Share (Savings) Accounts
Maine Highlands Federal Credit Union encourages thrift and offers a safe and profitable place to save money. There are a variety of savings options available to best suit your needs.
- Regular Share Account - $5.00 Minimum
- Money Market Account - $2,500.00 Minimum
- Clubs: Christmas, Vacation, Critter Club, All-Purpose
- Share Certificate - $500.00 Minimum
All rates are posted on on our dividend rates page; on our lobby rate boards; or contact us at 1-888-806-6920.
Share Draft (Checking) Accounts
With a Maine Highlands Federal Credit Union Share Draft (Checking) Account, we offer these great benefits:
- Unlimited deposits with no per check deposit charges
- Unlimited number of check writing withdrawals
- Duplicate check copies
- Overdraft protection
- No minimum balance requirements
Youth Savers Programs
Maine Highlands Federal Credit Union offers services for all ages. We feel that teaching children to save at an early age will prepare them to be financially independent adults.
As a member of the Monty Moose Youth Savers Program, your 3 to 13 year old child will learn that saving can be fun and beneficial. This program offers many incentives for saving.
Saving money is never easy. But learning to save, spend wisely and establish credit is crucial in today’s world. With a Greenbucks Account, young adults ages 14 to 17 can experience the financial world first-hand by obtaining a checking account, credit card, loans, and more.
What better way to gain financial independence than with Maine Highlands Federal Credit Union.
Share Certificates
Share Certificates are term accounts offered at competitive rates. With Share Certificates, you can lock in an attractive interest rate for a specific period of time. Share Certificates pay higher rates than regular share accounts plus help you avoid the temptation to spend on something else.
- $500.00 minimum deposit
- Rates quoted monthly (rate fixed for the term of the certificate)
- Available for 3,6,12,18,24,36,48 & 60 months
- Share Certificates pay dividends monthly calculated at simple interest and compounded monthly
Individual Retirement Accounts (IRA's)
If you are a wage earner or self-employed, you are eligible to start an IRA (Individual Retirement Account). IRAs are special savings accounts that are tax deferred. This means you pay no taxes on annual contributions or the accumulating interest until funds are withdrawn. Contributions are limited to earned income only and the maximum contribution amount changes from year to year. Contributions may not be made for or after the year in which you reach 70 1/2.
Withdrawals are permitted anytime but may be subject to a penalty if you have not reached the age of 59 1/2. When you begin making withdrawals, you will be taxed only on the amount withdrawn. The remaining funds continue to earn tax deferred interest.
Roth and Coverdell Education Savings Accounts are also available.
Health Savings Accounts
Use pre-tax dollars to pay for future medical expenses. You will be able to deduct your contributions to your HSA, and account earnings will accumulate on a tax-deferred basis. Best of all, distributions from your HSA are tax-free if they are used for medical expenses.
NCUA
With Maine Highlands Federal Credit Union, your accounts are insured with the National Credit Union Association (NCUA). NCUA is an agency of the federal government which insures the safety of your accounts with us. As a member of NCUA, we operate under strict federal and state financial regulations and are regularly monitored to ensure that we always serve our members’ best interests.
No depositor has ever lost a single dollar of NCUA protected money.