Community Credit Union (CCU) offers a variety of financial vehicles that provide individuals and families with a safe place to keep their money until they need to access it, whether for everyday transactions, emergencies, or unexpected opportunities. You probably are already very familiar with the most common banking options we offer, such as checking and savings accounts. So, today we’d like to introduce you to another type of CCU product called a money market account. This type of account combines many of the best features of traditional savings and checking accounts, making it an exceptional way to both save and grow your money.
Depending on your financial goals and needs, a CCU money market account might be a great fit. But first, let us tell you more about it and why you might want to open one with us today.
Three Reasons to Open a CCU Money Market Account
1. Your money typically grows faster.
CCU offers an array of money market products with favorable interest rates that are based on the amount you open your account with. In fact, depending on your first deposit amount, you might be able to access a money market account with an annual percentage yield (APY) of as much as 5%*. While opening a high-yield money market account may require a larger initial deposit than you might make when opening a low-interest checking or savings account, you’ll see the positive results of your investment right away in faster-growing monthly balances.
2. You get easy access to your money.
A CCU money market account comes with check writing privileges, debit card access, and penalty-free withdrawals. This means whenever you need the dollars you’ve been saving and growing in your money market account, accessing them is simple, fast, and stress-free. Typically, there is a transaction limit of six per month, so you’re not going to want to use the funds in your money market account to pay for your morning coffee, filling up your gas tank, weekly groceries, or other similar regular expenses. Instead, you’ll want to let your money sit in the money market long enough for the higher interest rates to make a real impact on your dollars. It is an excellent short-term savings vehicle that you might want to plan to use to cover the cost of a dream vacation, a projected tax liability, or a new car, or simply keep as an emergency fund for an unexpected event.
3. Your money is well protected with us.
A CCU money market account offers the best of both worlds by providing you with financial growth and security. All the funds in your money market account, up to $250,000, will be insured by the National Credit Union Administration (NCUA), and any excess amount will be insured by the Massachusetts Credit Union Share Insurance Corporation (MSIC). So, when you deposit your valuable dollars into a CCU money market account, you can have peace of mind that you’re not only maximizing your money’s potential but keeping it safe as well.
Get Serious Savings Power with a CCU Money Market Account
Until we figure out how to grow money on trees, a CCU money market account might be the next best way to build your savings quickly, whether you’re trying to do so for yourself, your family, or your business. If you’d like to learn more about our money market account offerings, please email Victor Ferreira, call us at 800-862-7009, or visit us at one of our three convenient branch locations. Providing you with outstanding money market account options is just one of the many ways that CCU hopes to help you achieve your financial goals and life’s ambitions.
*Rates apply to funds coming in from outside of existing Community Credit Union accounts only and are subject to change at any time. Go to money market accounts for additional terms and conditions.