A Savings Option for Higher Balances
A Money Market Account is designed for members who want their savings to work a little harder while still keeping access to their funds.
It offers tiered dividend rates, which means the more you keep in the account, the more you can earn over time.
How It Works
A Money Market Account shares some similarities with a standard savings account, but it’s typically used differently.
Where a Share Savings Account is often used for everyday saving and smaller balances, a Money Market Account is better suited for larger amounts you want to grow while keeping available.
You can still access your funds when needed, but the structure encourages maintaining a higher balance to take full advantage of the rates.
Things to Consider
Because this account is built around higher balances, it may not be the right starting point for everyone.
If you’re just beginning to save or prefer a lower balance requirement, a Share Savings Account may be a better fit to start. Many members begin there and move into a Money Market Account over time.
When a Money Market Account Makes Sense
This account may be a good fit if you:
- Maintain a higher savings balance (the minimum account balance for this account is $2,500.00).
- Want to earn more on your money over time
- Still want access to your funds without locking them in
- Are saving for a short- to mid-term goal
When it May Not Be the Right Fit
A Money Market Account may not be necessary if:
- You’re just getting started with saving
- You prefer a lower minimum balance requirement
- You don’t need tiered rate benefits yet
In those cases, a Share Savings Account and / or a Christmas Club Account may be a better starting point.
Local Service That Makes a Difference
At Harvest, we are locally rooted and here to help. Service stays personal. That means you can expect clear answers and support from a team that knows Licking County.
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