Michigan Money Market Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Michigan money market deposit account rates include ORSA Credit UnionORSA Credit Union500 S HARVEY ST, PLYMOUTH, MI 48170 1759A5.0 ★Texas Ratio: 7.78%Real return: +1.40%APY minus 2.8% CPI (February 2026) Money Market Account at 4.20% APY, Community Choice Credit UnionCommunity Choice Credit Union31155 Northwestern Hwy, Farmington Hills, MI 48334 2502A5.0 ★Texas Ratio: 6.60%Real return: +1.30%APY minus 2.8% CPI (February 2026) Business Money Market at 4.10% APY, United Federal Credit UnionUnited Federal Credit Union808 E Front St, Buchanan, MI 49107 1444A+5.0 ★Texas Ratio: 3.13%Real return: +1.20%APY minus 2.8% CPI (February 2026) Money Market Special at 4.00% APY, Members First Credit Union Midland, MIMembers First Credit Union Midland, MI600 W Wackerly St, Midland, MI 48640 4702A5.0 ★Texas Ratio: 7.98%Real return: +1.20%APY minus 2.8% CPI (February 2026) Money Market Account at 4.00% APY, and Honor Credit UnionHonor Credit Union8952 US Highway 31, Berrien Springs, MI 49103A+5.0 ★Texas Ratio: 5.50%Real return: +1.20%APY minus 2.8% CPI (February 2026) Surge Money Market at 4.00% APY. Money market rates as of August 31, 2026 according to verified data from MonitorBankRates.
Use the tables below to compare money market rates across Michigan side-by-side. Michigan money market rates currently reach as high as 4.20% APY from ORSA Credit Union at 500 S HARVEY ST, PLYMOUTH, MI 48170 1759. Rates are continually updated — we recommend checking back frequently.
Rates reflect recent market quotes and representative offers available to depositors in Michigan and surrounding area. Last Updated and Verified: August 31, 2026
Compare the Best Money Market Rates Today in Michigan
Fees may reduce earnings.
The special rate of up to 4.00% APY is available only on new Money Market Special accounts opened on or after 8/1/2026 and applies for the first 6 months following account opening. After 6 months, the account will automatically convert to a standard Elevate Money Market account and earn standard Elevate Money Market rates thereafter. A minimum opening balance of $15,000 is required. Members who currently have, or previously had in the last 12 months, any opened money market account at United are not eligible for this offer. Fees may reduce earnings. Rates may change after account is opened.
Dividends are determined based on a tiered rate method. This means that the interest rate paid on the entire balance in your money market account will be determined by the tier in which your current balance resides. Dividends are calculated by the daily balance method and credited on the last day of each month. Rates are variable and may change after the account is opened.
$.01 minimum balance required to earn up to 4.00% APY. Surge Money Market is a blended tiered rate account which pays a different rate on the amount of funds in each tier. Each rate will apply only to the portion of the account balance within each tier and not the entire account balance. A higher daily balance, when moving up the tiers, will result in a lower APY being earned. One account per membership.
Limited time offer. Rates are subject to change without notice. Personal accounts only, no public, business, or brokered funds for this offer. Interest is earned on balances greater than $0.00 and must be opened with money not currently on deposit at Horizon Bank. Fees may reduce the earnings on the account.
Balance: $2,000,000 - $7,499,999
Balance $1,000,000 and above
Preferred rates
Preferred rates
Preferred Rates require $25,000 not currently on deposit with Citizens.
Limited time offer. Rates are subject to change without notice. Personal accounts only, no public, business, or brokered funds for this offer. Interest is earned on balances greater than $0.00 and must be opened with money not currently on deposit at Horizon Bank. Fees may reduce the earnings on the account.
Fees may reduce earnings.
