MECU Money Market Accounts
Earn more, yet remain flexible.
MECU Money Market Accounts generally earn higher interest than a regular savings account, yet your money is more accessible than it would be in a CD.
You can open your account with just $500 and make unlimited deposits. Plus, you can make contributions through direct deposit, payroll deduction, or automatic transfer from any other MECU account.
THERE ARE TWO TYPES OF MONEY MARKET ACCOUNTS:
BASIC MONEY MARKET
Rates as of: February 1, 2012 Money Market Account* |
|||
|---|---|---|---|
| Account Type † | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit |
| Less than $500 | 0.00 % | 0.00 % | $ 500 |
| $500 - $9,999.99 | 0.55 % | 0.55 % | $ 500 |
| $10,000 - $24,999.99 | 0.60 % | 0.60 % | $ 500 |
| $25,000 - $49,999.99 | 0.60 % | 0.60 % | $ 500 |
| $50,000 - $74,999.99 | 0.65 % | 0.65 % | $ 500 |
| $75,000 - $99,999.99 | 0.65 % | 0.65 % | $ 500 |
| $100,000 or more | 0.75 % | 0.75 % | $ 500 |
* Fees could reduce the earnings on the account. The rate may change after the account is opened. † Minimum balance in order to earn stated APY. |
|||
$500 minimum deposit. Account balances below $500 are subject to a service fee. Variable interest rates, subject to change at any time, but are nearly always higher than a basic savings account. Interest is deposited into your account monthly. Account limitations may apply. See Fee Schedule for full disclosure.
PREMIER MONEY MARKET
All the benefits of a Basic Money Market Account, but for larger sums of money that need to remain liquid while earning interest. Minimum deposit of $50,000.
Rates as of: February 1, 2012 Premier Money Market Account* |
|||
|---|---|---|---|
| Account Type † | Interest Rate | (APY) Annual Percentage Yield |
Minimum Initial Deposit |
| Less than $500 | 0.25 % | 0.25 % | $ 50,000 |
| $500 - $9,999.99 | 0.55 % | 0.55 % | $ 50,000 |
| $10,000 - $49,999.99 | 0.65 % | 0.65 % | $ 50,000 |
| $50,000 - $99,999.99 | 0.75 % | 0.75 % | $ 50,000 |
| $100,000 - $149,999.99 | 0.85 % | 0.85 % | $ 50,000 |
| $150,000 - $499,999.99 | 0.85 % | 0.85 % | $ 50,000 |
| $500,000 - $2,499,999.99 | 0.90 % | 0.90 % | $ 50,000 |
| $2,500,000 or more | 1.00 % | 1.00 % | $ 50,000 |
* Fees could reduce the earnings on the account. The rate may change after the account is opened. † Minimum balance in order to earn stated APY. |
|||
$50,000 minimum deposit. Account balances below $500 are subject to a service fee. Variable interest rates, subject to change at any time, but are nearly always higher than a basic savings account. Interest is deposited into your account monthly. Account limitations may apply. See Fee Schedule for full disclosure.
