A Money Market Savings Account offers low-risk savings with high interest and immediate access to your funds, as often as 6 times per month.
Teachers Money Market account is not committed to any term. Your money is available when you need it, without penalty or hassle.
The minimum balance is $2,500. A $5 monthly charge will be assessed for the period of time the account remains under $500.
Dividends are compounded daily and are declared, credited, and paid monthly.
Unlike money market funds, Teachers offers the safety of an insured Money Market account. Your savings are federally insured up to $250,000 and backed by the National Credit Union Share Insurance Fund (NCUSIF).
As many as six (6) draft/check withdrawals from your account are permitted per month. Special drafts for this purpose are issued with your Money Market account package.
You can deposit to your Money Market account at any time, there is no minimum deposit amount.
Direct Deposit & Payroll Deduction
You can have your net pay or a portion of your net pay* deposited directly to your Money Market account. With Direct Deposit or Payroll Deduction you'll start earning dividends on payday.
* Subject to your employer's payroll capabilities
Your monthly statement will list all account activity, noting deposits, withdrawals and dividends earned.