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  State Farm Federal Credit Union Money Market Account

State Farm Federal Credit Union Money Market Account

in Money Market Accounts from State Farm Federal Credit Union · ncua

Unaffiliated

State Farm Federal Credit Union Money Market Account

Unaffiliated

in Money Market Accounts from State Farm Federal Credit Union · Insured by NCUA

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Highlights
APY (Annual Percentage Yield) 1.76%
APY Minimum Balance $5
Minimum Opening Deposit N/A

State Farm Federal Credit Union Money Market Account Review

State Farm Federal Credit Union Money Market Account is offered by State Farm Federal Credit Union, a credit union founded in 1936 and based in Bloomington, IL. State Farm Federal Credit Union 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 1.76%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $5.
Pros & Cons of State Farm Federal Credit Union Money Market Account
Pros Cons
  • Available in all 50 states.
  • Generous dividends.
  • Does not offer mobile check deposits.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Not FDIC-insured.
State Farm Federal Credit Union Money Market Account FAQ

Are money market accounts from State Farm Federal Credit Union federally insured?

Yes, your State Farm Federal 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 State Farm money market rates?

State Farm Federal Credit Union Money Market Account Rates and Terms
Rates Amount
APY 1.76%

State Farm money market offers an APY of up to 1.76% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $5. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What are the fees for State Farm Federal Credit Union Money Market Account?

State Farm Federal Credit Union Money Market Account does not charge a monthly maintenance fee.

State Farm Federal Credit Union Money Market Account Fees
Fees Amount
Monthly Fee $0
Paper Statement Fee N/A

What is the minimum balance for State Farm money market?

No minimum initial deposit. State Farm Federal Credit Union does not require a minimum initial deposit to open an account.

Interest rate minimum balance of $5. You must keep the account balance above $5 to earn interest.

What features and perks does State Farm money market offer?

This account does not seem to offer any of the features and perks we track.

What is the customer service phone number?

The customer service number for this business card is (888) 521-5209.

What is the support contact email?

The support contact email for this business credit card is Home.CU-Corporate.876A00@statefarm.com.

How to open an account with State Farm Federal Credit Union

  • Visit the State Farm 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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Availability

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

Feature Breakdown

APY Minimum Balance $5
Minimum Balance to Avoid Monthly Fee Starting at $0
Monthly Fee $0
APY (Annual Percentage Yield) 1.76%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly
Dividend Rate 1.75%

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