RBFCU offers two types of money market accounts: the Classic Money Market account and the Choice Money Market account.
For the Class Money Market account, a flat rate is offered across balances. With the Choice Money Market account, a blended rate structure applies. Here’s how APYs on the Choice Money Market break down:
- $2,500-$10,000: 1.00%
- $10,001-$25,000: 0.55%
- $25,000+: 0.40%
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.
There’s no monthly service fees for either account.
The Choice account gives savers the opportunity to earn a very high yield on a portion of their balance.
The minimum balance requirement is manageable.