Forward Bank
Charitable Money Market Account
An account that offers a savings rate with the convenience of a checking account. This innovative account allows you to designate a charity and the bank will make a contribution on your behalf.
Since its inception, we've given over $2.2 million to over 400 worthwhile organizations!
To provide a consistent donation stream for our local charities on behalf of our customers, we've created the Charitable Money Market Account (CMMA).
Features
- No Minimum to Open
- Monthly $5 Fee if Average Balance Falls Below $100
- Interest Posted Monthly ($100 Minimum)
- Free Debit Card
- The bank will donate 0.10% of your average balance to the non-profit of your choice - no money is taken from your account
- Limited to six (6) pre-authorized withdrawals or automatic transfers per calendar month
- Digital Banking (Online + Mobile Banking)
- Overdraft Protection Available
Charitable Money Market Account Rates
| Account | Minimum to Open | Interest Rate | APY** | Minimum to Earn APY** |
|---|---|---|---|---|
| CMMA* | $0 | 0.35 | 0.35 | $100 |
| CMMA* | $0 | 0.70 | 0.70 | $50,000 |
| CMMA* | $0 | 0.85 | 0.85 | $100,000 |
| CMMA* | $0 | 1.20 | 1.20 | $250,000 |
| CMMA* | $0 | 1.35 | 1.36 | $1,000,000 |
These interest rates are subject to change without advance notice.
APY assumes interest is added to account.
Term Certificates of Deposit and IRA’s may be subject to early withdrawal penalty.
**APY=Annual Percentage Yield.
*Rates could change after account is opened.