Money Market Accounts

Our competitive credit union money market rates help you get the most out of your savings.

Looking for great money market rates? An FFCCU money market account is designed around your savings needs – with four different levels of savings options to help you earn more the more you save. Plus, each of our money market savings account tiers allow you to access your savings to pay for the things you need – from a monthly withdrawal for your mortgage to funding a special vacation. You can make unlimited deposits and withdraw or transfer up to three times per month* – and you can access your account anytime through online banking, mobile banking or by phone.

*A $10 fee is charged for every withdrawal and/or transfer over three per month.

KUDOS!

FFCCU Offers Some of The Best Money Market Rates in Ohio

Earn interest on your money with highly competitive credit union money market rates. You can open and maintain an FFCCU Money Market Account with as little as $50.

As of May 15, 2024
Account TypeMinimum Balance APY*
Money Market$50-$4,999.990.15%
$5,000-$24,999.990.20%
$25,000-$49,999.990.30%
$50,000+0.40%

*APY = Annual Percentage Yield. Dividends are credited to your account and compounded every month. Minimum balance requirements apply to average daily balance. Call 216.621.4644 for current rates as they are subject to change at any time and without notice. Click here to view full rate disclosures and policies.

What Are the Benefits of Money Market Accounts?

Money market savings accounts give you quick and reliable access to your money while helping you earn a higher return on your investment compared to a traditional savings account. Because you can make up to three withdrawals or transfers per month without incurring a fee, they also offer more liquidity than a savings certificate. Many people use money market accounts to save for unexpected purchases, major home repairs or other infrequent but necessary expenses since money market accounts let you easily transfer money from one FFCCU account into another. Have a checking account with us? If your paycheck is direct deposited, you can transfer money each month into a savings account as a quick and easy way to save. You’ll get our best money market rates and save on a regular basis.

Money market savings accounts are also one of the lowest risk savings vehicles available. As a FFCCU member, your account is insured up to $250,000 through American Share Insurance (ASI). This level of protection is often hard to find from a brokerage firm or other investment partner.

Opening a Money Market Savings Account with FFCCU is Easy!

You can open a money market account with as little with just $50! And you can do it from the comfort of your home — online, in our app or over the phone. Of course, we love talking to our customers in person. Just visit your local FFCCU branch to sit down with a staff member who can take you through all of your savings options and answer any questions you may have.

Why Invest With FFCCU?

Service

When you invest in a community credit union, you get a level of service that’s more personalized to you. FFCCU is locally based, and our focus is always on our credit union members. Like everything we do at FFCCU, we put honest advice and friendly service above all else, and offer great rates help you get the most out of your money.

Support

In a world where online banking is the norm – the personal touch still matters. In addition to offering the latest and most secure online banking tools, FFCCU also still offers in-person support. We’ll sit down with you and talk through all the accounts available at FFCCU to determine what matches your goals.

Trust

We back up our service and products with private share insurance. That means your account is insured up to $250,000 through American Share Insurance (ASI). ASI is the nation’s largest provider of private share insurance for credit unions and has been serving customer needs since 1974.

WE’RE HERE FOR YOU

We know Ohio because we live and work here too. We’ve been helping our customers with their community credit union needs since 1936. Wherever you live in Northeast Ohio, we can help:

  • Cuyahoga
  • Geauga
  • Lake
  • Lorain
  • Medina
  • Portage
  • Summit

BRANCH/ATM FINDER  

FAQs

Money market accounts at FFCCU offer a higher interest rate compared to traditional savings accounts – while offering easier access to your money compared to a share certificate. You can set up automatic deposits into your money market account or transfer funds into your account from other FFCCU accounts – such as a checking account. For example, you could choose to have your paycheck direct deposited into your checking account, and then transfer a percentage of that to your money market for long-term savings.

At FFCCU we offer four different savings tiers, and each tier requires a different minimum balance. Our lowest tier allows you to maintain your account with as little as $50. Our highest tier requires a minimum balance of $50,000. The higher your tier, the higher the annual percentage yield. Your monthly dividends are calculated based on your average daily balance for the month. For example, if you carry a $5,100 balance for the first 16 days of a 30 day month, and a $4,900 balance the last 14 days of that month, you would receive the higher annual percentage yield.

The minimum balance you must have in any money market account is $50. You’ll never be charged a fee for maintaining the account with $50 or more. Additionally, you will not be charged a fee unless you exceed the maximum number of withdrawals per month or if you would like us to issue checks from your account. You can make unlimited deposits and withdraw or transfer funds up to three times per month. Additional withdrawals or transfers will incur a $10 fee per transaction.

No, the money in your money market account is yours. You can withdraw up to three transactions per month as long as your balance does not dip below $50. These accounts do not offer credit.

At FFCCU, every member account is insured up to $250,000 through American Share Insurance (ASI). This dollar amount is the total you have with us across all your accounts: checking, traditional savings, money market, etc. ACI is the nation’s largest provider of private share insurance for credit unions.

Yes – and that’s one of the big benefits of a money market account! You can make electronic/ACH withdrawals or transfers, or withdraw money in a branch up to three times per month. Additional withdrawals or transfers will incur a $10 fee per transaction.

Money market savings accounts are one of the lower risk forms of investments available. Your account will not experience the fluctuations that happen with stock or brokerage investments, and every FFCCU member account is insured up to $250,000 through American Share Insurance (ASI).

Unlimited, but I’m not sure this is a question worth asking because why would you have a bunch instead of just 1-2 because you can earn much more interest. Personally, I’d scratch this.

In many ways, it’s a lot like a savings account or checking account – however you are limited in the number of withdrawals or transfers you can make per month.

Absolutely. You can set up automatic payment for your mortgage, car loan or other reoccurring bills. However, you want to limit these withdrawals to less than three per month. Additional withdrawals or transfers will incur a $10 fee per transaction.

*APY = Annual Percentage Yield. Dividends are credited to your account and compounded every month. Minimum balance requirements apply to average daily balance. Call 216.621.4644 for current rates as they are subject to change at any time and without notice. Click here to view full rate disclosures and policies.

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