Pepco Federal Credit Union headquartered in Washington, D.C. is pushing for their best money market account. This money in the bank deal earns you the top money market interest rate of 1.07% APY just by opening an account.

The credit union requires you to make an initial deposit of $3,000 to open an account. You also need to maintain this balance to avoid monthly service fees and at the same time earn this best interest rates. The earnings of this money market account is calculated daily and paid on a quarterly basis.

Please be reminded that once the account is opened the current interest rate may change, so make sure to ask the credit union for the latest money market rates.

It seems that you will have to visit one of the credit union’s office to open this best money market account. They also let you manage your account by enrolling to internet banking and even pay your bills online. You can also call their customer service line if you have questions with regards to detailed information with their money market account and current interest rates thru 800-553-7328.

Membership with Pepco Federal Credit Union is open to employees, retirees or even previous employees of Potomac Electric Power Company or their other corporate affiliates in the state of DC, Virginia, or Maryland. Members who has relatives are also eligible to join the credit union. The website does not mention any thing about membership fee, but it will be better to ask the credit union about the fees and also the list of their field of membership.

The credit union has branches in Edison Place and Benning Road in Washington, DC.

Pepco Federal Credit Union has been providing its service to its members since 1935. They already have over $30.8 million in declared assets. The credit union is federally insured by the National Credit Union Association with charter number 367.