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SCCU

MONEY MARKET DEPOSIT ACCOUNT   

OPENING YOUR MONEY MARKET ACCOUNT IS EASY

Complete an Account Change Card to add the Money Market Account to your existing SCCU Account.  Indicate to one of our Tellers the opening amount.  You can make additional deposits at any time by transferring funds from other SCCU Accounts, by sending, or bringing in deposits.  

A SECURE INVESTMENT 

Another key benefit to your Money Market account is that it is protected by National Credit Union Share Insurance Fund up to $100,000.  The Money Market Mutual Funds offered by non-depository institutions are not similarly insured.

PREFERRED TIERED RATES OF INTEREST 

Your SCCU Money Market earns a preferred tiered dividend (interest) rate.  Although the rates are based on current economic conditions, it will always be higher than the rate on SCCU’s Primary Share Savings account.  The dividend rate and annual percentage yield may change monthly at the discretion of SCCU’s Board of Directors.

EASY ACCESS TO YOUR MONEY 

Unlike a Certificate of Deposit, you can access the funds in your SCCU Money Market Account at anytime by:  

     Transferring funds from your Money Market to another SCCU account by using
Online Banking Telephone Teller, or in person. 

     Requesting a check through a SCCU Teller. 

     Writing a Money Market Account Check.

DIVIDEND PAYMENTS 

Dividends are calculated using a daily balance.  It then multiplies each daily amount by the applicable dividend rate.  Daily dividend amounts are then added to arrive at one total dividend for the period.  Dividends are paid quarterly.

CURRENT MONEY MARKET INTEREST RATES 

The Board of Directors determines these rates and they can change daily in accordance with current economic conditions.

Current Share Rate = 1.00%