Maine Savings Fed Credit Union Offers Rate-Leading 50-Month CD Statewide


Update 1/19/23: The 50-month CD Special has ended.

Deal Summary: 50-month Certificate Special, 5.12% APY, $500 minimum deposit, new money.

Availability: Easy membership for all Maine residents through the American Consumer Council.

Maine Savings Federal Credit Union (Maine Savings) is currently offering three Certificate Specials, with the 50-month having the most competitive rate. Earning 5.12% APY, the 50-month Certificate Special can be opened with a minimum $500 deposit of new money, with no stated balance cap. “New money” is defined simply as funds coming from another financial institution.

As stated on the Savings Rates page, the Early Withdrawal Penalty reads as follows:

For Share Certificate and IRA Certificate accounts (SC), the amount of the early withdrawal penalty will be as follows on the amount withdrawn (whether earned or not):

    Less than 6-month SC will result in a 3-month early withdrawal penalty (90 days);

    6–18 month SC will result in a 6-month early withdrawal penalty (180 days);

    Any SC greater than 18 months–66 months will result in a 12-month early withdrawal penalty (365 days).

Funding and Other Particulars

  • Funding – ACH or Shared Branch transfer (more details in the Availability section).
  • CO-OP Shared Branch Network – Yes.
  • Dividends – compounded/credited monthly and can be withdrawn without penalty at any time.
  • Maturing Funds – Cashier’s check or internal transfer to Share Savings account.
  • Grace Period – none; notice sent 30-45 days prior to maturity requesting instruction for maturing funds; if no instructions are received, the 50-month Certificate Special will renew as a 48-month Certificate on the maturity date.
  • Beneficiaries – Unlimited, equal shares, Social Security numbers preferred but not required.
  • Credit Check – none.


Headquartered in Hampden, Maine, Maine Savings Federal Credit Union’s field of membership (FOM) has an "easy membership requirement," allowing all Maine residents to join through membership in the American Consumer Council (ACC).

Residency: Individuals who live, work, or worship in the Maine towns of Albion, China, Hampden, Vassalboro, or Woodland, or most of Washington County are eligible to join.

Employment/Association: Employees/retirees of more than 450 companies also qualify for membership, as do members/students of more than 60 organizations, churches, and schools.

Family Relationship: Individuals who are related (“by blood, marriage, or adoption”) to anyone who is membership-eligible also qualifies for membership.

Details about membership eligibility are only listed on Maine Savings’ online application.

Joining Maine Savings can be done online or at any of the eleven Maine branches, located in Bangor (2), Bar Harbor, Brewer, Corinth, Ellsworth, Hampden, Milo, Old Town, Portland, and Vassalboro.

This isn't the type of membership where you are responsible for a routine fee. Instead, you'll just need to buy a $5 "share" of Maine Savings by depositing $5 into a share account.

According to CSR, opening a Certificate Special is actually a two-step process for those joining Maine Savings. The first step is to fund a Savings Share, which is limited to a maximum $750 if funding online. After the membership application has been approved, you can deposit the funds for the Certificate Special into the Savings Share account (via ACH, Shared Branch transfer, or check) and then call Maine Savings to open the Certificate Special. Existing members can fund a Certificate Special by depositing new money into a Savings Share account and then contacting Maine Savings to open the Certificate Special.

Maine Savings members have access to more than 3,500 CO-OP Shared Branches and over 260 surcharge-free SURF ATMs throughout Maine.

Credit Union Overview

Maine Savings Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.74% (excellent) based on June 30, 2022 data. In the past year, Maine Savings increased its total non-brokered deposits by $51.46 million, an excellent annual growth rate of 11.42%. Please refer to our financial overview of Maine Savings Federal Credit Union (NCUA Charter # 14565) for more details.

Founded in 1961 as the BARCO Federal Credit Union, the original FOM was exclusive to the employees of the Bangor & Aroostock Railway Company. The Maine Savings rebrand occurred in 2001, prompted by the Credit Union’s “evolution and growth.”

In 1993, Maine Savings, along with six other Maine-based credit unions and the Maine Credit Union League, was one of the founders of CUSO Mortgage Corporation. CUSO is now the largest credit union mortgage lender in Maine and is one of the top 5 largest multi-owned Credit Union Service Organizations in the country.

Maine Savings is currently the third largest credit union in Maine, with nearly 34,000 members and assets in excess of $581 million.

How the 50-month Certificate Special Compares

When compared to similar length-of-term CDs tracked by that are available within the FOM and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Maine Savings Federal Credit Union 50-month Certificate Special. The following table compares the 50-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 11/18/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Portland CD rates, Bangor CD rates, 5-year CD rates

  |     |   Comment #1
Thanks for posting this offer. I drove right by yesterday and never noticed the special 50 month 5.12% on their lighted sign which started earlier this week, Wednesday. Today it took all of 45 minutes from the time I walked thru the door to open joint membership and 2 certificates, add multi beneficiaries, fund with personal check, and that was with their system acting slower than usual I was told. It was actually delightful to have a brick-and-mortar experience again with all associates very friendly and helpful. I can also confirm no credit check for opening accounts.
  |     |   Comment #4
Spoke with CSR "Ryan" over the phone because I have an American Consumer Council certificate but am NOT a Maine resident. I called and schmoozed a bit because I've joined several other credit unions by "helping you find a workaround for me." No go here. "Our State charter is strictly enforced."
Maine Savings Federal Credit Union 66-Month CD Earns 3.14% APY
Deal Summary: 66-month CD, 3.14% APY, $500 minimum deposit.

Availability: Easy membership for all Maine residents through the American Consumer Council.

If you want the security of a long-term certificate with a competitive rate, Maine Savings Federal Credit Union’s (Maine Savings) 66-month CD (3.14% APY) might be just the product you’re looking for. The minimum opening deposit is only $500, with no stated balance cap.

As stated on the Savings Rates page, the Early Withdrawal Penalty reads as follows:

When I asked about a grace period, CSR told me...

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