Melrose Federal Credit Union is offering a 1.26% APY on its share savings account. This may not seem very competitive, but when other banks and credit unions are offering between 0.20% and 0.50% for theirs, it sounds a lot better, right?
Here are some basics of this account:
- Initial deposit of $25 required
- Dividends are paid on a quarterly basis
- NCUSIF (National Credit Union Share Insurance Fund) Insured up to $250,000
Since the share savings account is linked with membership to the credit union, you must also pay a one-time membership fee of $1 to open the account.
Membership is open to anyone living New York State (there are no geographic or group affiliation field of membership restrictions). To get started, fill out the online membership application.
Other Terms and Conditions may apply. Additionally, rates may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.
