At SAFE, we’re here to support you and cheer you on as you reach your savings goals. Whether you’re just getting started or building on what you already have, we’ve got options—from everyday checking and savings to longer-term plans like IRAs and certificates.
One option that doesn’t always get the spotlight is a money market account. That’s why we’re breaking it down for you, so you can see if a money market account is the right fit for your financial journey.
What is a Money Market Account?
You can think of a money market account like a hybrid between a savings and checking account. It offers higher dividends than traditional savings accounts while providing easy accessibility to your funds. SAFE money market accounts give you access when you need it: write checks, transfer funds online, or use the SAFE Mobile App.
Benefits of a SAFE Money Market Account
In addition to paying dividend rates higher than traditional savings accounts, SAFE’s money market accounts offer a number of other benefits.
- Dividends paid monthly: Dividends from the money market account are earned on a monthly basis.
- Avoid monthly service fees: We won’t charge monthly service fees on average daily balances of $2,000 or more.1
- Free online banking and SAFE Mobile App: You can access and manage your account directly on your smartphone whenever you’d like.
- Overdraft protection: You may select the money market account as the overdraft protection for your SAFE checking account.
- Check-writing: Access your money with check-writing when you need it most.
- Insured by NCUA: Funds are federally insured by NCUA to at least $250,000.
Is a Money Market the Right Choice for You?
A money market account can be a beneficial choice to add to your account mix. Here’s a way to think about it compared to other savings and checking accounts.
- Savings accounts. A money market account generally pays higher dividends than traditional savings. You can make purchases from the account using checks. Like a savings account, you can add and withdraw money at any time, as well as access the account through Online Banking and the SAFE Mobile App.
- Checking accounts. While you may write checks from a money market account, you are not able to make ACH transactions from it. That means it can’t be used as a main spending account to pay bills or make purchases electronically.
- Whereas a certificate allows you to set aside money for a specific term, funds in a money market account are available to you at any time. In some cases, the dividend rates on certificates and money market accounts are comparable.
If you would like to learn more about how a money market account can work for your savings goals, we’re ready to help. Consider scheduling an appointment with a SAFE representative at a branch or through our Contact Center so we can dedicate the time to have a conversation about money market accounts. You can also explore SAFE’s money market accounts on our website.
Learn More
Learn more about SAFE’s money market accounts.
1 $12 monthly service fee waived if average daily balance equals $2,000 or more, or for Capitol Club.
