Carthage Savings Blog

Are you interested in magnifying your earning potential? If so, you’ll need a flexible savings account that works as hard as you do. At Carthage Savings & Loan, our money market accounts do just that. They feature competitive interest rates, convenient access to your funds, assistance from our experienced staff and more. Here’s a breakdown of our money market accounts and how to get started.

What Is a Money Market Account?

A money market account is type of savings account that features favorable terms and higher interest rates, allowing your money to prosper in ways that traditional savings accounts cannot promise. And unlike other savings accounts, a money market account even gives you the ability to write checks and use a debit card up to six times per month, providing easy access your money when you need it.

With traditional savings accounts, the cash deposited is used to fund loans. On the other hand, money market accounts allow banks to invest that cash into low-risk programs, including government securities and certificates of deposit. So not only are you earning higher interest rates and watching your fortune evolve, but you’re also supporting the economy by opening a money market account.

Minimum Balance

At Carthage Savings & Loan, a minimum deposit of $2,500 is required to open one of our money market accounts. That is also the amount required for your minimum daily balance. And when you have at least $2,500 in your account, we waive the normal $5 monthly service fee, saving you even more.

Tiered Interest Rates

The more money you have in your account, the higher your interest rate will be – as long as your minimum balance is at least $2,500. With our tiered interest rates, you’ll be more and more motivated to make additional deposits and take advantage of a higher earning potential.

Benefits that Pay Off

In addition to the aforementioned advantages of a money market account, Carthage Savings & Loan also provides our members with a host of additional benefits that contribute to growing their wealth. These include:

• Complimentary eStatements so you always know where your account stands
• Unlimited transfers and withdrawals at one of our locations, by mail or at an ATM
• Three free checks per month, with each additional check thereafter costing just $3
• Six free transactions per month via debit card, check, telephone, draft and more
• Enhanced access to funds with free digital banking

How to Open a Money Market Account

It’s easier than you may think. If you have at least $2,500 on hand to deposit, you can start maximizing your savings potential by opening a money market account at Carthage Savings & Loan. Start by reviewing our attractive rates, which feature interest up to .49% and an annual percentage yield of up to .50%. Then, you can either open your money market account online, or you can stop into one of our locations to work one-on-one with our knowledgeable staff on getting started.

Sustain Your Financial Future

If a money market account sounds like an ideal fit for you, the time to open it is now. Whether this will be your first savings account or you already have $2,500 saved up in a traditional savings account, making this move will pay off in the long run. For more information, contact Carthage Savings & Loan today.