What is a Money Market Account?

• A Money Market Account is a savings account that offers a higher rate of return on your money than a standard savings account and are more flexible than certificate accounts.

How do I open a Money Market Account?

• As long as you have a current Share Saving Account, we can open a Money Market Account for you during one of your visits to OCFCU or log on to It’s Me 247 Online Banking.

Once I open a Money Market Account can I add additional funds?

• Yes, you can add to your Money Market Account at any time.

What dividend rate will I earn at the end of the month?

• Dividends on these accounts are tiered and paid monthly on an average daily balance of $1000 or more.  If your balance is below $1000, the account will not earn dividends.

Are there any fees with this account type?

• No.  There are no monthly fees associated with this account.

Are accounts NCUA insured?

• All accounts are NCUA insured up to $250,000 per ownership category.

Is there a limit to the number of withdrawals I can make?

• You may make up to 3 withdrawals, without any fees, on this account per month.
• Regulation D limits Money Market Account to six restricted withdrawals per month.  After the sixth restricted withdrawal, you will be charged a fee per restricted withdrawal. See Regulation D and Fee Schedule for details.

Is there an ATM card associated with this account type?

• No, this account cannot be accessed through the ATM network.

How do I keep track of my Money Market savings?

• OCFCU will send you a quarterly statement showing your account activity unless there is an Electronic Funds Transfer (EFT) associated with this account. Use our It’s Me 247 Online Banking or Mobile Web Banking to check on account balances and transactions.  You can also call CU*TALK, our automated account information line at 1-800-860-5704.