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Money Market Savings Account

Introducing the Parsons FCU Money Market Savings Account (MMSA)

Earn more than a basic savings and enjoy no term restrictions. Money market accounts are useful for the money you might need in the relatively near future and allow you to earn returns while keeping your funds safe and accessible.

1.50% APY* Special Jumbo Rate -  Over $250,000 to earn the jumbo dividend rate

or

Earn up to 1.00% APY* for minimums $250,000 and below

Speak with a Member Services Representative today to open up your Money Market Savings Account.  Call (800) 765-4527 or email mbrserv@parsonsfcu.com to get started.

Deposit Rate Sheet

*APY=Annual Percentage Yield. The APY is a prediction based on the assumption that all dividends remain for a year and are not withdrawn. APY is accurate as of the last dividend declaration date.

To open an MMSA, you must first be a member of Parsons FCU. Federal regulations limit the number of certain types of transfers and/or withdrawals you can make from your MMSA account to six per calendar month. The types of transfers and withdrawals that are limited are those requested by in-person, fax, telephone, Internet, or pre-authorized transfers (including those through the Automated Clearing House (ACH)). Parsons FCU Money Market accounts do not have debit cards or check writing capabilities. Excessive transactions that are limited by the regulation could result in fees or account closure. If you exceed the transfer limitation set forth above in any statement period, your account will be subject to a fee.

Advertised rates are variable and effective 09/01/2019. The 1.50% Annual Percentage Yield (APY) applies to the entire account balance for accounts with balances of over $250,000.00; a 0.50%-1.00% APY applies to the entire account balance for accounts with balances $250,000.00 or less. Rate may change after account opening. There is no monthly cycle service charge for this account, and no minimum balance requirement to open or maintain the account.

The dividend rate and the Annual Percentage Yield (APY) for your MMSA is disclosed at the time of account opening. Fees and charges that may be assessed are disclosed on Parsons FCU’s current Schedule of Fees and Charges. Current rates and fees may also be obtained by going to parsonsfcu.org or by calling us toll-free in the U.S. at 1-800-765-4527. Fees may reduce the earnings on the account.

Earned dividends begin the day the MMSA was opened. Dividends are computed using the daily balance method by applying the daily periodic rate to the full amount in your account at the end of each day. Dividends for the MMSA are compounded monthly and credited on the last business day of the month in which they were earned. The dividend period is monthly, beginning the first day of the month and ending the last day of the month. For example, the beginning date of the first dividend period of a calendar year is 1 January, and the ending date of such dividend period is 31 January. All other dividend periods follow this same pattern of dates.