Savings Rates

0.20% APY*
Savings

0.10% APY*
Wincentive® Savings

0.35% APY*
Health Savings

*Annual Percentage Yield
Rates effective as of 11-21-2024
All Deposit Rates
Money Market
Certificates
Checking Accounts

Savings Accounts

Mayo Employees and their families turn to us for a savings account that is both uncomplicated and beneficial. A $5 minimum balance grants you a MEFCU membership and all of the benefits that come with. All of our accounts offer deposit insurance up to $500,000.

Our savings accounts have no monthly fee and are dividend bearing, compounded, and paid quarterly. Also, if you're saving with a specific goal in mind, we can open a sub-savings account to enable you to easily monitor your progress. 

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WINcentive Savings

WINcentive Savings is an option approved by the Minnesota and Wisconsin State Legislatures for their residents. This is a savings account that offers you the chance to win cash prizes. Anytime you increase your savings balance by $25, you are entered to win (up to 4 entries a month). Drawings occur monthly, quarterly, and annually with a grand prize of $5,000.

The money deposited into the account is yours to keep, and you are able to close the account at any time. However, closure will forfeit your contest entries. 

  • 2022 Prize Drawing Schedule

    Table data for 2022 Minnesota Statewide Prize Drawing Schedule
     
    Prize Drawings Number of Winners* Prize Amounts** Drawing Dates Alert Me
    Monthly 50 $100 10th of each month
    Quarterly 5 $1,000 10th of April, July, October and January
    Special Holiday 2 $1,000 12th of December 2022
    Annual 2 $5,000 10th of January 2023
    *Winning one prize category (monthly, quarterly, or annual) does not disqualify a participant from winning a different prize category within the same year. Drawings will occur on or about the 10th of each month, or the next business day, for the previous month and/or quarter end. **Prize amounts and number of winners are subject to change.
    Table data for 2022 MEFCU Prize Drawing Schedule
     
    Prize Drawings Number of Winners* Prize Amounts** Drawing Dates Alert Me
    Statewide Quarterly 1 $100 10th of April, July, October and January
    MEFCU Quarterly 5 $50 10th of April, July, October and January
    Annual 2 $250 10th of January 2022
    Total in 2022 716 $100,000
    *Winning one prize category (monthly, quarterly, or annual) does not disqualify a participant from winning a different prize category within the same year. Drawings will occur on or about the 10th of each month, or the next business day, for the previous month and/or quarter end. **Prize amounts and number of winners are subject to change

 

Health Savings Accounts

For members enrolled in a high-deductible health care plan, we offer HSA accounts which help save funds for qualified medical expenses using pre-tax dollars. Consult your tax advisor to see if this account is right for you.

Switch Kit

Make the Switch

Changing financial institutions is easy with the right tools. Use our switch kit to find all of the forms you will need, and to help ensure that your bases are covered when you make the switch to a better financial future.