Our Term Savings Accounts offer a path to higher returns
With a minimum balance requirement of just $2000, you can embark on a journey of financial growth with term periods ranging from 3 months to 2 years.
Similar to a Certificate of Deposit (CD), a Term Savings account is a commitment—a pledge to set aside a fixed amount of at least $2,000 for a predetermined period. In exchange for this commitment, we reward you with a dividend rate that surpasses what you'd earn in a regular savings account.
Open a Term Savings account right from the comfort of your home or on the go using our MSEFCU Online Banking or Mobile App!
Here's how to get started:
• Log in to your account (Please note: You must have a minimum of $2,000 in your account to proceed with opening a Term Savings account.)
• In the left Menu, locate and click on your name at the bottom
• In the left Menu, locate and click on your name at the bottom
• Select "Apply for a Loan/Purchase Term"
• Click on "Open a New Term Deposit"
• Choose your desired Term Savings length and proceed to the next step
• Review the term information provided, select it, then continue
• Read through the disclosure carefully, then click "Agree & Continue"
• Select "Electronic transfer" and proceed
• Choose your term maturity option—either “Renew” to renew your term or “Transfer”
• Click on "Open a New Term Deposit"
• Choose your desired Term Savings length and proceed to the next step
• Review the term information provided, select it, then continue
• Read through the disclosure carefully, then click "Agree & Continue"
• Select "Electronic transfer" and proceed
• Choose your term maturity option—either “Renew” to renew your term or “Transfer”
• If you choose “Transfer,” select the account you want the funds to transfer to and enter the amount
• Verify that all entered information is accurate, then click "Next"
• Once the confirmation screen appears, click "Done"
• Once the confirmation screen appears, click "Done"
It's that simple! Start maximizing your savings potential today with our Term Savings accounts.
Term Savings Disclosure:
1. Dividends are paid monthly and at maturity; earned from the date of deposit to date of withdrawal.
2. For early redemption of the term savings account, there is a loss of 90 days dividends with a term of 1 year or less. On term accounts over 1 year, the redemption penalty is 180 days’ dividends.
3. At purchase, you will choose whether this term savings account will automatically renew for the same term at the then current rate or have all funds (including final dividends) automatically transferred into the share account you select. A maturity notice will be mailed to you prior to maturity.
4. Ownership of this term savings account shall be designated on the most current membership application/account agreement card on file at Merced School Employees Federal Credit Union.
1. Dividends are paid monthly and at maturity; earned from the date of deposit to date of withdrawal.
2. For early redemption of the term savings account, there is a loss of 90 days dividends with a term of 1 year or less. On term accounts over 1 year, the redemption penalty is 180 days’ dividends.
3. At purchase, you will choose whether this term savings account will automatically renew for the same term at the then current rate or have all funds (including final dividends) automatically transferred into the share account you select. A maturity notice will be mailed to you prior to maturity.
4. Ownership of this term savings account shall be designated on the most current membership application/account agreement card on file at Merced School Employees Federal Credit Union.
