Get the flexibility, higher interest rates and safety of principal you need. With this account option, you have immediate access to move your funds into an IRA Share Certificate or another IRA custodian account without withdrawal penalties. Plus, you will earn higher yields based on a tiered rate.
The IRA Money Market Account serves as a flexible temporary account for:
- Accumulating IRA funds prior to placement in higher yielding term IRA Certificates
- Transferring from to another IRA custodian account
- The anticipation of mandatory annual IRA distributions
Money Market Account Rates
Effective Date: Wednesday, May 22, 2019
|Money Market (incl. IRA)**||$2,500 min to earn - $24,999||0.449%||0.45%|
|Money Market (incl. IRA)**||$25,000 - $49,999||0.548%||0.55%|
|Money Market (incl. IRA)**||$50,000 +||0.648%||0.65%|
*APY = Annual Percentage Yield. All dividend rates and APY may change at any time, as determined by GLCU Board of Directors. Fees could reduce earnings on the above accounts. Additional account information is provided in separate Account Disclosures.
**A Minimum of $2,500.00 is required to open the account. You must maintain a minimum average daily balance of $2,500.00 to earn the above stated dividends.
***APY = Annual Percentage Yield. Members must open a Companion Money Market (CMM) account. Minimum balance to open account is $10,000. To earn dividends on the CMM, the account must maintain a minimum average daily balance of $10,000 AND meet the 3% conditions of our FREE Checking account. If both requirements are met, the entire balance in the account will earn 1.50 % Annual Percentage Yield (APY). If the requirements are NOT met, the balance in the account of $10,000 or more will earn the current rate of lowest tier of the regular Money Market account. If the balance falls below $10,000, the CMM will not earn dividends. Money Market Accounts are limited to a total of 6 automated transfers by phone or by pre-authorized automated transfer to another GLCU account or third party, including Money Market Checks, each month. Does not include Business Money Market.