Money Market

The money market account is great way to earn a higher interest rate than a conventional savings account.

You can use it just like any other savings account, but you are required to have a minimum balance of $500, which is lower than what most financial institutions require.

Accessible - You can deposit or withdraw money from your account directly from your local branch, using the ATM, or with your VISA debit card, or by phone using Latino Direct, 1-866-USE-LCCU.

Flexible - The money market account allows you to deposit, withdraw or close the account at any time.

No risk - Your deposits are insured up to a maximum of $250,000, through the National Credit Union Administration (NCUA), a U.S. government agency.

What do I need to open a Money Market Account?

To use Latino Community Credit Union’s services you must first become a member.

To become a member, you will need to:

• Present a government issued photo identification card from any country
• Open a savings account with the minimum deposit
• Become a member of the Latino Community Development Center, a non-profit organization whose mission is to provide financial education to the Latino community

The Money Market account earns interest, so you will need a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN) to pay taxes in the United States. Any of our representatives can help you apply for an ITIN.

How much money do I need to open a money market account?

The initial deposit and minimum balance are $500, but is subject to change. Please talk to your representative for the most current requirements.

What is the current rate?

Check with your representative to get the current rate.

What happens if my balance drops below the minimum balance?

You will be charged a monthly fee until your balance goes above $500.

Accessible - You can access your money market account with your VISA debit card wherever the following are accepted:

Ask a member service representative about opening a Money Market Account today.

All accounts are federally insured up to $250,000 through the National Credit Union Administration (NCUA).