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Savings

Accounts to Help You Reach Your Goals

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Savings

Free Savings Accounts

Start saving for your future today with a Mission Fed Savings account. Whether you’re looking to establish a safety net, save for your dream car, or plan for college or retirement, Mission Fed can help you achieve your financial milestones. Explore our savings options and find the perfect fit for your needs. Plus, rest easy knowing your money is federally insured by NCUA.

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Standard

  • Best for standard savings
  • Save any amount and get a competitive rate
  • $1 minimum initial deposit
  • Checking or spending overdraft protection
Learn More
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Special Rate Savings

  • Best for maximizing savings while keeping funds liquid
  • High, variable dividend rate
  • $1 minimum initial deposit
Learn More

Certificates

  • Best for maximizing savings that you don’t need quick access to
  • Competitive rates and fixed returns
  • Stable and secure, free from market volatility
  • $2,000 minimum deposit
Learn More

Money Market

  • Best for maximizing savings while keeping funds liquid
  • Competitive dividends based on balance tiers
  • Minimum opening deposit of $2,500 for Money Market and $25,000 for Ultra Money Market
Learn More
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Summer or Holiday Saver

  • Best for saving for an event
  • Higher dividend rates
  • $20 minimum initial deposit
  • $20 – $500 monthly transfer balance requirement1
Learn More
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Youth Savings

  • Best for saving for the future
  • For children 0 – 17 years-old2
  • Special Mission 2 $AVE rates for ages 1-123
  • $1 minimum initial deposit
Learn More

Mission Fed has the savings account that’s right for you, whether you’re saving for a trip, special occasion, college or are working toward your home in San Diego. Earn more on the money you save with our savings accounts. All of our savings accounts feature:

  • Competitive rates
  • 24/7 access via mobile or online banking
  • Helpful customer service via phone, email or secure web chat

Savings Rates

Open a Savings or Money Market Account Today

Open an Account
Minimum Balance Dividend Rate APY
Standard Savings Account (Any Balance) 0.03% 0.03%
Special Rate Savings (Any Balance) 2.23% 2.25%
Money Market ($2,500 - $49,999) 0.03% 0.03%
Money Market ($50,000+) 0.05% 0.05%
Ultra Money Market ($25,000 - $99,999) 1.00% 1.00%
Ultra Money Market ($100,000 - $249,999) 1.00% 1.00%
Ultra Money Market ($250,000+) 1.00% 1.00%

Must meet membership and account criteria. Rate terms and conditions subject to change Programs, rate, terms and conditions subject to change without notice. APY = Annual Percentage Yield. APYs assume dividends will remain in the account. Withdrawals and fees may reduce earnings. Restrictions apply. 

Standard savings: No monthly fee or minimum balance requirements, other fees may apply. $1.00 or more initial opening deposit required. Limit 7 Standard Savings per member. 

Special Rate Savings: Minimum opening deposit of $1.00 or more required. Special Rate Savings account is available to qualified members only. Once the account is opened the APY is anticipated to remain in effect until 06/30/2024; however, program, rates, terms, and conditions are subject to change at any time without prior notice before or after account opening at our discretion. After 6/30/2024, the dividend rate and APY will revert to the standard savings account rate in effect at that time. Withdrawals and fees could reduce earnings. No minimum daily balance requirement or maximum balance cap. Special Rate Savings is not available for IRA accounts. If a Special Rate Savings is funded by ACH, the funds are not available for immediate withdrawal within 60 days from the opening date. If you choose to withdraw from the account, the funds will be returned to the account that originated the ACH deposit (processing delays may apply). Additional non-ACH contributions may be made to the account with in the first 60 days and are subject to standard availability. We reserve the right to limit the number of Special Rate Savings accounts that you may open at our discretion and without prior notice. Applicable fees may be found in our Consumer Fee Schedule. 

Special Rate Savings Additional Business Account Terms: Must meet membership and business account criteria. Special Rate Savings account cannot be opened via mobile or online banking. Applicable fees may be found in our Business Fee Schedule. 

