Savings
Midwest Partners Federal Credit Union provides you the opportunity to save by offering you several share accounts to choose from. With a minimum of $25.00 in a share savings account, it is easy to get started.
Share Savings
Our share (savings) account is a great way to start saving for your future. With a minimum of only $25.00 you can be a member of the credit union and be eligible for any other accounts that we offer. Once your account has reached $100.00 you will begin to earn dividends.
Share Certificates
Our Adjust-A-Rate Share Certificates earn attractive rates with the option of selecting any term from 6 months to 60 months. The minimum balance for a share certificate is $500.00. All of the certificates except for the 6 month may be bumped up one time during the term. All certificates automatically renew unless specified at the time of purchase.
IRA Share Certificates
This account is used for the purpose of saving for your retirement. Just put money in this account a little at a time or so much from each paycheck and once the account reaches $250.00 you may transfer it to a IRA share certificate to earn a higher rate.
IRA Share Certificates (Individual Retirement Accounts)
RAs are savings accounts designed to help wage earners save for retirement. Accumulate funds in your IRA share account and then transfer to an IRA share certificate once it reaches $250.00 for higher earnings.
- No enrollment or maintenance fees.
- IRAs are separately insured up to $250,000 by the NCUA.
- Contact your tax advisor or financial planner for which IRA is best for you
Traditional IRAs
- Money you contribute is usually tax deductible.
- Dividends that you earn are tax-deferred, meaning you pay taxes on them when you withdraw them.
- Distributions must be taken beginning at age 70 1/2.
- Distributions, the money that you withdraw, are generally taxable, but there's no penalty if withdrawn under one of the following circumstances:
- Reaching age 59 1/2
- You're disabled
- Paying for certain health insurance, medical expenses, and higher education expenses
- First-time home purchase
- Death
Roth IRAs
- Money you contribute is not deductible
- Dividends you earn grow tax-free
- Money you contribute can be withdrawn tax-free and penalty-free at anytime
- Distributions are not required at age 70 1/2
- Dividends can be distributed tax-free and penalty-free if the Roth IRA has been open at least five years and one of the following things happen:
- Reaching age 59 1/2
- You're disabled
- Purchasing a home
- Death
Money Market
For members who keep a high savings balance and want liquidity, you might want to check out our new money market account.
- Balances are from $2,500.00 to over $25,000.00
- 4 different tiers
- No term
- Dividends compounded daily, paid monthly
- Insured up to $100,000 by the National Credit Union Administration, a US government agency
Christmas Club
Start saving today for a happier Holiday Season by opening a $5.00 minimum balance Christmas Club account. Have some of your paycheck deposited into this account every payday. The account will start to earn dividends once it has reached $100.00.
The Christmas shares are transferred to your regular share account on the last business day of October so you can get a jump start on your holiday shopping.
Scottie Savers
Our Scottie Savers Club is designed for the young savers ages 0 -16. When you join the Scottie Savers Club, you will receive a starter kit which includes:
- Passbook
- Passbook Cover/Buck Holder
- Membership Card
- Sticker
- Coin Saver Book
- View Scottie Bucks Items
For each month that you make a deposit, your membership card will be punched. With twelve consecutive punches, you will receive a rubber Scottie stamp. You will also be invited to participate in Scottie Saver events sponsored by Midwest Partners FCU. Past events included:
- Christmas at Gigglebees
- Picnic at the Zoo
- Fun and Food at Wildwater West
- Magic Show and Pizza at Sertoma Park
- Coloring Contests
Gold & Beyond Club
If you are over 50 years of age and reside in Minnehaha or Lincoln Counties in South Dakota, you are eligible to join our Gold & Beyond Club. When you join the Gold & Beyond club for just $5.00 a year, you receive the following items free:
- Sharedraft account
- 2 boxes of checks per year
- Printouts
- Money Orders
- Travelers Checks
You also get the opportunity to take part in Gold & Beyond activities such as picnics and trips. If you are interested in this fun club, stop by today and join!
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency
