Money Market

Why a Money Market Draft Account?

If you are looking for a safe place to deposit a large chunk of money that you may, or may not, need in the immediate future, a Money Market Draft Account could be just want you are looking for. This account is an ideal savings account for emergencies. It allows fewer withdrawals, but you’ll earn a higher interest rate than a basic savings account. Funds can be drawn from this account type by making cash withdrawals, transfers, or writing checks.

Money Market Draft Accounts1

TiersBalanceAnnual Percentage Yield (APY)Dividend Rate
1$500 – $9,999.990.25%0.25%
2$10,000 – $24,999.990.30%0.30%
3$25,000 – $49,999.990.40%0.40%
4$50,000 and over0.55%0.55%

Frequently Asked Questions

Why choose a Money Market Draft Account?

It is worth considering if:

  • You want to deposit a large amount of money and earn interest, with the peace of mind that it is insured.
  • You need access to your funds in case of emergency (as opposed to investment funds that are not easily accessible).
  • You want the option of earning higher dividend rates than a standard checking or saving account.
What questions should I ask when choosing a Money Draft Market account?
  • Does your credit union or bank’s money market account have a high interest rate?
  • Is the minimum balance reasonable?
  • Does the account offer check-writing or transfers?
  • Can you easily access the funds?
  • Are there monthly fees?
What is the minimum balance required to open a Money Market Draft Account?

The minimum balance required to open a Money Market Draft Account is $500. Additionally, you must maintain a daily minimum account balance of $500 or more to earn interest. 


Viriva Money Market Draft Account Features

  • Low minimum balance of $500 to earn dividends 
  • Immediate access to your money by writing a check, 
    cash withdrawal, or account transfer
  • Your money is federally insured by NCUA up to $250,000
  • Access funds six times per month penalty free
  • Earn a higher dividend rate than our standard
    Savings or Checking accounts
  • Request to receive 50 FREE starter checks