Money Markets in Vermont
Money Market Accounts provide a competitive rate of interest similar to a share certificate, but offer the opportunity for account holders to conduct a limited number of transactions on the account, thereby providing more flexibility than a certificate. Money Market Accounts offer a higher yielding alternative to our standard savings account. It takes just $500.00 to get started earning a great rate with a 802 Credit Union Money Market Account.
Money Market
A Base Shares, Youth Savings, or Business account is required to open a Money Market account.
Features
- $500 minimum balance.
- Tiered-rate structure: Different annual percentage yields (APYs) are assigned to the balance ranges (APY increases with balance of the Money Market account):
- $500 – $1,999 = Tier 1 (Lowest APY)
- $2,000 – $9,999 = Tier 2
- $10,000 – $24,999 = Tier 3
- $25,000 – $49,999 = Tier 4
- $50,000+ = Tier 5 (Highest APY)
- Six withdrawals per month.
- $5 fee per withdrawal exceeding the monthly limit.
- Dividends are paid monthly.
- Statements (paper or electronic) are generated monthly.
- Can be combined with all other 802CU accounts into one monthly statement.
Benefits
Money Market Accounts offer a higher APY than our Base Shares, Business, and Youth Savings account products.
Unlike certificates, which have a penalty for any withdrawals before their maturity date, Money Market accounts allow up to six penalty-free withdrawals per month.
Ideal product for members with larger sums of money sitting in their Base Shares or checking account, who are looking for a better APY without tying up all their funds in a certificate.
In search of more information? Contact your nearest location.
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Join 802 Credit Union today to unlock personal financial services designed to help your money grow faster and go further. From fee-free checking to flexible savings options, membership offers a lifetime of benefits.
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Already a Member? Open Your Money Market In-Branch.
As a member of 802CU, you’re already set to unlock more financial opportunities. To open your money market account, visit one of our branches today and continue maximizing your financial potential with competitive products and personalized service.
