The Money Market Account (MMA) offers a high-yield savings option with greater accessibility to funds compared to a Certificate of Deposit, while still earning a higher amount of interest than other savings products. Our high-yield MMA boasts a 3.00% APY which is considerably higher than the National Average. Please refer to the chart below for details.
|
Product |
National Average* |
|---|---|
|
Savings |
0.38% |
|
Checking |
0.07% |
|
48 month CD |
1.26% |
|
*National Average rates are from the FDIC at www.fdic.gov/resources/bankers/national-rates and are valid as of 6/16/2025. |
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In today's financial landscape, diversification is a key aspect of any balanced financial plan. While some funds are allocated for monthly expenses, others are dedicated to long-term retirement goals. However, the Money Market Account fills a significant middle ground, catering to a range of financial objectives. It is an ideal option for emergency funds or saving for a down payment on a home or any other anticipated need.
With a Money Market Account, you can benefit from enhanced liquidity, safety, and higher interest rates than a checking or savings account. Additionally, when the time comes to use the savings, transferring the funds to a checking account can be accomplished conveniently and without penalty.
| Account Feature | Money Market* |
|---|---|
| Minimum Opening Balance | $5,000 |
| Monthly Service Fee | None (if ADB falls below $5,000, $10.00 fee applies) |
| Earns Interest | Yes |
| Online & Mobile Banking | Included |
| Direct Deposit | Available |
| eStatement or Paper Statement | eStatement (No Charge) or $2.00 paper statement fee |
| Withdrawal/Transfer Limit | 6 free each month; $25 per month thereafter |
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*The dividend calculation method is Average Daily Balance (ADB), and dividends are calculated and paid monthly. Dividends are earned on the entire ADB balance if greater than $5,000. If below $5,000, a $10 monthly fee will be assessed, and no dividends are earned. The Annual Percentage Yield (APY) for ADBs between $5,000 and $250,000 is 3.00% APY. The dividend rate is .25% on balances $250,000 or greater and the resulting APY is blended. For example, the APY for $300,000 is 2.54% APY. Money Market rates are set monthly and APY is accurate as of 4/1/2025. Other fees may apply and can reduce the earnings on this account. This account does not permit debit card access, check writing, or BillPay payments. Account may not be used for overdraft protection or as collateral for secured loans. |
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