What Is a Money Market Account?
If you’re looking for a way to earn a higher interest rate on the money you’re saving, a money market account may be right for you. This type of savings account functions differently from traditional accounts and gives you more flexibility when you manage your money.
Money market accounts are savings accounts, but unlike traditional savings accounts, they typically come with a checkbook. The number of withdrawals and checks you can use every month is limited. The interest rates on money market accounts are also higher than traditional savings accounts’. There is usually a higher minimum balance requirement for opening a money market account.
Is a money market account right for you? Make an appointment at GCS Credit Union to find out. We offer several different savings options, including traditional savings, money market accounts , and CDs. Our O’Fallon credit union has a complete range of financial products to help you manage your finances. Find out more by calling (618) 797-7993.