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Helping you save for a better tomorrow

Money Market vs. Savings

Money market accounts and savings accounts have many differences, but they have a few things in common, too. Both types of accounts are:

FDIC-Insured

Up to $250,000, per depositor, per category of account ownership, and per institution. For more information visit the FDIC website.

Interest Bearing

Interest rates on savings and money market savings are subject to change at any time without notice. Rates between account types may vary, but both accounts earn interest.

Limited Transactions

You can only make 6 transfers or withdrawals per service fee period, unless they are made in-person at a branch or at an ATM1
1 We limit withdrawals and transfers out of your savings and money market savings accounts. You can withdraw or transfer funds from a savings or money market savings account a total of six (6) times per Service Fee Period (such as by automatic or pre-authorized transfers using telephone, online banking, mobile banking, overdraft protection, payments to third parties, wire transfers, checks, and drafts). If you repeatedly exceed these limits, we may close or convert your account to a checking account, which may be a non-interest-bearing checking account.
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