It's when you want to save to pay an insurance premium ... or for your daughter's wedding ... or for a vacation ... or just any reason that you want a separate savings account.
The Mad Money account accrues dividends daily and dividends are posted quarterly. You can make deposits or withdrawals at any time, and there is no minimum balance required in the Mad Money account.
Dividends are paid from current earnings of the credit union after all required reserve transfers have been made. The board of directors sets dividend rates at the end of the quarter and dividends are posted to each member’s account on the last day of each quarter.
The Mad Money account is for members to use to manage their finances - and to make rainy days more bearable.
Mad Money
