Get more from your savings
With a money market account, you earn higher interest when you deposit more. Interest is paid on balances of $2,500 or more. Overall, we offer five tiers. At the highest level, you’ll earn up to five times the rate of our regular savings account.
Money market accounts at Arsenal are federally insured.
A money market account that doesn't punish you
Many money market accounts have serious restrictions and penalties. Some charge as much as $10 per month if you go under the minimum balance. We offer a more flexible option that’s suited to your savings needs. If you save more, you earn more, but you won’t be penalized for having less in your account.
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1
The best of both worlds
A money market account gives you a blend of savings/checking benefits, allowing you to write up to three checks per month and make a total of six withdrawals.
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2
Access your money anywhere
Never feel tied down when you have online and mobile banking, as well as access to thousands of free ATMs throughout the United States.
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3
No worries
If the minimum balance requirement isn't met, you won't be charged a service fee of any amount.
Rates
| PRODUCT | MINIMUM BALANCE TO EARN APY* | APY / DIVIDEND RATE / INTEREST RATE | COMPOUNDING FREQUENCY |
|---|---|---|---|
| Regular Savings | $100 | 0.10% / 0.10% | Monthly (Dividend) |
| Special Savings | $0 | 0.10% / 0.10% | Monthly (Dividend) |
| Tracker Kids Club | $0 | 0.20% / 0.20% | Monthly |
| Christmas Club | $0 | 0.20% / 0.20% | Monthly |
| Vacation Club | $0 | 0.20% / 0.20% | Monthly |
| Value Checking | $0 | 0.10% / 0.10% | Monthly |
| Advantage Plus Checking | $0 | 0.20% / 0.20% | Monthly |
| Business Checking II | $500 | 0.10% / 0.10% | Monthly |
| Business Checking III | $2,500 | 0.20% / 0.20% | Monthly |
| IRA Savings Account** | $0 | 0.30% / 0.30% | Monthly |
| Money Market Account | $2,500 - $9,999 | 0.25% / 0.25% | Monthly |
| $10,000 - $24,999 | 0.50% / 0.50% | Monthly | |
| $25,000 - $49,999 | 0.75% / 0.75% | Monthly | |
| $50,000 - $99,999 | 0.80% / 0.80% | Monthly | |
| $100,000 and over | 0.90% / 0.90% | Monthly |
DEPOSIT RATES AND TERMS
Rates Subject To Change Without Notice. Rates as of 7-1-19.
*APY=Annual Percentage Yield
**On IRA savings accounts, fees could reduce earnings on the account and early withdrawal penalties may be imposed.
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Money Market Account
Rate information – The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.
Compounding and crediting – Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account – If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance requirements – The minimum balance required to open this account is $2,500.00. You must maintain a minimum average daily balance of $2,500.00 in your account to obtain the disclosed annual percentage yield.
Average daily balance computation method – Interest is calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
Accrual of interest on noncash deposits – Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations – During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or computer transfer. No more than three of the six transfers may be made by check or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.