AMPLIFY Money Market Accounts

Answers to frequently asked questions

 

Why should I get a Money Market account?

• Higher dividend rates
• Dividends compound daily — paid monthly
• Liquidity — get to your funds quickly
• Great for those whose balances fluctuate
  

Can I earn higher dividends for higher balances?

Yes. Our Business Money Market account rates are tiered — the higher balance you have on deposit, the higher rate you will earn.

 

Is there a minimum transaction amount?

No. Your transaction can be for any amount.

 

Are there limitations on the number of transactions I can make per month?

Yes, there are some limitations. The Credit Union's Money Market accounts offer you easy access to your funds with:

• Unlimited Teller/Cashiers checks, transfers and cash transactions made in person.
  
• During any statement period, you may not make more than six withdrawals or transfers to another Credit Union account of yours or to a third party by means of pre-authorized or automatic transfer or telephonic order or instruction. (Examples: BillPayer, wire transfers).

Are there any fees associated with a Money Market?

Fees can be avoided by keeping the minimum amount required ($5,000.00) on deposit and by not exceeding the transaction guidelines listed above. If you exceed the transaction limitations in any statement period, your share draft may be returned unpaid, and your account will be subject to a $35 return fee per item. If you fall below the minimum balance requirements during the statement period, your account will be assessed a $15 monthly service fee.

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