A penny saved is not enough

Ben Franklin was on the right track when he told people a penny saved is a penny earned. Saving money isn’t easy but we gotta do it to afford the boat, the house, the trip to Vegas or that retirement home in Florida.

At MICU we make saving simple. Those pennies in that bedroom change jar add up, but they don’t earn interest. By socking money away in a federally insured savings account at MICU, your money works for you. And the more you save, the more you earn.

Because MICU is not-for-profit and member-owned, profits are returned to members in the form of better rates. Open a savings account for as little as $5 and begin building your financial security. Join us now. Here are a few reasons why you should save with us:

• No (you heard right) no IRA set-up, withdrawal or service fees.
• Only $5.00 minimum balances on primary accounts -- dividends on savings accounts, paid quarterly on balances of $100 or more.
• Savings accounts are overdraft protection for checking accounts. 
• Free ATM card with savings accounts
• 24/7 account access with online and telephone banking
• Direct deposit/Payroll Deduction—you don’t see it, you don’t spend it.

IRAs -- We offer Traditional, Roth, and Education Individual Retirement Accounts and higher dividends on IRA certificates. Thanks to the biggest tax cut in 20 years, retirement plans are more powerful.  You can contribute more to Individual Retirement Accounts than ever before.

IRA’s are a smart savings tool for a home, college education or retirement. And more people are eligible for tax-deductible contributions to IRA's. The only penalties for early withdrawal are the ones Uncle Sam imposes. We’re too nice to charge additional fees. Check our rates. 

Share Certificates of Deposit—Mid-Illini Saving Certificates pay higher rates than most financial institutions. We offer a variety of monthly terms with a $500.00 minimum deposit with dividends paid monthly. Certificates may be rolled over or withdrawn at maturity.  Interest can be added to the certificate, mailed to you monthly, or deposited into a savings account.  We offer date of purchase rate for term-of-purchase or weekly rates.  Check our rates.

Christmas Club Accounts—give those high-rate department store credit cards a rest.

Money Market Accounts—a flexible savings/checking account with no monthly fee if you maintain a $2,500 minimum balance.

Youth Savings Accounts (remember what Ben said!) -- open an account for as little as $5.00 and kids earn prizes as they and their savings grow!  Give kids the gift of a savings account. They love getting money and if you match what they save, they won’t blow their allowances at the mall.

Got questions? Click here or call, our awesome staff can’t wait to answer them. Call us at 309-661-1166 or 800-527-2205.