Money Market Account
A savings account with limited check writing convenience, great for the investor.
The Money Market Account offers the following:
- Limited check writing
- Interest bearing account with four interest rate tiers
- Check safekeeping required
- Monthly statement
- Immediate access to your funds
Recommended if you:
- Can invest at least $1,000
- Cannot commit your funds for a specific period of time
- Want limited check access to your investment account
- Want to earn higher interest as you increase your balance
Benefits:
- Earn higher interest with a higher balance.
- Good liquidity with no minimum investment period.
- Have the ability to write a limited number of checks
Important Facts:
- Minimum to open: $1,000
- Interest is compounded and paid monthly
- Can make 6 transfers by preauthorized, automatic, check or draft to third parties
- Monthly statement
- For average daily balances of $1000 or more, there will be no monthly maintenance fee
Fees:
- Maintenance Fee: $6 per month maintenance fee if average daily collected balance falls below $1000
- Withdrawal fee: $5 each after 6 per statement cycle