Maybe you already have a savings account. So why bother with a money market?
Think of money market accounts like a more mature approach to saving money. While the minimum opening balance is higher than most savings accounts, the interest tends to be better in return. If you’re looking for a place to store your money for the long term, a money market account might be right for you.
- Minimum opening balance: $2,500.00
- If the balance falls below $2,500.00, the interest rate will revert to the current passbook savings rate.
- Transactions that are not completed in person, such as the lobby or drive thru, are limited to 6 transactions per month, according to federal government regulation. This includes online and phone transfers.
- Interest earnings are calculated on the total daily balance and credited weekly.
Note: Signing up for e-Statements will automatically discontinue you from getting paper statements. While statements are available in online banking, you must fill out this form to discontinue your paper statement. Statement type is on an account by account basis, make sure you put every one of your accounts on the form when you sign up.
To open a money market account, stop in and talk with Christine or Kristin. Not in town today? Call 712-624-8686 or fill out our contact form and we’ll get the paperwork started.