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Money Market Accounts  
Earn higher yields than with a regular savings account while keeping your funds readily accessible. Open a Money Market Account with as little as a $1,000!
• No Minimum Balance†
• No Monthly Service Charge†
• 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.

Question:  What is a MMA (Money Market Account)? 

Answer:  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 that account even though it is a special share account.  It is commonly referred to as a Money Market Account. 

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

Answer:  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 $12 fee for each occurrence.  If you continually exceed the monthly transaction limit, your MMA may be closed as prescribed by law and regulation.

Question:  Do I need special checks to access this account? 

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

Question:  May this account be used for overdraft protection? 

Answer:    No.

Question:  May I set up online bill payment from this account?

Answer:    No.

Question:   May I use my check card on this account?

Answer:  No

Question:  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? 

Answer:  Yes, you need to make sure your minimum balance is always at or above the minimum balance required of $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. 

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