Personal Banking

Banking made easy!

Motor City Community Credit Union offers you, our members, a full range of flexible & affordable banking options.

With friendly and knowledgeable staff, plus a variety of products & services to suit your needs, we've got you covered!

Motor City Community Credit Union also offers full service Commercial Lending ranging from Business Accounts, Commercial Lending, Merchant & Credit Products. Contact our Commercial Lending Centre for more details.

Accounts

Chequing Expand/Collapse

Chequing accounts are usually the hub of our financial transactions.  Keeping this fact in mind, Motor City Community Credit Union delivers practical chequing options to our Members.
Please take a closer look at our chequing accounts and related packages and let us know which best suits your banking style:

Personal 1

Our Personal 1 account can be either a savings or chequing account for you.  You are the one who decides how you would like to use it!

Features and Benefits:

  • Monthly fee of $5.00.
  • Interest is calculated daily and compounded monthly.
  • Monthly consolidated statements.
  • 24 hour access via Memberline and online banking.
  • Access to your funds by ATM withdrawals throughout Canada at participating ATMs displaying the ACCULINK® or Interac symbols.
  • Personal line of credit available.

CUB Package

A premium package chequing account. The CUB (Credit Union Benefit) Package is added to the Personal 1 account and allows members a 24 hour access to their funds and significant savings on additional banking services.

Features and Benefits:

  • All-inclusive monthly fee of $14.95.
  • Monthly consolidated statements.
  • Unlimited in-branch transactions.
  • Unlimited cheque withdrawals.
  • Unlimited pre-authorized payments and direct payment withdrawals.
  • Unlimited ATM and Interac withdrawals.
  • No-charge bill payments.
  • No-charge Travellers Cheques.
  • No-charge Certified Cheques.
  • No-charge Stop Payment requests.
  • No-charge personal cheques (duplicate cheque order).
  • 24 hour access via Memberline and online banking.
  • No-charge ATM withdrawals throughout Canada at participating ATMs displaying the ACCULINK® or Interac symbols.

Net 1 - Free Chequing Account

We understand that your time is valuable and that is why this account allows you to do your banking online, via telephone and using ATMs.

Features and Benefits:

  • No monthly account fee.
  • Unlimited ATM usage.
  • No monthly minimum account balance required.
  • Free Online Banking including bill payments and online statements.
  • Unlimited pre-authorized payments.

Net 90

The Net 90 account has been designed for Members who choose to deposit at least 90% their pay to Motor City Community Credit Union through EFT or a payroll deduction.
Features and Benefits:

Low monthly fee of $8.00.

  • Monthly consolidated statements.
  • Unlimited in-branch transactions.
  • Unlimited cheque withdrawals.
  • Unlimited pre-authorized payments and direct payment withdrawals.
  • Unlimited ATM and Interac withdrawals.
  • No-charge bill payments.
  • 24 hour access via Memberline and online banking.
  • No-charge ATM withdrawals throughout Canada at participating ATMs displaying the Acculink or Interac symbols.
  • Personal line of credit available.

 

Savings Expand/Collapse

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:

Plan 24

There must be a reason why our Plan 24 is our most popular account. It is a regular savings account which calculates interest on the daily minimum balance and compounds it monthly.

Special 'T'

The Special 'T' account is a tiered rate daily interest savings account for balances over $5,000.00. Members who hold a higher monthly balance in their accounts will benefit from the increased interest rates offered in this account.

High Interest Savings Account (HISA)

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

Features and Benefits:

  • Ability to access funds at any time through:
  • Online banking
  • Telephone banking
  • In branch
  • ATM and other
  • Interest paid monthly
  • Interest calculated on lowest monthly balance, if $5,000 balance maintained.

Service charges:

  • No charge for online and telephone banking (transfers).
  • In branch charge of $2.50 per transaction for transfers and withdrawals (no free transactions in branch).
  • First ATM withdrawal (MCCCU or Exchange Network) each month free, subsequent charge of $2.50 per withdrawal.
  • ATM transfers free.
  • Deposits (any method) free.

Please click here for the high interest rate.

Tax Free Savings Account (TFSA)

The purpose of a TFSA is to provide a savings vehicle for individuals to earn tax-free investment income. Effective for January 1, 2016 and subsequent years, the maximum TFSA contribution limit for 2016 has been decreased from $10,000 to $5,500. Members are eligible to contribute to their tax-free savings account up to the new contribution limit of $5,500 for 2016.

The Tax-Free Savings Account (TFSA) is a registered savings account that allows taxpayers to earn interest income tax-free inside the account.

Contributions to the account are not deductible for tax purposes, and withdrawals of contributions and earnings from the account are not taxable. The Tax-Free Savings Account is available for Canadians aged 18 and each year you are allowed to contribute the maximum limit as announced by CRA.

TFSA Eligibility

The individual owning the TFSA is the 'Holder'.  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

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 2016.
  • Contributions are not tax deductible.

Click here to view our TFSA brochure.

 

Youth Expand/Collapse

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.

FAT CAT®

This account is a daily interest savings account designed for persons under the age of 13.  This account receives an interest rate 1% above the current Plan 24 rate.
If you are a parent or grandparent wishing to begin a savings account this would be an excellent option for you.  You can make deposits for the child’s special events and thus contribute to their savings plans.

