Richmond, Virginia Money Market Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Richmond, Virginia money market account rates range from 0.05% to 4.00% APY, verified by MonitorBankRates as of October 23, 2026. Current Richmond, Virginia and the surrounding area money market deposit account rates include 1st Advantage Federal Credit Union1st Advantage Federal Credit Union1204 Broad Rock Blvd, Richmond, VA 23224 4916A+5.0 ★Texas Ratio: 1.89%Real return: +0.30%APY minus 3.7% CPIRate verified Oct 23, 2026 Business Performance Plus Money Market Account at 4.00% APY, Connects Federal Credit UnionConnects Federal Credit Union7700 Shrader Rd, Richmond, VA 23228D2.8 ★Texas Ratio: 21.58%Real return: +0.11%APY minus 3.7% CPIRate verified Oct 23, 2026 Money Market at 3.81% APY, RVA Financial Federal Credit UnionRVA Financial Federal Credit Union1700 Robin Hood Rd, Richmond, VA 23220A5.0 ★Texas Ratio: 7.24%Real return: -0.20%APY minus 3.7% CPIRate verified Oct 23, 2026 Empower RVA Money Market at 3.50% APY, Blue Ridge Bank National AssociationBlue Ridge Bank National Association1801 Bayberry Ct, Richmond, VA 23226A5.0 ★Texas Ratio: 8.11%Real return: -0.82%APY minus 3.7% CPIRate verified Oct 22, 2026 Golden Advantage Money Market at 2.88% APY, and Virginia Credit UnionVirginia Credit Union4001 Lauderdale Dr, Richmond, VA 23233A5.0 ★Texas Ratio: 6.40%Real return: -0.95%APY minus 3.7% CPIRate verified Oct 19, 2026 Premium Plus Money Market at 2.75% APY. Money market rates as of October 23, 2026 according to verified data from MonitorBankRates.
Richmond has 16 local institutions in our database, with money market rates as high as 4.00% APY from 1st Advantage Federal Credit Union at 1204 Broad Rock Blvd, Richmond, VA 23224 4916. Use the table below to compare all available offers, including options from institutions serving the broader Virginia area. Rates are continually updated, so we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Richmond, Virginia and surrounding area. Last Updated and Verified: October 23, 2026
Compare the Best Money Market Rates Today in Richmond, Virginia & the Surrounding Area
Balance: $1,000,000 and up; Dividends compounded monthly
Balance: 1,000,000 and Up
Balance: $250,000.00 and up; Money Market* ($250,000 and up); Dividends compounded and credited monthly; Minimum balance to receive dividend $100.00; Balance method: daily balance
Balance: over $5,000.00; $10 fee applies monthly if balance falls below stated minimum; $10 fee per withdrawal or transfer in excess of six per month
Balance: $500,000 - $999,999.99; Dividends compounded monthly
Balance: $500,000.00 - $999,999.99
Balance: $2,500.00 and Greater; Minimum balance to open is $2,500.00; Avoid the monthly service fee by maintaining a $2,500.00 minimum daily balance
- Oct 20, 20262.88%▲ from 2.87%
- Sep 18, 20262.87%first recorded
over $100k; Balance: $100,000 - $249,999.99; Minimum balance to receive dividend: $100.00; Dividends compounded Monthly; Dividends credited Monthly; Balance method: Daily balance
- Oct 23, 20262.78%▲ from 1.76%
- Oct 15, 20261.76%first recorded
Compounding Frequency: Monthly
- Oct 1, 20262.75%▲ from 2.60%
- Sep 30, 20262.60%first recorded
APY as much as 2.55%
Balance: $250,000.00 - $999,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $250,000.00 or greater
Balance: $100,000.00 - $249,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Compounding Frequency: Monthly
