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We are currently experiencing intermittent issues with Zelle outbound payment services within Digital Banking. Our team is actively working to resolve the issue as quickly as possible.

We appreciate your patience and understanding as we work to restore full service and enhance your digital banking experience.

Thank you for being a valued member.

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    ABOUT

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    HIGH YIELD SAVINGS

    Earn More, Save More!

    Deposit $5,000 or more of “new to MCU money”** and grow your savings at 3.20% APY*—nearly 8 times+ the national average for traditional savings accounts!
    Log In to Get Started!
    Join MCU Today
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    Big City, Bigger Savings!

    Build your savings faster with High Yield Savings, and make your money work smarter.

    FEATURES & BENEFITS

    Icon-Check-Blue-Desktop HIGHER RETURNS
    Earn 3.20% APY*, nearly 8 times+ the national average for traditional savings accounts. 

     

    Icon-Check-Blue-Desktop NO FEES
    No monthly maintenance fees.

     

     

    Icon-Check-Blue-Desktop EARN MORE 
    Your savings grow faster with daily compounded interest.

     

    Icon-Check-Blue-Desktop SECURE & INSURED
    Deposits are NCUA-insured for peace of mind.

     

     

    Get Started Today!

    How to Open Your High Yield Savings

    Visit Us:
    Stop by your nearest MCU Branch to open your account in person.
     
    Call Us:
    Speak with an MCU representative at 1-844-MCU-NYNY (1-844-628-6969).
     
    Open Online:
    Existing Members - Log in to Digital Banking and navigate to Quick Apply.
    New to MCU? - Start by applying for membership through our online application.
     
    To qualify for the promotional 3.20% APY*, deposit a minimum of $5,000 “new to MCU money”** after your account is opened. 

    Log in to Get Started!
    Join MCU Today
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    How to Fund Your High Yield Savings

    Once your High Yield Savings is open, you can fund it easily through the following options:


    ACH Transfer (via Digital Banking)
    Securely transfer funds from an external bank account via Digital Banking.

    In-Branch Cash Deposit
    Visit your nearest MCU branch to deposit cash directly into your account.

    In-Branch Check Deposit
    Bring a check to any MCU branch and deposit it with a teller.


    Start growing your savings today by choosing the funding method that works best for you!

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    Banking That’s Always by Your Side

    Digital Banking and the NYMCU Mobile Banking App make it easy to achieve your financial goals with helpful 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
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    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.

    Join Us
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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.

    DISCLAIMERS

    *APY=Annual Percentage Yield. The APY is effective as of February 10, 2025. This is a variable rate account and the rate may change after the account is opened.  
    **Eligibility for Advertised APY:  To qualify for the advertised APY, you must deposit $5,000.00 “new to MCU money” directly into the High Yield Savings Account (“Account”). “New to MCU money” is defined as money not currently maintained in any MCU account. Until the minimum of $5,000.00 in “new to MCU money” is deposited, the Account will earn a 0.00% APY. After the required amount of “new to MCU money” is deposited into the Account, there is no minimum balance to earn the advertised APY. Deposits and/or transfers can be made from an existing MCU account at any time, but any deposits or transfers from an existing MCU account will not count towards the “new to MCU money” requirement.  
    Minimum Opening Deposit: A minimum of $100.00 opening deposit is required.  
    Fees: There are no Account specific fees. Standard fees applicable to MCU membership and deposit accounts apply.   
    +Source of average bank savings: FDIC National Rates and Rate Caps published on January 21, 2025. National average is subject to change without notice.  

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