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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35468  
Subject: It it's too good to be true Date: 6/13/2003 1:37 PM
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A while back I reported that my credit union had a new money market checking account option, with far fewer restrictions than the traditional money market (number of checks per month, minimum amount per check), though a higher minimum balance ($5000 vs $2000) and a penalty for going below that balance. The initial yield for the new option was about twice that of the traditional money market, and a lot higher than CDs shorter than 4 years.

I hesitated, because I didn't believe the high yields were more than a loss leader to attract people t the new option. Just checked and the new option's yields have suddenly descended to reality: just slightly higher, with the $5000 minimum, than the traditional MM with $2000 balance, and less than the traditional MM with $10,000 balance.
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