|
Savings
Each
MICU savings account earns competitive dividends. Your deposits
also enjoy the protection of federal deposit insurance up
to $100,000. Balances from $100,001 to $350,000 are covered
by private insurance provided by American Share Insurance, the nation's largest
private credit union share insurer. This combination of federal
and private coverage gives you peace of mind you won't get
from the stock market.
Regular share savings
This is your basic account for membership. To join Musicians' Interguild Credit Union,
you must open a regular share savings account
with a minimum of $25 and pay a $2 lifetime membership fee.
This account earns competitive dividends on balances above
$50.
Term share certificates (CDs)
Lock in a higher yield for your choice of terms from six
months to five years.
Individual Retirement Accounts
Save safely for your future. Your IRA enjoys the protection
of federal and private deposit insurance up to $350,000, separate
from and in addition to the coverage on your savings accounts.
We offer Traditional and Roth IRAs, each with its own possible
tax benefits. Consult your tax advisor to find out which is
better for you.
The maximum annual contribution for IRAs was raised for
the 2002 tax year, and will increase incrementally until
2008. In addition, taxpayers who are 50 or older may make
extra "catch-up" contributions above the regular limit.
The additional amount permitted will be $500 for 2002 through
2005, and $1,000 for 2006 through 2008.
Traditional
IRA
May give you a tax break while you're working, as your annual
contributions may be deductible. You'll pay taxes on withdrawals
at retirement, when you're likely to be in a lower tax bracket.
Roth IRA
Your annual contributions are non-deductible, but your withdrawals
at retirement, including earnings, will be tax-free.
Coverdell Education Savings Account
A great way to save for a child's future education. Non-deductible
annual contributions of up to $2,000 are permitted, and withdrawals
are tax-free if used for qualified educational expenses.
Looney Tunes Savings Club
The Bugs Bunny club is a fun way for kids up to age 18 to
save money and learn good financial habits.
Rates
Rates
effective as of April 21, 2008
|
Account
Type
|
Rate
Type
|
Minimum
Balance
|
Min.
To Earn Dividends
|
APR
|
APY
|
|
Share
|
Variable
|
$25
|
$50-2,500
|
0.73%
|
0.73%
|
| |
|
|
$2,501-10,000
|
1.08%
|
1.08%
|
| |
|
|
$10,001-100,000
|
1.24%
|
1.25%
|
|
Share Draft
|
Variable
|
$0
|
$500
|
0.25%
|
0.25%
|
|
Encore Checking
|
Variable
|
$500
|
$50
|
0.25
|
0.25%
|
|
IRA Share
|
Variable
|
$25
|
$50
|
1.23%
|
1.24%
|
|
Money Market
Effective May 1, 2008
|
Rate Type
|
Minimum Balance
|
Min. To Earn Dividends
|
APR
|
APY
|
|
Silver
|
Variable
|
$1,000*
|
$1,000*
|
3.00%
|
3.04%
|
|
Gold
|
Variable
|
$10,000*
|
$10,000*
|
3.15%
|
3.20%
|
|
Platinum
|
Variable
|
$100,000*
|
$100,000*
|
3.40%
|
3.45%
|
|
* If your balance falls below the minimum balance, your Money Market account will earn the corresponding Share Dividend rate.
|
|
Share
Certificates
|
Rate
Type
|
Minimum
Balance
|
Min.
To Earn Dividends
|
APR
|
APY
|
|
6 Months
|
Fixed
|
$1,000
|
$1,000
|
3.25%** |
3.29% |
|
1 Year
|
Fixed
|
$1,000
|
$1,000
|
3.25%** |
3.29% |
|
2 Year
|
Fixed
|
$1,000
|
$1,000
|
3.50%** |
3.55% |
|
3 Year
|
Fixed
|
$1,000
|
$1,000
|
3.65%**
|
3.70%
|
|
4 Year
|
Fixed
|
$1,000
|
$1,000
|
3.65%**
|
3.70%
|
|
5 Year
|
Fixed
|
$1,000
|
$1,000
|
3.65%**
|
3.70%
|
| |
|
|
|
|
|
|
6 Months
|
Fixed
|
$10,000
|
$10,000
|
3.35%** |
3.39% |
|
1 Year
|
Fixed
|
$10,000
|
$10,000
|
3.35%** |
3.39% |
|
2 Year
|
Fixed
|
$10,000
|
$10,000
|
3.60%** |
3.65% |
|
3 Year
|
Fixed
|
$10,000
|
$10,000
|
3.70%**
|
3.75%
|
|
4 Year
|
Fixed
|
$10,000
|
$10,000
|
3.70%**
|
3.75%
|
|
5 Year
|
Fixed
|
$10,000
|
$10,000
|
3.70%**
|
3.75%
|
| |
|
|
|
|
|
|
1 Year IRA
|
Fixed
|
$2,000
|
$2,000
|
3.45%**
|
3.49%
|
|
2 Year IRA
|
Fixed
|
$2,000
|
$2,000
|
3.80%**
|
3.85%
|
Ask
about the continuous add-on and one-time rate
update features on all above share certificates.
**Add .10% for Encore Checking accounts or for Share Certi cates over $100,000. Contact the Credit Union for details.
Dividends are based on the credit union's earnings at the end
of the dividend period and cannot be guaranteed.
All dividends are paid quarterly.
Share deposits are insured by the National Credit Union Association
(NCUA) to a maximum of $100,000 for each depositor.
IRA's are separately insured by NCUA to a maximum of $250,000.
The above rates and terms are subject to change without notice.
There is a substantial penalty for early withdrawal of certificate
funds other than dividends.
There may be a penalty for early withdrawal of IRA funds.
*Looney
Tunes characters, names and all related indicia are trademarks
of Warner Bros. Inc. |