Qualifications Required: minimum new money deposit of $25,000; Promotional rate effective through 12/31/2026 and subject to change. After 12/31/2026 or if you do not have the minimum new money deposit of $25,000 to qualify for the promotional rate, you would be paid the standard rate. The standard rate for the Ultra Money Market is calculated by using the Federal Reserve Bank's Federal Funds Rate posted on the last business day of the prior dividend period, less 75 basis points. The minimum APY is 0.00%, and the maximum APY is 7.23%. Minimum opening deposit for Ultra Money Market is $50,000. New money is defined as funds from another financial institution that were not on deposit with Everwise Credit Union as of July 1, 2026. Balance requirements: For Ultra Money Market there is a minimum daily balance of $50,000 required and you must have at least $100,000 in combined relationships (shares, loans, and investments) under the same member number of the Ultra Money Market on the last day of the prior dividend period to earn the annual percentage yield disclosed for the dividend period.
Qualifications Required; $0.01 minimum deposit required to earn the base dividend of 0.50% APY. An additional bonus dividend of 2.87% APY requires at least 1 cleared credit card transaction per month on a Select Credit Card or Select Rewards Credit Card account AND at least 1 cleared signature-based or PIN-based point of sale (POS) debit transaction per month (PIN-based ATM transactions not eligible) on a Benefits Checking or Connect Checking account - In order to satisfy the relationship bonus dividend requirements, credit card and debit card transactions must be from accounts within the same membership as the Amplify Money Market account and transactions must be posted by 5:00 PM EST on the last business day of the month. Please note that Honor posts transactions based on how they are received from merchants. Accounts meeting both of the qualifying requirements will earn a total dividend of 3.37% APY.
With Huntington Perks Checking**
With Huntington Platinum Perks Checking***
With Private Client Account****
New accounts must be funded with new money. Account fees may reduce the earnings on the account. $4 monthly paper statement fee waived with enrollment in e-Statements.
$1,000 minimum opening balance.
Non-Relationship Rate
New money required to qualify for this rate. Only new funds transferred from external sources to the credit union qualify for this promotion.
Tiered rate account, the dividend rate and annual percentage yield for each balance range will apply to the portion of the balance in each tier. $500 minimum withdrawal. No minimum balance to earn dividends. Platinum Perks members with balances $20,000+ receive a rate bump of 0.50% APY; VIP Perks, 0.75% APY.
VIP Perks +0.75% APY
Rate may change after account is opened. Fees could reduce the earnings on the account. See fee schedule .
Fees may reduce earnings.
Balance: $250,000 - $1,999,999
New accounts must be funded with new money. Account fees may reduce the earnings on the account. $4 monthly paper statement fee waived with enrollment in e-Statements.
Fees could reduce earnings on account. The Annual Percentage Yield (APY) rate may change after account is opened.
$1,000,000.00 +
Tier 5: $1,000,000.00 +
Fees could reduce earnings on account. The Annual Percentage Yield (APY) rate may change after account is opened.
Limited time offer. Rates are subject to change without notice. Personal accounts only, no public, business, or brokered funds for this offer. Interest is earned on balances greater than $0.00 and must be opened with money not currently on deposit at Horizon Bank. Fees may reduce the earnings on the account.
Money Market Plus accounts are only available for new money, or funds that have not been on deposit with 1166 Federal Credit Union in the last 30 days.
New money required to qualify for this rate. Only new funds transferred from external sources to the credit union qualify for this promotion.
Platinum Perks +0.50% APY
Balance Tiers
New accounts must be funded with new money. Account fees may reduce the earnings on the account. $4 monthly paper statement fee waived with enrollment in e-Statements.
Rates based on zip code and with a minimum of $25,000 not currently deposited at Huntington. Get your variable rate after opening a Huntington Relationship Money Market Account when you maintain deposits of $25,000.00 - $2,000,000.99. Balances $2,000,001.00 and above currently earn 0.25% (0.25% APY). Balances below $25,000.00 do not earn interest and may be subject to a $25.00 per month maintenance fee. Fees may reduce earnings. When your balance falls into a specific rate tier, your entire balance will earn the applicable rate in effect for that tier. Initial minimum opening deposit to earn interest on the HRMMA is $25,000.00 and must be "New Money" which is defined as money that is not currently on deposit in any Huntington account (except maturing CDs). Offer is limited to one per household. We also reserve the right to limit acceptance of deposits greater than $2,000,000.00. Not valid with any other offer.
