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Reach new heights with up to APY.*
Here's a calculator to help you determine how much you’ll earn over time depending on your deposit amount. The more you save, the more you earn.
This calculator is for illustrative purposes only and does not reflect actual dividend earnings. APY is subject to change. Withdrawing funds will result in a different amount of dividends paid. The Level Up Money Market APY for this example is %. View rates & disclosures
Myth – A money market account does not allow me to access my funds when I need them.
You to have unlimited access to your funds. Money market accounts earn higher dividend rates than a regular savings account, while keeping your funds liquid.
Myth – A money market account is an investment account and puts my money at high risk.
This is a common misconception. The word “market” can be misleading. A SAFE money market account allows you to keep your money safe and earn a variable dividend rate. All your SAFE Credit Union funds are NCUA insured to at least $250,000 (much like FDIC for a bank).
Myth – The minimum deposit and ongoing balance requirement is higher than I can afford.
The minimum initial deposit requirement for the Level Up Money Market is $25. When you have an average daily balance of $2,000 or more in your account, there will be no monthly service fee applied.*
Dividend Rate
Many deposit accounts, including a money market account, pay a rate of interest (banks) or a rate of dividends (credit unions). The quoted rates are applied to balances in the accounts, and financial institutions pay dividends monthly, quarterly, semi-annually or annually; SAFE pays them monthly.
If you have $100,000 on deposit and the account earns a 1.00% dividend rate, you will receive approximately $82 a month. That rate is calculated by multiplying the dollar amount and dividend rate and dividing that total by 365 multiplied by the number of days in month. (100,000 X 1.00%)/365 X 30= $82.19 /month.
The dividend rate does not take into account the compounding of earnings within the year. That’s where APY comes into play.
APY (Annual Percent Yield)
Many accounts, including a money market account, also have an annual percentage yield (APY), which measures the total amount of earnings on an account based on the dividend rate and the frequency of compounding. It takes into account the earnings made on your original deposit, as well what you earn on top of the other earnings.
So, back to that account with $100,000 in it. In month one, you earn about $82, bringing your balance to $100,082. The next month, that 1.00% dividend rate is now applied to $100,082. You’ve now earned $82.26 in dividends for that month, bringing your account balance to about $100,164.26, and so on.
Earn More Today
* To qualify for the $50 Level Up Money Market Incentive Program (Program) rewards (bonuses), the SAFE member must comply with SAFE Program criteria to earn the bonus. Account application must be submitted through SAFE Online Banking or the Contact Center; in-branch submissions do not qualify. Participant must be 18 years or older and qualify for membership or be an existing Member. Level Up Money Market Criteria: The SAFE member cannot have an open SAFE money market account or had a money market account that was closed within the previous 12 months, reporting under their Tax Identification Number. The SAFE member will receive a bonus if (1) they open a SAFE Level Up Money Market account with a minimum of $25 and (2) increase balance to $5,000 or more within thirty (30) days from account opening. Annual Percentage Yield (APY) accurate as of 9/1/2024 Under $10,000 - 2.02% APY, $10,000.00-$24,999.99 - 2.02% APY, $25,000.00-$49,999.99 - 2.53% APY, $50,000.00-$99,999.99 - 2.78% APY, $100,000.00-$249,999.99 - 3.04% APY, $250,000.00 & over - 3.30% APY. Variable rate may change after account opening. Monthly fee of $12 waived if average daily balance equals $2,000 or more. Waived for Capitol Club. Bonus: The SAFE member must be in good standing at time of bonus disbursement. Bonus will be disbursed in the form of a Visa® Prepaid Card emailed by a third party, tangocard.com, to the SAFE member’s email within ten (10) business days after product criteria is met. Neither SAFE nor any third-party providing Program services will have any liability to SAFE member for failure to deliver prepaid card redemption email due to invalid email address. Additional Terms: Fees may reduce earnings. SAFE complies with applicable tax reporting requirements. SAFE member is responsible for any federal, state, or local taxes on bonus. SAFE Level Up Money Market account rates, fees, and terms can be viewed at www.safecu.org and will be provided prior to account opening. Program subject to change or cancellation without notice. Cannot be combined with other account-opening offers.
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