Savings & Flexibility for your Business
Business Money Market Account, Indexed Money Market Account and certificates offer competitive rates, pay dividends monthly, and allow unlimited deposits and in-person withdrawals. All Business Money Market Accounts can be set up as overdraft protection on your Altra Business Checking Account.
Business Money Market Rates
Rates effective April 1, 2024; subject to change.
| Minimum Balance | Dividend Rate | APY* |
| $0-$9,999 | 1.884 | 1.90 |
| $10,000-$24,999 | 1.982 | 2.00 |
| $25,000-$74,999 | 2.080 | 2.10 |
| $75,000-$249,999 | 2.276 | 2.30 |
| $250, 000 & over | 2.374 | 2.40 |
*APY=Annual Percentage Yield. The dividend rate and annual percentage yield may change at any time at the credit union's discretion.
Business Money Market Account – Dividends compounded monthly and paid monthly. The dividend period is monthly. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account. Account earns 0.10% APY if balance falls below required amount.
For Money Market and Savings accounts, we may require the governing body of the organization opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the organization. We may require separate documentation to open an organization account. If you close your account before dividends are paid, you will not receive the accrued dividends.
Indexed Money Market Rates
Rates effective April 1, 2024; subject to change.
| Minimum Balance |
Dividend Rate | APY* |
| $0,000-$249,999 | 0.100 | 0.10 |
| $250,000-$499,999 | 4.400 | 4.49 |
| $500,000-$749,999 | 4.592 | 4.69 |
| $750,000-$999,999 | 4.975 | 5.09 |
| $1,000,000 & over | 5.357 | 5.49 |
*APY=Annual Percentage Yield. For the Altra Indexed Money Market accounts, dividends are compounded monthly and paid monthly. The ending balance of the account each day is multiplied by a daily rate (rate divided by the interest base of 365 or 366 days) and then accrues / accumulates until posted. Dividends will begin to accrue on the business day you place non-cash items (for example, checks) to your account. Applies to non-individuals or entities other than an individual depositor: We may require the governing body of the organization opening the account to give us separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the organization. We may require separate documentation to open an organization account. If you close your account before dividends are paid, you will not receive the accrued dividends. Please read Altra’s Account Disclosure and Agreement that may also apply to organizational accounts. Available to both Business and Retail Members.
