Use our handy calculator to see how much you could earn in just one year.
| Deposit Distribution | APY |
|---|---|
| $1.00 - $2,500.00 | 3.04% APY |
| $2,500.01 - $5,000.00 | 1.51% APY |
| $5,000.01 - $10,000.00 | 0.50% APY |
| $10,000.01 - $15,000.00 | 0.25% APY |
| $15,000.01 - $25,000.00 | 0.20% APY |
| $25,000.01 and over | 0.10% APY |
Effective Date: Friday, October 18, 2024
| Deposit Distribution | Dividend Rate | APY |
|---|
| $1.00 - $2,500.00 | 3.00% DR | 3.04% APY |
| $2,500.01 - $5,000.00 | 1.50% DR | 1.51% APY |
| $5,000.01 - $10,000.00 | 0.50% DR | 0.50% APY |
| $10,000.01 - $15,000.00 | 0.25% DR | 0.25% APY |
| $15,000.01 - $25,000.00 | 0.20% DR | 0.20% APY |
| $25,000.01 and over | 0.10% DR | 0.10% APY |
1 Dividend rate and APY may change at the discretion of the Board of Directors.
2 Annual Percentage Yield (APY) if dividends are not withdrawn during this term. Share accounts are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), an agency of the US Government. Yields are determined at the time of investment. A savings account establishing membership with a $1 minimum deposit is required.
The Power Money Market Account is a new Sunward product that offers its highest dividend rate, or APY*, on the lowest amount deposited, up to $2,500. Funds deposited above that amount earn lower rates that are applied in tiers. Rates for each tier are blended into a single rate that applies across the entire deposit amount. No matter how much you deposit, you’ll enjoy a higher rate than with a traditional savings account.
Unlike traditional money market accounts, which earn higher rates on higher balances, the Power Money Market Account offers higher rates on lower balances. This is called a 'reverse-tier' type of account.
The Power Money Market Account is a smart choice to kick-start a savings habit as it offers the return of a high-earning APY without the need for a high deposit balance, and with the liquidity of a regular savings account.
*Annual Percentage Yield
Current Sunward members can apply for a Power Money Market Account online here, from within online or mobile banking, by visiting a branch, or by calling 505.293.0500 or 800.947.5328.
Non-members are invited to apply for membership and open a Power Money Market Account. Membership eligibility requirements apply. Learn more about joining Sunward.
Absolutely! You can apply for membership and a Power Money Market Account at the same time. Membership eligibility requirements apply. Learn more about joining Sunward.
The Power Money Market Account is designed for anyone who wants a higher yield on their deposits while keeping their money available when they need it. It’s a great way to save up for an emergency fund, or to achieve a financial goal such as saving for a vacation or a down payment on a home.
Since lower deposit amounts earn the highest rates, and there is no minimum balance requirement, it’s easy for anyone to get started with a Power Money Market Account and see their deposit balance grow quickly. Members with little to no money in savings, and/or those who do not want to lock their funds in a certificate account, are also great candidates for this type of offering.
Existing Sunward members can establish a Power Money Market Account with as little as $1. To open a new Sunward membership and apply for a Power Money Market Account, a share savings account must also be established with as little as $5.
One Power Money Market Account can be opened per Sunward member (based on their tax ID number).
The Power Money Market Account is not a temporary or 'special' product. However, Sunward may choose to change the rate and/or stop offering new accounts of this type at a future date due to rate/pricing environment changes or other considerations.
Absolutely! Apply for a Power Money Market Account online, from within online or mobile banking, by visiting a branch, or by calling 505.293.0500 or 800.947.5328.
Yes. You can make deposits to or withdraw funds from your Power Money Market Account anytime using your existing Sunward debit card at an ATM. You can also transfer funds to the account from Sunward savings, money market, and checking accounts.
Yes. Your Power Money Market Account can be assigned as overdraft protection.
No. Zelle is only used with checking account funds.
No. Only checking account funds can be used in the Pay Bills function in online and mobile banking.
No. The account cannot be used for payments made by swiping a debit card.
Sunward is not offering the Power Money Market Account to business members at this time. We hope to offer a comparable type of product in the future.
No. Sunward is not offering the option to convert existing Sunward IRA Savings Accounts to Power Money Market Accounts.
