Money Market Accounts
Money market accounts help you save with flexibility
A money market account offers a higher rate than a regular savings account with a minimum balance requirement of $2,500. Dividends are compounded and paid monthly. To earn the stated Annual Percentage Yield (APY), you must meet the minimum balance requirement for each tier:
- Tier One: $2,500 minimum balance
- Tier Two: $20,000 minimum balance
- Tier Three: $100,000 minimum balance
Deposits may be made at any time. Plus there are no maturity date restrictions and up to six pre-authorized, automatic or electronic transfers may be made to another Credit Union account in any month. Up to three of these six transfers may be made by check. However, there is no ATM access for money market accounts. A money market account can also be opened as an IRA.
Your savings are insured up to at least $250,000.
Frequently Asked Questions
You can open an account at Educational Systems FCU by visiting a branch or mailing in a paper application to PO Box 179, Greenbelt, MD 20768-0179. You will need to provide a photo identification and verification of address.
Keep in mind that once you’re a member, you’re always a member, even if you leave your place of employment. Membership is based on your employer or family relationship at the time of Credit Union enrollment and maintaining the required minimum balance.
Log in to Digital Banking. Click on “Reorder Checks” from the left side bar menu. This will bring you to Harland Clark’s website. Please note that the following types of check orders need to be requested by speaking to a Credit Union employee:
Initial checks
Orders that haven’t been placed within the past four years
Checks for Star Members
Checks for Money Market Accounts or Home Equity Lines of Credit (HELOC)
