What is a Money Market account?
A money market account is a type of savings account that typically pays a higher rate, and also provides limited check-writing ability; therefore, offering benefits typical of both savings and checking accounts. This type of account requires a higher balance, and in return higher rates. Please refer to our rates for current information.

Are Freedom First Money Markets insured?
Yes. Money Markets are insured up to $250,000 and backed by the full faith and credit of the United States Government under the National Credit Union Administration (NCUA), just like federally insured bank deposits are covered by the FDIC.

Do I have to maintain a minimum balance on my Money Market account?
To avoid incurring an account maintenance fee, you will need to keep at least $5,000 in your Money Market account. See the consumer fee schedule for details.

How many withdrawals may I make from my Money Market account?
You can make up to 6 pre-authorized or automatic withdrawals from your Money Market account during each statement period, which is approximately one month in length. No more than 3 of the 6 transfers can be made by check, draft, debit card, or similar order to a third party. If you exceed these transaction limits, your account may be closed. If you would like an account that allows you to withdraw more often and/or make more frequent debit transactions, then we recommend opening a checking account.

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