Personal Accounts

Regular Share Savings

An initial deposit of only $25.00 in a Share (Savings) Account, which remains for the life of the account, makes you a member of our credit union family and eligible for all other credit union products and services. This deposit buys you a share of the credit union and allows you to earn dividends. Dividends are calculated and paid quarterly on a split rate basis. 

We have a Silver Savers feature for our devoted members over the age of 55. Simply tell us during your next transaction that you would like to be part of our Silver Savers Club in order to receive one free box of checks per year.

Scotty Savers

Children ages birth through 12 years and 11 months may open a Scotty Saver Youth Account to begin learning about savings. Scotty Saver Accounts require an individual over the age of 18 to be a joint owner. With the $25.00 Share Deposit, these accounts earn the same dividends as regular Share (Savings) Accounts. With every deposit, the child can choose a toy from the toy box.

Teen Savers

Teenagers ages 13 through 17 years and 11 months may open a Teen Saver Account to have fun and learn more about financial matters. Teen Saver accounts require an individual over the age of 18 to be a joint owner. With the $25.00 Share Deposit, these accounts earn the same dividends as regular Share (Savings) Accounts. Classes may be held periodically to go over financial literacy topics that are specific to teens, like how to balance a checkbook, save for college, and what to look for in your first car.

Teen Saver Accounts are eligible to add Share Draft (Checking) Accounts once the member has turned the age of 16. Teen Saver Checking Accounts may use a debit card, but the debit card must be issued in both the teen and joint owner’s names.

Share Draft (Checking)

We offer a Share Draft (Checking) Account structured for members who would like the convenience of writing checks or would like to utilize our Online Bill Pay service. A $50.00 deposit, which is available for immediate use, is all that is required to open a Checking Account.

Our Checking Account includes:

Three Individual Retirement Account (IRA) options are available through Members Choice as excellent tools to save for retirement. Depending on the type of IRA you choose, contributions may be tax deductible and will grow either tax-deferred or tax-free. Dividends are paid and posted quarterly. Share Certificates are also available for your IRA account.

• Traditional IRA 

• Roth IRA 

• Education Savings Account (ESA) – This account is an excellent way to help a child, grandchild, or other young children start saving for educational purposes. Your ESA can be used to pay qualified elementary school and secondary school expenses as well as those for higher education. Even though there is no tax deduction for amounts contributed to an ESA, earnings grow tax-free.

• IRA Share Certificates

Share Certificate Accounts allow you to earn a higher interest rate when you place your money in the account for a certain period of time. We offer 6-month, 12-month, and 24-month Share Certificates that require a minimum balance of only $1,000.00.

Escrow

Escrow Accounts are separate accounts that members with their Mortgage Loan at MCWV use to ensure their mortgage taxes and insurance are paid. Payments are made straight from the credit union, and the member does not have access to their Escrow Account.

Miscellaneous Club Savings Account

Miscellaneous Club Accounts are separate accounts that members use to save for anything! Checks are not mailed out at any specific time, and you may request a check or transfer to another account at any time.

Vacation Club Account

Vacation Club Accounts are separate accounts that members use to save for vacation or other upcoming events. Checks are not mailed out at any specific time, and you may request a check or transfer to another account at any time.

Christmas Club Account

Accounts can be opened for any amount of money that you wish to set aside in order to save up for the holidays. The entire balance will be paid and transferred to your Regular Share (Savings) on October 31, and the Christmas Club Account will remain open.

Share Certificate Accounts allow you to earn a higher interest rate when you place your money in the account for a certain period of time. We offer 6-month, 12-month, and 24-month Share Certificates that require a minimum balance of only $1,000.00.