Last Updated: 04/18/2025
Inova Federal Credit Union Platinum Money Market Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
4.00%(Verified 06/21/2024)
Minimum Balance to Earn APY
$100,000
Minimum Opening Deposit
$100,000
Inova Federal Credit Union Platinum Money Market Account Review
Inova Federal Credit Union Platinum Money Market Account is offered by Inova Federal Credit Union, a credit union founded in 1942 and based in Elkhart, IN. Inova Federal Credit Union Platinum 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 4.00%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $100000.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- High minumum opening deposit. You must deposit a minimum of $100,000, which is high compared to most money market accounts.
Pros & Cons of Inova Federal Credit Union Platinum Money Market Account
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Inova Federal Credit Union Platinum Money Market Account FAQ
Are money market accounts from Inova Federal 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 Inova Federal Credit Union Platinum Money Market Account rates?
| Rates | Amount |
| APY | 4.00% |
Inova Federal Credit Union Platinum Money Market Account offers an APY of up to 4.00% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $100000. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
What are the fees for Inova Federal Credit Union Platinum Money Market Account?
Inova Federal Credit Union Platinum Money Market Account does not charge a monthly maintenance fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $2.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $29.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for Inova Federal Credit Union Platinum Money Market Account?
Minimum deposit of $100,000. You must make an initial deposit of at least $100,000 to open this account.
Interest rate minimum balance of $100,000. You must keep the account balance above $100,000 to earn interest.
What features and perks does Inova Federal Credit Union Platinum Money Market Account offer?
This account includes the following features:
- Mobile Banking Services - Inova Federal Credit Union Platinum Money Market Account allows you to manage your money through online banking and a dedicated mobile app.
- Nationwide ATM network - Inova Federal Credit Union Platinum Money Market Account allows you to access your money from an ATM, a convenient feature only a few offer.
What is the customer service phone number?
The customer service number for this account is (574) 294-6553.
What is the support contact email?
The support contact email for this business credit card is socialmedia@inovafcu.org.
How to open an account with Inova Federal Credit Union
- Visit the Inova Federal 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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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM