What is a Money Market Account?

What is a Money Market?

What’s the big deal?

A money market account is similar to having a savings account, but with the flexibility of a checking account. Additionally, money market accounts can earn a dividend rate that is higher than rates on savings or checking accounts because of higher minimums to open.

What is a Money Market exactly?

Our money market accounts provide higher-yield dividends as you save more, and you can access your money, up to six transactions per month*. This flexibility allows you access to your money, but with a goal of keeping it growing and safe.

Our money market accounts are not investment accounts and have nothing to do with the stock market. Your funds are insured by the National Credit Union Administration (NCUA), just like any of our savings accounts.

It’s as easy as pie

Opening a money market account is simple and the best part is you can make deposits from internal or external financial institution accounts. You can also make withdrawals by online transfers or checks, up to six times per month*. Money market accounts make it easy for storing money you want to hold on to for future use or in case of an emergency.

Benefits of an Allegacy Money Market Account

  • Open and fund easily online.
  • Open and add funds with money from one of your other financial accounts, a debit card, or transfer funds from one of your Allegacy accounts.
  • Access your money to spend by checks or WebBanking transfers, up to six withdrawals per month*.

Once you open your Money Market you can set up automatic deposits to keep your money growing, all with the flexibility to access it if you need it.

Get started with a Money Market today.

*All requirements must be met to earn highest dividends. Some transfer/withdrawal limitations and restrictions may apply. Fees may reduce the earnings.
Each money market account is eligible to receive up to one package of pre-selected standard, duplicate-style Allegacy checks per year. Allegacy provides eStatements as a free service; however, you must sign up for eStatements to receive them. On WebBanking, some restrictions may apply. To use mobile banking or to get text alerts, you must first sign up for them. Allegacy does not charge a fee for these services, but your mobile carrier’s normal data rates apply.