Savings
Money Market Account - Save Smart
Direct Federal's Money Market Account provides you with easy access to your funds while also earning interest. And, because your account is federally insured, your balances are protected up to $250,000.
You’ll also enjoy the benefits of free withdrawals by check and no monthly service fees.
A three-tiered pricing system for this account means the more you save, the more you earn. You can open an account with as little as $500. Total deposits into a Direct Federal Money Market Account are limited to $2,500,000.
The three tiers and corresponding Annual Percentage Yields are:
Effective March 1, 2010
| Tier | Balance | Annual Percentage Yield* (APY) |
|---|---|---|
| Tier 1 | $75,000 and more | 0.50% |
| Tier 2 | $25,000 - $74,999 | 0.50% |
| Tier 3 | $5 up to $24,999 | 0.25% |
* The Dividend Rates and APYs may change monthly at the discretion of the credit union. There are no limitations on the amount by which any rate may change. Fees that are imposed in connection with your account may reduce earnings. Interest will be computed on your accounts based on the balance at the end of each day and the rate in effect that day.
Federal law imposes limitations on the number of certain types of transactions on Money Market Accounts. In each monthly statement period, you may make no more than 6 transfers and withdrawals by means of automatic, telephone, or computer instructions. Your 6 monthly transactions may include up to 3 transactions by check payable to a thrid party. There are no limits on the number of transfers or withdrawals that you may make in person, at a branch or at an automated teller machine.
If you have any questions, please contact a Service Associate at 781.455.6500.
Open a Money Market Account today and start saving for tomorrow now.
