Funds in the Money Market Account will be transferred to your Checking or Share Savings account if the names listed on the account of the Money Market Account are the same. If this is not the case, a check will be issued to you to close your account and you will be notified in writing of this action. There are several convenient ways to deposit or withdraw from your Money Market account. When you open your Money Market account, you'll get a supply of Money Market checks to access your account for about a year, if you were to write the maximum number of checks allowed per month. Official MECU check made payable to a third party You can deposit as much as you want to in your MECU Money Account.
Interest is calculated by the average daily balance method.
The interest rate is variable and subject to change at any time by order of the Board of Directors. Typically, the interest rate on Money Market accounts will be between MECU's Share Savings dividend rate and its 12-month Certificate of Deposit interest rate. Interest will be posted to your account and you will receive a statement monthly. You may open accounts in person or by mail. Visit a branch or call our Telephone Service Center to request an application.