Features and Benefits:

  • FREE In-branch transactions.
  • FREE passbook or monthly statement.
  • FREE Debit Card (consent required by  parents or guardian).
  • FREE ATM transactions  throughout Canada at participating ATMs displaying the Acculink or Interac symbol.
  • FREE Interac Direct Payment.
  • FREE online banking.

HEADSTART®

This account is a daily interest savings account designed for persons between the ages of 13 and 18 years of age. This account receives an interest rate 1% above the current Plan 24 rate.

Features and Benefits:

  • FREE In-branch transactions.
  • FREE passbook or monthly statement.
  • FREE Debit Card (consent required by  parents or guardian).
  • FREE ATM transactions  throughout Canada at participating ATMs displaying the Acculink or Interac symbol.
  • FREE Interac Direct Payment.
  • FREE online banking.

Youth Programs

At MCCCU, we're just about being us: your credit union that helps people just like you meet your financial needs.
Here, we're all about treating you with respect - no matter what your age. And, we're all about helping you learn what you need to know to reach your financial goals. Goals like saving for a new bike, an electric guitar, a used car or an education, and because we see lots of students & kids at our branches, we know that you're very busy - sports, music, friends, a job and school, etc.

So, we've tried to make your accounts simple. We offer youth products that are easy and grow with you!

And yes, we do have internet banking, debit cards, ATM's & telephone banking. All the things that make it easy for you to handle your money at home, school or while you travel.

nCharge - Teens Financial Network

Today's Youth and Credit Unions - YouTube Video

®FAT CAT is a registered trade-mark owned by Canadian Credit Union Association, used under license.

Students Expand/Collapse

Heading to college or university is a big step in life, and your aim is to graduate with the least amount of debt as possible.  If you are planning to undertake post secondary education (or if you are already there) and need some financial assistance, visit, call or e-mail your local MCCCU branch.

Regardless of your age or plan, we will treat you with respect and honesty.

Scholar Power

This chequing account is designed for the post secondary student with no fees and easily accessible cash through many channels.

Features and Benefits:

  • No monthly account fee.
  • No monthly minimum account balance required.
  • Free in branch transactions.
  • Free Online Banking including bill payments and online statements.
  • Unlimited pre-authorized payments.
  • Fund transfers.
  • Unlimited use of your MEMBER CARD® debit card for direct debit payments at any Canadian merchant
  • 24 hour access via Memberline and online banking
  • Unlimited ATM withdrawals throughout Canada at participating ATMs displaying the Acculink or Interac symbols.
  • Scholar Power Line of Credit or EducationaLine available.

Scholar Power Line of Credit

The Scholar Power Line of Credit for the purpose of financing post secondary education.  The funds advanced for this line of credit can be utilized for tuition, books and living expenses.  MCCCU offers this line of credit at a much lower interest rate in comparison to traditional lines of credit.

  • Available to members under the age of 25 years enrolled full-time in an approved college or university program.
  • Students can be eligible to borrow $10,000 per school year with a lifetime maximum of $50,000 Interest rate applied is Prime + 1%.
  • Line of credit is convertible to a personal loan 1 year after student completes or stops post-secondary education.  Loan is repayable at same low interest rate for a period of 6 years.
  • Line of credit must have a guarantor.*

EducationaLine

A pre-approved line-of-credit to finance continuing education or post secondary education expenses which are not covered by our Scholar Power - Student Line of Credit. The account is allowed a negative balance ("authorized overdraft") within a pre-arranged limit. The funds advanced for this line of credit can be utilized for tuition, books and living expenses.

  • Available to students of all ages enrolled in part-time or full-time studies in an institution, college or university program of their choice.
  • Students can be eligible to borrow $10,000 per school year with a lifetime maximum of $50,000.
  • Interest rate applied is Prime + 1.50%.
  • In some cases a guarantor might be required.*

*Please contact your local branch for additional details.

Seniors Plan Account Expand/Collapse

If you're 65 years of age or retired start taking advantage of our Seniors Plan Account and enjoy unlimited, no monthly fee banking.

This chequing/savings account offers the following features and benefits:

  • No monthly fee.
  • Unlimited transactions.
  • Personalized standard cheques free.
  • No charge travellers cheques.
  • No charge bill payments.
  • Service charges apply to Interac fees and Non Exchange ATM transactions.
  • Cheques not returned with statements.
  • Optional overdraft protection.
  • Statement only account; choice of paper or electronic statement.

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 daily interest savings account. A $0.80 charge will be applied for each debit transaction.

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

Strictly Community Expand/Collapse

Motor City Community Credit Union has always offered an account for non-profit groups. Our goal is to make it easier for organizations and groups who work hard to support the Windsor and Essex County. Whether your organization is a school group, sports club or a charitable foundation, our Strictly Community Account will certainly benefit you!
Strictly Community is a chequing account with interest calculated daily and compounded monthly.

The personal attention to your organization's needs will be complimented by many free services.

Features and Benefits:
  • No monthly service fee.
  • Free debits.
  • No charge for cheque return service.
  • No charge on coin deposits.
  • Night Deposit boxes available.
  • Convenient branch and ATM locations
 

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