Money Market Accounts

You want to come out ahead. We're with you every step.

You want great rates. You need flexibility. You got it.  

Money market accounts traditionally combine better rates of return with easy access to your funds. At MECU, we kick it up a notch.

The MECU money market account offers you high-earning dividends with exceptional convenience, liquidity and flexibility. Plus, with our tiered rate structure, you’ll earn even better dividends on higher balances.

Other advantages of the MECU money market account:

  • No required opening minimum balance
  • No service fees (if you maintain a balance of $2,500 or more)
  • Earn competitive dividends
  • Make unlimited deposits
  • Automatic deposits via direct deposit, automatic transfers and wire transfers  
  • Six free monthly withdrawals of at least $500 each
  • 24/7 online access to your accounts 
  • Your savings are federally insured by the National Credit Union Administration up to $250,000. Plus, $250,000 of additional coverage is provided through Excess Share Insurance, a subsidiary of American Share Insurance, the nation’s largest private deposit insurer.

For a list of our fees, please check our fee schedule.

Account TypeMinimum To Earn APYCompound FrequencyAPYNational Average APY
Savings$100monthly

0.13%

0.12%
Money Market$1
$25,000
$100,000
monthly

0.13%
0.20%
0.28%

0.12%
0.19%
0.26%
IRA Market$1
$25,000
$100,000
monthly

0.13%
0.20%
0.28%

0.29%
*
*

Health Savings Account$1
$25,000
$100,000
monthly

0.13%
0.20%
0.28%

*
*
*

Holiday Savingsnonemonthly

0.10%

*
Vacation Savingsnonemonthly

0.10%

*

APY -- Annual Percentage Yield (the yield you earn on a deposit over a year)

* No national averages are shown for these products/tiers due to the fact that this offering is not commonly available at other financial institutions.

Savings insured up to $250,000, and Individual Retirement Accounts are separately insured to $250,000, by the National Credit Union Administration, a U.S. government agency. An additional $250,000 of coverage is provided by Excess Share Insurance. Federal regulations prohibit the payment of dividends in excess of available earnings. All dividends are calculated using the average daily balance method, compounded monthly and paid monthly. Any deposits or withdrawals will affect the actual APY earned. Fees may reduce earnings. These are variable rate accounts; rates are subject to change without notice.

Savings account dividend rates are based on the credit union’s earnings at the end of the dividend period, and thus cannot be declared in advance. Vacation and holiday savings withdrawals are limited to program parameters.

Money market accounts have a withdrawal minimum of $500. On all MECU money market accounts, you are permitted to make up to six preauthorized, automatic, telephonic, audio response or Internet transfers to another of your accounts, or to the account of any other person or organization, during the calendar month. If you exceed these limitations, your account may be subject to a fee or be closed. In addition, a $10.00 fee may be assessed for each withdrawal in excess of six per calendar month, regardless of type. These withdrawals include preauthorized, automatic, telephonic, audio response, Internet transfers, transfers from your account to pay a loan with us, withdrawals by check made directly to you, in person withdrawals, withdrawals by mail or withdrawals made by ATM. Monthly minimum balance fee of $10 is assessed on account balances less than $2,500. Fees may reduce earnings. These are variable rate accounts; rates are subject to change without notice.

Compare money market rates

Compare
Financial InstitutionAPY
MECUTo see APYs, enter your expected daily balance and select compare.
Bank of America
Chase
Citibank
Wells Fargo

Competitor APYs are for Illinois only and are based on mybanktracker.com. All rates are effective as of June 18, 2013.



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