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.