Personal Banking

Flex Image

Whether you are looking for an account for your day to day banking needs or to save a little money for a rainy day, Motor City has you covered with our comprehensive line of personal banking accounts. Plus, you can open some of our more popular accounts from the comfort of your own home with our online account opening.
Never have to worry about carrying a minimum balance.

Opening an account has never been easier. You can open a new FreeFlex, Flex+ or HISA account online from anywhere! You can always visit a branch for more information or to set up an appointment to open an account.

Chequing Accounts

With our Flex accounts you can bank the way you want! Bank online or in-branch for FREE with our FreeFlex account, or choose our Flex+ account to receive extra features like 5 FREE e-transfers. Plus, you never have to worry about carrying a minimum balance.

FreeFlex Expand/Collapse

FreeFlex

Our FreeFlex account is simply that, FREE and Flexible!

Bank how, when and where you want, for free! Perfect for students or anyone looking to get away from those pesky monthly bank fees. With this account, you'll save an average of $150 annually compared to what you would spend with the 'big banks' accounts.¹

Monthly Service Fee: FREE

Features:

  • Free In-Branch, Mobile and Internet Banking
  • Free Unlimited ATM Transactions at over 3,300 Exchange Network ATMs²
  • Free Bill Payments (online & in-branch)
  • Free Unlimited Debit Transactions
  • No Minimum Monthly Balance Required!

Flex+ Expand/Collapse

Flex+

Our Flex+ account is the premium account that works for you!

All the flexibility of our FreeFlex account PLUS many extra features. Perfect for those who require a little more out of their chequing account. With this account, you'll save an average of $200 annually compared to what you would spend with a premium account at the 'big banks'.¹

Monthly Service Fee: $10.00

Features:

  • Free In-Branch, Mobile and Internet Banking
  • Free Unlimited ATM Transactions at over 3,300 Exchange Network ATMs²
  • Free Bill Payments (online & in-branch)
  • Free Unlimited Debit Transactions
  • 5 Free Interac® E-Transfers per month
  • 1 Free CAD Draft per month
  • 1 Free USD Draft per month
  • 100 Free Personal Cheques per year
  • 1 Free Stop Payment Request per month
  • Free Certified Cheques
  • No Minimum Monthly Balance Required!


Flex62+ Expand/Collapse

Flex62+

Our Flex62+ account gives you everything in the Flex+ but is completely FREE!

All the the extra features of Flex+ with NO monthly service fee for members who are 62 years or older!

Perfect for those who require a little more out of their chequing account. With this account, you'll save an average of $245 annually compared to what you would spend with a premium account at the 'big banks'.¹

Monthly Service Fee: FREE

Features:

  • Free In-Branch, Mobile and Internet Banking
  • Free Unlimited ATM Transactions at over 3,300 Exchange Network ATMs²
  • Free Bill Payments (online & in-branch)
  • Free Unlimited Debit Transactions
  • 5 Free Interac® E-Transfers per month
  • 1 Free CAD Draft per month
  • 1 Free USD Draft per month
  • 100 Free Personal Cheques per year
  • 1 Free Stop Payment Request per month
  • Free Certified Cheques
  • No Minimum Monthly Balance Required!


Compare our Flex Accounts Expand/Collapse

Here is a helpful tool to help you decide which Flex account is right for you.
Comparison Chart


Youth Account

Naturally parents want the best for their children. This would include their future financial well-being and a healthy attitude towards money. Motor City Community Credit Union encourages useful banking habits starting from childhood. We reward our young members with bonus interest rates so they can grow their savings faster.

YouthSave Expand/Collapse

YouthSave Image
A premium interest rate of 2%3 combined with the flexibility of a chequing account!

A hybrid Chequing and Savings account that’s perfect for children and teens. YouthSave is available to anyone under the age of 18 and helps develop money management skills, while earning extra interest to promote saving. At every stage of life, Motor City is there, making your financial life simple and easy.

Monthly Service Fee: FREE
Interest Rate: 2% for the first $10,000. 1% for anything above $10,000³
Eligible Age: 17 years of age or younger

Features:
  • Free In-Branch, Mobile, Telephone and Internet Banking
  • Free Unlimited ATM Transactions at over 3,300 Exchange Network ATMs²
  • Free Bill Payments (online & in-branch)
  • Free Unlimited Debit Transactions
  • Available in regular and trust
  • Can be attached to a debit card (with consent of parent)
  • No Minimum Monthly Balance Required!


Saving Accounts

Are you saving for a rainy day, for a family trip or an important purchase?  We want to help you reach your savings destination by providing savings accounts that match your needs.
Saving money does not have to be a chore if you have the right account working for you:


High Interest Savings Account (HISA) Expand/Collapse

A premium interest rate combined with the flexibility of making withdrawals. This is what our High Interest Savings Account offers to members looking for a higher interest rate while still planning to utilize some of their savings.

Features and Benefits:

  • Interest paid monthly
  • Interest calculated on lowest monthly balance.

Please click here for the high interest rate.

Open an Account

Plan 24 Expand/Collapse

A regular low interest savings account that calculates interest on the daily minimum balance and compounds it monthly.

Tax Free Savings Account (TFSA) Expand/Collapse

A Tax-Free Savings Account (TFSA) is a registered savings account that you earn interest income tax-free inside the account! Let’s say you invested $1,000 in your TFSA last year and you earned $30 in interest after the year was over. You don't have to pay taxes on that $30, it's all yours!

A total of $5,5004; can be contributed each year and the current maximum amount that can be held in a TFSA account as of January 1, 2018 is $57,500.

TFSA Brochure

TFSA Eligibility

Any individual person (not trusts or corporations) who meets all the following three requirements is eligible to open a TFSA:

  • Resident in Canada, and
  • 18 years of age or older, and
  • Holds a valid Social Insurance Number (SIN).

There is no maximum age limit to open or hold a TFSA and a person may hold more than one TFSA.

TFSA Contribution Limit

The individual owning the TFSA is the 'Holder'. Contributions to a TFSA may only be made by the Holder and the amount is not tied to the income of the Holder.

  • $5,500 is the maximum TFSA contribution limit for 2018.
  • Contributions are not tax deductible.
TFSA Rates

U.S. Savings Expand/Collapse

U.S. Savings account is an excellent way to always keep funds ready for a future vacation or shopping trip. All balances and transactions are in U.S. dollars (USD) for this savings account. In-branch withdrawals are free and an $0.80 charge will be applied to all other in-branch transactions.

Would you like to know the exchange rate to buy or sell U.S. funds? Please click here for today’s rate.



Account Services and Accessing Your Funds

With any of our Motor City accounts you have many services at your disposal. Click on any of the following for more information:

1 Based on the average annual cost of an account with similar services at Canada’s big banks. Used for comparison purposes only. Based data acquired on January 26th, 2017.
2 Valid only on the Exchange Network ATMs. Find the closest Exchange Network ATM by visiting www.the-exchange.ca or by downloading the Exchange Network or Motor City app. ATMs outside the Exchange Network are subject to additional service charges.
3 Interest Rate for deposits less than $10,000=2.00% and greater than $10,000=1.00%. Rates per annum and subject to change at any time.
4 The annual contribution limit for TFSAs is set by the Government and can change every year.

 

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