Money Market

Slide 2
Money Market Accounts

Higher Rates.
Easy Access


As your deposits build, your rate increases!

Savings Rates - Effective Thursday, November 2, 2023
APYMinimum
Deposit
Minimum
Balance
MONEY MARKET ACCOUNT1.01% $100
MONEY MARKET ACCOUNT1.11% $2500
MONEY MARKET ACCOUNT1.26% $10000
MONEY MARKET ACCOUNT1.76% $25000
MONEY MARKET ACCOUNT2.27% $50000
MONEY MARKET ACCOUNT2.53% $100000

FREQUENTLY ASKED QUESTIONS

Who should consider a Money Market Account?

A money market account would be beneficial for individuals:

  • who don’t need frequent access to their funds but want flexibility for occasional withdrawals
  • looking for higher interest rates compared to regular savings accounts
  • desiring a low-risk investment option with stability
  • who prioritize the security of their savings while still aiming for some growth

Get Your Money Market Account Now!

If you would like to enhance your savings with a Money Market Account with IRFCU, you can open your account by visiting our nearest branch, or via our online and mobile banking platforms.  

How are Money Market Accounts different from savings accounts or certificates?

Money market accounts combine aspects of both savings and checking accounts, typically offering higher interest rates than regular savings accounts. They provide easy access to funds, often with limited withdrawal and or transfer privileges. Savings accounts are more straightforward, offering a place to store money with a modest interest rate, but they may have lower rates compared to money market accounts. Certificates of deposit, on the other hand, involve a fixed term and higher interest rates, but funds are generally inaccessible until the maturity date.

Money market accounts strike a balance between accessibility and interest earnings, while savings accounts are more liquid, and certificates of deposit offer higher rates with a fixed term commitment. The choice among these options depends on an individual’s financial goals, liquidity needs, and risk tolerance.

APY= Annual percentage yield.
Credit union deposits are federally insured by the NCUA. The minimum balance required to earn the APY is the same as the minimum amount to open the account. 6 available withdrawals per month.


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