You’re trying to find a great savings account that offers a higher interest rate, without losing access to your funds – whenever you need it. Money Market accounts are ideal for those who maintain higher account balances but prefer anytime access.
Access your money at any point while still earning higher interest.
Dividends accrue daily and are paid monthly on all balances over $1,000.
Yep - you read that right! There are no monthly service fees.*
A money market account is a type of savings account that's interest-bearing (meaning interest is paid to you!) This account combines the benefits of both savings and checking accounts where you can earn interest, have check writing privileges, and use a debit card to access your funds.
The interest rates on money market accounts are typically higher than those of savings accounts, although this can vary depending on the bank or credit union. This is because money market accounts are considered to be a higher-yielding investment than savings accounts.
Money market accounts are ideal if you're looking for a safe, higher-return investment but prefer anytime access.
Nope! There are no monthly service fees, however some transaction fees may reduce earnings. Visit our TIS for more information.
You sure can! A Money Market allows you to anytime access your money (Compared to a CD)
Absolutely! Your deposits are insured up to $500,000 through the National Credit Union Administration (NCUA) and Excess Share Insurance Corporation (ESI)… at no additional cost to you!
Earn 1.25% APY* with a balance of $1,000 - $9,999
Earn 1.25% APY* with a balance of $10,000 - $24,999
Earn 1.25% APY* with a balance of $25,000 - $49,999
Earn 1.50% APY* with a balance of $50,000 - $74,999
Earn 1.75% APY* with a balance of $75,000 - $99,999
Earn 2.25% APY* with a balance over $100,000
APY stands for "Annual Percentage Yield," which is just a fancy way of saying it's how much interest we'll pay you for keeping this account at Skyla!
Not sure where to open your account? Get a breakdown of the difference in accounts at banks and credit unions.
Get an honest comparison between Money Markets and Certificate of Deposits to see which savings account is better for your financial goals.
If you're considering what to do with your money and where to park it safely, you may want to look into getting a Certificate of Deposit.
* APY = Annual Percentage Yield. Rates are subject to change. Please review our current rate list. Rates as of 12/01/2024. Dividends accrue daily and are paid monthly on all balances over $1,000. Minimum opening deposit is $1,000. Transaction fees may reduce earnings. Some restrictions apply.
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