Best Money Market Rates found at Forum Credit Union
Forum Credit Union out of Indianapolis has a phenomenal money market account called a “health savings money market account” which is currently yielding an APY of 3.00% if you are willing to maintain a balance of at least $7,500. This featured MMA rate became effective on the first of this month (6/01/2009) and is subject to change.
The potential fees associated with this account are not obvious on the website. They have listed the breakdown of potential fees for their “Cross over MMA,” their “Prestige MMA,” and their “Platinum MMA” however nothing is listed for this specific account (health savings MMA).
The fee breakdown for the other money market accounts include withdrawal fees and minimum balance fees (if min balance drops below a predefined level). You may want to dig around in the Fee Disclosure PDF before opening an account, or contact a rep to make sure you don’t get any unwanted surprises.
Since the rate table specifies the 3.00% APY is good on all “health savings money market accounts” with balances of $7,500 and above I would venture to guess that if you never drop below that amount you should be good to go. If you plan on making regular withdrawals from this account or if you plan on conducting any sort of money transfers throughout a given month I would certainly speak to a rep before opening.
Contact info for Forum Credit Union:
Address: 11313 USA Parkway, Fishers, IN 46037
telephone number: (317) 558.6000
June 23rd, 2009 at 6:53 pm
That’s a sweet rate. Could be a teaser though since money market rates are usually variable. Anyone know if this is available to everyone anywhere?
June 24th, 2009 at 1:44 pm
They have shared service centers nationwide. But they also have a credit union membership.