Your Questions, Answered

Mitten Savings accounts are for natural persons and are not currently available to businesses or other entities. Mitten Savings accounts are currently only available to U.S. citizens.

Adults age 18 and older can qualify for Mitten Savings in one of two ways:

Michigan qualification: If you live, work, or worship in Michigan, you can qualify directly for membership with Mitten Savings, a division of Community Choice Credit Union.

Community Choice Foundation qualification: If you do not qualify through the Michigan criteria, you can qualify by becoming a member of the Community Choice Foundation. As part of your Mitten application, you will agree to join the Foundation, and Mitten Savings will pay the $10 Foundation membership fee on your behalf.

Mitten Savings is a digital-only high-yield savings account designed to help your money earn more with fewer rules. It offers a competitive rate, no monthly fees, and a simple online experience—without branch visits, fine print, or complicated requirements.

You can complete your account opening before scheduling your first deposit. The minimum deposit amount is $5.00. Balances begin earning dividends at $100. If an account is opened and remains unfunded, the account may be closed after 90 days.

• Download from the App Store
• Download from the Google Play store

The Community Choice Foundation is the charitable arm of Community Choice Credit Union and a 501(c)(3) nonprofit organization. It’s mission is to create an impact on people’s lives by supporting local causes and nonprofits in the communities where members live, work and play. 

No. Mitten Savings has no monthly maintenance fees, so your savings can grow without unnecessary costs eating into your earnings.

Balances begin earning dividends at $100. Accounts that remain below a minimum balance of $100 may be subject to closure after 6 months. If an account is opened and remains unfunded, the account may be closed after 90 days.

Mitten Savings’ rate is competitive and variable, meaning it may change based on market conditions. You’ll always see the current rate clearly displayed.

You can link one external bank account to fund your Mitten Savings and make transfers. This streamlined setup is intentional to keep your experience simple while supporting security and risk controls.

You can complete your account opening before scheduling your first deposit. The minimum deposit amount is $5.00.  Balances begin earning dividends at $100. If an account is opened and remains unfunded, the account may be closed after 90 days.

Yes. There is a maximum balance of $3,000,000.00 per account.

Mitten Savings’ accounts utilize ACH transfers. An ACH transfer is a safe, common way to move money electronically between bank or credit union accounts in the U.S. ACH stands for Automated Clearing House—the network that banks and credit unions use to send money back and forth behind the scenes.

Think of ACH like secure digital mail for money:

1. You tell Mitten Savings to send or receive money.
2. The ACH network safely routes the request between financial institutions.
3. The money is deposited into the receiving account—usually within one to two business days.

Because ACH transfers are processed in batches and checked for accuracy, they’re not instant, but they are more stable and widely used.

Withdrawals can only be made by ACH transfer back to your linked external account. We don’t support bill pay, peer-to-peer payments, debit cards, or checks from this account.

Yes:

• Up to $50,000 per transfer
• Up to $50,000 per day
• Up to $250,000 per month
  

These limits help protect your savings and reinforce the account’s savings-only purpose.

Yes. Mitten Savings is built to be managed entirely online, from opening your account to moving money and tracking your earnings. There’s no branch visit required, and account opening and online banking enrollment happen in one streamlined digital experience.

• Download from the App Store
• Download from the Google Play store

No. Mitten Savings is designed as a savings-only account, not a checking account. That focus helps us offer a stronger rate while keeping your savings simple, predictable, and easy to manage.

Your interest rate increases as your balance grows:

• Smaller balances earn a lower rate
• Higher balances earn higher rates
• Balances of $10,000 or more earn our headline rate

This structure rewards committed savers and encourages steady balance growth over time.

Currently, Mitten Savings is a single-owner savings account. We know managing your savings with a partner may be important and we’re working on this for a future release. Today, we suggest using your primary bank or credit union’s account aggregator tool to share your view of Mitten Savings.

We hope you never want to wave good-bye to simple saving at market-leading rates, but if your needs change, simply send a secure message to our Mitten Savings Support team. We’ll take great care of you.

For secure support, utilize the easy messaging feature found in the Mitten Savings app. If you are unable to log-in, contact us here.