Prefer a fixed term? Our 11-Month CD offers 4.50% APY* with a minimum of only $2,500.Learn More
* Personal Accounts Only. The interest rate and Annual Percentage Yield (APY) for these accounts are effective as of June 2, 2023 and are subject to change. Fees assessed to accounts may reduce earnings.
** You may make no more than six preauthorized withdrawals, automatic or telephonic transfers, checks, drafts, and debit card or other similar transactions from your account per month or statement cycle. We may close your account, take away any ability to transfer and write checks or convert the account to a checking or other transaction account if these restrictions are violated.
*** Visa®’s Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa®, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. It also excludes a transaction made by a person authorized to transact business on the account and/or a transaction made by a cardholder that exceeds the authority given by the account owner.
^ The minimum balance requirement is waived for the first 3 months after the account opening date.
Frequently Asked Questions
Q. What is a High-Yield Money Market Account (MMA)?
A. High-Yield Money Market Account is a type of account that offers a higher interest rate and limited check-writing abilities. It provides a safe place to store your money while earning interest at a rate that is higher than a traditional savings account.
Q. Are there any fees?
A. You will not be charged any fees if you maintain a minimum of $10,000 in your account.
Q. What is the minimum monthly balance requirement?
A. You can open a High-Yield Money Market Account with a minimum of $100. If you maintain a minimum daily balance of at least $10,000 per statement period, you will not be charged a $15 monthly maintenance fee. You have a three-month grace period to meet the monthly minimum balance requirement.
Q. Can I add money to my High-Yield Money Market Account?
A. Yes, you can add money to your account anytime. The High-Yield Money Market Account has a tiered interest rate, so the more you save, the more you earn.
Interest rates have continued to climb to levels not seen in recent years and have impacted many consumers’ financial situation and goals. A recent WSFS study found that regional respondents said building an emergency fund (52%) is their top goal, followed by increasing savings in retirement accounts (49%).
With interest rates rising and record high inflation over the past year, many consumers are looking for ways to save more money. For those who have built up a solid nest egg, rising interest rates can present an opportunity to grow their savings through tools like high-yield money markets.
With inflation continuing to drive costs higher for everyday products and services, large purchases like vehicles and more, many people are looking for ways to save and keep a balanced budget in any way they can.