Money Markets

What is Money Market?

Move your cash to one of our money markets to earn more. Each of Dupaco's money market account options gives you the flexibility to make withdrawals, unlike a term share certificate (the credit union's term for CD) where your money is locked in for a specified amount of time. And your deposits are federally insured, of course.

Open an account

We have three types of money markets: Insured Money Management, Investor's Choice, and High-Yield1 Savings. The main difference between these account types is the minimum balance required to earn the daily dividend. Balances are tiered in the Investor's Choice and High-Yield Savings accounts, which means the more you save, the more you earn.

Money Market Yield

Money market yield is the income return on an investment, also known as the interest rate or the dividend earned by the account holder of the money market. Even during the economic downturn, Dupaco continued to reward our savers with above-market rates on money markets and other deposits.

Making Deposits

Additional deposits may be made into the money market at any time and in any amount in person, or through payroll deduction or account transfer.

Withdrawal of funds

These liquid accounts allow you to withdraw funds at any time without penalty. Funds must be withdrawn in amounts of $250 or more. If a withdrawal is made below the $250 minimum, a service fee will be assessed. Withdrawals may be made in person or through online banking. Checks cannot be written on these accounts.

Open an account now, visit any of our locations, or contact a member service representative at (563) 557-7600 / 800-373-7600, ext. 206.

1 EFFECTIVE 4/19/2010, HIGH YIELD SAVINGS NO LONGER IS OFFERED AS AN INVESTMENT OPTION AND MAY NOT BE OPENED. Existing High-Yield Savings members may continue to make withdrawals from and deposits to their High-Yield account and take advantage of the yields. However, if the High-Yield savings account is closed, it may not be re-opened.

 

Money Market Rates

Current as of: 6/26/2017
Money Market Account Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
Investors Choice $100,000 and above 0.55% 0.55% $10,000 $100,000
Investors Choice $25,000-$99,999 0.45% 0.45% $10,000 $25,000
Investors Choice $10,000-$24,999 0.30% 0.30% $10,000 $10,000
Insured Money Management $2,500-$9,999 0.20% 0.20% $2,500 $2,500
1Money Market Rates: Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. The interest rate and annual percentage yield may change after account opening. Fees could reduce earnings on the account. Available to individual and small business member accounts only. Not available to investment companies and financial institutions. Maximum deposits limits may apply.

High-Yield Rates

Current as of: 6/26/2017
High-Yield Savings Balance Tier Dividend Rate Annual Percentage Yield1 Min. to Open Min. to Earn
$200,000 and above 1.00% 1.00% $50,000 $200,000
$150,000-$199,999 0.80% 0.80% $50,000 $150,000
$100,000-$149,000 0.65% 0.65% $50,000 $100,000
$50,000-$99,999 0.50% 0.50% $50,000 $50,000
$0-$49,999 0.15% 0.15% $50,000 $1
1High-Yield Home-Grown Savings: EFFECTIVE 4/19/2010, HIGH YIELD SAVINGS NO LONGER IS OFFERED AS AN INVESTMENT OPTION AND MAY NOT BE OPENED. Existing High-Yield Savings members may continue to make withdrawals from and deposits to their High-Yield account and take advantage of the yields. However, if the High-Yield savings account is closed, it may not be re-opened (effective 4/19/2010).
Dividends and annual percentage yields (APY) accurate as of the last dividend declaration date. $50,000 minimum balance to open and maintain the account. Available for personal and business accounts and requires a minimum of $15,000 in new money to the credit union. Rates may vary after account is opened. Minimum daily balance to earn must be maintained each day to obtain the disclosed APY. Dividends are calculated daily and credited and compounded monthly. Programs, rates, terms, and conditions are subject to change without notice. Fees may reduce earnings on account. Available to individual and small business member accounts, only. Not available to investment companies and financial institutions. Maximum deposits limits may apply. In order to qualify for the High Yield Savings account members must maintain an active checking account with direct deposit (net check) and at least one electronic debit monthly OR have joined the credit union on or before 2/1/2010. If member fails to meet the aforementioned requirements this account will be closed and the funds will be transferred into the Regular/Asset Builder Share Savings account whereby current rates will apply.

   
Comments (5)
investors choice
Jeff
 • 83 days 8 hrs 30 mins 53 secs ago
Above it states that checks cannot be made to withdraw funds from the 3 types of money markets. Is that true? I thought you could write checks from investors choice.
 

Re: investors choice
Dupaco Moderator
 • 81 days 16 hrs 10 mins 4 secs ago

Hi Jeff, checks cannot be written from these accounts, only in-person and online withdrawals can be done.

 

investors choice
Jeff
 • 83 days 8 hrs 30 mins 53 secs ago
Above it states that checks cannot be made to withdraw funds from the 3 types of money markets. Is that true? I thought you could write checks from investors choice.
 

Re: investors choice
Dupaco Moderator
 • 81 days 16 hrs 10 mins 4 secs ago

Hi Jeff, checks cannot be written from these accounts, only in-person and online withdrawals can be done.

 

APY
Tony
 • 402 days 16 hrs 22 mins 44 secs ago
notice that my regular savings pay's a dividend every 90 days @ aprox.40%, how does the investors choice differ?
 

Re: APY
Dupaco Moderator
 • 402 days 12 hrs 15 mins 19 secs ago

Hi Tony, our investors choice account offers a tiered interest rate starting with an investment of $10,000 and pays interest monthly. Minimum withdrawals of $250 or more are required to access funds.

 

High-Yield / No Access
Zach
 • 517 days 15 hrs 48 mins 2 secs ago
Why have/list High-Yield Savings if you can't open an account anymore???
 

Re: High-Yield / No Access
Dupaco Moderator
 • 516 days 18 hrs 1 min 49 secs ago

Hi Zach, due to regulations, we have to disclose the rates, even if account opening is closed.

 

Interest
Ian T
 • 559 days 16 hrs 48 mins 44 secs ago
What is the Interest Frequency and Compounding for your money market? Thank You!
 

Re: Interest
Dupaco Moderator
 • 558 days 14 hrs 50 mins 13 secs ago

Hi Ian, the interest on the money markets accrues daily, and is paid out monthly.

 

rate match
John
 • 825 days 14 hrs 2 mins 27 secs ago
Since you do not seem to be able to provide an answer to a secure email - I will ask the simple question here; Will Dupaco match deposit rates of other local credit unions? I can get .25% more on the same money at a different local credit union.
 

Re: rate match
Dupaco Moderator
 • 825 days 13 hrs 56 mins 55 secs ago

Matching a rate is possible but it does depend on the type of account you’re looking for a match on. Typically we only match on term share certificate rates. We also consider the members' overall relationship with Dupaco before committing to a rate match.

 

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