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High Five Savings Account

With this online savings account, your short-term savings goals are within reach! Not only does this account pay higher than average dividends, it's also accessible so you can withdraw funds when you need them.


The best account for short-term savings

Whether you're saving for a new car, a dream vacation or just setting up an emergency fund, MIDFLORIDA's High Five Savings account makes sure your money is put to work for you. You'll earn a rate that's top of market on certain balances, while keeping easy access to your cash.  Available to open online only.

Earn a top rate
Flexible access to money
Save toward financial goals

Account Rates

Tier Rate APY
Balances up to $2,000 4.89% 5.00%
Balances over $2,000 0.01% 5.00% to 0.01%

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How do blended rates work?

The High Five Savings account pays a different dividend rate on the amount of funds in each tier. Each dividend rate will apply only to the portion of the account balance within each tier and not the entire account balance. This is known as a blended APY.  

Blended APY illustration

The higher your balance, the lower the blended APY:

  • For a $2,000 deposit, the APY = 5.00%
  • For a $2,500 deposit, the blended APY = (2000*0.0489+500*0.0001)/2500 = approx. 3.91%
  • For a $3,000 deposit, the blended APY = (2000*0.0489+1000*0.0001)/3000 = approx. 3.26%
  • For a $4,000 deposit, the blended APY = (2000*0.0489+2000*0.0001)/4000 = approx. 2.45%
  • For a $5,000 deposit, the blended APY = (2000*0.0489+3000*0.0001)/5000 = approx. 1.96%
  • For a $7,000 deposit, the blended APY = (2000*0.0489+5000*0.0001)/7000 = approx. 1.40%

Simple interest calculations for illustration only.

Image of a smiling Central Florida man reviewing the High Five Short-Term Savings account options offered by MIDFLORIDA Credit Union.


Tools for making saving easy

MIDFLORIDA's High Five Savings account is a smart option for when you want to save up money for a large expense. Your funds aren't tied up in a locked account and can easily be withdrawn when you need it.  

  • Set up automatic savings with direct deposit or recurring transfers.
  • Move money from external accounts to your MIDFLORIDA accounts within Free Online Banking with our Linked Accounts feature.
  • Create goals and chart your progress within Free Online Banking.

Details & Fees

Upfront Account Details

Name Fee
Monthly Maintenance Fee $10. Waived if you maintain an average daily balance of $100
Minimum to Open $100
Dividends Yes
Minimum to Earn Dividends $.01 - Dividends vary based on account balance.
Access Options Online banking, branch
Statement Options eStatements are free with extended eStatement archival for 5 years. Paper statements are available for a fee. See fee schedule
Overdraft Option Yes
Notices & Disclosures
Offer valid as of June 1, 2024. Membership and eligibility requirements apply. Fees may reduce earnings. A $100 minimum opening deposit is required for this account. Rates may change after the account is opened, without notice. Annual Percentage Yield (APY) is accurate as of June 1, 2024. See a MIDFLORIDA Credit Union associate for additional terms and fees.