Last Updated: 04/18/2025
Transit Employees FCU Paramount Money Market Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.25% - 4.07%(Verified 06/21/2024)
Minimum Balance to Earn APY
$0.01
Minimum Opening Deposit
$0
Transit Employees FCU Paramount Money Market Account Review
Transit Employees FCU Paramount Money Market Account is offered by Transit Employees Federal Credit Union, a credit union founded in and based in Washington, DC. Transit Employees FCU Paramount 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 4.07%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $0.01.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account.
Pros & Cons of Transit Employees FCU Paramount Money Market Account
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Transit Employees FCU Paramount Money Market Account FAQ
Are money market accounts from Transit Employees 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 Transit Employees FCU Paramount Money Market Account rates?
Transit Employees FCU Paramount Money Market Account offers an APY starting at 0.25% and ranging up to 4.07% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.25% - 4.07% |
What are the fees for Transit Employees FCU Paramount Money Market Account?
Transit Employees FCU Paramount Money Market Account does not charge a monthly maintenance fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $2.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $35.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for Transit Employees FCU Paramount Money Market Account?
No minimum initial deposit. Transit Employees Federal Credit Union does not require a minimum initial deposit to open an account.
Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.
What features and perks does Transit Employees FCU Paramount Money Market Account offer?
This account includes the following features:
- Mobile Banking Services - Transit Employees FCU Paramount Money Market Account allows you to manage your money through online banking and a dedicated mobile app.
- Nationwide ATM network - Transit Employees FCU Paramount 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 (301) 289-9800.
How to open an account with Transit Employees Federal Credit Union
- Visit the Transit Employees 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 - 3:00PM
Tuesday
9:00AM - 3:00PM
Wednesday
9:00AM - 3:00PM
Thursday
9:00AM - 3:00PM
Friday
9:00AM - 3:00PM
Saturday
Closed