Money Market accounts are like a savings account that earns a higher annual percentage yield than most savings accounts. Dividends are earned monthly. Members may make a limited number of transactions against the account, including writing checks, withdrawals, and transfers. Members have the option to purchase a pack of special Money Market Account checks. The account must carry a balance of $2,500 to earn dividends and is a great way for someone with a considerable amount of money to earn higher dividends on their funds. With the new two tier structure balances of $25,000 or more earn an even higher rate. Accounts whose balance falls below $2,500 in a month will be assessed a $5 service fee. The minimum amount to open a Money Market Account is $2,500.
Adding To Your Security
Your savings are insured up to $350,000. The first $100,000 per member is insured by the National Credit Union Administration, a U.S. Government Agency, with an additional $250,000 of coverage provided by Excess Share Insurance Corporation (ESI), a private corporation.
Click here for information on current dividend rates.
|