- Oct 1, 20262.40%▲ from 2.25%
- Sep 30, 20262.25%first recorded
Balance: $250,000 - $499,999.99; Dividends compounded monthly
Balance: $250,000.00 - $499,999.99
Balance: $0.00 - $24,999.99; Limited time offer; requires minimum opening deposit of at least $25,000 in new money not currently on deposit with Atlantic Union Bank; not available for business accounts
Balance: $1,000,000 and over; Savings & IRA
Balance: $100,000.00 - $249,999.99; Dividends compounded monthly
Balance: $100,000.00 - $249,999.99
Balance: $200,000.00 - $249,999.99
Balance: $250,000 - up
Compounding Frequency: Monthly
Balance: $249,999.01 - $999,999
Balance: $500,000 - $999,999; Savings & IRA
Balance: $2500.00 - 99,999.99; Minimum balance to receive dividend $100.00; Dividends compounded Monthly; Dividends credited Monthly; Balance method Daily balance
Balance: $250,000 - $499,999; Savings & IRA
Balance: $150,000.00 - $199,999.99
Compounding Frequency: Monthly
Balance: $100,000 - $249,999; Savings & IRA
Balance: $99,999.01 - $249,999
Balance: $50,000 and over; Savings, IRA & ESA; Compounded and credited monthly; must maintain a minimum daily balance of $2,500 to earn dividends
Balance: $100,000.00 - $149,999.99
Compounding: Monthly
Compounding: Monthly
Balance: $50,000.00 - $99,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $10,000.00 - $49,999.99
Balance: $100,000 - $249,999
Compounding Frequency: Monthly
Compounding: Monthly
Balance: $25,000 - $49,999; Savings, IRA & ESA; Compounded and credited monthly; must maintain a minimum daily balance of $2,500 to earn dividends
Balance: $10,000 - $24,999; Savings, IRA & ESA; Compounded and credited monthly; must maintain a minimum daily balance of $2,500 to earn dividends
Balance: $50,000.00 - $74,999.99; Dividends compounded monthly
Balance: $50,000 - $74,999.99
Compounding: Monthly
Balance: $25,000.00 - $49,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $2,500 - $9,999; Savings, IRA & ESA; Compounded and credited monthly; must maintain a minimum daily balance of $2,500 to earn dividends
Balance: $25,000.00 - $49,999.99; Dividends compounded monthly
Balance: $25,000.00 - $49.999.99
Balance: $49,999.01 - $99,999
Balance: $1,000,000+; Tiered rates, rate paid on entire balance; In-Branch Only
Balance: $1,000,000+
Balance: $500,000 - $999,999; Tiered rates, rate paid on entire balance; In-Branch Only
Compounding: Monthly
Balance: $10,000 - $24,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $500,000 - $999,999
Balance: $100,000 - $499,999; Tiered rates, rate paid on entire balance; In-Branch Only
Balance: $0 - $14,999.99
Balance: $250,000+
Balance: $50,000 - $99,999
Balance: $100,000 - $499,999
Balance: $25,000 - $99,999; Tiered rates, rate paid on entire balance; In-Branch Only
Balance: $24,999.01 - $49,999
Balance: $100,000 and above
Balance: $100,000 and above
Balance: $2,500 - $9,999.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $25,000 - $99,999
Standard Rates; Preferred Rates Available. View Rates
Balance: $9,999.01 - $24,999
Balance: $100,000 - $249,999.99
Compounding: Monthly
Balance: $50,000 to $99,999.99
Balance: $50,000 to $99,999.99
Balance: $1,000 - $9,999
Balance: $1,000.00 - $9,999.99
Balance: $20,000 - $49,999
Balance: $0.01 required to earn APY; Transaction Limits: Limited
Balance: $25,000 - $99,999.99
Balance: $0.00 - $2,499.99; Avoid the $11 monthly service fee by maintaining a $2,500.00 minimum daily balance.
