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[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
5.38% Money Market at MECU
MECU, Motorola’s credit union, has a great deal on money markets right now if you have a lot of money to invest. They’re offering a 5.38% APY on a minimum of $100,000 in their normal money market, as well as their IRA money market and Health Savings Account money market. If the deposit goes below $100,000, the rate drops significantly to 4.64% APY. (In that case, you might do better with Countrywide’s SavingsLink savings account, currently earning 5.30% APY.)
MECU is open to employees, retirees, and contract employees of Motorola, Inc. and its subsidiaries, and anyone related to these individuals or related to current MECU members by blood or marriage, including domestic partners. MECU has 12 branches, including seven in Chicago’s northern suburbs: Three in Schaumburg, two in Arlington Heights, and one each in Deer Park and Libertyville.
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