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SAVINGS ACCOUNTS
Personal Money Market Account
The more you save, the higher your dividend rate.
Put your money to work for you.
With a Money Market account, you'll maintain access to your funds while earning compounded interest paid monthly to your account. Tiered rates allow higher returns with higher balances.
View tiers and ratesAPY as high as
2.00*
with no term requirements
No fees with a low minimum balance.
No monthly service fee when you maintain a $2,500 daily balance.
Higher balances earn higher returns.
Earn higher dividends for higher balances with tiered interest rates***.
Funds when you need it most.
Access your funds anytime via online banking, check writing, and teller withdrawal.**
Money Market Rates
| Minimum to Open | Minimum Balance | Interest Rate | APY | Minimum to avoid service fee |
|---|---|---|---|---|
| $2,500 | $0-2,499.99 | 0.250% on entire balance | 0.25% | $2,500 |
| $2,500.00-9,999.99 | 0.349% on entire balance | 0.35% | ||
| $10,000.00-24,999.99 | 0.499% on entire balance | 0.50% | ||
| $25,000.00-49,999.99 | 0.995% on entire balance | 1.00% | ||
| $50,000.00-99,999.99 | 1.490% on entire balance | 1.50% | ||
| $100,000+ | 1.982% on entire balance | 2.00% |
* Truth in Savings Disclosure – Savings Accounts
*Rates effective .
The Truth in Savings Account Disclosure sets forth certain conditions, rates, fees, and charges applicable to your Account(s) at Smart Financial Credit Union and are incorporated into your Account Agreement with us.
All accounts are subject to membership eligibility requirements.
The following disclosures apply to Share Savings Accounts: Membership Share Savings, Smart Share Savings, IRA Share Savings, and Smart Money Market.
Except as specifically described, all accounts in this Truth-in-Savings Disclosure are share accounts.
Share Deposits are insured by the National Credit Union Administration (NCUA) up to a combined $250,000 per member-owner.
APY = Annual Percentage Yield
APR = Annual Percentage Rate
Refer to the Member Account Disclosures for additional details.
1. Rate Information. The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest to be paid on an account based on the interest rate and frequency of compounding for an annual period. For Membership Share Savings, Smart Share Savings, IRA Share Savings, and Smart Money Market, the Interest Rate and Annual Percentage Yield may change at any time as determined by the credit union.
The rates and APY provided in our Rate Sheet are accurate as of the effective date indicated on our website at smartu.org.
If you have any questions or require current rate information on your accounts, please call the Credit Union at (713) 850 – 1600.
2. Interest Compounding Method AND Crediting. A credit union must disclose the frequency with which dividends are compounded and credited and the dividend period. If members will forfeit dividends if they close an account before accrued dividends are credited, the disclosures must state that dividends will not be paid in these circumstances. A credit union must also include a statement that dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
For interest-bearing savings accounts, interest will be compounded and credited monthly on the last day of the month.
3. Funds Availability. For all accounts, deposits are subject to the credit union's Funds Availability Policy Disclosure found on our website at smartcu.org.
4. Accrual of Interest. For all accounts, interest will begin to accrue on noncash deposits (e.g., checks) on the business day you make the deposit to your account. Refer to the Member Account Disclosures for additional details. For all accounts, if you close your account before accrued interest is credited, accrued interest may not be paid.
5. Transaction Limitations. No transaction limitations apply to savings accounts.
6. Minimum balance requirements. The minimum balance requirements may include a minimum opening deposit and a minimum balance to keep the account open. You may be required to maintain a daily minimum balance to earn the stated Annual Percentage Yield (APY) for that account.
7. Membership. As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below.
Par Value of One Share – $5.00
Number of Shares Required – 1
8. Fee Schedule. See Smart Financial’s Fee Schedule for a listing of fees and charges applicable to your account(s) at smartcu.org.
Account Benefits
Money Market from Smart Financial
A Money Market account lets you earn a better-than-average interest rate, as long as you maintain a balance of $2,500. Withdraw money regularly, just like a normal savings account.
*Rates effective . Annual Percentage Yield (APY) is an annualized rate that reflects estimated earnings based on the dividend rate and frequency of compounding. Rates subject to change and apply to the entire balance. Returns are compounded and credited monthly. A $10 monthly service fee will be assessed if the average daily balance is less than $2,500.
**Money Market Accounts are limited to six (6) free withdrawals/transfers per calendar month. A $10 excess draw fee will apply per transaction. Limitations include withdraws initiated by preauthorization, automatic set-up, telephone, online, or overdraft. There is no monthly limit to transfers conducted in person, by mail, or at an ATM.
***Fees incurred may reduce earnings on the account.