Summer or Holiday Saver account: Summer Saver accounts mature on July 10th and Holiday Saver accounts mature on November 10th of each year. Monthly transfer from $20 – $500 per month set up at account opening are the only deposits allowed. Dividend penalties apply to early withdrawals. 

Youth savings requires: Accounts for minors under the age of 16 require a person of majority age (18 and older) to be joint on the account. Ages 16 & 17 with a valid government-issued ID do not require a parent / legal guardian joint signer. $1.00 or more initial opening deposit required. Minors aged 0-12 are eligible for the Mission 2 $ave program which earns 5% APY on the first $500 on deposit.

Money Market account: Average daily balance requirement of $2,500; no dividends are earned on balances less than $2,500.

Ultra Money Market: Minimum opening balance of $25,000. Account free with an average daily balance of $25,000 or more each month: otherwise, a $15 monthly fee applies. 

Dividend Rates & Disclosures

Promo Certificates

Looking for a competitive rate? Check out our Promotional Certificates.
See All Rates

Open Account
Term $2K Minimum APY $10K Minimum APY $100K Minimum APY
8 months
(existing money)		 4.25% 4.25% 4.25%
8 months
(new money)		 4.50% 4.50% 4.50%
11 months
(existing money)		 5.00% 5.00% 5.00%
11 months
(new money)		 5.25% 5.25% 5.25%
25 months
1x rate bump		 3.75% 3.75% 3.75%

APY=Annual Percentage Yield. All rates and yields are anticipated and variable, unless otherwise stated, and may be adjusted without prior notice.

Certificate accounts with a specific term earn the opening APY until the end of the term, unless otherwise specified. Maximum combined Promo Certificate deposits of $1,000,000 per household. All certificate APYs assume dividends remain on deposit until maturity. If the dividends are withdrawn prior to maturity, the APY will be lower. Withdrawals, penalties and fees may reduce principal and earnings. Penalties will apply for early withdrawals. Additional penalties may be imposed by the IRS on IRA Certificates. All rates, terms, services and conditions are subject to change without notice. Certificate will automatically renew into like term at the prevailing dividend rate unless you tell us otherwise. New money is money that is not currently on deposit at Mission Fed; funds transferred from an existing Mission Fed account do not qualify as new money. Existing money are funds currently on deposit at Mission Fed.

Bump Rate Certificate – You may make a one-time request to adjust your dividend rate to the rate currently offered for our standard certificate of the same term; promotional rates are excluded from the bump rate option. The new rate will be effective the day the rate bump is requested through the maturity date listed on your certificate disclosure; requests must be made by calling or visiting a Mission Fed branch. The Bump Rate Certificate will automatically renew into a regular Certificate for the same term at the rate in effect at the time of renewal unless you tell us otherwise. All Annual Percentage Yields assume that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

Federally Insured by NCUA

Dividend Rates & Disclosures

How to Open A Savings Account

  1. When you’re ready to open an account, you’ll need

    – Proof that you live, work, worship or go to school in San Diego County (see full eligibility on our Membership page)
    – Your Social Security number
    – Two forms of ID, including at least one valid government-issued ID
    – Youth accounts only require one form of ID
    – A small minimum opening deposit – just $1 for standard or youth accounts or as little as $20 for Summer or Holiday accounts

  2. Choose how you'd like to open an account: 

    – Online (for Standard Savings or Money Market accounts only)
    – Over the phone
    – Your local branch

  3. Once you are approved, you can begin saving for your future!

Savings Account FAQs

Both accounts are important for managing your personal finances. But they each have different purposes.

  • Spending/checking accounts are great for everyday expenses. You can use a debit card with your account for daily transactions like grocery shopping. However, they traditionally offer lower dividend rates.
  • A savings account helps you keep your savings separate from money you intend to spend on daily expenses and bills. This helps prevent you from accidentally dipping into money you meant to save, as well as allowing you to earn more interest on the growing balance in your account.

Learn more about our spending and checking accounts.

Depositing or transferring money into a savings account helps you earmark money for special occasions or goals. Because you won’t be withdrawing money from your savings daily like you would a checking account.

