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Great Lakes Credit Union has everything you need to help manage your money and plan for the future.
To learn more about GLCU Free Checking plus Money Market tiers visit www.glcu.org/newrates.
When it comes to choosing between a Certificate of Deposit (CD) and a Money Market Account, it's all about understanding your financial needs.
CD's, which are referred to as "certificates" at credit unions, typically offer higher interest rates than Money Market Accounts. However, they require you to leave your money untouched for a specified period. If you anticipate needing to access your funds sooner, then a Money Market Account could be a better choice.
When you compare a money market account vs. a high yield savings account, both offer higher interest rates than regular savings accounts. The primary difference lies in access to your money.
A High-Yield Savings Account may require you to maintain a high minimum balance, and there could be restrictions on the number of transactions per month. Money Market Accounts, on the other hand, typically allow for more transactions and may provide check-writing privileges, offering an added level of convenience and flexibility.
Our Money Market Accounts come with a range of benefits designed to help you grow your savings:
Whether you're choosing between a CD vs. Money Market or a Money Market Account vs High Yield Savings Account, we're here to help. Visit a branch or give us a call at (800) 982-7850 and discover how we can help you meet your savings goals.
Tier1 | Dividend Rate | APY* | How to Open |
---|---|---|---|
$0-$2,500 | 0.000% | 0.00% | |
$2,500-$9,999 | 0.050% | 0.05% | |
$10,000-$24,999 | 0.100% | 0.10% | |
$25,000-$49,999 | 0.100% | 0.10% | |
$50,000-$74,999 | 0.150% | 0.15% | |
$75,000-$99,999 | 0.150% | 0.15% | |
$100,000-$499,999 | 0.200% | 0.20% | |
$500,000-$999,999 | 0.399% | 0.40% | |
$1,000,000+ | 0.499% | 0.50% |
Money Market vs Certificates of Deposit: Which is Better for your Saving Goals
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Click Here* APY = Annual Percentage Yield. All dividend rates and APY may change at any time, as determined by GLCU Board of Directors. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts.
1 A Minimum of $2,500.00 is required to open the account. You must maintain a minimum average daily balance of $2,500.00 to earn the above stated dividends.