If you already have at least $2500 in savings and plan to add to it, you might want to consider a money market account. It’s a great way to increase your earning power and still have some access to your money. The more you have in your account, the higher the interest rate.
Higher Balances = Higher Dividends
The money market account interest rate tiers are as follows:
- $60,000 and up
Money Market Account Features
- A minimum of $2500 is required to open the account and to earn interest.
- Interest is compounded daily and credited monthly.
- Unlimited deposits.
- Withdrawal ability.*
- Account access through online and mobile banking, ATMs, branch, and the 24-hour Automated Telephone Teller.
Money Market RatesEffective as of July 17, 2020
|*APY = Annual Percentage Yield. Fees could reduce the earnings on these accounts. Rates are subject to change at any time. Please contact the credit union to verify the most current rates.|
|$60,000 and over||0.15%||0.150%|
Account Limitations: Federal Reserve Board Regulation D limits withdrawals and transfers to no more than six preauthorized, automatic, or telephone transfers from this account to another account of yours or to a third party per month. Online/ mobile banking transfers or bill payments, and transactions made by debit card or a check to a third party are included in the Reg D limits. Withdrawals and transfers are not limited when made in person at a branch, ATM, or by mail.