Money Market Investment
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Money Market Investment |
             
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A Money Market Investment account offers you a higher yield than your Regular Savings, yet still allows you to maintain a liquid investment that pays tiered dividends. With the minimum deposit and balance to earn dividends being at $2,500, this is a great way to save money and earn higher dividends. Limitations: Regulation D (Reg D), a regulation imposed by the Federal Reserve Board on all financial institutions, sets limits on the number of monthly transfers and withdrawals that can occur for a Savings or Money Market Savings (Investment) account. Members with Savings or Money Market Savings (Investment) accounts are limited by this federal regulation to making six (6) automatic withdrawals or transfers per account, per calendar month from any of these accounts. Credit union policy allows two (2) withdrawals or transfers on the Money Market Investment account, per calendar month before applying a fee of $5 for each one thereafter. An additional condition that's unrelated to Reg D but just as crucial, is the balance must remain at or above $2,500 during the month or a fee of $10 will be assessed to the account. We believe this policy helps encourage members to save more and maintain a liquid investment which allows us to pay higher dividends.
Member accounts are federally insured to at least $250,000.00 by the National Credit Union Administration, a U.S. Government agency. |
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