A money market fund is a type of mutual fund that is required by law to invest in low-risk securities. These funds have relatively low risks compared to other mutual funds and pay dividends that generally reflect short-term interest rates. (see www.sec.gov/answers/mfmmkt.htm)

A South Jordan Beehive Credit Union money market account is more formally known as a money market deposit account. A money market deposit account has some of the features of a money market fund. Both are somewhat flexible and relatively low-risk. Money market accounts and money market funds usually offer higher rates than a savings account.

There is, however, a major difference between these two types of investments. A money market fund is not an account, it is a mutual fund. It is not insured by the FDIC. Money market funds can decrease in value as they acquire expenses for which the fund’s investors are responsible.

South Jordan Beehive Credit Union offers different types of high-yield money market accounts for Utah credit union members.

Our online money market is perfect for people who want to earn the high interest rates associated with an Internet savings account. Withdrawals from the Online Money Market cannot be made in a branch. This high-interest money market account must be applied for and opened online. Our High Yield Money Market Account offers higher interest for higher balances. High yield accounts pay monthly interest on balances of $30,000 or more with a day-in-to-day-out computation method. South Jordan Beehive Credit Union is the first credit union to call when you want a high-yield checking account.

South Jordan Beehive Credit Union
10404 S. Redwood Rd
South Jordan, Utah 84095
http://www.beehivecredit.com
801-484-8811