Money Market Accounts: The Best of Checking and Savings

Eligibility for membership:

• Any person who lives, works, or attends school in the State of Washington
• Any person who lives or works in the following six Oregon counties: Clackamas, Columbia, Hood River, Multnomah, Washington or Yamhill
• Any immediate family member of an existing iQ member. This includes:

• • Spouse, parents, grandparents, children, grandchildren, brothers, sisters, aunts, and uncles; also including “half” and “step” siblings, parents, and grandparents; and
  • Domestic partner of a member
• Members of the Pacific Foundation for Blind Children (PFBC) who live or work within the state of Oregon
• Certified or Classified school employee within southwest Washington
• Businesses (Sole Prop, LLC, Partnership, Corp) that are legal entities within the State of Washington
• Businesses (Sole Prop, LLC, Partnership, Corp) located within the following six Oregon counties: Clackamas, Columbia, Hood River, Multnomah, Washington or Yamhill

Minimum deposit to open an account:

• General Membership (18 and older)- $5.00
• Minor Accounts (17 and younger)- $5.00
• Non-Profit Organizational Accounts- $5.00
• Business Accounts- $5.00

Other Requirements:

• Government-issued ID with photo with current address: Driver’s license, State ID, U.S. Passport, U.S. Armed Forces ID card
• Your Social Security Number (SSN) or Tax Identification Number (TIN)
• Current rental agreement, utility bill or mortgage statement for address verification

Association, Club, & Organization Accounts:

• Meeting minutes outlining the title of the Authorized Signers
• Valid ID for all signers
• EIN is required

There are limits imposed by Federal Regulation D on the number of transfers you can make from your Savings or Money Market Account. (These are remote or automated transfers without your physical presence at a branch.) The types of transfers subject to these limitations include:

• Overdraft transfers made automatically to cover insufficient funds
• Transfers made by Member Service Representatives on your behalf that are requested by phone or secure email
• Automated, scheduled, preauthorized, or recurring transfers
• Transfers made through online or mobile banking
• Transfers made through telephone banking

Six transfers are allowed per savings account per calendar month, either to another iQ account or to a third party.