Savings Information

Each MICU savings account earns competitive dividends. Your deposits also enjoy the protection of federal deposit insurance up to $250,000.

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. 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.

Money Market Account

Get financial strength and flexibility. See how your money can make an impact for you.

Individual Retirement Accounts

Save safely for your future. Your IRA enjoys the protection of federal and private deposit insurance up to $250,000. 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.

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.

Saving Rates

Rates effective as of August 1, 2012.

**Ask about the one-time rate update features on all the above share certificates. Effective August 1, 2012, the "Continuous Add-on" feature is not available.

Rate premiums are available for Encore* checking accounts and for Share Certificate 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. Money Market Account dividends are paid monthly based on the average daily balance. Share deposits are insured by the National Credit Union Association (NCUA) to a maximum of $250,000 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.

Account Type

Rate Type

Minimum Balance

Min. To Earn Dividends

APR

APY

Share
Variable $25 .00 $50.00 and over 0.05% 0.05%

Share Draft
N/A N/A N/A 0.00% 0.00%

Encore Checking
Variable $500.00 $500.00 0.05% 0.05%

IRA Share
Variable $25.00 $50.00 0.25% 0.25%

Money Market
Effective October 1, 2011

Rate Type

Minimum Balance

Min. To Earn Dividends

APR

APY

Silver
Variable $1,000* $1,000* 0.05% 0.05%

* 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
0.10%** 0.10%

1 Year

Fixed

$1,000

$1,000
0.20%** 0.20%

2 Year

Fixed

$1,000

$1,000
0.50%** 0.50%

3 Year

Fixed

$1,000

$1,000
0.70%** 0.70%

4 Year

Fixed

$1,000

$1,000
0.85%** 0.85%

5 Year

Fixed

$1,000

$1,000
1.05%** 1.05%

1 Year IRA

Fixed

$2,000

$2,000

0.45%**

0.45%

2 Year IRA

Fixed

$2,000

$2,000

0.60%**

0.60%

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