Money Market Select

Named 2023 Best Money Market Account for small balances by Investopedia.

Build your savings and earn up to 2.00% APY1

Like a savings account, our Money Market Select account pays interest and is insured by the National Credit Union Administration (NCUA). The difference is that this account lets you write checks2, and is a reverse tier account — so it offers higher rates than a traditional savings account for smaller balances.

At most banks, only accounts with very high balances can enjoy higher rates. But at Patelco, the first $2,000 (or less) deposited into our Money Market Select account earns the highest interest rate. We care about every member’s financial wellbeing and are committed to helping and encouraging new savers to build good savings habits.

Product Benefits

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Top-rated Mobile App and Online Banking

Access your accounts on the go

Unlimited Deposits

Unlimited Deposits

Set up monthly direct deposits or automatic transfers and grow your savings


30,000+ Fee-free ATMs

Find one near you on our Mobile App

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Overdraft Protection for your Checking Account

Link to your checking and pay no overdraft fees

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Free Checks2

Limited to 3 per month

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Insured by NCUA

Safe, secure way to save

Money Market Select Account and Money Market Select IRA

Rates Effective 12/1/2022


Min. Balance

Min Balance

Max BalanceAPY1RateDividends Paid
186412None2$2,000.01$5,000.001.50%1.49%Monthly01/12/2022$130,000+ Fee-free ATMs
186523None3$5,000.01 $10,000.001.00%1.00%Monthly01/12/2022

Money Market Calculator

($0 – $99,999,999)
Deposit Distribution APY
$0.00 2.00%
$0.00 1.50%
$0.00 1.00%
$0.00 0.25%
$0.00 0.20%
$0.00 0.15%

Enter your deposit amount to see how much your savings can earn each year.3

Calculations provided are for demonstration purposes only and do not guarantee credit approval for the rate and terms displayed.

Frequently Asked Questions

    Patelco is a member owned, not-for-profit financial cooperative. When you join Patelco, you become a member and a shareholder. That’s why we’ll also open a Share Savings account and deposit one share ($1) in your account when you join.

    Our mission is to help members achieve lifelong financial wellbeing so you can live happier, fuller lives.
    Unlike the big banks or other for-profit financial institutions, we invest our profits back in our members with better rates and low- to no fees.

    We also offer free financial advice to anyone who wants to improve their financial situation. Members have told us that they feel seen, heard, informed, and supported to make more confident financial choices.

    Membership is free and comes with great benefits. You become a member when you open an account with us.

    No. There’s no monthly fee and no minimum balance requirements.

    The Money Market Select account does not require a linked Patelco checking account with a recurring monthly deposit to earn the higher available rate (the Money Market Plus account requires this).

    The interest rate for Money Market Select is also tiered based on your deposit amount, while the Money Market Plus account earns the same yield for the entire account balance (which will be the higher yield if you meet the account requirements).

    Our Money Market Select account dividend is paid at tiered rates based on the deposit amount. For example, you’ll earn 2.00% APY on the first $2,000.00. Then 1.50% APY on the balance between $2,000.01 and $5,000.00 — giving you a combined rate of 1.00% APY. Use our calculator above to see how much your savings can earn each year. For information on the APY for balances above $5,000.00, check our rates page.

    Yes. Your Money Market Select account is insured by NCUA for up to $250,000 (or $500,000 in a joint account for two people).

    Check orders can be made through Patelco Online™ or by contacting us.

Money Market Select IRA

A Money Market Select IRA is a good option if you want insured retirement savings or if you are in transition, such as consolidating your previous employer’s 401k or deciding what to do as you’re starting out:

  • 2.00% APY on balances up to $2,000.001
  • No monthly fees, no minimum balance
  • Deposits and withdrawals subject to IRA limitations4
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1 APY=Annual Percentage Yield. Rates are valid as of 12/1/2022 and are subject to change after account opening without notice. Interest is paid at tier rates on balances within each tier. Total interest paid is the sum from each tier. Blended APY shown assumes the amount entered is held in the account for one year. Withdrawing funds before one year will result in a different realized rate. No minimum deposit required to open an account. Limit one Money Market Select Account and one Money Market Select IRA Account per account number.

2 The maximum number of checks that may clear is three (3) in any calendar month period. Certain withdrawal limits apply to Money Market Select accounts, and contributions to and withdrawals from Money Market Select IRA accounts are subject to IRS limitations. Be sure to view the Member Handbook for details.

3 This calculator is for illustrative purposes only and does not reflect the actual results of any specific deposit amount.

4 Consult a tax advisor about IRA tax advantages.


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