How to Grow Your Money in a New Bedford Money Market Account

Grow Money New Bedford Credit UnionIt only makes sense that the more money you can put away for emergencies and save for major purchases, the easier it will be for you financially. When you join a credit union and become a member, there are lots of savings opportunities that can be used to help grow your money and set it aside for a rainy day. One of those ways is through a New Bedford money market account at St Anne Credit Union. When you join our credit union, you start by opening up a New Bedford Share Savings account. This is a special type of credit union savings account that helps members to build a relationship with the credit union. Once you are established, you can start saving in other ways, such as through a money market account or even a certificate of deposit in New Bedford.

A Popular Tool to Save Money

Many of our members enjoy the benefits of using a New Bedford money market account. It helps them to save more money, earn more interest, and be prepared for the big expenses and unforeseen emergencies of life. Money market accounts are a very popular choice in addition to the starter credit union savings account. Our members have many advantages over traditional banking institutions, some of which include:

  • Federally Insured – When you save your money at St Anne Credit Union, your deposits are insured up to at least $250,000 per individual depositor. The NCUA (National Credit Union Administration) is the independent agency that works to administer the NCUSIF or National Credit Union Share Insurance Fund. Similar to the FDIC Deposit Insurance Fund, NCUSIF is a federal insurance program that is fully backed by the United States Government. Credit unions that are protected by NCUSIF protection have never lost a single penny of insured savings funds.
  • Immediate Availability – Things happen. All of your best plans to start saving money for a down payment on a new house might have to be set aside due to a loss of income, a work-related injury, or a personal situation. With a New Bedford money market account, you can have access to your funds immediately without delay. In fact, account holders can make up to six withdrawals per statement cycle via check, debit card, or account transfer. Under a certificate of deposit in New Bedford (CD), your money is tied up for the term of the agreement, which can range from six months to five years, depending on the type of CD you select.
  • Healthy Interest Rates – The interest rate that you receive from St Anne Credit Union can depend on a number of factors, including the amount of money that you deposit initially and throughout the duration of your account. Speak with one of our representatives for more details, including current interest rates for money market accounts and other types of credit union savings account opportunities in New Bedford.
  • Flexible Finances – When you do reach your goal and want to make a large purchase, put a down payment on a new house, make important home improvements, or anything else, you have a lot of flexibility with a New Bedford money market account. Unlike a regular New Bedford Share Savings, you can access the funds by using a connected debit card, or you can transfer funds to another account, depending on your needs. Once again, it is best to speak with one of our agents to learn more about the details surrounding your options for this very versatile savings program.

The Benefits of Membership

When you become a member of St Anne Credit Union in New Bedford, you gain access to a lot of amazing financial tools that you can use to your advantage. It all starts with a credit union savings account, which is known as a New Bedford “Share Savings” or “Main Share” account. With just a minimum $25.00 deposit, you can establish your membership in the credit union if you live or work in either Plymouth or Bristol County in Southeastern Massachusetts.

Once you have a basic credit union savings account, you can then open a Share Draft Checking account with no service charge. A starter kit is available to our members that can help you understand all of the options available to you as a member of St Anne Credit Union. Give us a call at 508-993-0011 to speak with a representative or stop by our location at 93 Union Street in New Bedford, MA to become a member of our long-standing and popular South Coast credit union.