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Savings Accounts

Save your money with Mass Bay Credit Union - stacks of coins on the table.
Prepare for the future today, and create a better tomorrow.

The future can be uncertain, and building up your savings now can help you and your loved ones be covered—even when life happens or unexpected expenses pop up.

We’re dedicated to helping you reach your goals, whether they are saving for a home, pursuing education or planning your next vacation.

The Perfect Place to Start

Benefits:

  • An account that helps you begin to save
  • Set up direct deposit from your paycheck
  • Check balances from online banking and mobile banking
  • Once you reach $500+ move your funds into a Certificate to      earn higher rates and save for upcoming goals

View Today's Rates

Open an account

The Next Step in Savings

Benefits:

  • Great for higher balances with intermediate-term plans
  • Tiered rates earn you more the more you save
  • Build funds for longer term savings
  • Liquid account that comes with check writing ability
  • Always safe and reliable

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Open an account

Planning For Your Future

Benefits:

  • Lock in higher rates for funds you don't need right away
  • Great for adapting to rising and falling market rates
  • Use long-term certificates to lock in higher interest rates
  • Use “laddering” to stagger your certificate maturity dates

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Open an account

For Next Year's Fun

Benefits:

  • Create savings for holiday shopping, future vacations, and other big expenses
  • Break big purchases down into small weekly contributions
  • Avoid using credit cards and paying interest
  • Save a bit each paycheck while earning interest along the way

View Today's Rates

Open an account

Planning For Retirement

Retirement, social security and pensions may not provide enough funds for most people to maintain their current non-retirement lifestyle.

It means the more you put away now, the less you’ll have to worry as you age.

Traditional IRA

Benefits:

  • Tax-deductible deposits up to federal limits
  • Tax is deferred until you retire
  • Save on taxes by withdrawing later when your income is lower
  • Easy to open and maintain

Learn more about Traditional IRA's

Roth IRA

Benefits:

  • Funds grow tax free
  • No tax on withdrawals in retirement
  • Penalty-free withdrawals for certain expenses before retirement
  • Not tax-deductable deposits

Learn more about Roth IRA's

The difference between Roth IRA and Traditional IRA

Education Savings Coverdell ESA

Benefits:

  • Help save for a child's education expenses (Tuition, fees, books, supplies)
  • Nondeductable contributions that provide the potential for tax-free withdrawals
  • Anyone can contribute to a child's ESA 

Learn more about Coverdell Education Savings Accounts

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Teaching Kids How to Save

Benefits:

  • Open an account for as little as $5
  • Get a free gift when you sign up
  • Play educational online games and activities

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Note: To open a kids club account please bring the following identifcation (Birth Certificate, Passport, Student ID) and social security card or tax return.
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