Money Market

Money Market Accounts are a special savings account and are insured by NCUSIF. The Interest Rate is based on Fed Funds Rate as quoted on http://www.federalreserve.gov/monetarypolicy/openmarket.htm

The interest rate is set according to the following formula:

  • 1,000.00 to 24,999.00 Fed Rate Less 1.50%
  • 25,000.00 to 74,999 Fed Rate Less 1.35%
  • 75,000 and up Fed Rate Less 1.25%
  • For example: Fed Funds Rate is 4.75%
    • 1,000.00 to 24,999.00 Fed Rate Less 1.50% is 3.25%  
    • 25,000.00 to 74,999 Fed Rate Less 1.35% is 3.40%   
    • 75,000 and up Fed Rate Less 1.25% is 3.50%

The account may be subject to the following fees

  • Maximum 6 withdraws per month
  • Excess withdraw fee of $5.00 per withdraw
  • Low Balance fee $10.00 per month is charged if the account goes below minimum balance of $1,000 any time during the month.

Interest is calculated daily and posted monthly. See the Share Rate page for current rates.

Please note: The Credit Union Board of Directors has set the rates for the Money Market account above the formula rate.