Money Management Account

Money Management Account

Enjoy all the advantages of a high-yield savings account along with the flexibility of a checking account.


A happy couple is sitting on the sofa using their tablet to check on the growing funds in their Money Market Account from Commonwealth Central Credit Union.


Maximize the Benefits of Your Money Management Account

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Generous Interest and Dividends

Get started with competitive rates and earn even higher rates as your balance grows.

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Add and Withdraw Your Funds

Make as many deposits as you like.

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Write Purpose-Built Checks

Use the special checks that come with your account to take care of high-value expenses.

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Protected by Insurance

Up to $250,000 of your funds are covered, so you can relax knowing your savings are secure.


What You Need to Know About Our Money Management Account

  • Your Money Management Account offers great rates. As you save more, you could potentially earn a higher interest rate. You can contribute your funds as often as you like.
  • Take up to six free withdrawals per month.*
  • Your account comes with a specific checkbook for those moments you need to cover the important costs in life.
Open An Account
The funds in your Money Market Account grow quickly like these three potted plants.


Set a Goal to Reach Our Top Money Management Account Rates

Money Management Savings 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%

*Transfer Limitations. For all Share, Money Management and Wealth Management accounts, you may make no more than six (6) transfers and withdrawals from your account to another account of yours or to a third party in any month by means of a preauthorized, automatic or internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. If you exceed these limitations, your account may be subject to a fee or be closed.

**APY = Annual Percentage Yield.



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FAQs About Our Money Market Account

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Other Ways You Can Grow Your Money

Regular Share Account

With a minimum deposit of just $10, this is a great place to start. Stay above $100 to earn monthly dividends. Plus, open and close a Special Share Account to reach a specific savings goal.

Learn More

Share Certificate Accounts

Open a Certificate account with $500. Choose a term of three months to three years and watch your money grow! A 12-Month Certificate lets you make extra $100 deposits anytime.

Learn More

Individual Retirement Accounts

Putting money aside for retirement is a smart strategy. CommonWealth Central CU has several IRA offerings to meet your needs and you can open an IRA today with as little as $100.

Learn More