What is a money market account?

A money market account offers the ease of a checking account and the earning potential of a savings account—in fact, a money market account will usually offer higher interest rates than a typical savings account. This means that you can earn more in interest on the same amount of deposited money.

Open a money market savings account with just $1,000

Make withdrawals and deposits in any amount, earn higher interest, and start earning dividends once your balance reaches $2,500 or more.

Overdraft_Protection

Overdraft Protection

Use your money market account as a source of protection for your checking account from unexpected slip-ups with Overdraft Protection.

no hidden fees

No limits on deposit or withdrawal amounts

Avoid a monthly maintenance fee of $7.50 by maintaining an average monthly balance of $2,500.

It's quick and easy to open a money market account

You can visit a nearby branch or call 505-889-7755 (1-800-347-2838 outside the Albuquerque area) and open an account today.

Compare Savings Accounts

Regular Savings

Up to {{RATE}} APY

Your path to financial success starts here. Great for your short- or long-term financial goals.


Earnings potential

Basic savings typically earns less than money markets or share certificates. Higher rates earned on balances above $100.

Minimum Opening Deposit

$5

Fees

No fees

Deposits

Funds can be added at any time.

Withdrawals

Funds can be withdrawn at any time and can be used for Overdraft Protection.

Dividends Compounded

Daily

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Money Market

Up to {{RATE}} APY

Easy access to funds with higher dividends and no early withdrawal penalties.


Earnings potential

Higher savings that typically earn more than a regular savings account, but less than a share certificate account. Earn higher interest and start earning dividends once your balance reaches $2,500 or more.

Minimum Opening Deposit

$1,000

Fees

If the account falls below an average monthly balance of $2,500 there is a minimum balance fee of $7.50.

Deposits

Funds can be added at any time.

Withdrawals

Funds can be withdrawn at any time.

Dividends Compounded

Daily

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Share Certificate

Up to {{RATE}} APY

Fixed rate savings account that compounds interest monthly for a set term.


Earnings potential

Highest savings potential that typically earns more than a regular savings account or a money market account. Typically, the longer the term, the higher the return.

Minimum Opening Deposit

$500-$1,000 (varies on type of certificate)

Fees

Early withdrawal of principal (funds deposited) will incur a penalty.

Deposits

Funds can only be added at the time of opening.

Withdrawals

Funds can be withdrawn at the end of the selected term.

Dividends Compounded

Monthly

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Calculate your earning potential with a money market account

Although interest rates are quoted annually (Annual Percentage Yield), the interest on a Nusenda Credit Union money market account is compounded monthly. With compound interest, interest is added to your principal to form a new base on which you earn the next round of interest.

For example, if you deposit $1,000 into a savings account with an annual interest rate of 5%, you’ll earn $50 that year for a total of $1,050. But if the interest compounds monthly, you’ll actually earn about $51.16 for a total of $1,051.16, so the APY is slightly higher than the nominal rate, at 5.12%.

Ready to see your savings grow with a money market account? Enter your money market initial deposit and APY to see how your savings will grow over time.

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