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Money Market Savings Account

High rates and flexibility




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Money Market Savings Account

Money Market Account

  • Earn high tiered dividends
  • $0 minimum to open
  • $1,000 minimum to earn dividends
  • Free online, mobile, and branch access
  • Federally insured by NCUA

Please refer to Details and Rates tabs for more information.

"Simple and effective"

Open quote DCU's money market is a good money market account with simple and effective features, and is backed by DCU's impeccable service, functionality and ease of use. Close quote

— Shriak, Arlington, VA

Money Market Savings Account Details

  • Earn high tiered dividends – You'll earn dividends that often rival uninsured money market mutual funds. As the money in your DCU Money Market Account grows, you'll automatically earn a higher dividend rate. Click the "Rates" tab for balance tiers and dividend rates.
  • $0 minimum to open
  • $1,000 minimum balance to earn dividends
  • Free online, mobile, and branch access – You can access your account 24 hours a day using any DCU ATM, Online Banking, and Easy Touch Telephone Teller. You can access your account in any DCU branch and make deposits online anytime with a scanner or camera in your smart phone by Online Deposit.
  • Federally insured by NCUALearn more about insurance on all your savings at DCU and how to maximize your coverage.

*Federal Reserve Regulation D states no more than six (6) pre-authorized, telephone, automatic, or check withdrawals or transfers in any combination are permitted in any calendar month from your Money Market Account.

Rates may change after the account is opened and are subject to change weekly. Funds earn dividends from day of deposit to day of withdrawal, compounded daily and paid monthly. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on this account. Refer to DCU's Truth-In-Savings Disclosure and Account Agreements and Schedule of Fees and Service Charges.

Please refer to Features and Rates tabs for more information.

Money Market Savings Accounts*

$1,000 minimum balance to earn dividends.

Balance Tiers Dividend Rate Annual Percentage Yield
When daily balance is $100,000.00 or more 0.80% 0.80%
When daily balance is $50,000.00 to $99,999.99 0.65% 0.65%
When daily balance is $25,000.00 to $49,999.99 0.50% 0.50%
When daily balance is $10,000.00 to $24,999.99 0.35% 0.35%
When daily balance is $1,000.00 to $9,999.99 0.20% 0.20%

Rates are effective .

*Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. Money Market dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges.

Annual Percentage Yield (APY) is a figure calculated using a federally-mandated formula. It's designed to help you compare the return you'll get in a uniform way between the certificate, savings, and money market accounts offered at various institutions. It tells you at what percentage your money will grow in one year at the same dividend rate – including the effects of compounding. For example, the APY on a 6-Month Certificate would be what you earned at the end of a year if you renewed your certificate once, did not add to or subtract from the balance along the way, nor withdrew any dividends.

 

Please refer to Features and Details tabs for more information.


Rated 4 out of 5 by 151 reviewers.
Rated 5 out of 5 by This product is good Unused savings can be parked in this account and get dividend. The more the money parked the more the interest. Also, you can withdraw anytime without a fee. October 8, 2016
Rated 5 out of 5 by Good Interest Rate and ease of opening. Good Products and Services offered by DCU. Internet banking and mobile app is very good. More advanced and more secure. September 10, 2016
Rated 5 out of 5 by Easy to sign up on line I just opened this money market, so time will tell how good it is. I will keep you posted. August 30, 2016
Rated 5 out of 5 by Very Happy So Far It is a bit early to rate this product but I had done my homework and I know it will be positive. I will use this account as a place holder for my quarterly State an Federal tax payments as an independent consultant. June 25, 2016
Rated 5 out of 5 by this product is very helpful i found this product very easy to deal with it and helps me make my desicions a lot faster. April 17, 2016
Rated 5 out of 5 by Competitive Rates This is an insured savings account that gives us flexibility in saving and access to our funds when needed. There is no "penalty" for withdrawal as with a CD. It is an excellent alternative for us "serious savers". April 2, 2016
Rated 5 out of 5 by Awesome as always We are saving for a nice vacation in late 2017. And the staff at dcu in Merrimack NH was so helpful to give me the best interest savings account.... I have been with dcu for over 9 years and still very happy with all they do . any time I walk in I'm treated like a person not an account number they are always friendly.... Thanks for all you do...jeff March 19, 2016
Rated 5 out of 5 by More Savings More Interest equals more savings Better rates than any of the local banks, I like that I have access to it and I can make a transfer into my checking at any time March 6, 2016
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(18 Questions : 19 Answers)

Product Q&A

Ask your questions. Share your answers.

