Delta Community Credit Union

invites members to enjoy the best money market rates that they offer. The money market deals are offered in several tiers:

$1000 – 10K 1.50% APY
$10K – 25K 1.75% APY
$25K – 50K 2.00% APY
$50K – 100K 2.10% APY
$100K+ 2.25% APY

These money market rates are in effect as of 17 June 2009. They usually update at the start of each month. It will be best to contact them to confirm the on going rates.

This money market account comes with an ATM and with a limited check privilege. The checks do not come for free. It might be helpful to visit the money market fee’s page

so you can compare the charges. The cost for excess transfers is a bit stiff at $20 each. There is no monthly service charge though.

Delta Community is open for members of the GettingAhead Association which requires a $5 membership fee for any one who might want to sign up. Interested individuals from any state may join this group. The union asks for a $5 deposit to a savings account.

Residents and employees from some Georgia counties from Atlanta can sign up outright. People may also be eligible via family or select employee group.

According to some members, application can be a lot faster if you visit one of their offices. They have branches spread across the metro of Atlanta. There are also offices in Cincinnati metro in Kentucky, Southlake in Dallas, Texas, and Salt Lake in Utah.

Delta Credit Union has a declared asset of around $2.9 billion. BauerFinancial gave the union a 5-star rating while bankrate.com issued 4 stars. The union is covered by the NCUA through charter number 66357.

The best money market rates may have fallen but UmbrellaBank’s Pot O’ Gold

remains very competitive offering consumers 1.80% APY for balances of more than $1000 while giving 1.85% APY for accounts with $50K or more.

Aside from enjoying the best money market rate, account holders will have check writing and ATM privileges. ATM cards can be issued upon request though every transaction will be charged $1.

Interested parties can apply using their secured online platform. Be sure to inquire about the rates since they may change any time. The rates posted here are accurate as of June 17.

Consumers may want to maintain the required $1000 minimum daily balance to avoid a monthly fee of $10. Interest is credited to the account every 10th of the month.

Account holders can check their transactions by getting an online statement or by downloading their account history from the website of the bank.

Like other money market accounts, this one is also limited to 6 non-ATM transfers per cycle. If you go beyond this limit, you will be charged $10 per transaction.

Umbrella Bank operates as an online division of the New South Federal Savings Bank headquartered in Alabama. The mother company is insured with the FDIC with certificate # 32276. The bank is not performing that well so it will be wise to stay within the limits of the FDIC.

Nationwide Bank

continues to offer their best money market rates at 2.00% APY for balances on all tiers. The bank imposes a monthly fee of $8 if the balance falls below $1000. The money market rates have dropped the past few weeks but this money in the bank deal is still very competitive.

Account holders can fund their investment via ACH services or by sending a check in the mail. This account has check writing privileges and comes with an ATM upon request. The first order of checks is also free.

According to the customer service rep, only a soft credit inquiry is done plus the identity verification using the ChexSystem. The bank added the rates may change any time so it will be best to call them first to check.

The ACH facility of Nationwide Bank allows transfer of funds from and to other bank accounts. Account holders can also link an unlimited number of accounts. As required by law, ACH withdrawal is limited to six transactions per month with every exceeding one being charged $5. Some consumers reported that the ACH facility is a slow and takes about 5 days.

The account also comes with perks like no surcharge when using the Allpoint ATM’s, and 2 free transactions per month with non-Nationwide ATMs.

Account holders can opt for paper or electronic statements. They can also download the account information in .OFX format if they are using any finance software.

The bank charges $15 for ACH transfer with next day completion. Incoming wire transfers are free while outgoing fees are set at $15. Deposits can also be sent via mail using posted envelopes paid by the bank.

Nationwide Bank is insured with the FDIC thru certificate number 34710.

Bank of Internet offers their best money market rates at 1.70% APY. This account can be initially funded for as low as $100.

The money market account comes with free checks for the first booklet. Account holders have the privilege to write 3 checks per month.

According to the promo page, the money market account with Bank of Internet does not impose any monthly fees nor does it require any minimum balance.

Another great feature of the account is the 5-year archive of paid checks and statements accessible through their online banking system.

This money market account does not come with an ATM and they also do not have an ACH transfer in place. An alternative for the account holder is to initiate ACH transfers from other banks.

This money in the bank offer appears to be available on all states. An application can also be completed online.

Bank of Internet USA is insured with the FDIC through certificate # 35546. It received 3 stars from Bankrate.com and 4 stars from BauerFinancial.

Umbrella Bank offers a tiered money market account which starts at 2.12% for deposits of up to $10K. A yield of 2.25% APY applies to accounts with balances of $10K to $25K. The money market rate of 2.50% APY is gained by accounts with deposits of $25K and higher.

This best money market account can be opened with an initial deposit of $1000. The interest of this money market account is compounded on a daily basis and credited every month.

Other perks of the account include convenient checking privileges, ATM card upon request, and electronic statements that can be reviewed online 24×7.

