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Money Fund

Pump up your savings.

Are you interested in saving money at a higher interest rate while still having access to your money? One of our insured money fund accounts is just what you’re looking for. Both options offer:

  • Competitive rates, tiered based on your balance
  • Dividends compounded and paid monthly
  • Federally insured by the NCUA
  • Unlimited transactions per month at a branch and a limit of six transactions per month over the phone or through online or mobile banking

Requirements to Open

Money Fund

Premier Money Fund

  • Minimum of $2,500 to open the account
  • Must maintain at least $2,500 to earn dividends  
  • Minimum of $25,000 to open the account, $5,000 of which must come from money not currently on deposit at LOC
  • Active LOC checking account with VISA check card
  • Must maintain at least $2,500 to earn dividends 

If conditions are not met, the premier money fund will revert to the regular money fund rate.

Rates

Money Fund (Variable)
Effective Date: Saturday, May 27th, 2017
Minimum Deposit AmountRateAPYDividends Paid
$2,500-$9,999 0.05% 0.05% Monthly
$10,000-$49,999 0.10% 0.10% Monthly
Over $50,000 0.15% 0.15% Monthly

APY = Annual Percentage Yield

Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to open and to earn dividends. Dividend rate is subject to change at any time.

Premier Money Fund (Variable)
Effective Date: Saturday, May 27th, 2017
Minimum Deposit AmountRateAPYDividends Paid
$25,000-$49,999 0.10% 0.10% Monthly
$50,000-$74,999 0.15% 0.15% Monthly
$75,000-$99,999 0.15% 0.15% Monthly
Over $100,000 0.15% 0.15% Monthly

APY = Annual Percentage Yield

To qualify for the Premier Money Fund, the same account number must have a checking account and VISA debit card. If conditions are not met, the premier money fund will revert to the regular money fund rate. The minimum opening deposit is $25,000 and must include at least $5,000 in new money (not previously on deposit at LOC).

 

Balances below $25,000 will earn the regular Money Fund rates for the days they are below the minimum. Dividends are calculated using the daily balance, paid and compounded monthly. $2500 minimum balance required to earn dividends. Dividend rate is subject to change at any time.

 

Looking for more options?

Check out our wealth management services.

Learn more 

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Contact Us

Toll Free: 800.837.4562

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