Posted by William Charles on December 16, 2018
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Published on December 16th, 2018 | by William Charles

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[OH only] Kemba Financial Credit Union Money Market 3% APY For 12 Months (On Balances Up To $250,000)

Offer at a glance

  • Interest Rate: 3% APY for 12 months
  • Minimum Balance: $25,000
  • Maximum Balance: $250,000
  • Availability: Ohio only
  • Direct deposit required: Yes, $1,000+
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • Kemba is offering 3% APY on the Kemba Money Market account for the first 12 months. To receive the 3% rate you need you need to be an Advantage member. That requires completing the following requirements each month:
    • 15 transactions/month (debit card, direct deposit, bill pay)
    • $1,000+ direct deposit/month
    • Estatements

The Fine Print

  • Offer valid on new money only (new money defined as money not on deposit with KEMBA in the past 12 months).
  • Money currently on deposit at KEMBA is not eligible for this offer.
  • Limit one Money Market Account offer per Primary member and Business member.
  • Not available to members or Businesses with a current Money Market Account.
  • Not available with any other special offers or promotions.
  • The special rate is available through the end of the 12th month from the date the Money Market Account is opened. For example, a Money Market Account opened November 15, 2018 would earn the special rate through November 30, 2019.
  • The Rate for this promotion will revert back to the prevailing Money Market Account rates and tiers after the end of the 12th month.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees to worry about

Our Verdict

This is only 0.5% APY higher than the top basic savings account rate currently. For most people this isn’t going to be worth the effort involved, but if you have a lot of liquid funds then the extra 0.5% could make a huge difference (e.g 250k at 0.5% APY is an extra $1,250).

Hat tip to reader Scott S

 


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