Keyword Analysis & Research: money market safe credit union


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Frequently Asked Questions

What is a money market account at a credit union?

Answer: A money market account is a special type of account offered by banks and credit unions. Like a regular savings account, a money market account at a bank is insured by the Federal Deposit Insurance Corporation (FDIC), while one at a credit union is insured by the National Credit Union Administration (NCUA).

How safe is a money market account?

Both money market accounts and money market funds are relatively safe. MMAs are insured up to $250,000 per depositor by the FDIC. 1  Banks use money from MMAs to invest in stable, short-term, low-risk securities that are very liquid.

Is my money safe in a credit union account?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank. Should I consider time deposits?

Is a money market account FDIC insured?

Money market accounts are sometimes called money market deposit accounts or money market savings accounts. Like a regular savings account, a money market account at a bank is insured by the Federal Deposit Insurance Corporation (FDIC), while one at a credit union is insured by the National Credit Union Administration (NCUA).

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