5 Reasons To Open A Money Market Account
Posted August 21, 2023
Are you looking for a place to park your savings? Do you need an account that blends accessibility with a high rate of return?
Look no further! Bay Federal’s Money Market Advantage accounts offer convenient features with an attractive interest rate to help your money grow. You’ll earn a handsome return on your money without the risk of the stock market or the restrictions of a certificate account.
Most Money Market accounts have a minimum balance requirement. Here at Bay Federal Credit Union, you can open a Money Market account with as little as $0.01!
Here are 5 reasons to open a Money Market account:
- High Interest Rates – Money Market accounts offer a rate of return that surpasses your typical savings account. Our Money Market Advantage accounts offer the highest dividends paid on your first $2,500.
Give your money its best chance at growth! - Security – Funds in your Money Market are insured by the NCUA up to $250,000. This means you can keep a large sum of money in your account without the risk of losing it to a market crash or a poor choice of investment.
- Accessibility – Money Market accounts have no maturity date. You are free to access the funds in your account at any time without penalty.
Because of their accessibility, Money Market accounts are perfect for those large, occasional expenses like tuition payments, emergency household repairs, and unexpected medical fees. - Account benefits – Like every account here at Bay Federal Credit Union, your Money Market Advantage account comes with loads of benefits and attractive features. There is no monthly maintenance charge for your Money Market account, and we won’t charge you a fee for accessing your money from a Bay Federal or CO-OP ATM.
If you’ve got a question or concern with your account, we’re always here to help. You can drop in for a chat or contact us by phone at 831.479.6000 or toll-free at 888.4BAYFED, option 3. A Member Services Representative will be happy to assist you! - Personal checks and debit card access – Money Market Advantage accounts offer flexibility. In fact, you’re free to use the funds to make payments by writing personal checks or using your debit card.
Are you ready to start saving big? Open a Money Market Advantage account at Bay Federal Credit Union today!
Categories: FinancialAdvice
