Message Font: Serif | Sans-Serif
No. of Recommendations: 0
"If you shop at a bank, or perhaps a savings bank or credit union, some teller may try to sell you on the bank's "money market fund." Most likely, the teller is offering to open a money market deposit account for you. Money market deposit accounts are insured financial products, and their yields usually are a little better than the bank's standard savings accounts, however their yields usually are much worse than yields available from money market mutual funds."

Currently, Vanguard's Prime Money Market Fund has a yield of 1.32%. At my credit union, the money market is yielding 2.1% for $2000-$10000, 2.4% for $10000 plus.

Of course, I don't use money markets except for transitions and keeping enough cash in the credit union for budgetary needs and a bit extra for everyday emergencies (car repairs, etc.).
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.