Checking and Savings
McCoy Federal offers members a variety of products and services for their personal financial needs, whether it's for daily use of your money or for growing your savings at high dividends.
The basic savings account that every member must have in order to retain membership in the credit union. Earns dividends--usually at a higher rate than most other financial institutions pay-- and acts as overdraft protection for your checking account.
- Open your Savings Account for $15 or more which includes a $10 non-refundable membership fee.
- Keep just $50 in the account at the end of the month to avoid a service fee.
Checking (Share Draft) Accounts
Checking (Share Draft) account offers no monthly service fee with an average daily balance of $500 or a loan..
Checking includes:
- Unlimited check writing
- FREE Direct Deposit
- FREE Visa Debit/ATM card
- FREE 24/7 online access with My McCoy & Toni the Teller
- FREE Bill Payer
- FREE E-Statements
- Overdraft Protection & Overdraft Privilege available
Fresh Start Checking includes:
- Write as many checks as you want each month
- FREE Direct Deposit
- FREE Visa Debit/ATM card (some restrictions apply)
- FREE 24/7 online access with My McCoy & Toni the Teller
- FREE Bill Payer
- FREE E-Statements
- Overdraft Privilege (some restrictions apply)
For information, call 407-855-5452 or 1-888-584-7701 (outside Orange County)
To order Checks by phone: 1-800-355-8123
To order Checks online: www.ClarkeAmerican.com/checks
The McCoy Federal Visa DebitCard is both a plastic check and an ATM card. It's everything you've been looking for in a checking account minus the high prices.
- Pay for your purchases wherever Visa is accepted and the amount of your purchase comes from your checking account.
- It's quick and easy and you avoid all the hassles of having to write checks.
- Your McCoy Federal Visa DebitCard is also your ATM card.
- Use it to withdraw cash, check balances, or make deposits.
- Free when you open your McCoy Federal Checking Account.
Individual Retirement Accounts (IRA)
Individual Retirement Accounts (IRAs) are great tax-favored ways to save for retirement. With a Roth IRA, earnings grow tax free and are also tax free when you make qualified withdrawals. With a traditional IRA, your earnings grow tax deferred, so you won?t owe income taxes until you make withdrawals. And if you?re eligible, your contributions are tax deductible.
How do you decide which type of IRA is right for you? It depends on what type of contribution you?re eligible for and your specific financial situation. Our IRA Calculators will help you determine which IRA you?re eligible for and then help you evaluate which type is best for you. And our articles in our Retirement Central will teach you what you need to know about IRA tax advantages, contribution limits, and withdrawal rules.
To access our IRA brochures, please visit the IRA Brochures page. Here you will be able to access all of the IRA brochures and view them online, print or download to your computer.
Share certificates pay one of the higher rates of all deposit accounts. Members can select terms from 6 months, 1, 2, 2 1/2, 3, or 5 years. There is a $1,000 minimum deposit required to open your share certificate.
Money Management Share Account (MMSA)
This is a special share account that allows you to write a limited number of checks each month. It pays dividends from the day of deposit to the day of withdrawal on the balance you keep. There is a $1,000 minimum deposit required to open the account.
A special program for children and teens between the ages of 5 and 17. Encourages them to save, and rewards them with gifts when they achieve specified savings goals. Regular accounts are also available for children under age 5.
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Members 55 and older can enjoy many financial services free of service charge or at money saving discounts.