Balance: $0 - $99,999; Savings & IRA
Balance: $1,000 - $19,999
Balance: $25,000 to $49,999.99
Balance: $25,000 to $49,999.99
Balance: $10,000 to $24,999.99
Balance: $10,000 to $24,999.99
Balance: $0.00 - $24,999.99
Balance: $2,000 to $9,999.99
Balance: $2,000 to $9,999.99
Balance: $0 - $24,999
Balance: $5,000 - $24,999; Tiered rates, rate paid on entire balance; In-Branch Only
Compounding: Monthly
Compounding: Monthly
Balance: $500,000+; Interest is compounded and paid monthly; Visit a Branch to Open
Special rate for new accounts opened today; interest rates and APYs are variable, based on account balances, and subject to change daily
Balance: $25,000.00 - $500,000.00; Earn 1.50% APY on higher balances; Earn 0.10% APY on average daily balances under $25,000; Mail-in application
- Oct 7, 20263.50%▲ from 1.50%
- Sep 27, 20261.50%first recorded
Balance: $25,000.00 - $250,000.00
Balance: $25,000 - $49,999; Preferred Rates require $25,000 not currently on deposit with Citizens; Rates accurate as of 10/19/2026
Balance: $1,000,000 and above; Wilmington Branch Only (Thalian theatergoers with ticket within 90 days of show date); Advertised rate effective March 12, 2026; available only to new funds deposited; rate is variable; $25 monthly fee if balance drops below $2,500
Relationship balance of $250,000 must be maintained; if it falls below $250,000 the account may be converted to a Bright Business Savings Account
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Richmond, VA Money Market Rate Trends
Compare local Richmond, VA money market quotes against the statewide average
Daily money market rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
Virginia high-yield MMA rates fell 0.008 points over the past 7 days to 3.095% APY.
Virginia standard MMA rates fell 0.036 points over the past 7 days to 0.718% APY.
Richmond, Virginia Money Market Rate Forecast, Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current VA high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026 to 2027.
Money market account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current VA high-yield money market average of 3.095% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60 to 90 days. High-yield money market rates tend to adjust faster than standard branch-based accounts.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Richmond, Virginia.
Money Market Account Earnings in Richmond, Virginia
Annual interest earnings at current VA average APYs, based on the high-yield and standard money market averages tracked in our database. Balances reflect the higher minimums typical of money market accounts. Compounding assumed monthly.
| Balance | HY Money Market (3.095% APY) | Monthly Earnings | Standard MMA (0.718% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $309.50 / year | $25.79 | $71.76 / year | $5.98 |
| $25,000 | $773.75 / year | $64.48 | $179.40 / year | $14.95 |
| $50,000 | $1,547.50 / year | $128.96 | $358.80 / year | $29.90 |
| $100,000 | $3,095.00 / year | $257.92 | $717.60 / year | $59.80 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, rate tier, and daily balance maintained. Rates are variable and subject to change. Source: Richmond, Virginia money market rate averages as of October 25, 2026. | ||||
About Our Richmond, Virginia Money Market Rate Database
MonitorBankRates found 16 institutions with branches in Richmond (8 banks, 8 credit unions), plus 29 additional state-chartered and national online institutions available to Richmond residents. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website, no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1 to 5), and Texas Ratio, objective financial health metrics calculated from FDIC and NCUA regulatory data, so you can compare yield and institutional safety in one place.
Current top rate: 1st Advantage Federal Credit Union offers a money market account at 4.00% APY. Use the rate table above to compare all current offers in Richmond, Virginia.
How to Find the Best Money Market Rates in Richmond, Virginia
What to compare when shopping for a money market account in Richmond, Virginia
To find the best money market APYs in Richmond, Virginia, start with credit unions and online-only banks: Richmond, Virginia has 25 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate, and pay close attention to balance tiers. Many money market accounts only pay their advertised top rate above a minimum balance of $1,000 to $25,000, with lower rates (or monthly fees) below that threshold. The current VA high-yield money market average is 3.095% but top local institutions are offering as high as 4.00%, so shopping around pays off.
