IH Mississippi Valley CU Debuts Mega Money Market Account

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Availability: Residents of 18 northwest Illinois counties and ten southeast Iowa counties.

IH Mississippi Valley Credit Union (IHMVCU) began the month by introducing its tiered-rate Mega Money Market account. The minimum opening deposit is $10k and the rate tiers are as follows:

  • 0.75% APY - $10k+ minimum
  • 0.90% APY - $50k+ minimum
  • 1.06% APY - $100k+ minimum
  • 1.26% APY - $250k+ minimum
APYMINMAXINSTITUTIONPRODUCTDETAILS
1.26*%$250k-IH Mississippi Valley Credit UnionMega Money Market
Accounts mentioned in this post. Rates as of September 25, 2016.

Availability

Headquartered in Moline, Illinois, IH Mississippi Valley Credit Union offers membership to U.S. citizens and resident aliens who live and work in the following 18 northwest Illinois counties and ten southeast Iowa counties.

Illinois: Bureau, Carroll, Fulton, Hancock, Henderson, Henry, Knox, Lee, Marshall, McDonough, Mercer, Ogle, Putnam, Rock Island, Schuyler, Stark, Warren or Whiteside County.

Iowa: Cedar, Clinton, Des Moines, Henry, Johnson, Jones, Lee, Louisa, Muscatine or Scott County.

While joining IHMVCU can be done online, opening a Mega Money Market account currently requires an in-person visit to any of six Iowa branches located in Bettendorf, Davenport (3), DeWitt, and West Burlington, or eleven Illinois branches located in East Moline, Galesburg (2), Kewanee, Milan, Moline (2), Monmouth, Prophetstown, Rock Island, and Silvis.

Credit Union Overview

IH Mississippi Valley Credit Union (NCUA Charter # 60337) has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.05% (excellent) based on March 31, 2016 data. In the past year, IHMVCU has increased its total deposits by $95.7 million, an excellent annual growth rate of 11.89%. Please refer to our financial overview of IH Mississippi Valley Credit Union for more details.

IH Mississippi Valley Credit Union was established in 1934 by employees of International Harvester, and is currently the 6th largest credit union in Illinois, with over 110,000 members and assets in excess of $1 billion. In the past year, IHMVCU received $1 million, as part of a $10 million pledge from Bank of America to the National Federation of Community Development Credit Unions. According to a September 2015 CreditUnionTimes article,

the money will go toward the launch of a new secondary capital loan
product and funding investments for high performing credit unions.

How the Mega Money Market Compares

When compared to the 183 Money Market Accounts tracked by DepositAccounts.com, that are available to the Quad Cities area residents, IH Mississippi Valley Credit Union's Mega Money Market top-tier APY ranks first, regardless of minimum or maximum deposit levels.

Interest RateAccount NameCredit Union/Bank
1.26% APYMega Money Market ($250k min)IH Mississippi Valley Credit Union
1.25% APYMega Money Market ($35k max)All America Bank
1.11% APYYield Pledge Money Market (1st Yr - $150k max)EverBank

The above rates are accurate as of 9/7/2016.

To look for the best Money Market rates, both nationwide and state specific, please refer to our Money Market rates table or our Rates Map page.

Comments
IH Mississippi Valley CU Raises Rates on 39- and 60-month CDs

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Residents of Quad Cities area (Iowa and Illinois).

IH Mississippi Valley Credit Union (IHMVCU) recently raised the rates on many of its CDs, with the 39-month CD (1.81% APY) and the 60-month CD (2.27% APY) being the most competitive. The minimum opening deposit for all of IHMVCU’s CDs is $500, with no maximum balance cap. Both CDs are available as IRAs (Traditional, Roth, CESA) at the same rates, with the same funding requirements.

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The credit union also offers a reward...

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4.07% 60-Month CD at IH Mississippi Valley Credit Union in IL & IA - Local Only
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IH Mississippi Valley Credit Union is offering some competitive certificate rates. The most competitive is the 60-month term which has a 4.07% APY. Other notable rates include the 2.02% APY 12-month CD, the 2.48% APY 24-month CD and the 3.04% APY 36-month CD. Minimum deposit is $500. An extra 0.25% is added for Jumbo CDs with a $100,000 minimum deposit. Also, an extra 0.10% is added when you have a checking product. Certificates are...

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High-Yield Reward Checking Account at IH Mississippi Valley Credit Union in IL & IA

Update 10/03/10: The top rate has fallen to 3.01% APY.

IH Mississippi Valley CU has a reward checking account called Checking Plus that pays 3.01% APY on balances up to $25,000 (0.25% for above) and refunds ATM fees (up to $25 per month) if the following monthly requirements are met:

  • 12 Visa debit card purchases
  • one incoming ACH or direct deposit
  • receive E-statements

If these are not met, the rate falls to 0.25%. There is no minimum opening deposit, minimum monthly balance or monthly fee.

Membership is open to the Quad City and surrounding area residents....



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