Balance $500,000 to $999,999.99
Fees could reduce earnings on account. The Annual Percentage Yield (APY) rate may change after account is opened.
$500,000.00 -$999,999.99
Tier 4: $500,000.00 -$999,999.99
Fees could reduce earnings on account. The Annual Percentage Yield (APY) rate may change after account is opened.
New accounts must be funded with new money. Account fees may reduce the earnings on the account. $4 monthly paper statement fee waived with enrollment in e-Statements.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Michigan Money Market Rate Trends
Compare local Michigan money market quotes against the statewide average
Daily money market rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Michigan high-yield MMA rates fell 0.186 points over the past 7 days to 3.036% APY.
Michigan standard MMA rates rose 0.302 points over the past 7 days to 0.746% APY.
Michigan Money Market Rate Forecast — Next 12 Months
Money market rates move with Federal Reserve policy. Our model uses the current MI high-yield MMA average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Money market account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current MI high-yield money market average of 3.036% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: 1–2 Federal Reserve rate cuts of 25 basis points each over the next 12 months, based on current CME FedWatch consensus; money market institutions typically pass through 70–90% of rate cuts to deposit rates within 60–90 days. High-yield online money market rates tend to adjust faster than standard branch-based MMA rates, and jumbo-tier rates often adjust first.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Michigan.
Money Market Account Earnings in Michigan
Annual interest earnings at current MI average APYs, based on the high-yield and standard money market averages tracked in our database. Balances reflect the higher minimums typical of money market accounts. Compounding assumed monthly.
| Balance | HY Money Market (3.036% APY) | Monthly Earnings | Standard MMA (0.746% APY) | Monthly Earnings |
|---|---|---|---|---|
| $10,000 | $303.64 / year | $25.30 | $74.55 / year | $6.21 |
| $25,000 | $759.10 / year | $63.26 | $186.38 / year | $15.53 |
| $50,000 | $1,518.20 / year | $126.52 | $372.75 / year | $31.06 |
| $100,000 | $3,036.40 / year | $253.03 | $745.50 / year | $62.13 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, rate tier, and daily balance maintained. Rates are variable and subject to change. Source: Michigan money market rate averages as of September 2, 2026. | ||||
About Our Michigan Money Market Rate Database
MonitorBankRates tracks 49 money market rates from 11 banks and 38 credit unions offering money market deposit accounts to Michigan residents — including community institutions, regional banks, and national online options. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: ORSA Credit Union offers a money market account at 4.20% APY. Use the rate table above to compare all current offers in Michigan.
How to Find the Best Money Market Rates in Michigan
What to compare when shopping for a money market account in Michigan
To find the best money market APYs in Michigan, start with credit unions and online-only banks — Michigan has 38 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate, and pay close attention to balance tiers — many money market accounts only pay their advertised top rate above a minimum balance of $1,000–$25,000, with lower rates (or monthly fees) below that threshold. The current MI high-yield money market average is 3.036% — but top local institutions are offering as high as 4.20%, so shopping around pays off.
Unlike a CD, money market rates are variable — your rate can change at any time with Federal Reserve policy. Also check check-writing and debit card limits: most MMAs allow a set number of withdrawals per month, and exceeding the limit can trigger fees. Review your account periodically to ensure your APY remains competitive.
When a Money Market Account Makes Sense
- Emergency fund with flexibility: You get savings-level yields plus limited check-writing and debit access. Michigan high-yield money market rates currently average 3.036% APY — far above a typical checking account.