A service fee of $10 is collected if the balance of the account drops below $1000. Transfers from the money market account to other accounts or banks are limited to six transactions per month. A fee of $10 per transfer is collected if it exceeds the cap.

The Umbrella Bank is the internet division of the New South Federal Savings Bank headquartered in Alabama. The New FSB is insured with the FDIC through certificate # 32776. Reviews about the bank are not that good. It will be safe to stay within the limits of the FDIC.

CapitalOne Direct Banking offers 1.80% APY money market rate for money market accounts with balances of at least $100. The initial deposit for this money market account is $1000.

This money market account comes with interest credit bonus for Costco members. This money market bonus amounts to $60 for Executive members and $20 for Business and Gold Star members. Account holders must be able to put in $5000 money in the bank to avail of this benefit. The account must also be the first through Costco.

The interest credit will reflect in your account as interest gained after a month or six weeks upon funding of the account.

An online application can be done through a safe portal. The disclosure does not indicate if they will be doing a hard credit pull. It will be wise to verify this plus the current rates which may change any time.

The rate of this bank deal may sound low but is still very competitive in the current money market environment.

Direct Banking is the online division of Capital One. Capital One is insured with the FDIC.

The Everbank through their Yield Pledge Money Market account offers a bonus rate of 3.51% for new money market account holders for their first three months. The first year APY is 2.16%.

The bonus rate is offered for the first $50000 of the account but the 2.16% APY represents the total annual yield. The bonus best money market rate is combined with the 9 months of current rates to get the yearly gain of the account.

Interested individuals can open this money market account for a minimum deposit of $1500. A service charge of $4.95 is collected if the balance of the money market account drops below the $1500 requirement.

This account comes with free online banking.

Everbank is one of the larger online banks with a good asset base of around $6 billion.

The bank is insured with the FDIC through certificate # 34775.

Corus Bank invites consumers to take advantage of the benefits of their Ultimate Money Market account which yields 2.30% APY. It only takes $100 to open this money market account.

Like other money market accounts, this one is also limited to three checks per statement as required by the federal law. Free checks come when you open an account.

This offer is available nationally. The bank’s representative informed us that no hard credit pulling is done. Corus Bank requires sending in a copy of the account holder with the check for funding upon opening.

One of the downsides of this money in the bank deal though is the minimum balance requirement of $10000 or $20K average to avoid their imposed monthly fees.

Corus Bank has no ACH transfer in place but they can be initiated from your other bank accounts. Wire transfer is free for incoming and is charged $25 for outgoing.

The interest is compounded on a monthly basis and credited on a same interval. Account statements are mailed on a monthly basis with no option for online statements.

Corus Bank has offices spread across the Chicago area. This bank has been affected by the bursting of the mortgage bubble. It will be best to stay within the limits of the FDIC.

The bank is covered by the FDIC through certificate # 13693.

Flagstar Bank pushes for their Express Money Market account with a good money market rate of 2.40% APY. This rate is offered to all tiers of balances.

Consumers can enjoy some advantages with this one compared to the one offered by GMAC or Zion. The money market account with Flagstar comes with check writing privileges and free checks for life. It also does not impose any minimum balance requirements.

Other perks include free use of ATM at Presto! And Allpoint outlets. The bank will also give you paid postage envelop for your deposits. The money market account can also be funded through free wire or by sending in a check.

After the initial funding, ACH transfers charge $20 for outbound and $10 for inbound. The ACH transfer system will be available upon establishment of the account.

Application for this money market account can be accomplished online. The bank will ask the consumer to send in a signature card. Beneficiaries of the account can also be declared upon application.

The only downside of this account is the ACH transfer limit. Next day premium ACH transfer initiated through Flagstar is capped at $2K/day or $5K/month. The standard ACH transfers which takes 3 days to complete has a ceiling of $15K/day and $25K/month.

You may want to call the bank to verify if the credit pull they do with Transunion is a soft or hard pull. It will also be wise to check on their current money market rate since this can change any time.

Flagstar bank has offices in Georgia, Indiana, and Michigan.

The ADB Bank offers their best money market rate for its Direct Wealth Money Market program. The account earns 2.50% APY given on all balances.

This money market requires no minimum balance nor does it collect any monthly fees. It also comes with free first booklet of checks and free use of the online bills payment system. The account limits third party withdrawal to six times per month.

The money market rate is offered nationally. Interested individuals may apply for it online.

The ADB money market earnings have fallen over the past few weeks but remain to be very competitive in the current market situation.

Some consumers reported weakness in the ACH transfer set up of the bank. ADB Bank requires an electronic fund transfer form to be sent to them so they can set up links between accounts. One option to explore is to initiate an ACH transfer from another bank.

It will also be wise to call the bank customer service and confirm if they do a hard credit inquiry upon application to the Direct Wealth Money Market.

The ADB Bank is headquartered in Cedar City in Utah. The bank received 4 stars from BauerFinancial and 3 stars from Bankrate.com.

The bank is covered by the FDIC thru certificate 57962.