Money Market Accounts
Earn higher rates as your balance grows.
Benefits of a NextMark Money Market Account
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Earnings Rise as Your Balance Grows
Your earnings and will jump when you reach milestone savings amounts.
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Up to Three Monthly Withdrawals
Withdraw funds from an ATM using your debit card, transfer to another account, or write a check.
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Deposit Funds Anytime
Open an account with $2,500 and begin building savings at your leisure.
How Does a Money Market Account Work?
A money market account empowers you to save while having the flexibility to withdraw funds when needed. Earn higher yields than a regular savings account with fewer restrictions than a certificate.
- The minimum amount to open an account and earn dividends is $2,500.
- Our competitive rates go up when you achieve a balance of $10K, $25K, and $100K.
- You can withdraw your funds with a debit card, or by writing a check.
- Deposit additional funds as you please.
- Set up a direct deposit from your payroll to earn more dividends consistently.
- Easily access your account through Online and Mobile Banking to transfer funds to other accounts (within the 3 withdrawal maximum)
Credit Union Money Market Account Rates
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Balance |
Dividend Rate* |
APY** |
|---|---|---|
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*Rates shown are “as high as” amounts. **APY=Annual Percentage Yield. Rates are effective as of 11/29/2023. Rates subject to change without notice. Fees may reduce earnings on accounts. Variable rate account, dividend rates may change after account opening. For any withdrawal from your Money Market Plus account in excess of 3 per month, you will be charged a fee as stated in the fee schedule. The minimum amount of each withdrawal is $100. |
||
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Balance $2,500-$9,999 |
Dividend Rate* 1.00% |
APY** 1.00% |
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Balance $10,000-$24,999 |
Dividend Rate* 1.29% |
APY** 1.30% |
|
Balance $25,000-$99,999 |
Dividend Rate* 1.54% |
APY** 1.55% |
|
Balance $100,000-$500,000 |
Dividend Rate* 1.79% |
APY** 1.80% |
Let’s get started
Simple process in a timely fashion. Directions were easy to follow. Rates are competitive. I couldn’t have asked for anything more.
— John H. Fairfax, Virginia
Online banking services and the variety of products is amazing with competitive rates. Easiest process ever to open an account and complete applications all online!
— D. Martin. Fairfax, Virginia
Every time I visit NextMark the staff are always so friendly and helpful. Thank you to Odilia for helping me with my online banking questions. David I. was also very helpful during my visit. I enjoy banking with NextMark and would recommend others to do the same.
— Jayson P. Fairfax, Virginia
FAQs About Our Money Market Account
The name Money Market Account may sound like it’s connected to the stock market, but that’s not the case. A Money Market Account is a secure savings option insured by the National Credit Union Administration (NCUA). Here’s what you need to know:
- Your savings are protected, so you don’t need to worry about stock market volatility.
- You will usually earn higher rates than regular savings, though you should keep in mind that the rates are variable and may change after you open your account.
- Unlike the flat rates offered for most regular savings accounts, Money Market Account rates are tiered, so rates go up when your balance reaches milestone amounts of $10,000, $25,000, and $100,000.
- You can make a certain number of free withdrawals per month – you don’t need to commit to leaving your savings untouched for a particular term, like for a Certificate of Deposit or Share Certificate.
- You can deposit funds on an ongoing basis, while most Certificates don’t let you add funds after you open the account.
In return for higher rates, there are some federal restrictions on how often you can make withdrawals from your Money Market Account.
- You can use special checks to make up to three free withdrawals per month.
- You’ll need to pay a fee to make any additional withdrawals.
- Withdrawals need to be at least $100 each time.
More Great Savings Options From NextMark CU
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Share Certificates
Earn guaranteed rates with an opening deposit of just $2,500. Choose a certificate term of 3 to 72 months and earn more for longer terms!
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Club Accounts
Our Holiday Club and Vacation Club accounts let you put money aside for special occasions and get the funds when you need them.
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IRA Accounts
Open an IRA account and begin planning for a secure future.
DISCLOSURES
During any statement period, you may not make more than six withdrawals from or transfers to another Credit Union Account of Yours or to a third party by means of a draft, debit card (if applicable), pre-authorized or automatic transfer or telephonic order or instruction. If you exceed these limitations, your account may be subject to a fee as stated in the Fee Schedule Under “Reg D Excess Transaction” or be closed. For any withdrawal from your Money Market Plus account in excess of three (3) per month you will be charged a fee as stated in the Fee Schedule. Money Market Plus is a variable rate account; dividend rates may change after account opening. The minimum amount of each withdrawal is $100.00. The Credit Union reserves the right to require a member intending to make a withdrawal to give written notice of such intent not less than seven days and up to 60 days before any such withdrawal.