PSECU Money Market Shares allow you to earn higher dividends without limiting accessibility to your funds. These funds are federally insured by the National Credit Union Administration (NCUA) up to a total of $250,000 for all shares. This is the maximum amount allowed by law.
- Minimum balance to open: $0
- Minimum balance to earn APY: $500
- Rate: Declared weekly
- Dividends*: Day of deposit to day of withdrawal. Dividends are calculated on actual daily balances. If the daily balance falls below $500, no dividends are earned until the daily balance reaches $500. Dividends are compounded daily and paid monthly into Money Market Shares.
- Withdrawal Restrictions: Minimum withdrawal by member request - $20. Money Market remains open until instructed in writing to close.
- Fees: None
- Transaction Limits: A maximum of six withdrawals or transfers per month are permitted from one share to another, to a prefix account or to a third party. No more than three of the six transfers may be made by check, draft, debit card or similar order to a third party. If the transfer limitations are exceeded, your account may be closed.
- Overdraft Protection Transfer Service: Is available a maximum of six times per month.
- Additional deposits: Can be made anytime. You can start or stop recurring payments or transfers at any time.
*The payment of dividends is based on the available current and undivided earnings of PSECU. The Annual Percentage Yield (APY) for a one year or less time deposit is based on the assumption that the dividends remain on deposit for a full year. A withdrawal will reduce earnings. Regulations prohibit dividends in excess of available earnings.