Standard Saving Services
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Share Savings Accounts
An initial $25 deposit in a share savings account entitles you to
be part-owner of Minnesota Valley Federal Credit Union, and eligible
for all other credit union services. With a $100 minimum deposit,
your entire balance earns a very competitive rate of daily interest,
in the form of dividends declared by your board of directors
monthly.
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Money Market Accounts
Earn more interest when you save more with a Money Market
Account. You’ll still have easy access to your money and retain
the security of federal deposit insurance. A higher dividend is paid
on accounts with $1,000 or more on deposit; premium dividends are
paid on accounts with $10,000 or more on deposit. If your balance
falls below $1,000, your account will earn the regular share
dividend.
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Holiday Club Accounts
Plan ahead to avoid the financial pressure the holidays can
bring. Deposit a set amount in a Holiday Club Account every pay day,
and you’ll have the money you need for gifts, travel,
entertainment, etc. when that time of year rolls around. Make
deposits in person, by mail, or via payroll deduction. Withdrawals
prior to maturity will be subject to penalty.
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Vacation
Savings Accounts
Looking
for a way to save money for that special vacation for you and your
family or just need to get away when the weather is tends to e
difficult? Or maybe you have longer range plans for the summer
months. Invest in a high yield savings account with Minnesota
Valley. Deposits can be made to the account with a monthly maximum
of $300.00. Interest on this account currently has an Annual
Percentage Yield of 2.40% and accrues interest annually. This
account matures May 31 of each year and deposited into your
savings on June 1. Interest is subject to change and early
withdrawal of principal may result in loss of interest.
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U.S. Savings Bonds
Buy Series EE or Series I U.S. Savings Bonds at your credit
union. A member service representative will be glad to help
you.
Deposit Insurance
Your deposits in Minnesota Valley Federal Credit Union are insured to
$100,000 per member by the National Credit Union Administration, an
agency of the U.S. Government. IRA deposits in your credit union are
insured to an additional $250,000 per member.
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