Sandy Spring Bank is offering a competitive money market rate to its customers. The Premier Money Market account is crediting 1.50% APY and is guaranteed to stay at that rate for at least 3 months.

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Teachers Federal Credit Union is offering competitive money market rates to its members. The more you deposit into your money market account, the higher your interest rate will be.

The following balances earn the money market rate indicated:

• $2,500 - $24,999: 1.20% APY
• $25,000 - $49,999: 1.45% APY
• $50,000 - $99,999: 1.55% APY

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Minnesota-based Community Development Bank is offering great rates on its money market accounts. The more you deposit in a Community Development Bank money market account, the higher your credited rate will be.

The following money market rates went into effect on 2/8:

• The Regular Money Market Account is for deposits $2,500-$9,999 - 0.75% APY
• The Super Money Market Account is for deposits $10,000-$24,999 - 1.26% APY
• The Superior Money Market Account is for deposits $25,000 or more - 1.76% APY

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"Keep a balanced portfolio" is one of the most common pieces of advice given to investors. But how do you apply this one-size fits all approach to your portfolio? In a recent article by Paul B. Farrell for MarketWatch, he looks at 10 short-term investing tips that could help bring a more conservative balance to your portfolio.

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Findings from the National Financial Capability Study were released today, December 15, 2009. This study was conducted by FINRA Foundation in consultation with the Department of Treasury and the President's Advisory Council on Financial Literacy.

The study established a baseline measure of the ability of Americans to manage their money, benchmarking four key indicators of financial capability and evaluating how these indicators vary with underlying demographic, behavioral, attitudinal and financial literacy characteristics. This is the first study of its kind to be conducted in the United States.

The study focused on the following four key components of financial capability:

1. Making Ends Meet. Nearly half of survey respondents reported facing difficulties in covering monthly expenses and paying bills.
2. Planning Ahead. The majority of Americans do not have “rainy day” funds set aside for unanticipated financial emergencies and similarly do not plan for predictable life events, such as their children’s college education or their own retirement.

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At a time when small businesses are struggling for cash, Sovereign Bank is offering a stimulus bonus. Open a business checking account and money market account, use the available debit card, and enroll in online banking and you'll receive a $150 cash bonus. This is the equivalent of the interest earnings on a $10,000 deposit accumulating at 1.50% for one year. Looking at it this way, earning Sovereign's $150 cash bonus within 75 days of opening an account is a great deal.

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The deal of the day is best described as a high yield money market account with a short term rate lock. The Premier Plus Money Market Account from Huntington National Bank, a top 50 bank in the U.S., is crediting 1.65% APY. This money market rate is guaranteed for at least 90 days from the account opening date. However, there are some steep stipulations on this offer.

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Regardless of the amount of funds you have available, Ally Bank offers a great money market account for any level of investment. Usually the smaller the initial investment, the lower the money market rate. With Ally, the APY stays constant at all investment levels.

The account is currently crediting a competitive annual percentage yield of 1.65%. There's no minimum balance, no monthly fees and you can open an account online with $0.

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BankFriends researched current money market rates to bring you to the best Annual Percentage Yields (APY) without having to do the work yourself. We have the top five money market rates listed here for several different deposit amounts.

If you invest less than $1,500, the top money market rates are:
(Bank, APY, Minimum Deposit)

1. Ally Bank, 1.70%, $0
2. Bank of Internet, 1.70%, $100
3. Corus Bank, 1.49%, $100
4. Amegy Bank of Texas, 1.35%, $1,000
5. Umbrella Bank, 1.35%, $1,000

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When compared to top money market rates, Flagstar Bank's money market account ranks within the top 5 rates tracked by BankFriends. Flagstar's money market promotional rate is 1.81% APY for all deposit amounts.
Compare Money Market Rates

There are also plenty of benefits to compliment the competitive interest rate. You can open an account online with as little as $1 and there is no minimum balance to maintain. You'll also receive free custom checks for life, a Visa debit card and a free six month subscription to Flagstar Bank's identity theft protection service.

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