Skip to content
  • Join PSECU
  • Refer a Friend
  • Rates
  • Find an ATM
  • Resources
  • Support
PSECU Logo
  • Explore Our Rates

    See today's checking, savings, certificate and individual retirement account (IRA) interest rates

    Have questions? Browse our FAQs
    • Account Types:
      • Checking Accounts
      • Savings Accounts
      • Money Market Accounts
      • Certificates
      • Individual Retirement Accounts (IRAs)
    • Banking Services:
      • For College Students
      • For Teens & Parents
      • For Youth & Parents
      • For Businesses
    • Quick Links:
      • Calculators
        Estimate payments, set savings goals and more
      • Overdraft Services
        Check out PSECU's approach to overdraft services and fees
      • Understanding Money Market Accounts
        Learn how you can increase your savings with greater dividends
  • Explore Our Rates

    See today’s credit card rates

    Have questions? Browse our FAQs
    • Card Types:
      • Classic Card
      • Founder's Rewards Card
      • Penn State Alumni Cards
      • Secured Visa® Card
      • Business Credit Cards
    • Card Services:
      • Balance Transfers
      • Card Comparison Guide
    • Quick Links:
      • Calculators
        Estimate payments, set savings goals and more
      • Dispute a Credit Charge
        Report unauthorized transactions on your card
      • Is a Balance Transfer Right for Me?
        Find out how consolidating can simplify your finances
  • Explore Our Rates

    See today’s auto loan, home equity product, mortgage, and personal loan rates

    Have questions? Browse our FAQs
    • Home & Auto:
      • Mortgages
      • Home Equity
      • Auto Loans
      • Recreational Vehicles
    • Personal & Business:
      • Personal Loans
      • Student Loans
      • Business Loans
    • Quick Links:
      • Calculators
        Estimate payments, set savings goals and more
      • Paying Your Loan
        See your loan payment options
      • Debt Consolidation
        Save money, simplify your budget and reduce stress
  • Become a Member

    Explore PSECU member benefits and learn about eligibility

    Have questions? Browse our FAQs
    • What We Offer:
      • Investing
      • Insurance
      • Auto Warranty
      • Medicare Insurance
      • Estate Planning
    • Quick Links:
      • Set Up a Free IRA in Pennsylvania
        Check out this six-step guide to start reaping tax benefits
      • Missing Out on Insurance Savings?
        Get tips on how to spot savings in your insurance coverage
  • Become a Member

    Explore PSECU member benefits and learn about eligibility

    Have questions? Browse our FAQs
    • Is PSECU Right for You?:
      • What's Digital-First Banking?
      • How We Serve Our Members
      • All Member Services
    • Quick Links:
      • Earn $300*!
        Open a new member account with PSECU and you can earn $300* in bonus cash when you meet promo requirements!
      • New Member Support
        Get the guidance you need to take control of your account
      • PSECU in the Community
        We’re not just about finances - we’re about making an impact.
Login
PSECU Logo
Login
  • Checking & Savings
      • Checking Accounts
      • Savings Accounts
      • Money Market Accounts
      • Certificates
      • Individual Retirement Accounts (IRAs)
      • For College Students
      • For Teens & Parents
      • For Youth & Parents
      • For Businesses
      • Calculators
        Estimate payments, set savings goals and more
      • Overdraft Services
        Check out PSECU's approach to overdraft services and fees
      • Understanding Money Market Accounts
        Learn how you can increase your savings with greater dividends
    Explore Our Rates

    See today's checking, savings, certificate and individual retirement account (IRA) interest rates

    Have questions? Browse our FAQs
  • Credit Cards
      • Classic Card
      • Founder's Rewards Card
      • Penn State Alumni Cards
      • Secured Visa® Card
      • Business Credit Cards
      • Balance Transfers
      • Card Comparison Guide
      • Calculators
        Estimate payments, set savings goals and more
      • Dispute a Credit Charge
        Report unauthorized transactions on your card
      • Is a Balance Transfer Right for Me?
        Find out how consolidating can simplify your finances
    Explore Our Rates

    See today’s credit card rates

    Have questions? Browse our FAQs
  • Loans
      • Mortgages
      • Home Equity
      • Auto Loans
      • Recreational Vehicles
      • Personal Loans
      • Student Loans
      • Business Loans
      • Calculators
        Estimate payments, set savings goals and more
      • Paying Your Loan
        See your loan payment options
      • Debt Consolidation
        Save money, simplify your budget and reduce stress
    Explore Our Rates

    See today’s auto loan, home equity product, mortgage, and personal loan rates

    Have questions? Browse our FAQs
  • Investing & Insurance
      • Investing
      • Insurance
      • Auto Warranty
      • Medicare Insurance
      • Estate Planning
      • Set Up a Free IRA in Pennsylvania
        Check out this six-step guide to start reaping tax benefits
      • Missing Out on Insurance Savings?
        Get tips on how to spot savings in your insurance coverage
    Become a Member

    Explore PSECU member benefits and learn about eligibility

    Have questions? Browse our FAQs
  • About PSECU
      • What's Digital-First Banking?
      • How We Serve Our Members
      • All Member Services
      • Earn $300*!
        Open a new member account with PSECU and you can earn $300* in bonus cash when you meet promo requirements!
      • New Member Support
        Get the guidance you need to take control of your account
      • PSECU in the Community
        We’re not just about finances - we’re about making an impact.
    Become a Member

    Explore PSECU member benefits and learn about eligibility

    Have questions? Browse our FAQs
  • Join PSECU
  • Refer a Friend
  • Rates
  • Find an ATM
  • Resources
  • Support
Routine maintenance is scheduled for 12 AM, Sunday March 16, 2025, and will take several hours to complete. During this timeframe, members will not be able to access digital banking, membership or loan applications, or our call center IVR menu. We apologize for any inconvenience.
We apologize for the inconvenience, but our application for membership is currently unavailable. We are currently working to resolve the issue.
You’re Leaving PSECU's Site

 
 

Select “Proceed” to continue to , or close this window to return to PSECU.com.

