WHAT IS THE MONEY MARKET ADVANTAGE ACCOUNT?

A money market is a type of saving account that pays a higher interest rate than regular savings, has higher minimum balance requirements ($2,500), and allows a maximum of three withdrawals per month. There are no term limits on these accounts.

The monies are insured by the National Credit Union Share Insurance Fund (NUCSIF), an agency of the federal government up to $100,000.

HOW IT WORKS:

• Rates will be set on the 1st workday of each month and equal to the rate listed in the Wall Street Journal Money Market rate as of the last day of the previous month. The rate will be effective for the upcoming month.
  

• The minimum deposit is $2,500. There is no maximum.
  

• If the account balance falls below the $2,500 minimum at any time in the month, a $10.00 fee will be charged on the account for that month. If the account balance remains below the minimum balance at the beginning of the following month, another irreversible $10.00 fee will be charged. This fee will continue to be charged each month until the account balance is brought up to the minimum $2,500 balance.
  

• If the account remains below the minimum $2,500 balance for three (3) consecutive months, the account will be closed and the monies transferred to the regular share account.
  

• A maximum of three (3) withdrawals per month will be allowed. Each withdrawal over the maximum three (3) will be charged a $5.00 fee as long as the account balance is $2,500 or more. If it falls below the $2,500 minimum, the $10.00 fee will be applied as described in the 3rd bullet above.
  

• Interest will be accrued daily but posted monthly on the 1st day of the following month, as long as the account is open.
  

• The account may be closed at any time with no penalties.
  

If you have additional questions, please contact one of our Member Service Representatives