RBFCU offers two types of money market accounts: the Classic Money Market account and the Choice Money Market account.
For the Classic Money Market account, the same APY is offered on balances of $2,500 or more. With the Choice Money Market account, a blended rate structure applies. At the time of Bankrate’s review, the $2,500-$10,000 tier earned the account’s highest APY, followed by the $10,000-$25,000 tier. Balances of $25,000 or more earned the lowest APY, less than half of what the top tier earned.
RBFCU’s top-tier APY was very competitive at the time of Bankrate’s review.
A $2,500 minimum balance is required to open each money market account, and neither charges a monthly service fee. The credit union doesn’t offer check writing with its money market accounts.
No monthly service fee is charged for either account.
The Choice account gives savers the opportunity to earn a high yield on a portion of their balances.
The minimum balance requirement is manageable, compared with some other money market accounts.