Save money beyond your conventional savings account with a Money Market Account from Metro Credit Union! Easily grow your savings account through automatic transfers, direct deposit or individual deposits. Earn interest at a higher rate than a traditional savings account. Invest in your financial future with Metro Credit Union today!
What is a Money Market Account?
A Money Market account is a type of savings account that rewards you for growing your savings. It combines features of both savings and checking accounts. Compared to a conventional savings account, these accounts typically provide a higher interest rate than a regular savings account with limited check-writing capabilities. A higher minimum balance is generally required compared to a traditional savings account.
Benefits of a Money Market Account with Metro Credit Union
Opening a Money Market Account with Metro Credit Union can offer several advantages, depending on your financial goals and preferences.
![A money market account will earn more interest than a traditional savings account which is why people invest money into it.](https://metro.coop/wp-content/uploads/2023/10/speaker-business-meeting-conference-hall_155003-12698-e1704317367594.jpg)
higher interest rates
Higher interest rates are a major advantage of this type of savings account compared to a traditional savings account. This allows your money to grow more quickly over time.
![Money market accounts are considered secure investments & the first $250,000 is protected through the government agency NCUA.](https://metro.coop/wp-content/uploads/2024/01/Best-Money-Market-Account.jpg)
safety and stability
These types of accounts are considered low-risk investments. Rest assured that the money you are saving will be Federally insured up to $250,000 by the NCUA.
![Money market accounts are flexible in accessing your money versus traditional savings accounts & you can write checks.](https://metro.coop/wp-content/uploads/2023/10/group-young-people-are-looking-map-where-they-are-while-walking-autumn-forest_613910-15159-e1704318052132.jpg)
accessibility
Some restrictions still apply but these accounts offer a higher degree of liquidity compared to other investment options. Additionally, you have access to your accounts at any time through our Metro Credit Union Mobile Banking App (Metro MOGO)
![Writing checks is a big advantage that money market accounts have that traditional savings accounts do not.](https://metro.coop/wp-content/uploads/2023/10/yes_53876-47102-e1704491509740.jpg)
check-writing privileges
Check-writing privileges is just one of the advantages that these accounts provide that traditional savings accounts do not.
![A money market account helps to diversify your savings portfolio allowing another avenue to earn money.](https://metro.coop/wp-content/uploads/2023/10/people-having-fun-wedding-hall_1303-19593-e1704319684158.jpg)
diversification
Add a layer of diversification to your savings portfolio. While not as high-risk as some investments, it can offer better returns compared to a regular savings account.
Metro Credit Union Money Market Account Perks
Minimum Opening Deposit |
|
Interest Paid | |
Minimum Balance | $2,500 monthly minimum balance must be maintained to earn dividends |
Monthly Service Charge | $10 Monthly fee if balance falls below minimum of $2,500 |
Check Writing Privileges | Check writing capabilities |
Transactions |
Limit of 6 transactions per month free of charge Free 24 hr online/telephone banking access |
Statement Options |
Paperless Paper Statement ($$) |
Open a Money Market Account
Ready to start saving and earning more money with Metro Credit Union? Fill out the form below saying that you’d like to open a Money Market account. A Metro Credit Union representative will be in touch with you shortly.