Why a Money Market?
Consider the benefits of a Money Market account:
- Enjoy high earnings, unlimited transactions, and check writing privileges.
- The dividends are higher than those paid on a regular savings account, and with no maturity date.
- Convenient access to your money; via money market checks, or any combination of checks and transfers.
The advantages of a Money Market account make a difference when you need to tap into your funds to pay for that unexpected auto repair or spontaneous weekend getaway. There is no limit on the number of deposits into a Money Market account, and it is compatible with Direct Deposit services.
For Money Market accounts, there is a minimum initial deposit of $1000 required. If your account balance falls below your minimum deposit of $1,000, your account will not earn dividends until the balance returns to the required minimum. There are no hidden fees or PEFCU penalties for falling below the minimum required balance.