SECU (MD) Money Manager Account Has 6-Month Rate Guarantee

Deal Summary: Money Manager Money Market, 2.05% APY, $10k minimum opening deposit of new money, $5 million maximum deposit, 6-month rate guarantee.
Availability: Affiliation (current or past) with more than 1,400 Maryland employers, more than 300 Maryland state agencies, and 45 different Maryland schools.

Now through March 31, 2020, SECU is offering a promotional rate on new Money Manager accounts. Balances between $10k and $5 million will earn 2.05% APY, with the rate guaranteed for six months following account opening. If the account balance exceeds $5 million during the first six months, the current non-promotional rate (0.45% APY) will apply to the balance over $5 million.

2.05*% $10k $5m SECU Money Manager Intro Rate (First 6 Month) – New Money
OTHER TIERS: 0.45% $5m+

After the promotional 6-month period, the account will return to the normal tiered APYs of either the Advantage Money Manager or Money Manager account.

0.55*% $500k SECU Advantage Money Market
OTHER TIERS: 0.45% $25k – $100k | 0.50% $100k – $500k
0.45*% $100k SECU Money Manager
OTHER TIERS: 0.35% $2k – $25k | 0.40% $25k – $100k

New and existing SECU members are eligible for the promotional rate, but a new Money Manager account must be opened with new money, which is defined as funds not transferred from an existing SECU account.

According to the Money Market Intro Rate FAQs page,

Do I have to deposit $10,000 on the day I open the account?

    Yes. To qualify for the 2.05% APY intro rate, you must open the account with $10,000. For example, if you open the account on February 3 with $2,000 and then add an additional $8,000 on February 4, you will NOT be eligible for the promotional introductory rate. The account balance on the day the account is opened must be at least $10,000.

There is no monthly maintenance fee or account opening fee. An ATM/Debit Card is available and there is limited checking writing. According to CSR, it is impossible to complete a transaction beyond the six allowed per month, so there is no excessive transaction fee.


Headquartered in Linthicum, Maryland, SECU (formerly the State Employees Credit Union of Maryland) has a field of membership (FOM) that isn’t easily categorized. SECU describes it this way: “You don’t have to be a state employee. Most Marylanders are eligible to join SECU.”

Eligibility is based on your affiliation (current or past) with a Maryland employer, agency or organization (such as a state university or labor union), or by being related to someone who is membership-eligible.

Work: Employees of more than 1,400 Maryland companies, as well as their immediate family members, are eligible.

School: Your association, current or past, with 45 different Maryland schools makes you eligible for SECU membership. Association includes full- or part-time students (a single class taken qualifies), faculty, alumni, employees, or former employees, as well as their family members.

State Agency: Your association, current or past, with more than 400 Maryland state agencies or state funded organizations/entities makes you eligible for SECU membership. Association includes employees, former employees, and their family members.

Family: Anyone within the immediate family of a SECU member, or of someone who is membership-eligible, can join SECU. Immediate family is generously defined as “parents, grandparents, spouses, children (including step, adopted and foster children), grandchildren, siblings, brothers/sisters-in-law, parents of spouse, sons/daughters-in-law, aunts and uncles, nieces and nephews, and any member of the household.”

For complete details, please refer to Field of Membership page.

Joining SECU and/or opening a Money Manager account can be online, or at any of 24 Maryland branches located in Annapolis (2), Baltimore (4), Bel Air, Berwyn, College Park, Columbia, Crofton, Derwood, Ellicott City, Glen Burnie, Hagerstown, LaVale, Linthicum, Millersville, Owings Mills, Pasadena, Salisbury, Silver Spring, Timonium, and Towson.

After competing your personal information, choose Money Manager Money Market in the My Offers screen on the application and deposit a minimum of $10,000 to qualify for the 2.05% APY intro rate.

A minimum $10 deposit in a Share Savings account establishes an SECU membership.

SECU participates in the CO-OP ATM network.

With over 100 SECU-owned ATMs in Maryland and thousands of free network ATMs, including most Maryland Target locations and 7-Eleven™stores nationwide, SECU has the largest free ATM network in the U.S.

Credit Union Overview

SECU has an overall health grade of “A” at, with a Texas Ratio of 6.00% (excellent) based on September 30, 2019 data. In the past year, SECU increased its total non-brokered deposits by $92.35 million, an above average annual growth rate of 2.89%. Please refer to our financial overview of SECU (NCUA Charter # 66330) for more details.

Established in October 1951 in a hallway of a Baltimore office building, SECU had 33 members by the end of the first month and assets of $3,487. Appropriately, SECU’s first member was the State of Maryland’s “first employee,” Governor Theodore R. McKeldin. Within three months, SECU made its first loan ($180) and began its journey to becoming the largest credit union in Maryland. Nearly seventy years later, SECU has more than 257,000 members and assets in excess of $3.7 billion, making it the 57th largest credit union in the country.

How the Money Manager Compares

I’ve opted to make this comp section as specific as possible by comparing SECU’s Money Manager account to nationally available money market accounts that currently offer a rate guarantee. Based solely on APYs, SECU’s Money Manager shares the top spot with Sun East Federal Credit Union’s Max-Yield Money Market, but with a smaller minimum opening deposit and a longer rate guarantee period, the Max-Yield Money Market edges ahead.

Interest Rate Account Name Credit Union/Bank
2.05% APY Max-Yield Money Market Promo ($5k min, 13 month rate guarantee) Sun East Federal Credit Union
2.05% APY Money Manager ($10k min, 6 month rate guarantee) SECU
2.00% APY Online Money Market ($100 min, rate guarantee through 7/31/2020) Patriot Bank
1.75% APY Yield Pledge Money Market (no min, 1 year rate guarantee) TIAA Bank

The above rates are accurate as of 2/14/2020.

To search for the best Money Market Account rates, either nationwide or state specific, please refer to DA’s Money Market Account Rates Table page.

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