Money Market Accounts
Maximize your savings
Money Markets frequently pay higher dividend rates while requiring a higher minimum balance. At RBFCU, we offer two Money Market options.
RBFCU Choice Money Market
More money, why not? It’s an easy choice. With higher rates available on a lower balance, the RBFCU Choice Money Market helps you earn more on less money. As your balance grows, take advantage of blended rates to maximize your savings.
Benefits and features:
- Minimum balance: $2,500
- Blended rate structure, resulting in higher earnings on balances from $0.01 up to $10,000, when the minimum balance is maintained. As your balance increases, previous rates are incorporated into your overall earnings.
- No monthly service fees
- Dividends paid monthly
- Earn up to 3X more earnings than the average Texas savings account*
*Independent research conducted by Datatrac and its partners. Based upon an analysis of 12,701 banking locations in Texas as of 10/28/2019. Analysis conducted using RBFCU Choice Money Market.
Which Money Market account is right for me?
RBFCU Classic Money Market$2,500
RBFCU Choice Money Market$2,500
Monthly service fee
RBFCU Classic Money MarketNone
RBFCU Choice Money MarketNone
RBFCU Classic Money MarketPersonal, Business
RBFCU Choice Money MarketPersonal only (One per tax-reported owner)
RBFCU Classic Money MarketPaid monthly
RBFCU Choice Money MarketPaid monthly
RBFCU Classic Money MarketSix electronic or over-the-phone outgoing transactions per account, per month; unlimited deposits or withdrawals at a branch
RBFCU Choice Money MarketSix electronic or over-the-phone outgoing transactions per account, per month; unlimited deposits or withdrawals at a branch
Balance below $2,500
RBFCU Classic Money MarketAccount is automatically reverted to a savings account rate
RBFCU Choice Money MarketAccount is automatically reverted to a savings account rate
How much can I earn with an RBFCU Choice Money Market?
How is this different from an RBFCU Classic Money Market?
With the Classic Money Market, you earn a flat dividend rate on your total balance. A Choice Money Market utilizes blended dividend rates, which apply higher earnings rates to lower balances. As your balance increases, previous rates are retained and incorporated into your overall earnings. See rate schedule above.
I already have an RBFCU Classic Money Market. Can I switch it to an RBFCU Choice Money Market?
Yes. You may close your Classic Money Market account and open a Choice Money Market account. However, only one Choice Money Market is available per tax-reported owner. There is not a limit to the number of Classic Money Market accounts you can own. This account will not be available to businesses (EINs).
How many RBFCU Choice Money Market accounts can I open?
Only one Choice Money Market account, per tax-reported owner, may be opened.
Can I open an RBFCU Choice Money Market for my business?
No. The Choice Money Market is not available for business accounts or any account using an EIN.
Is an RBFCU Money Market an investment product? Can it lose value?
An RBFCU Money Market account is not an investment product, nor will your funds be publicly traded. Your account is federally insured up to certain limits by the NCUA and will not lose value.
For blended tier rate accounts (RBFCU Choice Money Market), each tier of your total balance adds up to a blended Annual Percentage Yield (APY). RBFCU Choice Money Market accounts are limited to one per member as the primary owner. A member may be joint on multiple RBFCU Choice Money Market accounts. An RBFCU Choice Money Market account requires a minimum balance of $2,500. Earn the first tier on the entire balance up to $10,000 when the minimum balance is maintained.