3.3% APY for Money Market Accounts at Union Federal Savings Bank
Union Federal Savings Bank provides best money market rates as high as 3.3% APY for a minimum deposit of just $1. The earnings are compounded on a daily basis and credited to the account on a monthly basis.
The rates are effective as of January 9, 2009 but are variable and subject to change any time. It will be best to call their customer service line through 888-226-0819 so you can get an update with regard to the going on rates.
An online application can be completed through a secured portal. Interested consumers may also visit their office in North Providence in Rhode Island.
The small prints on the bank’s website states that the earnings of the money market account may be decreased by fees but it does not detail the imposed fees.
Account holders may perform unlimited withdrawal of funds as long as it is performed in a branch. Federal laws apply with regard to the number of fund transfers that can be done.
The Union Federal Bank was opened in 2001 in RI as a community bank. It is a small bank that was acquired in 2006 by the First Marblehead Corporation in 2006.
The bank is FDIC insured with certificate # 57189.
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