Why should I choose a Money Market Account rather than opening a CD?
Unlike a CD, the funds in your MMA are not tied to a specific term so you have easier access to funds. However, Money Market accounts are limited to 10 withdrawals per month before an excessive withdrawal fee of $20 is incurred.
Can I have direct deposit to my Money Market Account?
Yes. You may set up direct deposit with your employer by providing them your account number and routing number. Ensure that your employer lists your personal MMA as a checking account rather than a savings account to avoid any issues with your deposit.
Can I use my Visa Debit Card to access my Money Market Account?
Your Visa Debit Card will not give you access to your Money Market Account. ATM cards for an MMA can be issued which can only be used to withdrawal funds at an ATM. Money Market ATM cards cannot be used for Point of Sale (POS) transactions, such as paying at the gas pump or grocery store. Remember that you are not permitted to make more than ten (10) ATM withdrawals per month from the Money Market account.
When accessing funds at an ATM with your Money Market ATM card, choose a withdrawal from checking to access the Money Market account.
Can I transfer funds from my Money Market Account online or by using Audioline?
Yes. There are several ways you can transfer funds from your Money Market Account to another share or loan:
- Transfer funds in your Online Banking
- Audioline - Audioline recognizes an MMA account as a Checking Account (ID 35)
- Transfer from Savings to MMA - Choose service code 73# and enter your MMA account number ID for the Checking Account number, ex: 35
- Transfer from MMA to Savings - Choose service code #37 and enter your MMA account number ID for the Checking Account number, ex: 35
- Member to Member - Choose service code 28#
- Transfer from MMA to Loan - Choose service code 35# and enter your MMA account number ID for the Checking Account number, ex: 35
- Request to transfer funds from using Secure Email located under Additional Services from within your Online Banking
Limitations on the number of transfers may apply - Click on Reg D FAQs for more information.
Can I have more than one Money Market Account?
Yes, you may open more than one Money Market account and can do so online using your Online Banking or by phone by contacting our Member Care Center at 800-544-3328.
Can Money Market Account checks be certified?
Delta Community CU is unable to certify Money Market Account checks due to the restriction of 10 withdrawals on this type of account.
If I have a Money Market Account (MMA) on my personal account, can I order a different check design from an outside vendor?
Yes. However, please be advised of the following:
- Additionally, ordering checks from an outside vendor means providing your account number and routing information to an unverified third-party. We cannot guarantee the safety and privacy of that information once you release it.
Remember that if you order Money Market checks through the Credit Union, the fee is deducted from the MMA and counts toward the 10 withdrawals limit per month.