Chequing Account
Monthly statements with imaged cheques are provided to members at month end. We offer Operating Lines of Credit which can be attached to the chequing account. Contact our lending department for more details.
Plan 24
Our Plan 24 daily interest savings account keeps your money busy earning interest every 24 hours, every day of the week.
Earn Interest on Your Daily Balance
With Plan 24, interest is calculated every 24 hours on the balance in your account that day. Deposit as little or as much as you like, knowing that every penny actively earns interest as long as it stays in your account. Interest is paid monthly.
Regular Savings
Interest on regular savings accounts is calculated on a minimum quarterly balance, and paid annually.
Special Savings
A savings account that pays interest semi-annually (June 30th and December 31st). Interest is calculated monthly on the minimum monthly balance. Deposits receive credit if deposited on the first banking day of each month.
Term Deposits
Funds are deposited for a specific period of time. Fixed interest rates are offered on invested money for designated time periods.
Redeemable and Non-Redeemable term deposits are offered from 30 to 364 days, with interest paid at maturity and 1 to 5 year terms, with interest paid annually, to an account of the member's choice. Interest is paid on an annual basis to an account of the member’s choice or compounded. Non-redeemable terms CANNOT be redeemed prior to maturity.
Management provides daily quotes on Term Deposits in blocks of $50,000 and over.
REGISTERED PLANS
RRSP & RRIF
Variable Accounts
- interest is calculated on minimum closing daily balance
- Pre Authorized Deposits may be set for regular contributions
Fixed Term Deposits
- term lengths 1 to 5 years
- interest is paid semi-annually
- non-redeemable except upon death and Revenue Canada 's Home Buyers and Life Long Learning Plans
RESP – Registered Education Savings Plan
Mankota Credit Union is an agent for the Concentra Financial which is another avenue for investing in registered products
LIRA – Locked In Retirement Account
- for funds that have been transferred from a pension plan
- same feature as RRSP Fixed Terms and RRSP Variable apply
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