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The Money Market Account (MMA) is a high yield savings account that earns a higher rate of return than the regular share account, but restrictions apply. The access method to this account will be in the form of internal transfers; i.e. from MMA to Savings or MMA to Checking Account. No checks.
RATE INFORMATION
- Dividends are calculated based on the average daily balance method
- Dividends are paid and compounded monthly. Dividends paid to the account on the last day of each month.
- A minimum daily balance of $2,500 in the account each day to earn the disclosed annual percentage yield.
- The dividend rate and annual percentage yield may change monthly.
- Rates are structured based upon the following tier:
| $0 |
- |
$2,500 |
Minimum Balance |
0% |
| $2,500.01 |
- |
$19,999.99 |
Tier One |
Rate 1 |
| $20,000.00 |
- |
$49,999.99 |
Tier Two |
Rate 2 |
| $50,000.00 |
- |
over |
Tier Three |
Rate 3 |
- If the account is closed before the end of the dividend period, dividends will be forfeited.
MINIMUM BALANCE REQUIREMENTS
- The minimum balance to open the account is $2,500.
- The minimum balance to keep the account open is $100.
TRANSACTION LIMITATIONS
- The minimum deposit allow is $250.
- The minimum withdrawal is $500.
- The maximum withdrawals per month are two.
- The credit union reserves the right to require a seven-(7) day notice of withdrawal.
- Subject to Regulation D.
FEES / CHARGES
| Excessive Withdrawal Fee (over two withdrawals per month) |
$ 5.00 |
| Minimum Withdrawal Fee (any withdrawal less than $500) |
$ 5.00 |
| Monthly Service Charge if balance falls below $2,500 at any time |
$10.00 |
| Deposit Less than Minimum ($250) |
$10.00 |
Your savings is federally insured to at least $250,000 and backed by the full faith and credit of the United States Government, by the National Credit Union Administration, an agency of the U.S. Government. Effective October 15, 2008, Traditional and Roth IRAs (Individual Retirement Accounts) are insured to $250,000 by the National Credit Union Administration, an agency of the U.S. Government. We do business in accordance with the Federal Fair Housing and the Equal Credit Opportunity Act.
Additional information can be found in the NCUA Your Insured Funds brochure.
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