Louisiana money market accounts: Who offers the best rates?

September 8, 2009 No Comments »

Below are the highest yielding money market account rates serving citizens of the state of Louisiana.

If you are strictly after the best interest rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Louisiana, we have found that in most instances you will be able to lock in more competitive rates with national institutions rather than local ones. Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market accounts.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy. As with all money market accounts, the interest rates are variable and are subject to change without notice.

Top 2 MMA (money market account) rates in Louisiana:

(click on the institution for more information)

  • Total Choice Federal Credit Union: LA Place, LA. Money market account yielding 2.02% APY with a minimum balance of $10,000. The account rates are set up in two tiers based on minimum balance. The first tier provides an interest rate of only 0.75% APY for all balances up to $9,999. The second tier contains all balances above $10,000 and yields the 2.02% APY.  Total Choice Federal Credit Union is open to all persons who live, work, or worship, in Saint Charles, Saint John, and Saint James Parishes. Family members and co-workers can also take advantage of credit union benefits. Members can enjoy credit union services with a savings account deposit of just $5.00 and one-time membership fee of $5.00. Contact (985) 783-2905
  • Investar Bank: Baton Rouge, LA. Money market account yielding 1.95% APY with a minimum balance of $2,500. If your balance falls below $2,500 at anytime during the month you will incur a $10 fee. You are entitled to 6 withdrawals per month, 3 of which can be made by check (each additional withdrawal will cost $10). Investar Bank is a locally-owned, full service community bank headquartered in Baton Rouge, Louisiana. The bank offers a full array of banking products and services for individuals, professionals and small and medium-sized businesses, including mortgage loans and construction loans. They offer a number of services that used to be reserved only for the large banks, such as bill paying services, cash management and real time balances. They have one location in Baton Rouge and one in Port Allen, Louisiana. Contact: (225) 757-7117

Both of the above institutions are federally insured by either the FDIC or NCUA. If you live in Louisiana and know of a better money market rate offered through your local institution, please share by leaving a comment.

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