Baton Rouge Telco is a not-for-profit organization and this means we pass our revenue back to members, instead of outside shareholders. You get revenue in the form of higher rates on savings, lower rates on loans, and fewer fees. Plus, you get friendly local service instead of dealing with a nationwide financial institution.
Federal guidelines state you can make up to six withdrawals per month without a fee. (You can make additional withdrawals if from an ATM or in-person teller).
There's no monthly maintenance fee and no minimum balance fee on our Money Market Savings Account. This means there's no charge if your balance falls below $2,500, though you won't earn the highest interest rate.
You can see our competitive rates table here. You'll earn the maximum rate as long as you maintain the minimum balance of $2,500.
Certificate Accounts offer a higher rate than a Money Market Savings but in return, you need to commit your funds to a term of between 3 months and five years. You get higher rates the longer you commit the funds, and you get penalized for withdrawals. With a Money Market Savings, you can earn a good rate without tying up your funds for a fixed term.
The rate you get for a Money Market Savings Account is higher than for a regular Savings Account because the minimum deposit is $2,500 compared to $5. You also need to maintain a minimum balance of $2,500 to earn the higher rate and annual percentage yield (APY). Both accounts let you make a certain amount of withdrawals.