If you’re not quite ready to put $100,000 in the bank, but you would like a high yield money market account, Chemcel Federal Credit Union’s money market rates might suit your needs more. Chemcel FCU’s MMA can earn as much as 1.20% APY for balances of $75,000 or more. The lower tiers are also attractive at 1.10% for $25,000 to $74,999 and 1.00% for $2,000 to $24,999.

Unlike CD accounts which earn annual percentage yields close to this money market rate, you won’t be tied to do the bank for a long time. As soon as you’ve earned enough from your funds, you may choose to pull it out anytime. Of course, with a money market rate like this one, there’s really no reason why you shouldn’t want to watch it grow.

These interest rates can change anytime, though. As a matter of fact, while it remains competitive, this yield already dropped by 0.05% since last month. You would want to keep tabs on this MMA before you open an account. The website has a page which lists the qualifications for this account. You may also visit a nearby branch to make inquiries, or call the credit union’s hotline.

Interested parties can call (361)5846246. The main office of this credit union is located in Bishop, Texas. Credit union has branches include those in Kingsville and Corpus Christi.

Their ratings are a bit weak for safety and soundness, though. The credit union only scored two stars from both Bankrate.com and BauerFinancial.com. The weak ratings are pretty strange, considering how they’ve been around since 1951.

Despite these, though, the credit union holds 72.17 million worth of assets and has 7.27 million worth of capital. Because it is a small institution, it currently has only 22 employees.  Chemcel FCU is federally insured by NCUA under Charter # 7129.