Our money market account is designed to "bridge the gap" between your savings account and a certificate of deposit. If you have funds that you would like to earn a better rate of return than a savings account, but do not want to commit to a set time period, the money market account is for you! Also, we provide three levels of interest rates, based on the amount you deposit.
|$2,500-$9,999||0.50% Dividend Rate||0.501% Annual Percentage Yield|
|$10,000-$39,999||0.60% Dividend Rate||0.602% Annual Percentage Yield|
|>/= $40,000||0.70% Dividend Rate||0.702% Annual Percentage Yield|
Question: Is there a minimum amount to deposit for the money market account?
Answer: The money market can be drawn down to a zero balance, however, to earn dividends, you must have at least $2,500 on deposit.
Question: What determines the dividend rate paid on my money market account?
Answer: The average daily balance in the accounting period will determine the dividend rate paid on your account. We have three tiers of rates based on the account balance. Dividends rates for the tiers are determined by the Board of Directors and are subject to change.
Question: Are there limits on withdrawals from my money market account?
Answer: Withdrawals from the money markets must be a minimum of $500 or more.
Question: Is my money market account insured by the government?
Answer: As with all your deposits at Central Wisconsin Credit Union, they are fully insured up to, and in some instances, exceeding $250,000 by the NCUA, a government agency.