Mayfair Federal Credit Union has a money in the bank opportunity with their money market account offering the best interest rates. The following are the current money market rates:

• $10,000 to $49,999.99      1.06% APY
• $50,000 and above            1.10% APY

The credit union will require you to deposit a minimum of $10,000 to open a money market account. You are also required to maintain this balance or have a higher deposit in order to earn these best interest rates. This money market deal allows you to make up to 6 transfers or withdrawals per statement. You can process your transfer or withdrawal through check, pre-authorized, debit card, in person, draft, telephone, and online.

You can also take advantage of monitoring your account using online banking. You can even pay your bill anytime online for free. Get the latest statement by subscribing to electronic bank statement. Best of all, the bank provides free check on your first order. Please note that the earnings of this money market account may change once account is opened, so make sure to contact the credit union and get the latest money market rate information with them.

Mayfair Federal Credit Union membership is open to individuals who live, work, attend school, or worship, and businesses and other legal entities located in Pennsylvania state in northeast of Philadelphia including the eastern boundary starting in Delaware River Bridge Road to Castor Avenue. Immediate family members which includes spouse, children, parents, siblings, grandparents, grandchildren, and household members are also eligible to join.

You are required to visit one of the credit union’s branch to apply for membership and open an account. The credit union has 2 branches in Philadelphia, Pennsylvania. You are also required to bring valid picture ID like social security card, passport, driver’s license or state issued identification. If you still have questions or concerns with regard to their membership eligibility or their current money market rates just call customer service line at 215-289-1415 or 215-335-1201.

Mayfair Federal Credit Union was organized in 1936 and was first named as Frankford Arsenal Employees Federal Credit Union. In 1990, their name was changed to Mayfair Federal Credit Union and their office was moved to St. Vincent Street. The credit union is also registered with the National Credit Union Association and has a charter number 1664.