Money Market

5 Reasons To Open A Money Market Account

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! HEFCU’s Money Market accounts offer convenient features with an attractive rate of return to help your money grow. You’ll earn a handsome return on your money without the risk of the stock market or the restrictiveness of a Share Certificate account.

Most Money Market accounts have a minimum balance requirement. Here at HEFCU, you can open a Money Market account with as little as $5,000. As long as you keep your balance from falling below $5,000, there won’t be any fees or penalties.

Here are 5 reasons to open a Money Market account:

1.) 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.

2.) Accessibility – Money Market accounts have no maturity date. You are free to access the funds in your account at any time, typically without penalty. If you have a HEFCU Money Market account, you can make up to 6 withdrawals from your account during any month.

Because of their accessibility, Money Market accounts are perfect for those large, occasional expenses like tuition payments, emergency household repairs and unexpected medical fees.

3.) High interest rates – Money Market accounts offer a rate of return that surpasses your typical savings account. Here at HEFCU, our APY for Money Market accounts is as high as 0.40% (as of 10/01/2018).

Give your money its best chance at growth!

4.) Account benefits – Like every account here at HEFCU, your Money Market account comes with loads of benefits and attractive features.  There is no monthly maintenance charge for your Money Market account (as long as your balance does not fall below $5,000). You also are allowed 8 free withdrawals per month via the 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, give us a shout-out at hefcu@hefcu.com, or contact us by phone at 609-951-0700. A member service representative will be happy to assist you.

5.) Personal checks and debit card access – Money Market 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 account (new window/tab) at HEFCU today!