Open a high interest earning money market account

A money market account is an effective way to earn interest on your savings. These interest-yielding bank accounts are known for their liquidity, allowing you to access funds easily and quickly. They provide the benefits and features of both savings and checking accounts. 

The Focus Federal Credit Union money market accounts offer competitive interest rates that compound, outperforming traditional savings accounts. You can add money at any time and access funds through a debit card or limited check-writing privileges. Accounts are ideal for short-term goals rather than long-term financial planning.

Money market accounts offer a flexible and powerful tool for managing your financial goals. One of the main benefits of an account is capital preservation. 

Designed to protect the principal investment, you benefit from:

• Higher Interest Rates. Like savings accounts, they earn interest, but their ability to invest in options like CDs and government securities means you earn a higher interest rate.
• Accessibility to Funds. At TFFCU, you can make up to six penalty-free withdrawals from your account during each statement cycle. You can withdraw your money without incurring additional charges, giving you the necessary control.
• Fund Security. The National Credit Union Administration (NCUA) insures money market accounts for up to $250,000.

Focus Federal Credit Union provides money market accounts for personal savings, offering easy access to your funds when you need them.

• Personal money market accounts allow you to cover occasional expenses such as tuition payments, emergency funds, and unexpected medical fees.

At Focus Federal Credit Union, you can open up a money market account online or at any branch location with a $2,500 minimum deposit. 

Then, you can take advantage of:

• Free online banking
• Free online bill pay
• Remote deposits
• E-Statements
• Six withdrawals or transfers per month
• Tiered interest rates
• Unlimited deposits
• Personalized checks

What’s the difference between a money market account and a money market mutual fund account?

Money market accounts provide the benefits and features of savings and checking accounts. They offer a flexible approach to managing your finances. You earn interest on your money, and you can write checks and withdraw funds. 

Money market mutual fund accounts have higher minimum deposit or balance requirements than regular savings accounts. Account purchases and transfers are typically limited to six per month. 

What’s the difference between a money market account and a savings account?

Money market accounts are a type of savings account offering higher interest rates. Interest rates are variable, meaning they rise or fall with inflation, and are compounded — yearly, monthly, or daily — which impacts your return. Unlike traditional savings accounts, money market accounts also offer check writing and debit card access. 

Is my money safe in a money market account?

Money market accounts are insured by the National Credit Union Administration for up to $250,000 or $500,000 for joint accounts.