 
 
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State: Massachusetts
Age: 45-54
DCU Member for: Over 20 years
 
Products related to my question
 
3 years, 7 months ago
Member avatar
by
brad
belmont
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Answer: 
yes, contact DCU to confirm. Its not a CD.
State: Georgia
3 years, 6 months ago
Member avatar
by
Abbie
Alpharetta
+2points
2out of 2found this answer helpful.
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Answer: 
Yes, a DCU Money Market may be closed at any time without penalty.
State: Massachusetts
3 years, 7 months ago
Member avatar
by
DCU Staff
Marlborough
+7points
7out of 7found this answer helpful.
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Is it completely free to have a Money Market Account with DCU? Or are there monthly/annual fees associated with having it? Also, are there any fees for withdrawal?

Thank you!
State: Massachusetts
3 years, 10 months ago
Member avatar
by
Fred
Marlborough
0points
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Answer: 
There are no fees associated with having a DCU Money Market.
State: Massachusetts
 
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3 years, 10 months ago
Member avatar
by
DCU Staff
Marlborough
+2points
2out of 2found this answer helpful.
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Are there taxes on the interest earned through the Money Market account?

Do you have to declare interest earned on a Money Market account when filing taxes?
State: Massachusetts
Age: 35-44
DCU Member for: Haven't joined yet
3 years, 10 months ago
Member avatar
by
BostonRob142
Hudson
0points
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Answer: 
Dividends earned in the amount of $10 or more are reported to the IRS for any DCU account. A 1099-INT form is provided for members earning $10 or more in dividends in January each year to file with their taxes.
State: Massachusetts
3 years, 10 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
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State: Massachusetts
Age: 25-34
DCU Member for: 5 to 10 years
3 years, 2 months ago
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by
sophie
acton
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Answer: 
If you already have a DCU Savings and Checking, then you may easily open a DCU Money Market by clicking the Open Accounts tab in Online Banking. The only requirement is that you maintain a balance of $1,000 or more to earn dividends.
State: Massachusetts
 
Products related to my answer
 
3 years, 2 months ago
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by
DCU Staff
Marlborough
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1 answer

state taxes

I am not a Massacusetts resident. I live in Oregon. If I open and then earn interest on a money market account with Digital Federal Credit Union, will I be subject to Massachusetts state tax liability on that interest? Will I have to file Massachusetts state income taxes?
State: Oregon
Age: 45-54
DCU Member for: Haven't joined yet
3 years, 1 month ago
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by
out-of-stater
Eugene
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Answer: 
1099-INT forms are provided to members who earned $10 or more in interest during the year to report in the appropriate area of their Tax Forms when filing. You may contact your Tax Advisor directly to learn how this would be listed when filing your Tax Reports.
State: Massachusetts
3 years ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
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"Fast and easy to open"

Open quote I was able to open a money market account online in less than one minute. Impressive! I had the option of adding a joint owner. This saved me a lot of time. Close quote

— Blueeyes, Tilton, NH

Easy Ways To Open a Money Market Account

  1. Open Online – Opening a DCU Money Market Account is fast and convenient! Follow the simple step-by-step instructions and open your account in minutes online.
  2. By Phone – Call 800.328.8797 or 508.263.6700, (select 3).
  3. Visit a DCU Branch – Visit a local branch and open a Money Market Account. A Member Service Representative will assist you and be able to answer all your questions.

"Great benefits"

Open quote I opened a new money market account after closing my account at Citizens because of too many fees. DCU makes finances easy, with no fees and great benefits. Close quote

— DCU Fan, Merrimack, NH

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