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5 Reasons to Open a Money Market Account
5 Reasons to Open a Money Market Account8/30/2018

african american couple talking to banking repAre you looking for a place to park your savings? Do you need an account that blends accessibility with a high rate of return?

Look no further! MCCU’s Savers Plus (Money Market) accounts offer convenient features with an attractive rate of return to help your money grow. You’ll earn a handsome return on your money without the risk of the stock market or the restrictiveness of a Share Certificate account. Plus, the account is liquid, meaning you can add to or withdraw from it at any time, as long as you maintain the required minimum balance.

Most Money Market accounts have a minimum balance requirement. Here at MCCU, you can open a Savers Plus account with as little as $2,500. As long as you keep your balance from falling below $2,500, there won’t be any fees or penalties.

Here are 5 reasons to open a Savers Plus account:

1.) Security - Funds in your Savers Plus are insured by the National Credit Union Administration (NCUA) up to $250,000. This means you can keep a large sum of money in your account without the risk of losing it to a market crash or a poor choice of investment.

2.) Accessibility – Savers Plus accounts have no maturity date. You are free to access the funds in your account at any time, typically without penalty. If you have a MCCU Savers Plus account, you can make up to six withdrawals from your account during each statement cycle.

Because of their accessibility, Savers Plus accounts are perfect for those large, occasional expenses like tuition payments, emergency household repairs and unexpected medical fees.

3.) High interest rates – Savers Plus accounts offer a rate of return that surpasses your typical savings account. Plus, our Savers Plus accounts are tiered - the more money you have in the account, the higher interest rate you will earn.

4.) Account benefits - Like every account here at MCCU, your Savers Plus account comes with loads of benefits and attractive features. There is no monthly maintenance charge for your Savers Plus account as long as you maintain at least $2,500 in the account. And you can access your money electronically, at an ATM, or by check.

If you’ve got a question or concern with your account, we’re always here to help. You can contact us by phone at 818-993-6328 during business hours or email us. A member service representative will be happy to assist you.

5.) Personal checks and debit card access - Savers Plus accounts offer flexibility. In fact, the funds can be easily transferred to your checking account. Then, you’re free to use the funds to make payments by writing personal checks or using your debit card.

Are you ready to start saving big? Open a Savers Plus account at MCCU today!

 



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