Navy Federal Credit Union Savings Accounts

With the aim of providing primary lifetime financial services Navy Federal Credit Union was found in 1933. Due to its excellent services many people have chosen to become its members. You can take up its membership during your military service tenure and you will remain its member after you change your employers, move, retire, etc. You will always be retained as a member after becoming their member for once.

They offer a great opportunity for saving with their Money Market Savings Account (MMSA). You will need to have a minimum of $2,500 to open MMSA. But it will give you an opportunity of earning more than a share savings account. The rates for MMSA are explained below:

Money Market Savings Account:
A minimum deposit of $0 to $9,999*** earns a dividend rate of 3.16% with 3.21% APY which is compounded and credited monthly.

- A minimum deposit of $10,000 to $24,999 earns a dividend rate of 3.66% with 3.73% APY which is compounded and credited monthly.
- A minimum deposit of $25,000 to $49,999 earns a dividend rate of 4.01% with 4.09% APY which is compounded and credited monthly.
- A minimum deposit of $50,000 & over earns a dividend rate of 4.41% with 4.51% APY which is compounded and credited monthly.

IRA/Education Money Market Savings Account:
- A minimum deposit of $0.00 up to $9,999*** earns a dividend rate of 3.16% with 3.21% APY which is compounded and credited monthly.
- A minimum deposit of $10,000 up to $24,999 earns a dividend rate of 3.66% with 3.73% APY which is compounded and credited monthly.
- A minimum deposit of $25,000 up to $49,999 earns a dividend rate of 4.01% with 4.09% APY which is compounded and credited monthly.
- A minimum deposit of $50,000 & over earns a dividend rate of 4.41% with 4.51% APY which is compounded and credited monthly.

***Must maintain a minimum daily balance of $2,500 to earn dividends.

It is important to note that:
- Rates on variable rate accounts (i.e. Share Savings, Checking, and MMSA) could change after account opening.
- Fees may reduce earnings.
- Funds in a MMSA cannot be used as collateral.

Interesting MMSA features:
- Allows up to a total of six withdrawals/transfers per calendar month by online, phone or fax request (to include preauthorized transfers)—only three of which can be made by MMSA check
- Has unlimited withdrawals/transfers in person at a branch, ATM or by mail request
- Tiered rates are based on money market environment and may change weekly
- Additions are accepted in any amount, at any time
- Has no term restrictions or minimum balance to open
- Your account is included in our Safety and Soundness Guarantee
- The account balance counts toward your free Life Savings Insurance

Your savings are federally insured up to at least $100,000 by National Credit Union Association (NCUA). You can also take the advantage of high return rates on Money Market Savings Account by opening one today.
*The dividend rates are noted as on 19, December’2007.