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Certificates of Deposit (CD)


Traditional or IRA CD

Enjoy a risk-free investment with a Missouri Credit Union (MCU) Certificate of Deposit (CD). The interest rate and Annual Percentage Yield (APY) is fixed when the deposit is made and will remain until the maturity date.

  • Minimum balance is just $500;
  • Terms range from 3 months to 60 months; and
  • Interest is compounded and paid quarterly.

When you purchase a CD from a personal financial officer at any MCU location or over the phone, you choose the maturity (term) that meets your needs. MCU pays you a high yielding, competitive rate on your money for the term of the CD. Because you've agreed to keep your money at your credit union for the length of your chosen term, your money should remain in the CD until it matures to earn the high yielding APY.

Certificate of Deposit Rates   Special Certificate of Deposit Rate

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Payroll Deposit CD (PDCD)

MCU makes it easy to save and earn high rates! With a PDCD you can open and add to a high yielding CD with just your payroll deposit!

  • Choose a high yielding term from 18 months to 60 months;
  • You can start AND add to your PDCD with a minimum payroll deposit (see below); and
  • Increase the payroll deposit amount to your PDCD anytime and save even more!

Minimum payroll deposits:

  • Monthly payroll deposit to a PDCD is $20 minimum.
  • Bi-weekly payroll deposit to a PDCD is $10 minimum.
  • Weekly payroll deposit to a PDCD is $10 minimum.

Payroll Deposit Certificate of Deposit Rates

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Disclosure for IRA CD, Traditional CD or PDCDs

Rate Information — For current rate information, please ask a personal financial officer at any MCU location for a current rate sheet.

Compounding Frequency — Unless otherwise paid, interest will be compounded every quarter.

Crediting Frequency — Interest will be credited to your account every quarter. You also may choose to have interest paid to another MCU account every quarter rather than credited to this account.

Dividend Period — The interest period is quarterly.

Minimum Balance Requirements — The minimum balance required to open a Certificate is $500.00 or $10.00 by payroll deposit for PDCD.

Daily Balance Computation Method — Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of Interest on Non-Cash Items — Interest begins to accrue on the business day you deposit non-cash items (for example, checks) to your account.

Transaction Limitations — After the account is opened, you may not make additions into the account until the maturity date stated on the account, except by payroll deposit to a PDCD. You may make withdrawals of principal from your account before maturity only if we agree at the time of your request. Principal withdrawn before maturity is subject to early withdrawal penalty.

Time Requirements — Your account will mature at the end of the term you have chosen.

Withdrawal of Interest Prior to Maturity — The annual percentage yield is based on an assumption that interest earned and posted will remain in the account until maturity. A withdrawal will reduce earnings.

Early Withdrawal Penalties — A penalty may be imposed for withdrawals before maturity.

  1. If your account has an original maturity of one year or less: The penalty we may impose will equal 91 days interest dividends on the amount withdrawn subject to penalty.
  2. If your account has an original maturity of more than one year: The penalty we may impose will equal 182 days interest dividends on the amount withdrawn subject to penalty.
  3. Under certain circumstances, such as the death or incompetence of an owner, we may waive or reduce this penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.

Automatically Renewable Account — This account will automatically renew at maturity. You may redeem your certificate when you withdraw the funds at maturity (or within the grace period mentioned below) or we receive written notice from you within the grace period mentioned below. We can redeem if we mail notice to you at least 30 calendar days before maturity. If either you or we redeem, interest will not continue to accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new term accounts on the maturity date which have the same term, minimum balance and other features as the original account. Promotional CDs renewal term and rate may vary based on the special promotion.

There is a grace period of 10 calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

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Policies and Disclosures