Turn your savings into earnings
Money Market Accounts
Earn higher dividends and access your funds anytime.
What is a money market account?
A money market is a savings account that usually earns higher dividends than a primary savings account. In this way, it’s similar to a certificate. However, the funds aren’t locked down for a set period of time, so you can access them as needed.
What are the benefits of a money market?
- No time frame for maturity
- No penalty for early withdrawal
- Higher dividends paid on higher balances
- No minimum opening amount required
- Insured by NCUA
What are the benefits of a money market?
- No time frame for maturity
- No penalty for early withdrawal
- Higher dividends paid on higher balances
- No minimum opening amount required
- Insured by NCUA
What is a money market account?
A money market is a savings account that usually earns higher dividends than a traditional savings account. In this way, it’s similar to a certificate. However, the funds aren’t locked down for a set period of time, so you can access them as needed.
- No time frame for maturity
- No penalty for early withdrawal
- Higher dividends paid on higher balances
- No minimum opening amount required
- No minimum balance
- Tiered dividend rates
- Earns higher dividends on daily balance of $2,500 or more
- Insured by NCUA
Money markets and money market IRAs
What is the difference between a money market and money market IRA?
A retirement money market account may be held within a Roth IRA, traditional IRA, rollover IRA, 401(k) or other retirement account.
Unlike a regular money market account, a retirement money market is governed by a retirement plan agreement.
| Tiers | Dividend rate | Annual percentage yield | Minimum balance |
|---|---|---|---|
| Under $2,500 | % | % APY | $0 |
| $2,500–$9,999 | % | % APY | $2,500 |
| $10,000–$24,999 | % | % APY | $10,000 |
| $25,000–$49,999 | % | % APY | $25,000 |
| $50,000–$99,999 | % | % APY | $50,000 |
| $100,000–$249,999 | % | % APY | $100,000 |
| $250,000–$999,999 | % | % APY | $250,000 |
| $1,000,000 + | % | % APY | $1,000,000 |
Open your money market account today
If you’re looking for a savings account with competitive rates and flexible withdrawal options, open your money market account online, at your nearest branch or over the phone at 1-800-748-4302.
Open an accountCompare savings accounts
| Primary Savings | Money Markets | Certificate Accounts | |
|---|---|---|---|
| Key benefit | |||
| Key benefit | Simplicity Enjoy straightforward savings | Liquidity Withdraw funds as needed while earning competitive dividends | Secure and steady growth Larger starting balance leads to higher earnings |
| Minimum opening balance | |||
| Minimum opening balance | $1 | $0 | $5 for growth and Christmas Club certificates; $500 for standard, IRA and Roth IRA certificates |
| Time period | |||
| Time period | No time frame for maturity | No time frame for maturity | 6 months to 5 years |
| Deposits | |||
| Deposits | Funds can be added anytime | Funds can be added anytime | Growth and Christmas Club certificates—funds can be added anytime; standard, IRA and Roth IRA certificates—funds can only be added at account opening |
| Withdrawals | |||
| Withdrawals | Funds can be withdrawn anytime | Funds can be withdrawn anytime | Funds can only be withdrawn at account maturity without incurring a penalty |
| Earnings potential | |||
| Earnings potential | Moderate earnings Typically earns less than money markets and certificates Earn dividends on balances above $100 | Higher earnings Typically earns more than primary savings but less than certificates Higher tiered rates on balances above $2,500 | Highest earnings Typically earns more than money markets and primary savings |
| Get started | |||
| Discover more | See tiers & rates | Compare certificates | |
I began looking at the interest rates and the money market, and I immediately started moving money there—and that’s where I really started seeing some growth in my finances.
Robert Osborne, member since 2018
