Savings Accounts

Mayo Employees and their families turn to us for a savings account that is both uncomplicated and beneficial. A $5 minimum balance grants you a MEFCU membership and all of the benefits that come with. All of our accounts offer deposit insurance up to $500,000.

Our savings accounts have no monthly fee and are dividend bearing, compounded, and paid quarterly. Also, if you're saving with a specific goal in mind, we can open a sub-savings account to enable you to easily monitor your progress. 

WINcentive® Savings

WINcentive® Savings is an option approved by the Minnesota and Wisconsin State Legislatures for their residents. This is a savings account that offers you the chance to win cash prizes. Anytime you increase your savings balance by $25, you are entered to win (up to 4 entries a month). Drawings occur monthly, quarterly, and annually with two grand prizes of $5,000 each.

The money deposited into the account is yours to keep, and you are able to close the account at any time. However, closure will forfeit your contest entries. Visit Minnesota Credit Union Network's page for more information anfrequently asked questions.

  • 2019 Prize Drawing Schedule

    Table data for 2019 Minnesota Statewide Prize Drawing Schedule
     
    Prize Drawings Number of Winners* Prize Amounts** Drawing Dates Alert Me
    Monthly 50 $100 10th of each month
    Quarterly 5 $1,000 10th of April, July, October, and January
    Special Holiday 2 $1,000 10th of December
    Annual 2 $5,000 10th of January 2020
    *Winning one prize category (monthly, quarterly, or annual) does not disqualify a participant from winning a different prize category within the same year.
    **Prize amounts are estimates and subject to change.
    Table data for 2019 MEFCU Prize Drawing Schedule
     
    Prize Drawings Number of Winners* Prize Amounts** Drawing Dates Alert Me
    Statewide Quarterly 1 $100 10th of April, July, October, and January
    MEFCU Quarterly 5 $50 10th of April, July, October and January
    Annual 2 $250 10th of January 2020
    Total in 2019 26 $1,900
    *Winning one prize category (monthly, quarterly, or annual) does not disqualify a participant from winning a different prize category within the same year.
    **Prize amounts are estimates and subject to change.

 

Health Savings Accounts

For members enrolled in a high-deductible health care plan, we offer HSA accounts which help save funds for qualified medical expenses using pre-tax dollars. Consult your tax advisor to see if this account is right for you.

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.