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Money Market Accounts
Contents:
See also:
Money Market Account Description
First Financial's Money Market account affords you the opportunity to earn a dividend rate that is equal to or higher than that paid on our regular Share Savings account. At the same time, you are not locked into a fixed term or fixed rate as you would be if you had purchased a share certificate.
This account is ideal for members who are willing to give up the security of a fixed interest rate in order to have accessibility, without penalty, to their funds.
A minimum balance of $2,500 is required in the Money Market account. If the balance falls below $2,500, the account will earn our regular Share Savings
dividend rate. Dividends are calculated and compounded on a daily balance and are paid monthly.
Features
Easy access to funds without an early withdrawal penalty. Earn a higher dividend rate than our regular Share Savings account. -
The minimum initial deposit is $2,500.
Up to 6 withdrawals are allowed per month. There is no minimum transaction amount. Withdrawals are allowed by check, through audio response or through OnLine Teller. ATM access is
not available for this account.
Restrictions
- Money market accounts cannot be used to secure a hypothecated loan (share loan).
- Money market accounts may not be used as overdraft protection for any other accounts.
Money Market Application Form * (Requires Adobe Acrobat)
Differences Between Money Market, Money Manager and Share Certificates:
| Money Market |
Money Manager |
Certificate |
| High Variable rate |
Higher Variable rate |
Highest Fixed rate |
| $2,500 minimum deposit |
$10,000 minimum deposit |
$500 or $2,000 minimum deposit |
| No term |
No term |
Fixed term: 6,12, 18, 24 or 36 months |
6 withdrawals allowed per month
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6 withdrawals allowed per month
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No withdrawals allowed without closing the account |
| No minimum withdrawal or deposit amount |
No minimum withdrawal or deposit amount |
90 or 180 days interest as the early withdrawal penalty |
| Cannot be used for a hypothecated loan |
Can be used for a hypothecated loan |
Can be used for a hypothecated loan |
For fees and conditions for these accounts refer to the Important Policies
and Schedule of Fees
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