Money Market Accounts
Money Market Accounts offer you a way to earn a competitive interest rate on your money. Money Market Accounts are a safe and secure way to invest your savings. American Share Insurance (ASI), the credit union’s primary share insurance company insures your funds up to $250,000 per account. There is no penalty for withdrawing money from your Money Market Account; however, the minimum withdraw amount is $500.
Money Market Accounts also allow you access to your funds without being locked into a set term.
Money Market Account (MMA)
- Minimum balance required $2,500 to earn dividends
- Dividends paid monthly based on a tiered balance
- Your account earns dividends based on the daily balance in your account. If the minimum balance is not met anytime during the month, no dividends will be paid on the account for that month.
- Fees could reduce the earnings on the account
- Earns a Variable Dividend Rate subject to change daily without prior notice
- Deposits can be at any time during the month
- Minimum withdrawal requirement $500
- Maximum six monthly withdrawals. The following are considered a withdrawal:
- Transfers, automatic debits, cashier’s check requests or cash withdrawals.
- Limit three free cashier’s checks per month
- Any transaction over the six allowed per month will cost $5 per transaction. Fees will be charged at the time of transaction if you go over the six allotted withdrawals.
* APY (Annual Percentage Yield)
° APR (Annual Percentage Rates)