Money Market Account Disclosure
Rate Information — Find current rate information here.
Frequency of Rate Change — We may change the interest rate on your account at any time.
Determination of Rate — Rate will be based on the average yields of the various money market rates for Central Missouri financial institutions as reported by Bank Rate and/or Data Track.
Compounding and Crediting Frequency: Interest will be compounded every month. Interest will be credited to your account every month.
Interest Period — The interest period is monthly. The interest declaration date is the last day of the month. If you close your Money Market Account before interest is paid, you will not receive the accrued interest nor will it be posted to your account on the last day of the month.
Minimum Balance to Open the Account — You must deposit $1,000.00 to open this account and maintain an average daily balance of $1,000.00 to earn the disclosed interest rate. There is no minimum balance to maintain.
Daily Balance Computation Method — We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the balance in your account each day and is credited to your account monthly on the last day of the month.
You must maintain an average daily balance of $1,000.00 in your Money Market Account to earn the disclosed interest rate and annual percentage yield. No interest will be earned on the day(s) your ending balance is below $1,000.00.
Accrual of Interest on Non-Cash Items — Interest begins to accrue on the business day you deposit non-cash items (for example, checks) to your account.
Transaction Limitations — During any calendar month, you may not make more than six withdrawals or transfers or debits from your Money Market Account to another credit union account. If you exceed the transfer limitation set above, your account will be charged $10.00 for each item that exceeds the limit.
Fees — Any other applicable fees or restrictions for this account are listed in the Terms and Conditions of Your Accounts disclosure.