First Community Credit Union Money Market Accounts

What Is a Money Market Account?

A money market account (MMA) sits between a standard savings account and a share certificate in both yield and flexibility. You earn a higher dividend rate than a regular savings account — especially at higher balance tiers — while keeping the ability to write checks and make transfers when needed. At First Community Credit Union, money market accounts are deposit accounts federally insured by the NCUA, with no exposure to market movements whatsoever.

Money Market Account vs. Money Market Fund: A Critical Difference

These two products share a name and almost nothing else. A money market account at a credit union is a federally insured deposit product. The NCUA guarantees your principal up to $250,000 per ownership category. Market conditions have no bearing on your balance or your rate.

A money market fund is an investment vehicle sold by brokerages that pools money to purchase short-term securities. It is not NCUA or FDIC insured. Its value can technically fall below $1.00 per share — known as "breaking the buck" — during extreme market stress. It has happened. If you want meaningful yield without any risk to principal, a credit union money market account is the right tool.

Four Balance Tiers, Four Rates

Our money market account uses four tiers. Your entire balance earns the rate for the tier it falls in — there is no complex blended rate calculation. A balance of $30,000 earns 3.40% APY on the full amount. Build to $50,000 and the full balance earns 4.25% APY. If your balance drops to a lower tier during the month, the rate adjusts in real time and dividends accrue daily.

Check-Writing Access

Unlike standard share savings, money market accounts at First Community include a checkbook. Write checks for large purchases, estimated tax payments, or any situation where you want a paper trail. Each check counts toward your six monthly electronic withdrawal limit, so most members use this feature for infrequent large transactions rather than day-to-day spending.

Monthly Withdrawal Guideline

Federal Regulation D historically capped convenient withdrawals from savings-type accounts at six per monthly cycle. The Federal Reserve suspended mandatory enforcement in 2020, but First Community Credit Union maintains a six-transaction guideline for money market accounts as part of account terms. Branch and ATM withdrawals do not count toward the limit. Members who need more than six electronic transactions monthly are better served by a checking account.

NCUA Insurance and Principal Safety

Your money market balance grows in one direction. Dividends post monthly. The account is NCUA-insured up to $250,000 per ownership category — individual, joint, IRA, and trust accounts each have their own coverage limits. No stock market gyration, no interest rate shock, nothing outside the credit union's own rate decisions can reduce your principal.

Money Market Rate Table

Balance Tier	APY	Min to Open	Monthly Fee	Check Writing
$0 – $9,999	0.75%	$0*	$0 (waived with $2,500 avg balance; $8 if below)	Yes
$10,000 – $24,999	2.10%	$0*	$0	Yes
$25,000 – $49,999	3.40%	$0*	$0	Yes
$50,000+	4.25%	$0*	$0	Yes

*Requires active Primary Share Savings membership ($5 minimum). Monthly fee of $8 applies if average daily balance falls below $2,500. APY = Annual Percentage Yield. Dividends compound daily and credit monthly. Rates effective 2026, subject to change. NCUA insured up to $250,000 per ownership category.

For regulatory context on savings account withdrawal rules, see the Federal Reserve's money and credit statistical releases.

Frequently Asked Questions

Is my money market account NCUA insured?

Yes. Our money market accounts are share deposit accounts, fully covered by NCUA insurance up to $250,000 per ownership category. Individual, joint, IRA, and trust accounts each carry separate coverage limits, so a member with multiple account structures may have coverage well above $250,000. Your principal has no market risk exposure whatsoever.

How many withdrawals can I make per month?

Six electronic withdrawals or transfers per monthly cycle — this covers online transfers, ACH debits, and checks written. Branch teller withdrawals and ATM cash withdrawals do not count. Exceed six in a cycle and the account may be converted to a checking account or restricted per account terms. If you need frequent access, a checking account is a better fit for your needs.

What is the difference between a money market account and a money market fund?

A money market account at First Community Credit Union is a federally insured deposit account — NCUA-guaranteed, principal protected, rate set by the credit union's board. A money market fund is an investment product sold through brokerages that invests in short-term debt securities. It carries no NCUA or FDIC insurance, and its value can fall. Sharing a name is where the similarities end.

Can I write checks from my money market account?

Yes, check-writing is included. You'll receive a checkbook at account opening. Each check counts as one of your six monthly electronic withdrawals. Most members use it for infrequent large transactions: property taxes, insurance premiums, contractor payments. For everyday spending, pair the money market account with a Free Checking account linked in online banking.

How do I open a money market account?

Membership is required — that means a Primary Share Savings account with $5 on deposit. Existing members can open a money market account in online banking in a few minutes with no branch visit. New members apply online, establish membership, and open the money market account in the same session. Call us at (800) 342-8575 with any questions.

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