What is a money market account?

Like a savings account, a money market account is designed to help you save and earn higher interest. Money market accounts are especially good for building up your emergency savings and are insured by the National Credit Union Administration (NCUA) just like our other savings accounts.

One of the biggest benefits of a money market account over a savings account is that the interest rates are usually far superior. And at Patelco, we’ve got one of the highest rates around. In fact because of our high interest rates, Patelco’s money market account has been named The Best Money Market Account in 2021 by Investopedia.2

At many banks, only accounts with very high balances can enjoy higher savings rates. But at Patelco, the first $2,000 deposited into our Money Market Select Account earns the highest interest rate.  We care about every member’s financial well-being and are committed to helping and encouraging our savers to build good savings habits.

Check out the chart below to see how much you could earn.

See your savings grow

You earn…

On your balance of:

1.00% APY

$0.00 – $2,000.00

0.50% APY

$2,000.01 – $5,000.00

0.30% APY

$5,000.01 – $10,000.00

0.25% APY

$10,000.01 – $50,000.00

0.20% APY

$50,000.01 – $100,000.00

0.15% APY

$100,000.01 – $9,999,999.99


For example:

A $5,000 deposit earns a blended APY of 0.70%

A $10,000 deposit earns a blended APY of 0.50%

A $25,000 deposit earns a blended APY of 0.35%

Money Market Calculator

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

($0 - $99,999,999)
Deposit Distribution APY
$0.00 1.00%
$0.00 0.50%
$0.00 0.30%
$0.00 0.25%
$0.00 0.20%
$0.00 0.15%

Enter your deposit amount and see how much you could earn when you move your money to Patelco's Money Market Select Account3.

  • 1.00% APY on balances up to $2,000.001
  • Liquid savings
  • No monthly fees, no minimum balance
  • Dividends paid monthly
  • Free checks4
  • 1.00% APY on balances up to $2,000.001
  • No monthly fees, no minimum balance
  • Deposits and withdrawals subject to IRA limitations5

Simple, secure benefits


30,000+ Free ATMs Nationwide

30,000+ Free ATMs Nationwide

Find the ATM location nearest you

Find an ATM
Online banking

Online & Mobile Banking

Online & Mobile Banking

Manage your money securely from virtually anywhere.

Discover Mobile Banking
No minimum balance

No Minimum Balance or Fees

No Minimum Balance or Fees

An easy way to make your hard earned money work harder

Direct Deposit

Unlimited Deposits

Unlimited Deposits

More flexibility to grow your savings

Overdraft Protection

Can be used as overdraft protection

Can be used as overdraft protection

No-cost peace of mind for your accounts

No penalty

No Overdraft Transfer Fee

No Overdraft Transfer Fee

With your Money Market account as overdraft protection, there's no transfer fee to replace overdrawn funds.

  1. APY=Annual Percentage Yield. Rates are valid as of 6/14/2022 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. Sources: Investopedia
  3. This calculator is for illustrative purposes only and does not reflect the actual results of any specific deposit amount.
  4. Certain withdrawal limits apply to Money Market Accounts and contributions to and withdrawals from the Money Market Select IRA Account are subject to IRS limitations, be sure to view the Member Handbook for details.
  5. Consult a tax advisor about IRA tax advantages.

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