Money Market Account
Money Market Accounts offer the advantage of earning a higher rate of return than a regular share account. They offer higher APY** without locking up your money and you’ll watch your money grow as the dividends are compounded monthly. A minimum balance of $1000 is required to avoid service fees and you’re allowed a maximum of 6 withdrawals per month. The rates are tiered based on account balance, and your investment is risk-free because it’s federally insured!
**APY = Annual Percentage Yield. All share certificate dividends are compounded monthly and credited monthly. Account subject to penalty for early withdrawal. Fees can reduce the earnings on the account.