Velocity Money Market
The accessibility of a Money Market with enhanced interest rates
up to 2.02 % APY
Overview
The Velocity Money Market account offers tiered interest rates with unbeatable returns. Each tier earns its own interest rate so the more money you save, the more money you can earn!
TIER 1:
Your first $50,000 earns 0.20% APY*TIER 2:
Your next $25,000 earns 0.50% APY*TIER 3:
Your next $25,000 earns 1.00% APY*TIER 4:
Your next $50,000 earns 1.51% APY*TIER 5:
Everything over $150,000 earns 2.02% APY*
Velocity Money Market Rates*
| Average Daily Balance Tiers | APY* |
|---|---|
| First $50,000 ($0-$50,000) | 0.20% |
| Next $25,000 ($50,000-$75,000) | 0.50% |
| Next $25,000 ($75,000-$100,000) | 1.00% |
| Next $50,000 ($100,000-$150,000) | 1.51% |
| Everything over $150,000 | 2.02% |
Rates effective as of 10/1/2022
Here’s an example of how much you could earn with a total balance of $185,000:
| Tiered Balance | APY* | Annual Interest | ||
|---|---|---|---|---|
| $50,000 | @ | 0.20% | = | $100 |
| $25,000 | @ | 0.50% | = | $125 |
| $25,000 | @ | 1.00% | = | $250 |
| $50,000 | @ | 1.51% | = | $755 |
| $35,000 | @ | 2.02% | = | $707 |
| Total Earned $1,937 |
*Tier 1- Your daily balance in tier 1 ($0.00 up to $49,999.99) will earn an interest rate of 0.20% and an APY of 0.20%. Tier 2- Your daily balance in tier 2 ($50,000.00 up to $74,999.99) will earn an interest rate of 0.50% with a 0.50% APY. Tier 3- Your daily balance in tier 3 ($75,000.00 up to $99,999.99) will earn an interest rate of 1.00% with a 1.00% APY. Tier 4- Your daily balance in tier 4 ($100,000.00 up to $149,999.99) will earn an interest rate of 1.50% with a 1.51% APY. Tier 5- Your daily balance in tier 5 ($150,000.00 or more) will earn an interest rate of 2.00% with a 2.02% APY. Your interest rate and annual percentage yield are subject to change. At our discretion, we may change the interest rate on your account. All applicants must meet East Idaho Credit Union account opening requirements. Some restrictions may apply.
