Money Market Accounts

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Money Market Accounts for Carthage, Clayton, and Watertown, NY

Money market accounts at Carthage Savings are a great opportunity for those looking for the maximum earning potential with flexible access to funds. With our tiered interest system, more money saved is more money earned.

What is a Money Market Account?

A money market account functions similarly to a savings account, with a relatively higher interest rate. This rate is based on current interest rates in the money markets, the sector of the financial markets consisting of short-term lending and borrowing transactions.


With such an account, you have fluid access to your balance with added interest accrual. We offer a tiered system so higher balances earn a higher percentage return. View our detailed rate information here. Our money market accounts come with free online and mobile banking services, free eStatements, as well as unlimited in-person or ATM withdrawals and transfers. You can even write three free checks per month against your account as well as using additional checking at a $3 per-check fee. Carthage Savings' money market accounts offer better returns with minimal effort to the client. Your balance can grow on its own while you maintain the ability to withdraw at any time without penalty.

Money Market vs Traditional Savings

Money market accounts offer higher interest rates but require a minimum balance to achieve their returns. If a balance is expected to remain under $2,500, it won't earn interest in a money market account and would be subject to a $5 monthly fee. In this case, your money would be better off in statement savings with a fixed yield. However, as you grow your money market balance past this threshold, the monthly fee is waived, and your returns will climb beyond those of a traditional savings account. The option of checking is also a benefit of money market accounts, which most standard savings don't offer. If you expect to maintain a balance above the minimum opening deposit, a money market account offers the higher earning potential.

How To Apply

Our quick online application process only takes about ten minutes, and you'll be the holder flexible account designed to grow your savings.

  • Competitive, tiered rates starting on balances of $2,500
    • Higher balances earn higher rates
  • Avoid $5 monthly service fee by maintaining a $2,500 minimum daily balance
  • Enjoy flexibility with enhanced access to funds including direct check writing:
    • Unlimited transfers and withdrawals made in person, by mail, or at an ATM
    • 3 free checks per month; $3 per check thereafter
    • 6 free transactions per month by pre-authorized automatic, telephone, checks, drafts, debit cards, or other similar order*
  • Free online banking
  • Free mobile banking
  • Free eStatements
  • $2,500 minimum deposit to open

*Federal regulations limit the number of certain types of transactions from interest bearing accounts. You are limited to six pre-authorized electronically funded transactions, including online transactions, per statement cycle. Each transaction through Carthage Savings online from your Savings or Money Market account is counted as one of those transactions.

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