Lufthansa Employee Federal Credit Union continues to provide competitive interest rates with their money market account account. This money market deal requires a minimum deposit of $1,500 to open an account. You must also maintain this balance or have a higher deposit to earn their best interest rate of 1.50% APY.

The earnings of your money market account is paid quarterly. If you are an active employee, you can setup automatic deposits to come from your paycheck to this money market account. You can also have an easy access to your money and it can be made via phone, in person, or e-mail.

Unlike any other money market account, the credit union does not charge any fees whenever you make a withdrawal. You can also monitor your account through online banking and pay your bills online. The interest rates of this money market account may change once account is opened, so make sure to call the credit union and ask for the latest money market rate.

Lufthansa Employee Federal Credit Union membership is open to employees or retirees of Lufthansa German Airlines or you must be a relative of a Lufthansa employee or retiree. Employees and family members of the affiliated companies of Lufthansa like Hawker, Condor, or Swiss are also eligible to join.

First, you need to print out the following forms: New account form, W-9 Form, Copy of government issued photo identification like driver’s license or passport, and Transfer on Death Agreement if you wish to designate a beneficiary. After filling up all the form you need to enclose all documents together with a check worth $5 which will deposited on to your share savings account. Then mail it to Lufthansa Employee Federal Credit Union, 1640 Hempstead Tpk, East Meadow, NY 11554. if you have time, you can just visit the credit union’s office and submit the documents.

Lufthansa Employee Federal Credit Union was founded in 1970 and has already grown to have over 3,000 members with $98 million in declared assets. The credit union is insured by the National Credit Union Association and has a charter number 20341.