High Yield Money Market Accounts - Genisys® Credit Union

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Money Markets AccountsGenisys Credit Union rates page

Money Market Savings Account

Earn a higher rate on your savings and maintain liquid access to your funds with a Genisys Money Market Account. 

Our Money Market Account (also referred to as a high yield savings account, or HYSA)  combines the advantages of higher-than-average money market account rates with the flexibility to withdraw funds when you need to and security of federal insurance by the National Credit Union Share Insurance Fund.

Enjoy the security of a risk-free savings environment.

Jumbo Money Market Account

If you have balances of $250,000 or more and still want the flexibility of having access to your funds, this account is for you.  Earn a higher rate and keep the flexibility to withdraw your funds when needed.

Note: Dividends are computed daily, paid and compounded monthly

If you’re a serious saver, consider the comparison of money market accounts vs. savings accounts.
You can earn higher rates in a money market account.

  • The rate you earn will increase when your balance reaches higher tiers.
  • You retain the freedom to withdraw funds when needed and can make electronic withdrawals or transfers from either account.
  • Both accounts are federally insured.

College Rewards Money Market Account

If you are in college now or heading there soon, Genisys has a special money market account for you.  As a college student, you are eligible for the College Rewards Money Market, a special HYSA bank account available to students that open a Checking account and sign up for eStatements.

  • $100 minimum balance to earn dividends
  • Dividends earned based on a seven-tiered rate structure

If you’re considering opening a student bank account or student checking account, you should also consider the College Rewards Money Market account so you can earn money market account rates on your hard-earned savings.

Open a Money Market Account Today!

  • Open using Online Banking
  • Open at a branch
  • Call a Financial Services Representative at 800-521-8440, ext. 5

Money Market Account FAQs

What is a money market account?

A money market account is a type of high yield savings account (or HYSA) that is designed for long-term storage of your money, but with the added benefit of higher money market interest rates to help your savings grow even farther than before.

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

Money markets and savings accounts seem similar at first, but offer a few crucial differences. One of the biggest is the difference in interest rates - money market accounts and other types of HYSA accounts tend to offer a higher interest rate overall, as well as increasing interest rates as your balance increases, whereas most savings accounts tend to remain static in their interest rates over time, at least in relation to your balance.

Additionally, money market accounts tend to require a higher minimum balance and deposit amount than savings accounts. This balance is required to maintain the overall rate of growth, and as the balance increases you can earn greater interest and dividends on the balance in your account. 

How does a money market account work?

Money market accounts work like a standard savings account, but with much higher interest rates and the flexibility to let you access your money when you need it. As deposits are made into your money market account, interest is paid periodically on your current account balance. The biggest difference with money market accounts, however, is that the interest rate will actually go up as your account balance goes up. By saving more money in your money market account, you can watch it grow even faster with a higher interest rate.

What is the interest rate on a money market account?

Interest rates for money market accounts depend on a variety of factors, and will actually increase as the balance in your account goes up. For the most up to date information on current money market account interest rates, check out our current interest rates.

How is interest compounded on a money market account?

Money market accounts compound interest daily and pay monthly. The interest rate on a money market account tends to be higher than in standard savings accounts, and will increase as you place more money into the account.

Can you direct deposit into a money market account?

As a Genisys member, you can elect to have a percentage of your paycheck directly deposited into your money market account, as well as any other savings accounts or checking accounts you may have with us.

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