Earn more interest with a high-yield money market account!
Earn more interest with a high-yield money market account!
Quickly build your savings with rates more than 6x the bank industry average with yields of 1.25% up to 4.00% APY!1
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Access virtually anywhere with our online banking or mobile banking app
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No minimum or maximum balance
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No monthly fee with eStatements
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Only $1000 to open an account2
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Deposit checks with your mobile device using our mobile banking app
Money Market Deposit Rates
It’s easy to open an account!
Click on "Open an Account"
You’ll access our secure site
that offers a fast account-opening process.
Enter your information
Our process will snap a photo
of your government-issued ID,
capturing your address and date
of birth so you’ll only need to add
your email, phone, and
Social Security number.
Fund your new account online
Transfer funds into your new account when you link it to your account at another financial institution. Start earning interest on the business day we receive your deposit.
Apply from your smartphone, tablet, or desktop, 24/7!
Experience the convenience of digital banking!
Take advantage of these great rates by opening an account!
Start saving today and earn more!
Link your accounts
No need to switch banks! You can easily move funds between your current bank accounts and your new online high-yield money market account.
24/7 account access
Convenient online and mobile banking access. (We’re also only a phone call away.)
Insured by NCUA
Your account is federally insured to at least $250,000 per depositor by the National Credit Union Association.
Frequently Asked Questions
Why trust Linn Area Credit Union?
Founded in 1935 as the Cedar Rapids Teachers’ Credit Union, Linn Area Credit Union has five branch locations in Iowa and serves nearly 25,000 members in 22 Iowa counties. The credit union actively contributes to Iowa communities and nonprofit organizations centered on children, families, and education. Linn Area Credit Union’s mission is to partner with people by providing caring financial services to help them accomplish their financial goals and achieve their dreams.
Are there any minimum balance requirements?
You must deposit $5 to fund a savings account. Keeping a minimum of $5 in a savings account establishes your membership in the credit union. This high-yield money market account does not require a minimum balance be maintained to remain open, but does require a minimum opening balance of $1,000.00. The minimum daily balance required to earn the Annual Percentage Yield disclosed for the crediting period is $5,000.00. If the minimum daily balance is not met each day of the crediting period, you will not earn the stated Annual Percentage Yield. Please note: Any account that maintains a zero balance for 120 days is subject to closure at Linn Area Credit Union’s sole discretion.
How do I deposit money into my account?
All you need is the information for your external account (the account and routing numbers) in order to link it to your high-yield money market account. Once that’s done, you can easily make deposits and withdrawals online. You also can deposit checks by using the mobile deposit function within our mobile banking app.
Are there any fees for this account?
There is no monthly fee to maintain your account. You may be charged $25.00 per withdrawal if you exceed the six (6) per month allowed, regardless of the type or method of withdrawal. Please see our Fee Schedule for the types, amounts, and conditions of all fees and charges.
How many withdrawals can I make?
Federal regulations allow no more than six (6) pre-authorized, automatic, or telephone transfers from each high-yield money market account to another account or to a third party in any month. If you exceed these limitations, your account may be subject to a fee or be closed. For high-yield money market accounts, this fee will be $25.00 per withdrawal exceeding six (6) per month regardless of the type or method of withdrawal.
Can I have more than one high-yield money market account?
Yes. You may have up to 15 high-yield money market accounts.
1APY = Annual Percentage Yield. Rates effective as of September 1, 2023. Industry average rate was obtained from the National Rates and Rate Caps as of August 21, 2023. Deposit rate represents an average of $10,000 and $100,000 product tiers. Rates may change without notice after account opening.
2Credit union membership is required to obtain Linn Area products, which requires a $5 deposit to a savings account. Any fees incurred could reduce earnings. Personal accounts only. Other terms and conditions may apply.
