Indiana Members Credit Union offers competitive money market rates to all its members.
The rates are subject to change, but as of the last update, the minimum balance requirement is $100 to avoid a monthly maintenance fee.
Members can earn a higher rate with a higher balance, with rates increasing as the balance grows.
For example, a balance of $25,000 or more earns a higher rate than a balance of $10,000 to $24,999.
Calculate Your Earnings
Calculating your earnings with the Indiana Members Credit Union money market rates is a straightforward process. To get started, simply enter your deposit amount, and you'll see how much you'll earn in just 1 year.
The calculator is designed to help you visualize your potential earnings. It's not a guarantee of actual results, but rather an illustrative tool to give you an idea of what to expect.
The deposit amount range for this calculator is $0 to $99,999,999. This means you can enter any amount within this range to see how it would perform.
Here's a breakdown of the earnings distribution:
Keep in mind that the actual results may vary, and this calculator is for illustrative purposes only.
Money Market Information
Indiana Members Credit Union offers competitive money market rates, with a current rate of 2.50% APY for balances up to $250,000.
For balances over $250,000, the rate is 2.25% APY. This means that members can earn a higher rate on their larger balances.
A minimum deposit of $1,000 is required to open a money market account, making it accessible to a wide range of members.
Interest is compounded daily and credited monthly, providing members with a steady stream of earnings.
Fees are minimal, with a monthly maintenance fee of just $5 for balances under $1,000.
If You're Not a Premier Member:
If you're not a Premier Member, you'll need to know the terms for opening and using a Money Market Account. To open an account, a $5 minimum deposit is required.
Interest rates may change after account opening without notice, so it's essential to review the rates periodically. The rates are valid as of 11/01/2024, and interest is paid at tier rates on balances within each tier.
Certain withdrawal limits apply to Money Market Accounts, so be sure to review your Membership and Account Agreement Disclosure for details.
Frequently Asked Questions
Who has the highest money market rates right now?
The highest money market rates currently available are offered by Brilliant Bank with 4.85% APY. Check the list for more options and details.
How safe is a money market account at a credit union?
Money market accounts at credit unions are safe if they are federally insured, meaning your deposits are protected up to $250,000
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