- Larger balances ($10,000+): Many MMAs pay tiered rates that rise with your balance, so bigger deposits often earn more than they would in a standard savings account.
- Parking cash between investments: A high-yield money market account at Michigan institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally — 49 institutions in Michigan report money market rates to our database.
- You’re among Michigan’s 18.6% of residents aged 65+ for whom liquid, accessible savings complement fixed-income holdings.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Michigan CD rates
- You don’t need check writing and want a lower minimum → Michigan savings rates
- You need daily transaction access → Michigan checking rates
Michigan Financial Snapshot
Local demographics and economic context for savers — Source: U.S. Census Bureau
18.6% of residents are 65 or older, in line with the national average of 17.3%. At today’s MI high-yield money market average of 3.036%, saving 10% of the local median salary ($4,293/year) would earn an additional $130 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Money Market Accounts vs. Other Michigan Options
How money market deposit accounts compare to other deposit products available at banks and credit unions in Michigan.
| Feature | Money Market | High-Yield Savings | Standard Savings | CD (12-Month) |
|---|---|---|---|---|
| Current MI Avg APY | 3.036% | View Savings Rates | 0.746%(Standard MMA) | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✓ Often yes | ✗ No | ✗ No | ✗ No |
| Debit / ATM Card | ✓ Often yes | Some institutions | ✗ Rarely | ✗ No |
| Typical Min Deposit | $0 – $2,500 | $0 – $100 | $25 – $100 | $500 – $1,000 |
| Rate Risk | Rate may fall with Fed cuts | Rate may fall with Fed cuts | Rate may fall with Fed cuts | None — locked for term |
| Best For | Active savers wanting flexibility + check writing | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Locking in a rate for a defined period |
APY data reflects Michigan averages tracked in our database as of September 2, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Michigan Money Market Account Calculator
See how much a money market account can earn you. Enter your deposit, monthly contribution, and time frame — or click any current Michigan rate on the right to apply it instantly. Interest compounds monthly.
Assumes monthly compounding and a constant APY for the full period. Money market rates are variable and can change at any time, so actual earnings will differ. Estimates are for informational purposes only.
Money Market & Savings Calculators for Michigan
At MI’s top money market rate of 4.20% from ORSA Credit Union, a $10,000 deposit earns $420 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Michigan earner is roughly $10,700. At 3.036% APY in a money market account, saving $890/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. Liquid Deposit AccountMichigan’s high-yield money market average is 3.036% APY — variable, always accessible, and often with check-writing. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Michigan earner makes $42,935/year. Track your income vs. expenses to find your monthly surplus — then put it to work at 3.036% APY.
Retirement PlannerA $25,000 money market balance earning 3.036% APY grows to roughly $45,473 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Michigan money market rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Money Market Rate Data: We aggregate money market deposit account rates for Michigan directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every money market rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Michigan. We feature a comprehensive mix of institutions from neighborhood credit unions and mid-sized regional banks to large national institutions available to savers in MI.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update money market rates daily. Because MMA yields can fluctuate rapidly based on market conditions, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Money Market Accounts in Michigan
What is a Money Market Account (MMA)?
Are Money Market accounts in Michigan safe?
How often do MMA rates change in Michigan?
Can I write checks from a Money Market Account?
How much do I need to deposit to open a money market account in Michigan?
Can I lose money in a Money Market Account?
What is the difference between a Money Market Account and a Money Market Fund?
Do I have to pay taxes on money market account interest?
Are online banks better than local banks in Michigan for money market accounts?
Best Money Market Rates in Michigan
- ORSA Credit Union
Money Market Account — 4.20% APY - Community Choice Credit Union
Business Money Market — 4.10% APY - United Federal Credit Union
Money Market Special — 4.00% APY - Members First Credit Union Midland, MI
Money Market Account — 4.00% APY - Honor Credit Union
Surge Money Market — 4.00% APY
Cities in Michigan
