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CUNJ Savings Account Rates and MMA Rates

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Credit Union of New Jersey (CUNJ) is advertising 5 different types of savings accounts and 3 different types of money market accounts. The credit union's money market account rates are better than their savings account rates. You will have to join Credit Union of New Jersey to open a savings account or money market account.

The share savings account rates are tiered based on the account balance but currently all earn the same rate and annual percentage yield (APY). The minimum opening deposit is $5.00. Here is a list of current rates


Share Savings account Rates:



  • $0.01-$499.99 0.15% Rate 0.15% APY

  • $500.00-$1,999.99 0.15% Rate 0.15% APY

  • $2,000.00-$9,999.99 0.25% Rate 0.25% APY

  • $10,000.00 & up 0.40% Rate 0.40% APY


The credit union's Holiday Club savings account, Vacation Club savings account, Summer Savings - savings account and Young Savers savings account all have a minimum opening deposit of $5.00. The current savings rate and APY for all accounts is o.15 percent.

The credit union’s Tiered Money Market Accounts have a minimum opening deposit of $1,000. MMA balances of $1,000 to $9,999 earn a savings account rate and yield of 0.25 percent. Balances of $10,000 and over earn a rate and yield of 0.50 percent.

Premier Money Market Accounts have a minimum opening balance of $25,000. Premier Money Market Accounts earn a savings rate and APY of 0.75 percent.

Elite Money Market Accounts have a minimum opening balance of $50,000. Elite Money Market Accounts with balances of $50,000 to $249,999 earn a rate of 1.00 percent and an APY of 1.00 percent. Balances of $250,000 or more earn a rate of 1.24 percent with an APY of 1.25 percent.

For current savings account rates and money market account rates go to cunj.org.
 
Author: Lisa Graham
April 8th, 2010