Money Market Account

MMDA Individual

A savings type account where you can make unlimited deposits, but there are some limits on withdrawal privileges. An excessive withdrawal of $6 for each debit transaction (ATM or in-person withdrawal, automatic transfer, or other payment out of this account) will be charged for every transaction in excess of six during a statement cycle.

• Minimum Balance to Open: $2,500.00
• Minimum Balance to avoid a fee: $ 1,500.00
  • If your balance falls below $1,500.00 on any day in the statement cycle, your account will be subject to a $4.00 Service Charge Fee for that statement cycle.
  • If your balance falls below $1,000.00 on any day in the statement cycle, your account will be subject to a $6.00 Service Charge Fee for that statement cycle.
  • If your balance falls below $500.00 on any day in the statement cycle, your account will be subject to a $8.00 Service Charge Fee for that statement cycle.
• Additional Terms: At our discretion, we may change the interest rate for this account at any time. Interest will be compounded and credited monthly. Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Earns interest based on the following tiers:

Tier 1 – If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be the Money Market Tier 1 Rate in effect at that time.

Tier 2 – If your daily balance is $2,500.00 to $99,999.99, the interest rate paid on the entire balance in your account will be the Money Market Tier 2 Rate in effect at that time.

Tier 3 – If your daily balance is less than or equal to $2,499.99, the interest rate paid on the entire balance in your account will be the Money Market Tier 3 Rate in effect at that time.