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.

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.

0.30*%$500k-SECUAdvantage Money Manager
OTHER TIERS: 0.20% $25k - $100k | 0.25% $100k - $500k
0.20*%$100k-SECUMoney Manager
OTHER TIERS: 0.10% $2k - $25k | 0.15% $25k - $100k
Rates as of February 28, 2024.

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.

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.

Related Pages: Washington money market accounts, Baltimore money market accounts, Salisbury money market accounts, money market accounts

  |     |   Comment #1
Note also that Marcus Bank (Goldman-Sachs) still has their 2.00%11-month No-Penalty CDs available (minimum balance $500). Their website makes in fairly simple to open and fund these.
  |     |   Comment #2
I became a member of SECU many years ago by signing up, via the net, and paying my tuition for some two-bit course at a Maryland educational institution. Never did attend the class. I don't live anywhere near Maryland. But I was enrolled as a student.

There is no way for me to know if this same approach would still work now. I remain an SECU member, though. It's a good CU.

This seems an attractive deal to me.  Thank you, Ken, for posting.  Unfortunately I won't have money until April.  Hope deal is extended.
SECU of Maryland Raises Rates On 3- And 5-Year CDs

SECU of Maryland recently raised the rates on its 3-year CD (1.50% APY) and 5-year CD (2.25% APY). Either of these CDs can be opened with a $500 minimum deposit and there are no maximum balance caps. Both CDs are also offered as IRAs (Traditional) at the same rates, with the same funding requirements.

The Early Withdrawal Penalty, as stated on SECU’s Disclosure Page, is as follows:


While SECU’s name would suggest its field of membership is limited to state employees, there are several...

Continue Reading
$150 Checking Account Bonus at SECU Credit Union in Maryland - Local Only
SECU Credit Union is offering a checking account promotion in which you can earn up to $150. Offer is scheduled to last through 5/15/09. The offer doesn't seem to be listed at the credit union's website. It was mentioned on this FW thread with a link to this online ad (pdf). The ad's small print has the details. Here's a summary:
  • Depositors must claim residency in MD, VA, PA, DE, WV or DC and not be a current or past SECU checking account customer
  • $50 cash bonus for opening a new SECU...

Continue Reading
3.51% 18-Month CD at SECU Credit Union in Maryland
SECU Credit Union has some competitive CD rates. The most competitive include a 3.51% APY 18-month CD and a 4.00% APY 30-month CD. Minimum deposit is $500. There's also an attractive rate of 3.75% APY on the Jumbo 2-year CD. Minimum deposit is $100K. These same rates are also available in Tradition, Roth and Educational IRA certificates. In addition, there's an IRA-only 15-month CD with an APY of 3.51%. These rates are listed in the CD rate table and in the IRA rate table as of 1/22/2009. Most of these...
Continue Reading
4.85% 18-Month CD at a Maryland Credit Union (SECU)
SECU Credit Union has a new CD special with a yield of 4.85% APY and a term of 18 months. The minimum deposit is $500. This seems to replace the previous 13-month special that I reported on last week. This new one has a new restriction. The small print states that the depositor must claim residency in MD, VA, PA, DE, WV or DC, or must be a SECU member prior to 9/1/2008. This same CD is also available as an IRA certificate.

Membership is open to alumni, full and part-time...

Continue Reading
4.50% 13-Month CD at a Maryland Credit Union (SECU).
Update 9/12/08: The 13-month CD special has ended. Please check the credit union's website for the latest rates and specials.

SECU Credit Union is offering a certificate of deposit with a yield of 4.50% APY and a term of 13 months. The minimum deposit is $500. Funds have to be new to the credit union. There's also a good deal on an IRA certificate which has a yield of 4.75% APY and a term of 15 months.

You might remember SECU from last year when they came out with a promotional 7-month...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.