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All UFCU locations will be closed Monday Nov 11, 2023, for Veterans Day. We will resume normal hours Tuesday, Nov 12. Read More
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A money market account offers flexible, high-yield savings that earns interest while continuing to provide access to your funds any time, day or night. You can access your funds without penalty anytime.
You can view and access your available money market funds immediately through UFCU Online Banking, Mobile Banking, Phone Banking, or by stopping by any location.
There is a minimum deposit required to open a money market account ($2,500). When money market accounts have a zero balance, they will be closed automatically. But any account with a balance of $.01 or more can remain open.
Interest is calculated daily, compounded and credited monthly.
Interest is posted monthly to your money market account. The transaction description will appear in your account history and statement as “dividend.”
No.
Visit our Personal Money Market or Business Money Market page to learn about the most current rates.
Yes, they are eligible for insurance. Federally chartered credit unions, such as UFCU, are federally insured by the NCUA and offer a safe place for you to save your money, with deposits insured up to $250,000 per individual depositor. Similarly, banks who are federally insured by the FDIC have the same insurance protections. For more information, please refer to our Personal Account Disclosures.
Yes. Overdraft Protection Transfer allows funds to be transferred from a UFCU account, such as savings, money market, or line-of-credit. Just let a UFCU representative know that you’d like to designate your money market account for overdraft protection.
Please visit a location or call (800) 252-8311 to close your account. You may move your funds into a regular savings account or discuss other options with a financial advisor on our CFS Investment team.1
Dividends accrued are paid when a MM Share (or the Account) is closed mid-month.
If your account qualifies, you will earn a higher dividend for balances less than $10,000. Our Bonus Dividend option allows you to earn even an additional .05% APY on balances less than $10,000 in Money Market Share deposits. We’ll automatically apply your bonus dividend rate when you perform at least 10 qualifying checking account transactions in a single month, including your debit card purchases.
1 Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. UFCU has contracted with CFS to make non-deposit investment products and services available to credit union members.
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