Money Market Accounts
The more you save, the more you can earn. Looking to give your savings a boost? Our money market account is the perfect option.
What is a Money Market Account?
Money market is a savings account that offers increased dividends in exchange for maintaining a higher minimum balance ($5001), so your savings can add up faster than in a traditional savings account.
Plus, our tiered-rate offering means that the more you save, the more you can earn in dividends. See the tiers and associated rates below.
Benefits of Money Market
| Description | APY* | Dividend Rate | |
|---|---|---|---|
| Balances of $500.00 to $4,999.99 | 2.50% | 2.47% | |
| Balances of $5,000.00 to $19,999.99 | 2.50% | 2.47% | |
| Balances of $20,000.00 to $49,999.99 | 2.50% | 2.47% | |
| Balances of $50,000.00 to $99,999.99 | 2.75% | 2.72% | |
| Balances of $100,000.00 and over | 3.00% | 2.96% |
Browse Common Questions
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Opening a money market account with PSECU is easy.
If you're already a member:
- Log into digital banking.
- Select the menu in the top left corner.
- Select Add a Product.
If you’re not a member yet, you can add a money market account after you join PSECU.
- Join PSECU.
- Follow the prompts on the screen to join PSECU.
- Select Money Market as one of the products you’d like to add to your new account.
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If your daily account balance falls below $500, you won't earn dividends until your daily balance again reaches $500.
If your balance falls below the minimum of a tier, you'll earn dividends at the rate of the tier that matches your account balance. For example, if you move from the third tier to the second tier, you’ll earn dividends at the rate associated with each tier for the days that your balance fell within those tiers.
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Your funds in your money market will earn dividends that match the tier that your account balance falls into. To earn the dividends associated with a specific tier, your balance must reach the minimum balance requirement of that tier. Dividends are calculated on actual daily balances. If your daily account balance falls below $500, you won't earn dividends until your daily balance again reaches $500. Dividends are declared monthly, compounded daily, and paid monthly into your money market account.
Browse Helpful Resources
Want your savings to skyrocket? Here are our best tips to help you on your way.
Achieve More with PSECU
More gimmes + less gotchas = modern digital banking. Become a member today, and let your money live in the 21st century.
1Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Money market accounts require a minimum of $500 to earn dividends. For consumer accounts, view Truth in Savings Account Disclosures.
Business Accounts: Business money market accounts require a minimum of $2,500 to earn dividends.
2Based on current 2.50% Annual Percentage Yield (APY) on money market balances of $500.00 and over and 0.61% APY national average yield for savings and high-yield savings accounts per Bankrate as of August 8, 2024. Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Money market accounts require a minimum of $500 to earn dividends. View Truth in Savings Account Disclosures. Rate current as of August 8, 2024.
Business Accounts: Business money market accounts require a minimum of $2,500 to earn dividends.
¹To be eligible for the Youth Savings rate, the primary account owner must be under the age of 18. All eligible Youth Savings Share accounts earn 4.00% APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply. Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Find our current dividend rates at psecu.com/rates. PSECU requires a $5 minimum balance to open and maintain a Regular share account. This $5 share account deposit is also required to be eligible to receive the Youth Savings rate, and the member must be in good standing as defined by PSECU's Bylaws, Article II, Section I. PSECU will make a $5 minimum share purchase on behalf of the member.
IRAs and loans may not be assigned to Custodial Accounts (exception: Educational IRAs are permitted). PSECU may not use the account to offset any outstanding balance of the donor or custodian.
Custodial Accounts conform to Pennsylvania's Uniform Transfers to Minors Act — for questions about these accounts, refer to PSECU's agreements and disclosures and consult an attorney.