Earns Higher Interest Than Traditional Savings

People save for various reasons. Some goals, such as building a college fund, have a long horizon. Others, like saving for a summer vacation, have a more limited time frame.  A Money Market Account (MMA)is a savings product designed for short term goals like a family trip, a backyard playground, or school tuition.  It pays more interest than a traditional savings account but doesn’t tie up your money for a specific period of time like a savings certificate.

MMAs are strictly designed for savings. You won’t be tempted to dip into your nest egg because this account is designated as ‘non-transactional’. That means that payments such as debit card purchases, checks, bill payments, automatic transfers and electronic withdrawals cannot be processed through an MMA.  Similarly, it cannot be linked to a checking account for overdraft purposes.

Interest will be compounded daily on balances of $2,500 or more and will be credited to your account monthly. No interest accrues on days when the balance is below the $2,500 threshold.

Rates are shown below for different types of savings accounts.  See if an Money Market account is just what you need. If so, please contact a Member Services Representative in person or by phone.