What is a Money Market Account?

A money market account is liquid account that has more restrictions than a checking account but earns a higher rate of interest and requires a higher minimum balance.  The minimum balance required to open a money market account at the Credit Union is $5,000.  This account pays a tiered rate depending on the balance in the account.

Currently, the tiers and rates are as follows:

            Minimum Balance         Dividend Rate       

                  $ 5,000                        0.10%              

                  $20,000                       0.25%              

                  $50,000                       0.35%              

These rates are reviewed monthly and dividends are posted monthly. See Money Market Disclosure at Home page.  To set up a Money Market Account, email asalvatore@research1166fcu.org