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Saginaw Medical Federal Credit Union Go to main content

Savings Account Products


Save money, secure your future. Let us make it easy for you. Our savings account features:

  • $5 minimum opening deposit
  • No monthly fee or direct deposit requirements
  • Competitive rates at $250

Club Savings

Second Savings
Just another way to save or keep your tax, college or other funds separate from your regular savings

Christmas Club
The holidays always seem to sneak up on us. Prepare for next year's holiday expenses by opening a Christmas Club account, no matter what time of year it is.

Here's how it works:

  • You regularly set aside a small amount of money from your payroll or other deposits.
  • Your savings earns a competitive dividend rate.
  • Funds are automatically transferred to your regular savings the first of October each year.
  • Shop Away!

Vacation Club
Stop dreaming about taking that luxury cruise or family vacation and start saving! Open a Vacation Club Account and you can set aside money throughout the year to make your vacation dreams come true.

MONEYPlus Money Market Account

If you're seeking higher earning power with some flexibility, a MONEYPlus Account could be your answer. MONEYPlus Accounts earn higher money market rates with limited withdrawal options. Funds are easily accessible with free personalized checks and no set term or maturity.

  • $2500 minimum balance
  • $500 minimum withdrawal
  • Up to 6 withdrawals per month

Certificate of Deposit

Certificates of Deposit are available with various maturities and minimum deposits. Interest can be compounded, deposited to your savings account, checking account, or mailed to you. There is a penalty for early withdrawal from a certificate.

Effective Date: Tuesday, March 28th, 2017
TermAnnual Percentage Rate (APR)Annual Percentage Yield (APY)Dividends Compounded & CreditedMinimum Balance to Earn Dividends
7 Month Youth CD 4.000% 4.000% Monthly (see below) $500 - $700
6 Month 0.300% 0.300% Monthly $500 and over
12 Month 0.450% 0.451% Monthly $500 and over
24 Month 0.600% 0.602% Monthly $500 and over
36 Month 0.747% 0.750% Monthly $500 and over
All certificates require a $500 minimum balance to open the account and earn the stated APY. For 7 Month Youth Certificate accounts, any accrued dividends will be transferred to your share account monthly; only the principal amount will renew. Substantial penalty for early withdrawal. Call the credit union for complete disclosures at 989-791-7070 ext. 3503.

Individual Retirement Accounts

IRAs earn excellent rates while providing you with a tax shelter for your retirement. Interest is paid monthly. There are no fees for this service.

Other Investment Services

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