MOORE MONEY MARKET ACCOUNT
Minimum Balance of $2,500
Dividends paid monthly
Up to three (3) withdrawals monthly
This alternative investment allows you the convenience of liquidity, no set-up fees, monthly dividends and a higher yield than our regular share account.
Moore Money Market Account Terms and Conditions: Moore West Federal Credit Union's money market account lets you deposit and withdraw your money at any time.
Rate Information: Our money market account is designated as a variable rate account on our Rate Schedule. This rate and yield may change monthly at the Credit Union's discretion.
Minimum Balance and Deposit Requirements: The minimum deposit required for you to open your money market account is $2,500 and you must maintain this minimum daily balance in order to obtain the annual percentage yield stated on the Rate Schedule and to avoid fees and or closure.
Annual Percentage Yield: The annual percentage yield is based on the assumption that dividends will remain on deposit for one year. If you make a withdrawal from your account, your earnings will be reduced.
Dividend Compounding and Crediting: Dividends will be compounded monthly and will be credited monthly.
Transaction Limitations: The maximum number of withdrawals you may make is three (3) per month. If you exceed the transfer/withdrawal limitations in any month, your account will be subject to the fee stated in the Fee Schedule ($10 each). The minimum withdrawal/transfer is $500 each.
Exceptions to penalties: The penalites stated above will not apply if: 1. The withdrawal is made subsequent to the death of any owner of the money market account, or is made pursuant to the Credit Union's bylaws. 2. Such withdrawal is made as a result of voluntary or involuntary liquidation of the Credit Union issuing the account.
Unclaimed Property Law-California: The holder(s) of the account shall inform the Credit Union of any change in their address(es). The shares and accumlated dividends earned thereon will escheat to the State Controller if, after three years: There has been no account activity; or there has been no written communication by you; or there has been no other communication with you noted in writing by the Credit Union.