Money Market Accounts
Benefits of a Credit Union Money Market Account:
Our credit union money market rates encourage you to achieve your savings goals.
You can access your funds via automatic transfer, telephone transfer, or check.
No Monthly Fee
Simply maintain a balance of at least $10,000 and we won’t charge you any maintenance fees.
Keep your money safe in your account and avoid stressing about the stock market.
How Does a Money Market Account Work?
A Legacy Credit Union Money Market Account lets you earn higher rates than regular savings and offers easy access to your funds.
- Open a Preferred Money Market account with a minimum balance of $10,000.
- Earn dividends on a tiered basis so the higher your balance, the more you earn.
- You can make up to six withdrawals per month by automatic or telephone transfer to a third party.
- Up to three of these six transfers can be made by check or draft to a third party.
- If the account falls below $10,000, your rate drops and you need to pay a $5 monthly fee.
- All funds are federally insured by the NCUA.
A Money Market Account is the smart way for our members in Birmingham, Alabama, to grow their savings effortlessly.
Legacy Credit Union Money Market Rates
Watch your rates soar as your balance grows with our competitive tiered-rate structure. Maintain a balance of at least $10,000 to earn a higher money market account rate, then see your rate increase when you reach $25,000, $50,000, and $100,000.
How to Open a Legacy Credit Union Money Market Account
Open Share Savings
A regular savings account is your gateway to all our other products and services and means you become a part-owner.
Choose Money Market
With a deposit of at least $10,000, you can open your Money Market Account and start earning competitive rates.
“Always friendly and helpful.”
– Ann E., Alabaster, Alabama
FAQs About Money Market Accounts
A Money Market Account has similarities and differences with some of our other savings and investment tools. Here’s what you need to know:
- You can earn higher interest rates than regular savings if your balance is over $10,000.
- Like a savings account, you can keep adding funds whenever you want.
- You don’t need to leave your funds untouched for a term, as for a Certificate.
- You may make up to six withdrawals per month by the approved methods.
- You may earn interest at higher or lower rates than a Certificate.
- If you have a balance over $100,000, you can earn a higher rate than our longest Certificate term of 60 months.
- The National Credit Union Administration (NCUA) insures funds up to $250,000.
Note that the minimum balance required to open an account is $10,000 and you need to maintain that balance to earn higher rates than a regular savings or deposit account.
A checking account is a better option if you plan to regularly withdraw, but a Money Market account does let you withdraw funds provided you follow a few simple guidelines:
- No more than six (6) preauthorized, automatic, or telephone transfers may be made from the account to another account or to a third party in any month.
- No more than three (3) of these six (6) transfers may be made by writing checks or drafts to a third party.
Legacy Credit Union is a full-service financial institution and you can add funds using any method that suits you:
- In person at one of our branches in Birmingham, Alabama.
- Transfer using Online and Mobile Banking
- Direct deposit
- Payroll deduction
More Savings and Investment Options
Share Certificate Accounts
Choose a term from 91 days to 60 months and watch your balance grow with higher rates for longer terms.
Save effortlessly when we round up your debit card purchases to the nearest dollar and transfer the difference. Plus earn a great rate on balances up to $1,000!
Rates are current as of 4/21/2023 and are subject to change without notice
*APY = Annual Percentage Yield.