Opening a money market account with PSECU is easy.
If you're already a member:
- Log into online banking.
- Click on the menu in the top left corner.
- Under Accounts, click Add Product.
MONEY MARKET ACCOUNTS
The more you save, the more you can earn with our tiered rates.
Looking to give your savings a boost? Our money market accounts are the perfect option.
What is a Money Market Account?
A money market account is a savings account that offers increased dividends* in exchange for maintaining a higher minimum balance, so your savings can add up faster than in a traditional savings account.
Our money market accounts offer:
- Dividends that grow alongside your balance.
- Increased earnings on as little as $500 in your account.
- No deposit, withdrawal, or transfer limitations, so you can make withdrawals without penalty.
- Federally insured by the NCUA.
Plus, our tiered rate offering means that the more you save, the more you can earn in dividends. You can see the tiers and associated rates here.
Benefits of Our Money Market Accounts
Flexibility
Whatever your financial goals are, a money market account can help you reach them. Some common uses include an emergency fund, saving for a home down payment or other large purchase, and planning for retirement.
Accessibility
There are no withdrawal or transfer restrictions, which means you can access your cash whenever you need it through our 24/7 digital banking channels.
Peace of Mind
Having extra cash set aside helps you avoid going into debt if unexpected expenses or emergencies occur.
| Description | APY* | Dividend Rate |
|---|---|---|
| Balances of $500.00 to $4,999.99 | 2.50% | 2.47% |
| Balances of $5,000.00 to $19,999.99 | 2.50% | 2.47% |
| Balances of $20,000.00 to $49,999.99 | 2.50% | 2.47% |
| Balances of $50,000.00 to $99,999.99 | 2.75% | 2.72% |
| Balances of $100,000.00 and over | 3.00% | 2.96% |
Tips & Tools to Help You Save
Want your savings to skyrocket? Here are our best tips to help you on your way.
- Make the most of your money market account.
How Can You Increase Your Savings with a Money Market Account? - Use a money market account to prepare for the unexpected.
Strategies for Building Your Emergency Fund - Learn about the different savings options we offer.
Different Types of Savings Accounts
Frequently Asked Questions
If you're not a member yet, you can add a money market account after you join PSECU.
To join PSECU and then add a money market account:
- Click here to join PSECU.
- Follow the prompts on the screen to join PSECU.
- Once you're a member, log into online banking, open the menu in the top left corner, click on Account, and then select Add Product.
You must be a PESCU member to open a money market account with us. There are no minimum balance requirements to open a money market account; however, you'll only earn dividends if you meet the minimum balance requirement.
Our external account transfer service allows you to move money into your PSECU account from an account at another financial institution. There's a short verification process to set up transfer capabilities from an external account. Once that's completed, you can schedule an external account transfer into PSECU at any time using online banking or our mobile app.
If your daily account balance falls below $500, you won't earn dividends until your daily balance again reaches $500.
If your balance falls below the minimum of a tier, you'll earn dividends at the rate of the tier that matches your account balance. For example, if you move from the third tier to the second tier, you’ll earn dividends at the rate associated with each tier for the days that your balance fell within those tiers.
No, you cannot access the funds in your money market account through an ATM. However, you can use digital banking to move money within your account 24/7, allowing you to instantly transfer funds to your Regular savings account or checking account to be accessed at an ATM.
When you use your debit card, a PIN is needed for access to ATMs and point-of-sale purchases. This PIN is selected by you and, for security purposes, is not kept on record by PSECU. If you’ve exceeded your PIN tries (three consecutive incorrect attempts), please contact Card Services at 800.237.7328 for assistance.