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Savings Accounts


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Savings Account

By opening up a savings (share) account, you establish your membership at Mutual 1st Federal. Each member must hold a minimum balance of $5.00 in a share savings account to maintain a membership with the credit union.

Savings Account Features:
  • Dividends paid quarterly
  • No minimum balance (after $5 membership)
  • No monthly fees when enrolled in estatements
  • Free direct deposit
  • Free online and mobile banking with mobile deposit

Money Market Accounts

Money Market accounts are the best of both savings and checking accounts. As your money grows you will earn higher rates while still being able to make withdrawals when you need to access funds.
First Market Money Market Account High Yield Money Market Account
Dividend Rate .15% APY* for balances $2500 - $24,999.99. .20% APY* for balances over $25,000 .30% APY* for balances over $50,000
Minimum balance required to earn dividends $2,500 $50,000
Monthly fee $15 (waived on balances over $2500); no fees for statements when enrolled in estatements $15 (waived on balances over $50,000); no fees for statements when enrolled in estatements
Dividends Paid Quarterly
Withdrawals 6 free withdrawals per month 1st withdrawal free; $5.00 per withdrawal after
Access funds Via check or transfers using online or mobile banking Via check or transfers using online or mobile banking
Online banking Free Free
Mobile banking with mobile deposit Free Free
Direct deposit Free Free
Open Account Open Account
Not a member? Join us Not a member? Join us

Your Money Market Account is safe and secure, insured up to $250,000 by the National Credit Union Administration (NCUA).

Certificate Accounts

Mutual 1st Federal certificates are a solid choice for your savings needs. You will receive attractive yields on terms from 6 to 60 months. Start a certificate today with as little as $1,000 and watch your money grow, on your terms.

Certificate Account Features
  • Compounding interest allows the certificate to grow and reinvests the dividends, resulting in a higher yield
  • Option to receive certificate dividends as they are paid, instead of compounding
  • Fixed rates
  • Terms from 6 months to 5 years
  • Penalty for early withdrawal*
  • $1,000 minimum deposit; $500 minimum deposit for minors
  • Members are notified when certificates reach maturity
  • Certificates are automatically renewed 5 days after maturity unless otherwise requested*

Our Save to Win certificates have unique features, view details here.

*APY = Annual Percentage Yield. APY assumes dividends will remain on deposit until certificate maturity date. Standard certificates are automatically renewed at maturity to same term as original certificate; specialty certificates are automatically renewed to 12 month term. Penalty for early withdrawal; standard certificate penalty is 90 days of dividends; specialty certificates penalty is 180 days of dividends. Withdrawals or fees may reduce earnings. Minimum balance $1,000. Minimum balance for Youth Accounts is $500 (under age 18).

IRAs (Individual Retirement Accounts)

Boost your retirement or educational savings with a separate account from Mutual 1st Federal. We offer Roth IRAs, Traditional IRAs and Coverdell Education Savings Accounts as additional savings options for you.

Traditional Individual Retirement Account (IRA)

If you wish to have transactions approved when funds are not available in your checking account, you will need to complete this form and ‘opt-in’ to agree to pay an overdraft fee, otherwise the transaction will be denied.

Roth IRA

Contributions are taxed up front with a Roth IRA, but earnings are withdrawn tax-free as long as you are at least 59 ½, the account is at least 5 years old and you meet other income requirements. *

Coverdell Education Savings Account

Earnings in a Coverdell ESA grow tax-free if distributions are used for qualified education expenses.* This account is available as a savings or certificate account with annual contribution limits of $2000.

We recommend consulting a tax advisor to help you make the best choice for IRAs, then call us or visit us to open the IRA that will work best for you.

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