Money Market FAQs

  • 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 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 (PDF).

  • 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.*

  • 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.