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  Educators Credit Union IRA High Yield Money Market Account

Educators Credit Union IRA High Yield Money Market Account

in Money Market Accounts from Educators Credit Union · ncua

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Educators Credit Union IRA High Yield Money Market Account

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in Money Market Accounts from Educators Credit Union · Insured by NCUA

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Highlights
APY (Annual Percentage Yield) 0.06% - 0.19%
APY Minimum Balance $2,500
Minimum Opening Deposit Starting at $25

Educators Credit Union IRA High Yield Money Market Account Review

Educators Credit Union IRA High Yield Money Market Account is offered by Educators Credit Union, a credit union founded in 1937 and based in Racine, WI. Educators Credit Union IRA High Yield Money Market Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.19%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $2500.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $1,000.
  • Small minimum initial deposit. You only need $25 to open an account.
Pros & Cons of Educators Credit Union IRA High Yield Money Market Account
Pros Cons
  • Available in all 50 states.
  • Generous dividends.
  • Does not offer mobile check deposits.
  • Insured by NCUA.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Not FDIC-insured.
  • Monthly service charge.
Educators Credit Union IRA High Yield Money Market Account FAQ

Are money market accounts from Educators Credit Union federally insured?

Yes, your Educators Credit Union money market accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What are the dividends for Educators Credit Union IRA High Yield Money Market Account rates?

Educators Credit Union IRA High Yield Money Market Account offers an APY starting at 0.06% and ranging up to 0.19% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.

Educators Credit Union IRA High Yield Money Market Account Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.06% - 0.19%

What are the fees for Educators Credit Union IRA High Yield Money Market Account?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $1,000.
Educators Credit Union IRA High Yield Money Market Account Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee N/A

What is the minimum balance for Educators Credit Union IRA High Yield Money Market Account?

Minimum deposit of $25. You must make an initial deposit of at least $25 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $1,000.

Interest rate minimum balance of $2,500. You must keep the account balance above $2,500 to earn interest.

What features and perks does Educators Credit Union IRA High Yield Money Market Account offer?

This account includes the following features:

  • Fraud monitoring - Educators Credit Union monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - Educators Credit Union IRA High Yield Money Market Account allows you to manage your money through online banking and a dedicated mobile app.

How to open an account with Educators Credit Union

  • Visit the Educators Credit Union website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $2,500
Minimum Balance to Avoid Monthly Fee Starting at $1,000
Minimum Opening Deposit Starting at $25
Monthly Fee $0 - $10
NSF Fee $10
Account Features
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Insured by NCUA
  • Branch Access
APY (Annual Percentage Yield) 0.06% - 0.19%
Dividend Rate 0.06% - 0.19%

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