Unlike a CD, money market rates are variable. Your rate can change at any time with Federal Reserve policy. Also check check-writing and debit card limits: most MMAs allow a set number of withdrawals per month, and exceeding the limit can trigger fees. Review your account periodically to ensure your APY remains competitive.
When a Money Market Account Makes Sense
- Emergency fund with flexibility: You get savings-level yields plus limited check-writing and debit access. Richmond, Virginia high-yield money market rates currently average 3.095% APY, far above a typical checking account.
- Larger balances ($10,000+): Many MMAs pay tiered rates that rise with your balance, so bigger deposits often earn more than they would in a standard savings account.
- Parking cash between investments: A high-yield money market account at Richmond, Virginia institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 45 institutions in Richmond, Virginia report money market rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return Richmond, Virginia CD rates
- You don’t need check writing and want a lower minimum Richmond, Virginia savings rates
- You need daily transaction access Richmond, Virginia checking rates
Richmond, Virginia Financial Snapshot
Local demographics and economic context for savers . Source: U.S. Census Bureau
14.1% of residents are 65 or older, below the national average of 17.3%. At today’s VA high-yield money market average of 3.095%, saving 10% of the local median salary ($4,114/year) would earn an additional $127 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Richmond, Virginia Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Richmond, Virginia.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current VA Avg APY | 3.095% | View Savings Rates | 0.718%(Standard MMA) | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✓ Often yes | ✗ No | ✗ No | ✗ No |
| Debit / ATM Card | ✓ Often yes | Some institutions | ✗ Rarely | ✗ No |
| Typical Min Deposit | $0 to $2,500 | $0 to $100 | $25 to $100 | $500 to $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | None, locked for term |
| Best For | Active savers wanting flexibility + check writing | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Locking in a rate for a defined period |
APY data reflects Richmond, Virginia averages tracked in our database as of October 25, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Richmond, Virginia Money Market Account Calculator
See how much a money market account can earn you. Enter your deposit, monthly contribution, and time frame, or click any current Richmond, Virginia rate on the right to apply it instantly. Interest compounds monthly.
Assumes monthly compounding and a constant APY for the full period. Money market rates are variable and can change at any time, so actual earnings will differ. Estimates are for informational purposes only.
Money Market & Savings Calculators for Richmond, Virginia
At VA’s top money market rate of 4.00% from 1st Advantage Federal Credit Union, a $10,000 deposit earns $400 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Richmond, Virginia earner is roughly $10,300. At 3.095% APY in a money market account, saving $860/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountVirginia’s high-yield money market average is 3.095% APY, variable, always accessible, and often with check-writing. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Richmond, Virginia earner makes $41,143/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 3.095% APY.
Retirement PlannerA $25,000 money market balance earning 3.095% APY grows to roughly $45,993 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Richmond, Virginia money market rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Money Market Rate Data: We aggregate money market deposit account rates for Richmond, Virginia directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every money market rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Richmond, Virginia. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in VA.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update money market rates daily. Because MMA yields can fluctuate rapidly based on market conditions, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Money Market Accounts in Richmond, Virginia
What is a Money Market Account (MMA)?
Are Money Market accounts in Richmond, Virginia safe?
How often do MMA rates change in Richmond, Virginia?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Richmond, Virginia?
Can I lose money in a Money Market Account?
What is the difference between a Money Market Account and a Money Market Fund?
Do I have to pay taxes on money market account interest?
Are online banks better than local banks in Richmond, Virginia for money market accounts?
Best Money Market Rates in Richmond, Virginia
- 1st Advantage Federal Credit Union
Business Performance Plus Money Market Account: 4.00% APY - Connects Federal Credit Union
Money Market: 3.81% APY - RVA Financial Federal Credit Union
Empower RVA Money Market: 3.50% APY - Blue Ridge Bank National Association
Golden Advantage Money Market: 2.88% APY - Virginia Credit Union
Premium Plus Money Market: 2.75% APY
Richmond, Virginia Rates & Resources
