A Closer Look at High Balance Account Options
If you’re looking for high-balance account options, take a little time to review the options and get the best fit for your needs. Your earning potential, as well as liquidity of funds, are important considerations and differ by account type. Take a closer look at two of our popular options that offer tiered rates, based on larger balances than our standard savings and checking account.
Premium FREE Checking:*
This account has all the great features of our FREE Checking account, but is designed for those with higher balances who prefer everyday access to their account. As it is a checking account, it’s meant to be used as a transactional account, so there are no withdrawal limitations. Access to this account is available by: check, debit card, ATMs, Online or Mobile Banking, and Web BillPay. There’s a minimum opening balance requirement of $10,000 and it earns dividends based on your balance:
$10,000 - $24,999.99
$25,000 and over
If the balance in this account falls below $10,000 any day during the month, there will be no dividends paid on that day of the month.
Money Market Plus Account:*
This savings account is designed for those with larger balances, looking to earn a higher yield on their money, without the need for everyday access to their funds. There is no limitation on the number of deposits that can be made; however, as this is a savings account, it’s not meant to be used as a transactional account, like the Premium FREE Checking account. It’s subject to Regulation D (as are our other Savings/Share accounts) and during the calendar month, no more than six (6) withdrawals or transfers to other GECU accounts or external accounts can be made using: Online or Mobile Banking, ACH or electronic funds transfer, Sourceline, the phone, or fax; a special set of MMA checks are provided – but when used, they count against the monthly Regulation D limit. However, there are unlimited transactions in person and by ATM withdrawal.3 This account has a minimum opening balance requirement of $10,000 and earns dividends based on balance:
$10,000 - $49,999.99
$50,000 and over
If the balance in this account falls below $10,000 any day during the month, the rate reverts to the current share rate for the entire month.
The more you understand your options, the more confidently you can choose the account(s) that works best for your goals. No matter what form of accessibility you’re looking for or which type of dividend structure fits your needs, your funds can grow in a safe and secure environment. Our great savings options don’t end there; take a look at what else we have to offer and browse our outstanding deposit rates!
*Please refer to the Know Your Share and Share Draft Accounts disclosure for all account and funds availability information.