Great Lakes Credit Union Money Market Account

Great Lakes Credit Union Money Market Account Review

Great Lakes Credit Union Money Market Account is offered by Great Lakes Credit Union, a credit union founded in 1938 and based in Bannockburn, IL. Great Lakes Credit Union Money Market Account are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.20%, 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 $5, but the fee is waived if you keep a minimum balance of $500.
• High minumum deposit. You must deposit a minimum of $2,500, which is high compared to most money market accounts.

Pros & Cons of Great Lakes Credit Union Money Market Account

Great Lakes Credit Union Money Market Account FAQ

Are money market accounts from Great Lakes Credit Union federally insured?

Yes, your 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 Great Lakes Credit Union money market rates?

Great Lakes Credit Union money market offers an APY starting at 0.05% and ranging up to 0.20% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.

What are the fees for Great Lakes Credit Union Money Market Account?

What is the minimum balance for Great Lakes Credit Union money market?

Minimum deposit of $2,500. You must make an initial deposit of at least $2,500 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $500.

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

What features and perks does Great Lakes Credit Union money market offer?

This account includes the following features:

• Fraud monitoring - Great Lakes Credit Union monitors transactions for potentially fraudulent activity.

What is the customer service phone number?

The customer service number for this business card is (800) 982-7850.

What is the support contact email?

The support contact email for this business credit card is memberservices@glcu.org.

How to open an account with Great Lakes Credit Union

• Visit the Great Lakes 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.