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  MembersFirst Credit Union Money Market

MembersFirst Credit Union Money Market

in Money Market Accounts from MembersFirst Credit Union · Member ncua

Unaffiliated

MembersFirst Credit Union Money Market

Unaffiliated

in Money Market Accounts from MembersFirst Credit Union · Member NCUSIF

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Highlights
APY (Annual Percentage Yield) 0.20% - 0.40%
APY Minimum Balance $100
Minimum Opening Deposit Starting at $100

MembersFirst Credit Union Money Market Review

MembersFirst Credit Union Money Market is offered by MembersFirst Credit Union, a credit union founded in 1953 and based in Decatur, GA. MembersFirst Credit Union Money Market is available in 1 state across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.40%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $100.
  • 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 $1,000.
  • Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of MembersFirst Credit Union Money Market
Pros Cons
  • High-interest yield.
  • Deposits are insured by the NCUA (up to $250K).
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • Deposit checks remotely.
  • No signup bonus.
  • Not FDIC-insured.
  • Only available in one state.
  • Monthly service charge.
MembersFirst Credit Union Money Market FAQ

Are money market accounts from MembersFirst Credit Union federally insured?

Yes, your MembersFirst Credit Union money market accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. 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 interest rates for MembersFirst Credit Union Money Market rates?

MembersFirst Credit Union Money Market offers an APY starting at 0.20% and ranging up to 0.40% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $100.

MembersFirst Credit Union Money Market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.20% - 0.40%

What are the fees for MembersFirst Credit Union Money Market?

This account charges a monthly maintenance fee of up to $5. You can avoid this fee by maintaining a balance of $1,000.

MembersFirst Credit Union will charge you a $5 fee if you exceed your maximum number of monthly transactions.

MembersFirst Credit Union will allow you to make up to 6 withdrawals or transactionss per month. That is also the maximum set by federal regulations.
MembersFirst Credit Union Money Market Fees
Fees Amount
Monthly Fee up to $5
Paper Statement Fee $3
Excess Transaction Fee $5

What is the minimum balance for MembersFirst Credit Union Money Market?

Minimum deposit of $100. You must make an initial deposit of at least $100 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 $100. You must keep the account balance above $100 to earn interest.

What features and perks does MembersFirst Credit Union Money Market offer?

This account includes the following features:

  • Fraud monitoring - MembersFirst Credit Union monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - MembersFirst Credit Union Money Market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.

How to open an account with MembersFirst Credit Union

  • Visit the MembersFirst 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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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 1 state
Georgia
Availabile in all of Georgia

Feature Breakdown

APY Minimum Balance $100
Minimum Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $100
Monthly Fee $0 - $5
NSF Fee $33
Paper Statement Fee $3
Bank Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • NCUA Member
  • Branch Access
APY (Annual Percentage Yield) 0.20% - 0.40%

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