Savings Information

Each MICU savings account earns competitive dividends. Your deposits also enjoy the protection of federal deposit insurance up to $100,000.

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 and pay a $2 one-time 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.

Money Market Account

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 insurance up to $250,000, 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.

Saving Rates

Rates effective as of February 1, 2012

**Ask about the continuous add-on and one-time rate update features on all above share certificates 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	0.10%	0.10%
Share Draft	N/A	N/A	N/A	0.00%	0.00%
Encore Checking	Variable	$500.00	$500.00	0.10%	0.10%
IRA Share	Variable	$25.00	$50.00	0.50%	0.50%
Money Market Effective October 1, 2011	Rate Type	Minimum Balance	Min. To Earn Dividends	APR	APY
Silver	Variable	$1,000*	$1,000*	0.10%	0.10%
* 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	0.60%**	0.60%
3 Year	Fixed	$1,000	$1,000	0.80%**	0.80%
4 Year	Fixed	$1,000	$1,000	1.45%**	1.45%
5 Year	Fixed	$1,000	$1,000	1.50%**	1.50%

1 Year IRA	Fixed	$2,000	$2,000	0.85%**	0.85%
2 Year IRA	Fixed	$2,000	$2,000	1.00%**	1.00%

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