A Money Market account is a great savings tool, because it allows you to earn a higher dividend rate than most checking accounts, but still offers the convenience of checks. It also offers:
- FREE Money Market checks
- NO maintenance fees
- Convenience of Direct Deposit, Payroll Deduction, or Pre-Authorized Transfer directly into your Money Market account
Dividends are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account each month. The average daily balance is calculated by adding the balance in the account for each day of the month and dividing that figure by the number of days in the month. There is a minimum average daily balance requirement of $2,500 to maintain and earn a dividend, and if your average daily balance falls below $2,500 in any month, you will incur a fee at the end of that month.
The Money Market Account is limited to 6 withdrawals per month as required by Regulation D, which covers Money Market Accounts. Examples of transactions that are limited to 6 include, but are not limited to, checks, Online Banking transfers and telephone transfers.
Premium Money Market
This account is great if you are looking to earn a higher rate on your deposits, but still desire some liquidity. It pays a premium rate for average daily balances of $50,000 or more.
Some restrictions:
- The account requires a $50,000 minimum opening balance
- Does not allow check, ACH, ATM or VISA® debit card access
- If the average daily balance after opening drops below $50,000, no dividends are paid for that month
Membership eligibility and $5 minimum balance required to maintain a base savings account.
Limit 6 withdrawals per month as required by Regulation D.
To open a Premium Money Market Account, personal members can simply log in to Online Banking and select “Open Deposit Accounts” from Quick Links. For additional information, or if you are a business member who wishes to open a Premium Money Market Account, visit any LGE branch or call us at 770-424-0060.
Reordering checks
To reorder checks, please log in to Online Banking and choose "Reorder Checks" from the "Account Services" widget. You can also contact us at 770-424-0060.
Learn
The Money Market Account is limited to 6 withdrawals per month as required by Regulation D, which covers Money Market Accounts. Examples of transactions that are limited to 6 include, but are not limited to, checks, Online Banking transfers and telephone transfers.
More information on electronic funds transfers under Regulation E.