MaxSaver Money Market
Your business has ambitious plans. You'll need some serious cash to carry them out. Our high-yield MaxSaver Money Market can help generate revenues needed to take that next big step.
Max out your earnings with our unique rate structure.
Put every dollar to work.
Many financial institutions set up a tiered rate system for Money Markets. But they often reserve their highest earning rates for six-figure balances that most businesses can't reach. At UVA Community Credit Union, we turn things around, paying the highest rates on the first dollars you deposit. That jump starts your progress, giving your business more money to meet expenses and make strategic investments.
- All balance levels earn higher returns than most standard savings accounts
- Low opening deposit requirement - only $5
- No monthly fees
- No minimum ongoing balance requirement
- No minimum savings period
- Easy access to funds through Online and Mobile Banking and at UVA Community Credit Union locations
- No-risk savings tool with deposits up to at least $250,000 insured by the National Credit Union Administration, an agency of the federal government
The sweet spot for your funds.
- No-risk saving tool
- Low opening deposit
- Unique tiered rate system
- Easy access to money
About those rates
Our Business MaxSaver Money Market uses a tiered rate system. That means different balance levels have different dividend rates. It's worth taking a moment to learn how our tiered rates differ from most others.
- At many other financial institutions, the bigger your balance, the higher the dividend rate.
- And so only businesses with the biggest deposits - often above $100,000 - enjoy the best rates.
- At UVA Community Credit Union, we take a different approach - it's called a reverse waterfall structure.
- Briefly, that means we pay the highest rates to the lowest balance tier. That means that all businesses have some of their funds earning the top rate.
- As your balance increases, the dividend rate paid on those additional dollars gradually decreases.
- So for instance, you might earn 4.00% APR on your first $2,000. You might then earn 3.00% on balances between $2,000 and $5,000.
- To see how it all plays out, please use the calculator below.
How Does MaxSaver Work?
All balances participate in the reverse tier waterfall structure. This means that all balances benefit in the first tier of 4.00% APY1 up to $2,000. If your balance exceeds $2,000, you will participate in the first tier, plus the second tier earning 3.00% APY on balances between $2,000.01 - $5,000. If your balance is more than $5,000, you will participate in the first two tiers, plus the third tier and so on. For large balances over $100,000, you will participate in all tiers.
Here’s how our tiers look, along with examples of our blended rates:2
| Balance to Earn Dividend | Compounding | Dividend Rate | APY1 |
|---|---|---|---|
| $0.01- $2,000 | Monthly | 3.9460% | 4.0182 - 4.0000% |
| $2,000.01- $5,000 | Monthly | 2.9595% | 4.0000- 3.3848% |
| $5,000.01- $10,000 | Monthly | 1.9819% | 3.3848- 2.6863% |
| $10,000.01- $50,000 | Monthly | 1.4898% | 2.6863- 1.7354% |
| $50,000.01- $100,000 | Monthly | 1.2429% | 1.7354- 1.4910% |
| $100,000.01 & Above | Monthly | 0.9954% | 1.4910- 1.0495%2 |
1 APY= Annual Percentage Yield. Rates effective March 1, 2023 and are subject to change without notice. A blended rate account pays a different dividend rate on the amount of funds in each tier. Each dividend rate will apply only to the portion of the account balance within each balance range tier and not the entire account balance. For example, you’ll earn 4.00% APY on balances up to $2,000.00. Then 4.00% - 3.38% APY on your balance between $2,000.01 and $5,000.00, and so on for additional balance tiers. Call 888-887-9136 for current rates, or visit uvacreditunion.org. There is a $5.00 opening balance requirement. Any type of withdrawal will reduce earnings. Membership eligibility required. Federally insured by NCUA.
2 Blended APY range calculated on balances up to $1 million in this tier.
UVA Community Credit Union is a full-service financial institution with locations throughout Virginia's Central Piedmont and Valley area.
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