Checking Rates

0.05% APY*
Checking

*Annual Percentage Yield
Rates effective as of 03-21-2023
All Deposit Rates
Reorder Checks
Visa Debit Cards
Digital Banking

Checking Accounts

We can offer a truly free checking account; free from monthly fees and required minimum balances, all while earning interest each month. When compared to our competition, it only makes sense to stop paying to access your own money. 

Are you ready to make the switch?

Open a new Personal Checking Account with us and you could win a Nintendo Switch! Be entered to win when you open a new checking account between 2/13/23 and 4/30/23.

Our checking accounts are free from minimum balance requirements and monthly fees, and make managing your finances convenient with access to online and mobile banking.

  • Official Rules

    NO PURCHASE IS NECESSARY IN ORDER TO ENTER THE NINTENDO SWITCH DRAWING. EACH ENTRY WILL HAVE AN EQUAL CHANCE OF WINNING. Mayo Employees Federal Credit Union is the sponsor of the Drawing. Mayo Employees Federal Credit Union’s address is 130 23rd Avenue SW, Rochester, MN 55902.

    Drawing Period:  February 13, 2023 to April 30, 2023.

    Eligibility: To qualify for the Nintendo Switch Drawing all entrants must be at least 18 years of age, a resident of the United States of America, and open a new checking account at Mayo Employees Federal Credit Union during the drawing period. Prize winners will be subject to a tax Form 1099. Mayo Employees Federal Credit Union employees, officials, and members of their immediate families are not eligible to participate in the Nintendo Switch Drawing. By entering this Nintendo Switch Drawing, entrants accept and agree to be bound by these Official Rules and the decisions of Mayo Employees Federal Credit Union. Drawing void where prohibited by law.

    Drawing Entries: Individuals may also enter the Drawing by legibly hand-printing their name, street address (including City, State, and ZIP code), phone number, and the words “Mayo Employees Federal Credit Union Nintendo Switch Drawing Entry,” on a 3” x 5” card and mailing it by US Mail to Mayo Employees Federal Credit Union, Attention: Nintendo Switch Drawing, 130 23rd Avenue SW, Rochester, MN 55902 (one entry per exterior envelope). Mayo Employees Federal Credit Union is not responsible for lost, late, incomplete, misdirected, damaged, postage-due or illegible entries or mail.

    Prize Drawing: One (1) Nintendo Switch valued at $349.99. Winner/Prize recipient is solely responsible for all applicable federal, state and local taxes on the prize. Winner will be randomly selected from all eligible entries received. The odds of winning depend on the total number of eligible entries received. Winner need not be present to win and will be notified by phone, mail and/or email within seven (7) days of the Drawing.

    Publicity Authorization: Winner agrees to permit Mayo Employees Federal Credit Union to utilize his/her name and likeness in promotional and other Mayo Employees Federal Credit Union materials, without additional compensation or permission, except where prohibited by law.

Features

  • No monthly fees
  • Dividend bearing
  • No minimum balance

We have several options to safeguard against the stress of a declined transaction. Our first option is Overdraft Protection, which is a personal line of credit we link to your checking account. If there are not enough funds in your account it will automatically transfer to cover your transaction.

If you are not interested in a line of credit, we can set up your savings account to automatically transfer funds to your checking account when needed.

Digital Payments

We offer a wide range of digital options to help do your banking and monitor your account when it's convenient for you.

  • Easily transfer money between your accounts at any time, using a computer or mobile device.
  • Use our online bill pay service to pay your monthly expenses, including loans and utilities.
  • Link your Visa debit or credit card to your mobile device to pay instantly at checkout. 

 

Mobile Deposit

Mobile Deposit

Deposit checks when it’s convenient for you, using our app on your mobile device. Simply sign the back of your check and use the app to upload photos. The mobile deposit will be made automatically, saving you a trip.

Switch Kit

Make the Switch

Changing financial institutions is easy with the right tools. Use our switch kit to find all of the forms you will need, and to help ensure that your bases are covered when you make the switch to a better financial future.