Man in teal shirt excited to open a Money Market account

Improved Single Tier Money Markets

Competitive rates right here in the Hudson Valley

$50K Minimum

2.00% APY*

$100K Minimum

4.00% APY*

$300K Minimum

4.25% APY*

$1Mil Minimum

4.50% APY*

Better Dividends, Better Accessibility

You want the money you’re saving to earn you more. But you’re not comfortable with locking your money up in a Certificate.

Money Markets give you the dividends you’re looking for…without a term commitment.

And better dividends mean you’re earning more on the money you’re setting aside.

Access the cash in your Money Market at any time – just keep your balance above the minimum to earn the advertised APY. Or keep the savings growing and deposit as much and as often as you like.

Online money market opening available for balances $250,000 and under. For money markets over $250,000, please visit any branch location.

What are the benefits of Money Markets?

Unlike certificates, Money Markets keep control of your funds in your hands. When you open a certificate, your money is “locked up” for the duration of the term.

A Money Market lets you:

  • Money icon

    Access

    Access the funds in your money market at any time – just keep your balance above the minimum to earn the advertised APY and avoid the low balance fee
  • Deposit Icon

    Deposit

    Deposit funds whenever you want

Single-tier money markets mean your rate is set by your account opening balance. If you deposit funds that bump you to the next balance minimum, your rate does not automatically adjust.

But the rate you’ll get for your tier with these money markets is going to earn you more than a typical savings account.

Compare Earnings After 12 Months

$50k money market comparison chart

Comparison chart for $100k money market

Examples assume no additional deposits or withdrawals and a savings yield of 0.05%

Online money market opening available for balances $250,000 and under. For money markets over $250,000, please visit any branch location.

Is a Money Market right for me?

Make this money move if:

You have a large purchase in the future and want to maximize your savings efforts

You’ve never tried a savings tool outside of a savings account and want to start with something low-risk

The restrictions of a certificate have stopped you from capitalizing on that option

It’s Easy to Open Your Money Market

  1. 1

    Get Your ID

    You’ll need your valid, government-issued ID.
  2. 2

    Make Your Initial Deposit

    If you’re not currently a member of MHV, you’ll need to open a savings account with a $5 deposit. This represents your share of the credit union.
  3. 3

    Open Your Money Market

    For amounts up to $250,000, you can open online or in any  branch location. Money markets over $250,000 must be opened at a branch.

Online money market opening available for balances $250,000 and under. For money markets over $250,000, please visit any branch location.

Commonly asked questions about Money Markets

  • Yes, your funds are insured up to $250,000. To better understand this protection, check out the NCUA's Share Insurance Estimator.
  • Yes, you can deposit funds as much and as often as you would like into your Money Market account.
  • There is not a fee to have the account. However, if your balance falls below the minimum required, you will be assessed a $10 fee.
  • With a Certificate of Deposit, your funds are on hold for the length of the term you select. If you need to access your funds during the term of your Certificate, you will be charged a penalty. You are also unable to add funds to your Certificate of Deposit. A Money Market account allows you to access your cash at any time as long as you don't go below the minimum amount. If you do, a fee will be assessed. You can add funds to your Money Market at any time.
  • Dividends are returns for investing in or saving with the credit union.
  • Money Market accounts are considered to be a low-risk account as they are insured by the NCUA up to $250,000. Since the dividend rate on a Money Market is variable, you may earn less interest if rates go down over time. However, you will not lose the amount you put into your Money Market account or any interest you have earned.

* Rates effective 4/1/24. Dividends begin to accrue on the business day you deposit noncash items, such as checks. We use the daily balance method to calculate dividends in your account; this method applies a periodic rate to the balance in the account each day. Dividends will be compounded and credited to your account monthly. Your dividend rate and annual percentage yield may change. The dividend rate on your account is determined and declared at the discretion of the Credit Union Board of Directors. The dividend rate and annual percentage yield (APY) are disclosed under separate cover. After the first of each month, or after Tuesday of each week, depending on the product, you may call 800-451-8373(Opens in a new window) or 845-336-4444(Opens in a new window), extension 6000, for dividend rate and APY information. Accrued dividends will be paid upon closing the account. Rates may vary. If balance falls below the minimum stated, the current savings account APY will apply. Fees could reduce earnings on this account. A low balance fee of $10.00 will be assessed if the average monthly balance is below the minimum required.