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Checking & Savings > Savings Accounts
Savings Accounts
The more money you have in your account, the more money you make. That's because you earn dividends (interest) on your balance. MCT offers several kinds of savings accounts.
Regular Savings
- $5 minimum to open and it establishes your membership in MCT
- Earn dividends on balances of $5 ($100 if you're 18 years or older)
- Dividends are compounded and paid monthly
Holiday Club Savings*
- No minimum balance requirement
- Set aside as much as you like each month — make it easy by setting up automatic transfers
- Funds saved throughout the year are automatically transferred to a share of your choice on November 1st just in time for holiday shopping
- Dividends are compounded and paid monthly
Vacation Club Savings*
- No minimum balance requirement
- Set aside as much as you like each month — make it easy by setting up automatic transfers
- Withdrawals are limited to one per quarter, which allows you to use the money for winter, spring, or summer breaks
- Dividends are compounded and paid monthly
Summer Paycheck Savings*
- No minimum balance requirement
- A great way to manage money and save for summer expenses
- Funds saved throughout the year are automatically disbursed bi-weekly in July and August in equal transfers to a share of your choice
- Dividends are compounded and paid monthly
* To help you resist the temptation to dip into your club savings accounts, withdrawals are restricted and subject to a withdrawal fee. (See fee schedule for details.) If there is no activity on the savings for six (6) months, and there is a zero balance, the savings will be closed.
