Money Market Accounts
A money market account provides much of the flexibility of a savings account, but with a higher dividend rate. Money Market Accounts can also be set up as an IRA account. If you're interested in setting up a Money Market Account, please call 1.800.444.5858, or visit your local branch.
Features include:
- $2000 minimum balance to open.
- No monthly fees.
- Special tiered rates as your balance grows.
- No terms or penalties for early withdrawal.
- Unlimited in-person withdrawals or transfers.
- Unlimited deposits
- Up to 6 electronic withdrawals per month.
- Dividends are compounded daily and paid monthly.
With the current media coverage on troubled banks, you may be wondering if your accounts are secure at the credit union. The short answer is, yes!
Not only is our credit union sound and stable, every credit union in Oregon is federally insured by a fund that is backed by the full faith and credit of the U.S. government. The National Credit Union Share Insurance Fund (NCUSIF) insures accounts to $250,000 per account (with additional coverage of up to $250,000 for certain retirement accounts), just as the FDIC does for banks. For more information on federal share insurance click here.
Update 7/22/2010: President Barack Obama yesterday signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. Included in this sweeping legislation are provisions making permanent the current $250,000 maximum federal deposit insurance level, which had been temporary until December 31, 2013.
Click here to print our rates and disclosures. Click here to review our service charges.
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