Money Market Account
To earn a higher yield on large-balance savings accounts, a Money Market Account is the right choice.
A Money Market Account is considered a savings, subject to certain restrictions. Restrictions include a minimum balance of $2,500.00 in the account and since the account is not considered a transaction account (checking account) a limit of six withdrawal transactions to third parties are permitted per month.
Higher Yield Dividend Rate
A Money Market Account pays a higher dividend rate than a savings account and dividend rates are tierd based on account balance. View the rates page for tiers and current rates.
Withdrawals and Deposits Allowed
Withdrawals are allowed anytime in amounts of $250.00 or more as long as account does not drop below the $2,500.00 minimum balance. Make deposits to this account anytime in increments of $100.00 or more.
There are no fees to open or maintain a money market account, and should you need to close this account you will not be assessed a penalty or fee.