Money Management Account
Managing your money should be simple and rewarding. Our Money Market account offers a smart way to save, earn competitive dividends, and access your funds when you need them—all with the flexibility you deserve, plus the convenience of check-writing when you need it.
Get Started Today.
Benefits of a Money Management Account
Money Management Account Details
What you need to know:
- Minimum balance of $2,500
- No minimum withdrawal amounts
- No penalties on withdrawals
- Dividends adjust based on market (paid monthly)
- 6 withdrawals per month, 3 of which may be checks
Perks of being a member:
- Get started on us! Your first 40 checks are free
- Access your funds, your way – no term commitments, just financial freedom
- Your money is safe – insured up to $250,000 by the NCUA
Manage, Save, Grow!
Join NowMoney Management Account Rates
| Money Management* | Minimum Balance | Rate Type | Dividend Rates | APY** |
|---|---|---|---|---|
| $2,500 | $2,500 | Variable | 0.65% | 0.65% |
| $10,000 | $10,000 | Variable | 0.65% | 0.65% |
| $25,000 | $25,000 | Variable | 0.65% | 0.65% |
| $50,000 | $50,000 | Variable | 0.65% | 0.65% |
| $100,000 | $100,000 | Variable | 0.70% | 0.70% |
| $250,000 | $250,000 | Variable | 0.75% | 0.75% |
Money Management Accounts are variable rate accounts that use simple interest on a daily basis, which applies the daily periodic rate to the balance in the account each day. If at any time your Money Management balance falls below $2,500, your dividend rate will become 0.03% with a 0.03% APY. Dividends will continue to be paid monthly.
**APY = Annual Percentage Yield.
Money Management FAQs
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How much money do I need to open a Money Market Account?
The minimum opening balance is $2,500. You'll get competitive rates right away and then your rates will go when your balance reaches $100,000 and $250,000.
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What happens if my balance drops below $2,500
If your balance drops below the minimum opening balance of $2,500, your account will stop earning interest and could potentially be closed.
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Can I withdraw money from my Money Market Account any time I like?
Yes, you can withdraw funds from your account any time you like, using your special checkbook, a fund transfer, or by visiting a branch.
But note: There is a six per month limit on certain types of withdrawals, including those by check, draft, or debit card, as well as preauthorized, automatic or internet transfers, and telephonic orders or instructions.
The number of in-person withdrawals may not be subject to the same limits.
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What happens if I make more than six withdrawals per month?
The number of withdrawals you can make are mandated by the federal government in return for the fact you can get higher than usual rates on your balance.
If you exceed your six withdrawals per month, you may have to pay a fee and your account may eventually be closed. In that case, your funds would be transferred to another type of account.
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What's the difference between the dividend rate and APY?
The dividends you earn on your account are your reward for being a partial shareholder of CommonWealth Central Credit Union. The dividend rates are always given as a percentage.
Your dividends are also compounded on a schedule throughout the year, meaning you earn interest on the funds you put into your account -- and you also earn interest on the dividends that those funds earn.
So, annual percentage yield (APY) considers the original dividend percentage as well as the compounding schedule to show you what you'll ultimately earn.
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Learn. Grow. Build Confidence.
Take control of your finances with quick, interactive lessons! Learn to save smarter, budget better, and plan for the future—all at your own pace. Ready to make smarter money moves?
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