A savings account allows you to earn more interest on the growing balance in your account, making it easier to reach your financial goals. Mission Fed savings accounts have great features that help you save, including the ability to categorize your savings and add savings goals.

We also offer EasySave4, which rounds your non-ATM, debit card transactions up to the nearest dollar and transfers the difference to your savings account. Learn more about EasySave.

A savings account is designed to hold the money you don’t intend to spend right away. You can earn interest on savings and enjoy additional benefits depending on the kind of savings account you choose and the amount you’re able to save.

Yes!  At Mission Fed, all of our savings accounts earn interest. Please see our rates page for current interest rates.

At Mission Fed, we offer a variety of savings accounts so you can choose what’s best for your lifestyle. We offer the option of opening up to seven standard savings accounts, so you can have multiple accounts with unique names and savings goals.

Experts recommend saving between 10 and 30% of your income each month. Use your savings account to build up an emergency fund and save for retirement and other long-term savings goals. This can help you with unexpected expenses and set you up for a comfortable future.

Use mobile or online banking to easily transfer funds into your savings account, or set up a direct deposit right from your paycheck so you don’t even have to think about it.

Wondering how to save money for a house or a new vehicle? Make sure you plan ahead and budget for big expenses. Whether you need to save money for a car, a new home or a big trip, planning ahead is key so you can save over time without going into debt. Set up unique savings accounts for big expenses so you won’t spend the money on other things. Finally, take advantage of cash gifts, bonuses or other situations in which you get the money you hadn’t counted on and put that money directly into your savings account to build your balance quickly. If you find yourself surprised by a sudden expense, these are the situations in which you’ll be happy you built up an emergency fund.

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Ready to Open Your Account?

We’re here to help you achieve your financial milestones and long-term goals.  Let’s get there together.

Apply Online

Disclosures

Must meet membership and account criteria. APY=Annual Percentage Yield. All rates and yields are anticipated and variable, unless otherwise stated, and may be adjusted without prior notice. All rates, terms, services and conditions are subject to change without notice. Restrictions apply.

Certificates: Certificate accounts with a specific term earn the opening APY until the end of the term, unless otherwise specified. All certificate APYs assume dividends remain on deposit until maturity. If the dividends are withdrawn prior to maturity, the APY will be lower. Withdrawals, penalties and fees may reduce principal and earnings. Penalties will apply for early withdrawals. Certificate will automatically renew into like term at the prevailing dividend rate unless you tell us otherwise.

Money Markets: APYs assume dividends will remain in the account. Withdrawals and fees may reduce earnings.

Money Market: Average daily balance requirement of $2,500; no dividends are earned on balances less than $2,500

Ultra Money Market: is a tiered account earning different APYs, depending on the amount of the funds on deposit. Minimum average daily balance requirement of $25,000 or a monthly fee applies. Ultra Money Market is not available for IRA accounts or Business accounts. If an Ultra Money Market account is funded by ACH, the funds are not available for immediate withdrawal within 60 days from the opening date. If you choose to withdraw from the account, the funds will be returned to the account that originated the ACH deposit (processing delays may apply). Additional non-ACH contributions may be made to the account within the first 60 days and are subject to standard availability. Limit one Ultra Money Market share per member account. We reserve the right to limit the number of Ultra Money Market accounts that you may open at our discretion and without prior notice. Applicable fees may be found in our Consumer Fee Schedule.

1A monthly transfer of $20 – $500 is required or fees may apply.

2 Accounts for minors under the age of 16 require a person of majority age (18 and older) to be joint on the account. Ages 16 & 17 with a valid government-issued ID do not require a parent / legal guardian joint signer.

3 Minors aged 0-12 are eligible for the Mission 2 $ave program which earns 5% APY on the first $500 on deposit.

4 ATM withdrawals are excluded from the EasySave program, and the daily EasySave transfer will not occur if there are insufficient funds to cover the full amount. Returned purchases will not affect the EasySave transfer amount. Business accounts are not eligible for the EasySave Program. Mission Fed reserves the right to change, modify or cancel this program at any time without prior notice.