Proceed
  1. Back to Home
  2. Resource Center
  3. Savings
  4. How Can You Increase...
Article
3 Minute Read

How Can You Increase Your Savings with a Money Market Account?

Share on email Share on facebook Share on linkedin Share on twitter

If you’re looking to give your savings a boost, a money market account is a great option. If you’re like many people, however, you may not be familiar with what a money market account is, how it can benefit you, or how to open one.

We cover all of this and more below.

What is a Money Market Account?

A money market account is an account that’s designed to help you increase your savings. You can earn greater dividends than you would using a traditional savings account.

A higher dividend rate helps you reach your savings goals faster. You can also get peace of mind. If an unexpected expense arises, you'll have the cash to cover it, rather than needing to take on new or additional debt.

What Can I Use a Money Market Account For?

You can use a money market account to save for any of your financial goals. Many of our members use their money market accounts as a holding place for their emergency funds, while others use them to set aside savings for a large purchase or a down payment on a home or car. There are also many people who use money market accounts to pad their retirement savings, while keeping their money in a liquid, accessible state.

Our money market accounts give you easy access to your cash, making them a flexible savings option for any of your financial goals.

How Do I Open a Money Market Account with PSECU?

Opening a money market account with us is easy!

If you’re already a member, it just takes a few simple steps:

  • Log into digital banking.
  • Open the Menu in the top left corner.
  • Select Add a Product under Accounts, and follow the prompts on the screen.

If you’re not a member, you're likely eligible to join. Then, you can follow the steps above.

What is the Minimum Balance Requirement for a Money Market Account?

The minimum balance required for a money market account can vary between financial institutions. However, we aim to make these accounts and their benefits accessible to as many members as possible by setting a low minimum balance requirement of just $500 to earn dividends.

What is the Dividend Rate on a Money Market Account?

The dividends you earn from a money market account will vary by financial institution. We offer a tiered dividend structure, which means that the more you save, the more you can earn. You can learn more about our tiers and current dividend rates here.

Can I Access My Money While It’s in a Money Market Account?

Yes! One of the biggest perks of our money market accounts is that you maintain 24/7 access to your cash through our digital banking channels. Plus, there are no withdrawal or transfer restrictions.

How Do I Move Money into My Money Market Account from My Other PSECU accounts?

If you want to move money into your PSECU money market account from your other PSECU accounts, it’s easy! Simply log into your account, select Transfer, and follow the prompts on the screen.

How Do I Move Money into My Money Market Account from an External Account?

If you want to move money into your PSECU money market account from an account at another financial institution, you’ll need to first set up the external transfer capability. Have your routing and account numbers from your other financial institution(s) handy and then follow the simple steps below.

  1. Once logged into your account, go to the Transfer area, select External Accounts, and then select Add External Account. Enter the other financial institution’s routing number, your account number, and the type of account. PSECU will send a small amount of money to the other financial institution to begin the verification process. It can take up to three business days for you to see the small deposit in the account you have at your other financial institution. 
  1. Once the small deposit is in your account at your other financial institution, you’ll need to verify the deposit and enter that amount by selecting the Verify Account button in the external account details section. 
  1. After you’ve successfully verified the small deposit, you may go to the Transfers area and schedule an external account transfer. Once you add your external account and complete the verification process, you won’t need to do it again unless you remove the external account and want to add it again.

How Do I Make the Most of a Money Market Account?

There are many things you can do to maximize your savings in a money market account. Our top three suggestions are below.

  • Automate your savings. Have a portion of your direct deposit(s) transferred directly to your money market account each month.
  • Move funds from other accounts. Not happy with the dividends you're earning at another financial institution? Move your money to PSECU and then transfer it into your money market account to increase your savings.
  • Set a goal to reach the next tier. Having a clear vision of what you want to achieve can help you stay on track. Map out your path to your savings goal – whether you're building an emergency fund, saving for a large purchase or a home down payment, or planning for retirement.  

Launch Your Savings with a Money Market Account Today

Are you ready to give your savings a boost? Open a money market account, or increase your balance in your existing one, to launch your savings today.

For more tips on how to increase your savings, visit the Savings section of our blog.

Become a Member

The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

By: PSECU
Need to talk to us directly?
800.237.7328
Routing #: 231381116
  • Facebook
  • LinkedIn
  • Twitter
  • Instagram
  • Pinterest
  • YouTube
Awards Designations
  • Get to Know Us:
    • What's Digital-First Banking?
    • How We Serve Our Members
    • Financials
    • PSECU for Employers
    • Careers We're Hiring!
    • Resource Center
    • PSECU in the Community
  • Quick Links:
    • Rates
    • Calculators
    • Downloadable Forms
    • Become a Member
    • Refer a Friend
  • Contact & Support:
    • Support
    • Browse FAQs
    • Resume an Application
    • Find an ATM
    • Contact Us
  • Download the App:
    • App Store
    • Play Store
  • Sitemap
  • Disclosures & Agreements
  • Terms of Use
  • Fraud Prevention
  • Privacy
  • © 2025 PSECU. All Rights Reserved.
  • NCUA Insured by NCUA
  • Equal Housing Lender Equal Housing Lender