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Funds can be withdrawn at any time and can be used for Overdraft Protection.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

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Funds can be withdrawn at any time.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

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

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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