Money Market Accounts

Money Market Accounts

A Money Market deposit account is an FDIC insured bank account that pays a competitive rate of interest without the need to lock up your money for a specific term. Check writing is available for added convenience.

Account Details

  • Minimum balance to open the account is $2,500.00.
  • A per item fee of $3.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer, telephone transfer or payment out of the account) in excess of six during the statement cycle.
  • A maintenance fee of $8.00 will be imposed every statement cycle if the daily balance falls below $2500.00 any day of the statement cycle.
  • You must maintain a minimum daily balance of $1,000.00 in the account each day to obtain the annual percentage yield.
  • Federal Regulations limit the number of transfers from a money market account to another account or to third parties by preauthorized, automatic, check, draft, debit card or telephone transfer to 6 per statement cycle.
  • If images of checks and deposits are requested, the following additional charges will apply: Images of front only: $3.00 per statement. Images of fronts and backs: $6.00 per statement.