Available to residents nationwide, MECU Money Market is offering a staggering 2.25% APY Rate. Continue reading below to learn everything you need to know about MECU.
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About MECU Money Market
The MECU Credit Union story begins in 1936. The credit union was originally known as the Municipal Employees Credit Union. In the beginning, they only served Baltimore City employees such as teachers, firefighters, and construction workers. Many didn’t earn much, so they needed a financial partner who would help them make the most of every dollar.
|Eligibility: Membership in MECU is open to those who live, work, attend school, volunteer, or worship in Baltimore. For more information on eligibility requirements please check out their full list of membership requirements.|
The credit union currently has many branch locations within Baltimore.
I’ll review the Money Market below.
MECU Money Market 2.25% Rate
- Account Type: Money Market
- Interest Rate: 2.25% APY
- Minimum Balance: $10,000
- Maximum Balance: $1,000,000
- Availability: Nationwide
- Credit Inquiry: Soft Pull
- Opening Deposit: $10,000
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: None Listed
- Early Termination Fee: None listed, check with CSR
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.40% APY||Review|
|Aspiration||1.00% APY + $150 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
MECU ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with MECU’s ACH capabilities.
How to Earn MECU Rate
- Open a Money Market account from MECU with an opening deposit of $10,000.
- Maintain any balance amount over $10,000 and earn the 2.25% APY rate.
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Open a MECU account online in just minutes
- Rate guaranteed for 6 months
- Free checks with limited check-writing privileges
- Six withdrawals or transfers per month
- NCUA insures your funds so you can have peace of mind
Check out MECU and open a Money Market account this amazing rate! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Money Market Account.