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Best Money Market Account Rates, News and Information

Money Market Account Rate Deal of the Day: San Jacinto Area Credit Union at 0.50% APY

Money Market Account Rate Deal of the Day: Midland Credit Union at 0.55% APY

Money Market Account Rate Deal of the Day: G.I.C. Credit Union at 2.00% APY

Money Market Account Rate Deal of the Day: Washington Community Federal Credit Union at 0.75% APY

Money Market Account Rate Deal of the Day: Advantage Credit Union at 1.01% APY

Money Market Account Rate Deal of the Day: Members First Credit Union at 0.80% APY

Money Market Account Rate Deal of the Day: Gundersen Lutheran Credit Union at 0.85% APY

Money Market Account Rate Deal of the Day: Northern Tier Federal Credit Union at 0.50% APY

Money Market Account Rate Deal of the Day: Self-Help Credit Union at 0.87% APY

Money Market Account Rate Deal of the Day: Waterbury Connecticut Teachers Credit Union at 0.80% APY

Learn More About Money Markets Accounts

Money market accounts are similar to checking accounts, but they allow consumers the opportunity to make returns on deposited money. They are often compared to mutual funds; however, they are considered safer because they keep share prices at $1.

Money market accounts can be acquired through almost any local financial institution. As with checking accounts, opening money market accounts give you immediate and regular access to your funds through a checkbook. Also, they require no minimum transaction amount and allow for fast and easy cash deposits.

Once you invest in a money market account, a money manager will take your cash then invest it in t-bills, bonds, CDs, commercial papers or mutual funds. After interest is earned on your investment, the manager pays you your portion of the earnings. Unlike CDs that have interest rates that mature over time, money market accounts require additional deposits to benefit from higher interest returns.