniquely unqualified accounts).

Are my savings insured?

The National Credit Union Administration (NCUA) insures MCU so you can trust that your funds are safe. The NCUA is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions. Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

How are APY and dividend rates determined?

While many factors influence APY rates, the biggest contributing factor is the Federal Reserve (A.K.A. "the Fed"). When the Fed raises or lowers interest rates it affects the entire US financial ecosystem. APYs on products like student loans, credit cards, mortgages and savings accounts are also impacted by such rate changes.

How do I know which savings product is best suited for my needs?

Our member services team would be happy to set you up with an account that meets your needs! Please reach out to speak with one of our member service experts today.

Am I eligible to become an MCU member?

You may be! We welcome members from all over New York. For more details, please visit https://www.nymcu.org/join/becoming-a-member.
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