Good news for NEA members, you can still avail of the special Money Market Account offered at the Bank of America. Because this is sponsored by the NEA the rates of the account are indexed with a 1-month average LIBOR. For a limited time, those who will be opening a new account also get to enjoy a 1% raise from the standard rates of the account.

In case you don’t know yet, the money market account is tiered, with a top money market APY of 1.25% for holders who deposit a total of $50,000. Smaller depositors will also get to enjoy competitive money market rates with 1.15% APY for account balances of $500 to $50,000. For the special 60-day promo, holders can take advantage of an impressive 2.24% APY for balances of $50,000 and above, and 2.14% APY for balances between $500 and $50,000.

Competitor EverBank also offers a similar account which runs for 90 days, but only the first $100,000 deposit in the checking account qualifies for the same yield.

For a backgrounder, the NEA or the National Education Association comprises of teachers, students, and teachers who have already retired. Before you apply for the account, you still have to remember some important details first. Among them, the minimum opening deposit for the account which is only $500. Holders’ check writing capacities are also limited.

To qualify for the rates, you should open your accounts online or over the phone. The rates are different for accounts which were opened at the BoA banking centers.