What is a Money Market Savings Account?
A Money Market Savings Account is a type of savings account that generally offers higher interest rates than regular savings accounts. It also has some checking account features, like limited check...
Continue ReadingHow is a Money Market Account different from a regular savings account?
Money Market Accounts typically offer higher interest rates and allow for limited check writing or transfers, making them more flexible for larger balances than standard savings...
Continue ReadingWhat is the minimum balance required to open a Money Market Savings Account?
At People Driven Credit Union, the Money Market Savings Account requires a minimum deposit of $1,000 to...
Continue ReadingHow often is interest compounded and paid?
Interest on a Money Market Account is calculated daily based on the account balance and is paid and compounded monthly, allowing your savings to grow...
Continue ReadingIs there a limit on withdrawals or transfers?
Yes, federal regulations allow up to six (6) preauthorized withdrawals or transfers per statement cycle with a Money Market Account, including check writing and electronic...
Continue ReadingCan I write checks from my Money Market Account?
Yes, People Driven’s Money Market Savings Accounts allow for six (6) preauthorized transfers or withdrawals per statement...
Continue ReadingAre Money Market Savings Accounts safe?
Yes, funds in Money Market Accounts at People Driven Credit Union are Federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States...
Continue ReadingAre there fees associated with Money Market Accounts?
Fees may apply if minimum balance requirements are unmet or the number of allowable transactions is exceeded. For more details, refer to the fee schedule provided by People Driven Credit...
Continue ReadingHow can I open a Money Market Savings Account?
You can open a Money Market Savings Account by visiting People Driven Credit Union in person, filling out the forms online, or, if you're a current PDCU member, using the MyPDCU app to open your...
Continue ReadingWhat is an IRA Variable Rate Savings Account?
An IRA Variable Rate Savings Account is a retirement savings option that offers tax-advantaged growth with a flexible, variable interest rate. This account can be opened as a Traditional, Roth, or Educational IRA, depending on your tax and savings...
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