K.I.S.S. Money Market Account

Makes Saving So Simple, You Won't Lift a Finger!

"Change" the way you think about SAVING! Remember the old adage that “a penny saved is a penny earned”?  Infinity Federal Credit Union (FCU) is bringing it back with our KISS Money Market account.  The “simple saving” round-up feature of Infinity FCU’s KISS Money Market account helps you to save automatically every time you make a debit card purchase, while earning higher interest on your savings.  

How It Works:

The KISS Money Market account can be opened with as little as $25.00.  Once in place, the amount of any Infinity FCU Debit Card purchase posted to your Share Draft (checking) account will be rounded up to the next whole dollar.  The difference or "spare change" remaining from the debit transaction will be transferred automatically into the KISS Money Market account.  It is that simple!

EXAMPLE: Purchases are rounded up to the next whole dollar - Use your debit card to purchase a cup of coffee for $2.75. You would deduct $3.00 in your checking account ledger, because the next business day, the rounded up amount (.25 cents) would automatically be transferred into your KISS Money Market account.  "a penny saved is a penny earned!"

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With KISS, it’s much easier to keep track of your Share Draft (checking account) balance.  Because your purchases will always be rounded up to the nearest dollar amount, simply round up the transaction amount in your checkbook ledger each time you make a debit card purchase. Your monthly statement will contain an itemized list of completed transactions, provide a record of the aggregate “Simple Saving” transfers, and list the new balance of your KISS Money Market Account.

More Info:

  • If your Share Draft (checking) account is shared/ has a joint user,  the debit card purchases from ALL debit cards on the account will be rounded up and will ALL collectively contribute to the KISS Money Market account.  
  • Rounded up amounts from purchases are always deposited on the day AFTER the transaction is posted to your Share Draft (checking) account, and in one lump sum/ aggregate amount.    
  • The Transaction Description on your statement will be:  “Simple Saving Money Market”
  • Both signature-based and PIN-based debit card transactions will qualify for the KISS “round up”. ATM transactions do not qualify.
  • The “Simple Saving Money Market” transfer will never overdraw your account.  A minimum balance of $25.00 in the Share Draft (checking) account is required before any transfer will be made
  • There are no term restrictions - so you have full access to your money if you need it!
  • You can view your KISS balance any time in Infinity’s Online banking, or via the IFCU mobile app.

How to Enroll:

  • Stop by your local Infinity branch and speak with any member service representative.  Infinity Federal Credit Union members will need to have an open Infinity FCU Share (savings) account; Infinity FCU Share Draft (checking) account; and Infinity FCU’s Visa Debit card.  The opening deposit is $25.00. 

Rules:

KISS Money Market offers two dividend rate tiers:

$10,000 and over 0.10%APY*

$0 - $9,999 0.25%APY*

  • Rate applies to the entire balance, not just the amount over the tier threshold
  • Tiered rates are based on money market environment and may change weekly
  • Dividends are earned daily and credited to the account at the end of each calendar month
  • Due to the number of days in each calendar month, some months may see higher earnings
  • Additions are accepted in any amount, at any time
  • Has no term restrictions - so you have full access to your money if you need it!
  • $25.00 minimum balance to open

*APY= Annual Percentage Yield.  Terms and conditions subject to change without notice.  By opening and enrolling in Infinity Federal Credit Union’s Keep It Simple Saving – Money Market Account, you authorize IFCU to initiate electronic fund transfers from your designated share draft account(s) (which use IFCU Debit Cards), to a designated IFCU KISS Money Market account.  You authorize IFCU to “round up” the amount of any PIN and/or signature based purchase to the next whole dollar amount from any corresponding share draft account(s) and transfer the amount to your designated IFCU KISS account.  Electronic  withdrawals from your share draft account(s) and electronic deposits to your KISS account will be labeled as "Simple Saving Money Market" on your monthly statement. 

Each business day IFCU will aggregate the rounded up amount of all PIN and/or signature-­‐based purchases from your designated share draft account(s) that have IFCU Debit Cards, based on the prior day's activity.  A withdrawal of the “rounded up” funds from each corresponding share draft account(s) will be made and deposited into your designated KISS account.  If on any day the member does not have sufficient funds available (greater than $25.00) in the designated share draft account(s), IFCU will not initiate the transfer of the rounded up funds for that business day.  No partial transfers will be made.  The funds within the IFCU KISS Money Market account will not be used as an overdraft source should other IFCU accounts become overdrawn.

If any PIN and/or signature-­‐based purchase is subsequently cancelled or reversed, the corresponding transfer of rounded up funds will not be reversed.  The funds will remain in the KISS money market account.  IFCU reserves the right to cancel the “Simple Saving” program at any time upon 30-­‐days written notice to you. 

Rate Information:  Rate may change after account is opened.  For the current dividend rate and corresponding APY (Annual Percentage Yield) for the KISS Money Market account, see IFCU’s Rate schedule.  See Membership Agreement for additional terms specific to Money Market accounts in general. (transaction limitations; rate periods; and balance information)