Money Market
FirstLight money market accounts allow higher dividends than regular share accounts because the rates are adjusted monthly. These adjustments are based on shifts in short-term money market rates such as treasury bills. A minimum opening balance, plus a minimum balance that must be maintained to earn the higher rate, and some restrictions on how the account may be used are present to allow for higher dividends. For example, federal regulations allow you to make no more than six transfers per month, but a money market account is a great way to earn more!
- $2,500 minimum opening deposit
- Dividend rates are variable and are based on the average daily balance kept in the account
- Dividends are paid monthly and statements are issued quarterly
Business Money Market
A money market account is a savings account that allows for a much higher rate of return provided the daily average balance of $2,500 is maintained. A lower dividend rate will be paid if that balance falls below the $2,500 requirement. At FirstLight, you'll find a business money market account is the perfect way for you - and your business - to move beyond banking!
*These services are only available to the new Business Savings Account and any if the following business accounts: Simply Start-Up Business Checking, Simply Business Checking and Simply More Business Checking
**Disclaimer: Business Accounts are not eligible for Shared Branching or Privilege Pay
FirstLight FCU does not offer Federal Tax Payment services
