Money Market Account - Rates - Fort Knox Federal Credit Union

Money Market Account header

Earn higher yields than with a regular savings account while keeping your funds readily accessible.

  • No Minimum Balance 1
  • No Monthly Service Charge 1
  • Minimum Balance to Earn Dividends: $1,000
  • Greater Interest Rates with Higher Deposits
  • Free Online Access

Opening a Money Market Account is extremely easy. In fact, once logged into Branch@Home, you can open a new Money Market Account in less than a minute! You can also open a Money Market Account by calling or visiting your local branch.

1 If balance falls below $1,000 at any time, a fee is assessed (one $10 fee during calendar month).

Product Minimum Balance Required to Earn Dividends APY 1 Compounded/Credited
Money Market Account $1,000.00 to $10,000.00 0.20% Monthly/Monthly
  $10,000.01 to $50,000.00 0.40% Monthly/Monthly
  $50,000.01 to $250,000.00 0.60% Monthly/Monthly
  $250,000.01 and up 0.75% Monthly/Monthly

1 Annual percentage yield. Rates are variable and may be changed or discontinued at any time. Dividends paid and compounded monthly on Money Market Accounts. To avoid transaction fees, a maximum of six (6) withdrawals or transfers are allowed per month. All accounts federally insured by NCUA up to $250,000.

What is a MMA (Money Market Account)? 

It is a type of share savings account where very little account activity is expected and is normally controlled by assessing fees for excessive activity and/or for falling below the required minimum balance of $1,000.  The two key features of this account versus a regular savings account is the added dividend earning potential and the capability to write checks from this account even though it is a special share account.  It is commonly referred to as a Money Market Account.

How many withdrawals/transfers may I make from this account? 

You may make six (6) per month as limited by Federal law and regulation.  Included are transfers to third parties by means of a preauthorized, automatic, telephonic, home banking or audio response transfer or instruction. Exempt are transfers/withdrawals made in person.  If you exceed the limit on preauthorized and automatic withdrawals/transfers, you will be assessed a $12 fee for each occurrence.  If you continually exceed the monthly transaction limit, your MMA may be closed as prescribed by law and regulation.

Do I need special checks to access this account? 

Yes.  Checks should be ordered when this account is opened.

May this account be used for overdraft protection? 


May I set up online bill payment from this account?


May I use my check card on this account?


If my account is assessed a fee for failure to maintain required balance or for excessive withdrawals and my account starts the new dividend period below minimum balance requirement, will I be assessed a fee? 

Yes, you need to make sure your minimum balance is always at or above the required $1,000.  Example: Your balance falls to $500 on October 15, and you make a deposit of $520 on October 30 to bring your balance up to $1,020.  You are assessed a $10.00 minimum balance fee and $12.00 in excess withdrawal fees on October 31 so that your balance declines to $998.00 on October 31.  You did not make another deposit before the fees were assessed on October 31.  So, your beginning balance on November 1 is $998.00 and you will be assessed a $10.00 minimum balance fee on November 30. 

image spacer