All You Need to Know About Money Market Accounts

Money market accounts offer many convenient features of checking accounts, with an attractive rate of return to help your money grow.

Here’s all you need to know about money market accounts.

High interest rates

Firstly, money market accounts offer a rate of return that surpasses your typical savings account. Here at T & I Credit Union, our APY for money market accounts is as much as 1.00%APY* as of 12/21. A money market account can be the perfect way to give your short-term savings their best chance at growth.

Increased flexibility 

While not intended to cover everyday expenses, money market accounts do offer increased flexibility over savings accounts. Depending on your financial institution, the funds in your money market account may be accessible via paper check and/or debit card. Additionally, most banks and credit unions also allow transfers from money market accounts to checking accounts.

It’s important to note that most financial institutions do place limits on the number of money market transactions you can make during a month. If you open a money market account at T & I Credit Union, you’ll be allowed [up to x/unlimited] transactions each statement cycle.


The funds in your money market account at T & I Credit Union are insured [by the NCUA up to $250,000. This means you can keep a large sum of money in your account with less risk of losing it to a market crash or a poor choice of investment.

Minimum balance requirements

Most financial institutions require a minimum initial deposit for money market accounts and a minimum balance to be kept in the account at all times. Here at T & I Credit Union, you can open an account with as little as $25. [Also, we won’t charge a penalty or maintenance fee for a money market account, as long as there is a minimum balance of $25 in the account at all times.]

Ideal uses for money market accounts

In conclusion, Money market accounts can be ideal for expected occasional expenses, or for the unexpected emergency that can easily send a lesser-prepared individual into debt.

Most popular uses for funds kept in money market accounts:

  • Tuition payments
  • Emergency household repairs
  • Unexpected medical fees
  • Purchasing a new car
  • Quarterly tax payments
  • Annual vacation

Are you ready to start saving big? Open a money market account at T & I Credit Union today!

* APY = Annual Percentage Yield, is valid as of [12/06/2021] and is subject to change without notice.

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Your Turn:

Do you have a money market account? Tell us about your favorite features in the comments.

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