A money market account is a type of savings account. Money market rates are typically higher than other types of savings accounts while offering access to funds more easily than many investment accounts. Deposits to credit union money market accounts, such as the Money Market accounts we offer at SCCU, are insured by the National Credit Union Administration (NCUA), a U.S government agency.
A money market account (MMA) may also be referred to as a money market deposit account (MMDA) or money market savings account. Please note that money market deposit accounts are not the same as money market funds or money market mutual funds.