Earn up to 3.50% APY2,28 with a high yield Money Market account
With a Webster First Money Market account, your money works harder for you. You’ll earn tiered dividend rates that reward your growing balance, so you can enjoy higher returns than a traditional savings account offers. And your funds stay flexible, giving you easy access whenever you need them. It’s the smart way to grow your savings.
Open Now Find a BranchWhat is Money Market Account?
A money market account is a savings account that typically offers higher dividend rates than traditional savings while still allowing access to funds. Webster First Money Market accounts use tiered rates, meaning higher balances can earn higher yields while maintaining account flexibility.
Why choose a Webster First Money Market?
- High yield: Money Market Plus up to 3.50% APY2,28 and Money Market up to .15% APY2
- Stay flexible: Unlimited withdrawals and transfers so your cash stays accessible
- Fully insured: NCUA insures all deposits up to $250,000 and all amounts exceeding that are insured by MSIC
- No monthly maintenance fees: We don’t charge to hold your money, so all you do is earn
Who might want a Money Market Account?
- Emergency fund savers
- Conservative investors
- Large cash balance holders
- Retirees
- Short-term savers
- Those wanting liquidity plus yield
Get our best rates with Money Market Plus
Money Market Plus offers higher rates than our regular Money Market account. You'll need to meet three simple criteria28 to qualify:
Have a Webster First checking account
At least 1 direct deposit into your checking account per month
At least 5 debit card transactions from your checking account per month
Current Rates
| Type | Dividend Rate | APY2 | Min Balance7 |
|---|---|---|---|
| Money Market | .15% | .15% | $500,000.00 |
| .15% | .15% | $250,000-$499,999.99 | |
| .15% | .15% | $100,000-$249,999.99 | |
| .15% | .15% | $50,000-$99,999.99 | |
| .15% | .15% | $25,000-$49,999.99 | |
| .15% | .15% | $1,000-$24,999.99 | |
| .10% | .10% | $5.00 - $999.99 | |
| Money Market Plus28 | 3.44% | 3.50% | $500,000.00 |
| 3.20% | 3.25% | $250,000-$499,999.99 | |
| 2.96% | 3.00% | $100,000-$249,999.99 | |
| 1.75% | 1.77% | $50,000.00 - $99,999.99 | |
| 1.25% | 1.26% | $25,000.00 - $49,999.99 | |
| .75% | .75% | $1,000.00 - $24,999.99 | |
| .50% | .50% | $0.00 - $999.99 |
Frequently Asked Questions
Is a money market account safe?
Absolutely! Our Money Market accounts are fully insured, with deposits protected up to $250,000 by NCUA and any amount above that insured by MSIC. Webster First is one of the most fiscally strong credit union’s in Massachusetts and we’ve stayed that way through many economic ups and downs since our founding in 1928.
Can I withdraw anytime?
Yes, your money stays accessible. You can make unlimited withdrawals in person at a local branch, and up to 6 withdrawals per month can be made at an ATM, online, or by phone.
Is this better than a savings account?
It can be, especially if you want the opportunity to earn higher rates while still keeping access to your funds. All tiers of the Money Market and Money Market Plus earn a higher APY2 than our First Rate Savings.
Are there withdrawal or deposit limits?
Unlike a share certificate, you can withdraw however much you’d like at any time without penalty. Deposits are flexible — once the account is open, there are no restrictions on deposit amounts or totals.
What is Money Market Plus?
Money Market Plus is a higher-rate version of the regular Money Market account. It offers better yields, but to qualify, members need to meet three criteria: have a Webster First checking account, receive at least one direct deposit into that checking account each month, and make at least five debit card transactions from that checking account per month.
Savings Goal Calculator
Calculate how much you need to save in a Money Market Account to reach your savings goal by using the above rates to determine your yield.
Open your Money Market account now
Available in Central and Eastern Massachusetts. Must live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member to open. $5 minimum balance to open Money Market. $1,000 minimum balance to open Money Market Plus.
Resources
Award-winning service
2026: Newsweek Best Regional Banks and Credit Unions
2025 Winner: Best of Central Mass
2025: Newsweek Best Regional Banks and Credit Unions
2024 Winner: Best of Central Mass
2024: Newsweek Best Regional Banks and Credit Unions
2023 Winner: Best of Central Mass
Rated 5 Stars by Bauer
