Money Market Deposit Account*

What is a Money Market Deposit Account?

A Money Market Deposit account is a savings account which shares some of the characteristics of a money market fund. Like other savings accounts, Money Market Deposit accounts are insured by the Federal government subject to FDIC limitations. Money Market Deposit accounts offer many of the same services as checking accounts, although transactions may be somewhat more limited. These accounts are very safe and highly liquid.

Premier Money Market Deposit Account


  • Available to all depositors.
  • $500 minimum initial deposit.
  • Interest credited at the end of the statement period.
  • Interest rate may change weekly.
  • Unlimited over-the-counter withdrawals.
  • Withdrawals or transfers from a Premier Money Market Deposit account to another account, or to third parties by preauthorized or automatic transfer, telephone transfer, check, draft, or debit card are limited to 6 per statement cycle. You will be charged $8.00 for each excessive check.
  • No maintenance charges as long as you maintain a $1,000 minimum balance, or an average balance of $2,000 in this account, or a $1,000 minimum balance in your Passbook Savings account.
  • If your balance drops below the required balance, there is a maintenance charge of $10.00 per month.
  • The daily balances per statement period determine your interest rates as follows:
    • $10,000 and more: Premier Money Market Rate.
    • $1,500 - $9,999: Money Market Rate.
    • $1,499 and less: NOW Rate.

Investors Money Market Deposit Account


  • Available to all depositors.
  • $500 minimum initial deposit.
  • Interest credited at the end of the statement period.
  • Interest rate may change weekly.
  • Unlimited over-the-counter withdrawals.
  • Excessive checks- $8.00 each.
  • Withdrawals or transfers from an Investors Money Market Deposit account to another account, or to third parties by preauthorized or automatic transfer, telephone transfer, check, draft, or debit card are limited to 6 per statement cycle. You will be charged $8.00 for each excessive check.
  • No maintenance charges as long as you maintain a $1,000 minimum balance or an average balance of $2,000 in this account or a $1,000 minimum balance in your Passbook Savings account.
  • If your balance drops below the required balance, there is a maintenance charge of $10.00 per month.
  • The daily balances per statement determines your interest rate tiers, as follows:
    • $250,000 or over
    • $150,000 - $249,999.99
    • $50,000 - $149,999.99
    • $25,000 - $49,999.99
    • Less than $24,999.99


* You must maintain the required minimum balance in the account each day of your statement cycle to obtain the associated rate.