High Yield Money Market Savings

Beehive's High Yield Money Market Savings Account offers higher interest for higher balances. High yield accounts pay monthly interest on balances of $30,000 or more with a day-in-to-day-out computation method. See details below:  

High Yield Money Market Accounts – Details

Rate Information – The interest rate and Annual Percentage Yield (APY) may change every month. We may change the interest rate on your account as determined by our Board of Directors.

Compounding and crediting – Interest will be compounded every month. Interest will be credited to your account every month.

Interest period – For this account type, the interest period is monthly, for example, the beginning date of the first interest period of the calendar year is January 1, and the ending date of such interest period is January 31. All other interest periods follow this same pattern of dates. The interest declaration date is the last day of the interest period, and for the example above is January 31.

If you close your account before interest is paid, you will not receive the accrued interest.

Minimum balance requirements – (There are three separate accounts available)

Level 1 – The minimum balance required to open this account is $30,000

Level 2 – The minimum balance required to open this account is $50,000

Level 3 – The minimum balance required to open this account is $100,000

These are separate accounts, they are not tier structured. We will pay interest based upon the Level chosen. You are responsible for making request(s) to open other levels and subsequent transfers and/or deposits.

Day-in-to-day-out computation method – The day-in-to-day-out method calculates the interest based on the ending balance for each day. On the last day of the interest period, this method will pay one day’s worth of interest on each day’s balance.

Accrual of interest on non-cash deposits – Interest will begin to accrue on the first business day after the banking day you place non-cash items (for example, checks) to your account.

Transaction limitations – During any month, you may make up to six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or similar order to a third party. Of these six withdrawals, no more than three may be by check, draft, or debit card. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.

Fees and charges – A service fee of $10.00 will be charged for each withdrawal in excess of six during a month.

All rates subject to change without notice.