Indexed money market accounts are like passbook savings accounts, but typically pay a higher rate of interest. IMMAs are traditionally offered through a bank and money market funds are typically offered through brokerage firms. Shop around for the best interest rates and account features. For example 24-hour access to the funds over the phone and from an ATM allows you quick and easy access to your funds. Ensure the advertised or quoted interest rate of an IMMA applies to the minimum required balance.
Some banks advertise rates that apply to larger balances.
U.S. Bank is a member of Federal Deposit Insurance Corporation.