Maryland Saves Accounts

Aberdeen Proving Ground Federal Credit Union

Point of Contact: Nancy Hill, Phone: 410-272-4000 ext. 5531

Access: No appointment necessary. Visit any branch or our website, or call our Member Service Center.

Deposit Options:

• Regular Share Savings Account establishes your membership with $6.
• Free Checking Accounts opened with $1 (plus the cost of your 1st check order).
• Moola Moola Savings Program for youth ages birth through 13, opened with $6.
• STARSS Youth savings program for youth ages 14-21, opened with $6.
• Savings Certificate Accounts for youth and adults.
• Money Market accounts, vacation, holiday and special purpose saving accounts. Individual Retirement Accounts.

APG Federal Credit Union is a community credit union serving everyone (and their immediate family members) who live, work, worship, volunteer, or attend school in Harford or Cecil counties and certain areas of Middle River, Maryland.

Note: Valid Government issued photo identification required to open accounts.

Point of Contact:  1-800-248-MECU or visit our website, www.mecu.com.

Access: No appointment necessary. Visit any branch or visit our website.

Deposit Options:

• Member Account:
  You become a member when you open a Share Savings account with a minimum $5 deposit; you must keep $5 minimum in your account to earn dividends; dividends are paid monthly; Direct Deposit available.
• Auto Build Certificates of Deposit:
  To earn a higher interest rate and protect your savings, MECU offers 12-month and 24-month Auto Build CDs; $25 minimum opening deposit, add to the CD whenever you want, as much as you want; early withdrawal penalty will apply.

MECU of Baltimore, Inc. serves City government employees, their immediate family members and individuals who live, work, worship, or attend school in the city of Baltimore.

M&T Bank

Point of Contact: Sherrice Davis, CRA Officer 410-545-2321 or stdavis@mandtbank.com

Access: No appointment necessary. Visit any branch, or visit our website.

Deposit Options:

• Personal Savings Account*: FREE for the first year, After the first year, no monthly service fee when you maintain a minimum of $250 in your account, FREE account access at over 1500.
• Young people up 18 years old can began good savings habits early with an account with no minimum deposit, no minimum balance requirement and no monthly service charge.

M&T Bank is a regional bank with a tradition of building long-term relationships with the customers and communities we serve.

Note: Valid MD Driver’s License or MD Work ID

The Columbia Bank

Point of Contact: Barbara Sumney, CRA Officer, 410-423-8250 or bsumney@thecolumbiabank.com

Access: No appointment necessary. Visit any one of our 24 convenient locations, or visit us at our website

Deposit Options:

• Personal Savings: Opening Balance Requirement: $25.00 to open savings account.  Maintenance fee waived for 1st year.  $5.00 to open minor savings account with no fees.  
• Minimum Balance: After 1st year, $350 balance required to avoid a maintenance fee of $7.50/month

Howard, Baltimore, Prince George, Montgomery Counties and Baltimore City

ID: Valid Govt issued ID

Department of Treasury Savings Bonds

Point of Contact: For additional information, please call 1-800-722-2678.

Access: At any bank, thrift, credit union or on-line at www.treasurydirect.gov. At financial institutions, through payroll deductions, on the Internet, or through checking account deductions.

U.S. Savings Bond, Series EE:
Minimum initial balance as low as $25.00 (one half face value, $50 bond is $25). EE Bonds earn interest for 30 years and are ideal to save for long-term goals like education and retirement. EE Bonds increase in value each month, and interest is compounded semiannually.

U.S. Savings Bond, Series I (with inflation protection):
Minimum initial deposit as low as $50.00 (face value). I Bonds earn interest for up to 30 years. I Bonds increase in value each month, and interest is compounded semiannually.

Safety: Government-guaranteed. Immediate access after 12 months, but loss of 3 months interest if redeemed before 5 years.   Financial institution reports interest earnings on IRS form 1099-INT. Savings bonds are exempt from state and local income taxes. Eligible for tax benefits upon redemption when used for qualified education expenses.