Add Momentum! To Your Money.
Our automatic MoneyLink!Sweep feature will link your SharePlus checking account to a Money Market Plus! Together it's called Momentum!Reserve and it's FREE.
Just decide how much money you want to keep in your checking account to cover your day-to-day expenses, then set that balance as the MoneyLink!Sweep "trigger point". Overnight, any available, extra money above that balance will be automatically transferred into the high-yielding Money Market Plus!
How Momentum!Reserve works:
- First, open a SharePlus checking account and Money Market Plus! account if you do not already have them.
- Determine how much money you want to keep in your checking account to meet your daily needs. A SharePlus banker can help you review previous bank statements to choose an appropriate balance.
- This dollar amount is the MoneyLink!Sweep "trigger point" (minimum trigger point level in
checking account is $5,000).
- After the MoneyLink!Sweep trigger point is set up, any available funds ABOVE that balance will be automatically "swept" into your Money Market Plus! account. Just set the trigger point and forget it. MoneyLink!Sweep does it automatically overnight.
- When you sign up for Momentum!Reserve, your Money Market Plus! account will provide Overdraft Protection for your linked checking account, with up to six overdraft transfers allowed per month by law.
- You can adjust your trigger point at any time to meet changes in your daily financial obligations. Just give the bank your instructions in writing (or fax instructions to 972-931-6401) and we'll adjust the trigger point balance.
"Real-life" Momentum!Reserve example
Click here to see how Momentum!Reserve and MoneyLink!Sweep can work for you.
What about Overdraft Protection?
If you accidentally write a check without sufficient funds in your checking account, the necessary funds will be automatically transferred back from the Money Market Plus! account into the checking account to cover the overdraft, up to six times per month at no charge. By law, there can be a total of six withdrawals from a money market account per month, INCLUDING overdraft transfers to the linked checking account.
We recommend that you be conservative when you determine where to set your MoneyLink!Sweep trigger point to always have a adequate cushion of extra money in your checking account in case of unexpected or forgotten expenses.
Money Market Plus!*:
MoneyLink!Sweep will automatically transfer extra money from a SharePlus checking account into a Money Market Plus!, where it will earn higher rates. Plus, the funds are available when you need it. Perfect for building six months of cash reserves as recommended by financial planners.
- Earn higher interest rates on higher balance tiers. The more you save the higher the rate.
- Complete liquidity with 24/7 account access.
- Free Online Banking and BillPay.
- Free ATM or Debit card.
- Interest compounded daily and credited monthly.
- FDIC insured to the maximum allowed by law.
- The option to make deposits through MoneyLink!Sweep, payroll deduction or direct deposit.
Click here for current Deposit rates for Money Market Plus!, checking, savings and CD's.
Savings Calculator
Click here to use a handy savings calculator.
Emergency Fund Calculator
Have you set aside three to six months' living expenses? Click here to access an Emergency Fund calculator see how much you need to set aside.
You may have a DEPOSIT relationship (such as Checking, Savings, CD, Money Market Plus!, IRA, etc.) with SharePlus Federal Bank if ...
- if you live, work, or have your place of business in a county or bordering county where a bank branch is located
- you are an employee of a Sponsor Company
- you have a Secured Loan with SharePlus Federal Bank
- you own or work for a YUM! Brands franchise
Click here for specific information to confirm that you are eligible to open a DEPOSIT account. Note: Anyone may have a LOAN or line of credit with the bank regardless of where you live or work.
* Money Market Plus is a federally regulated, limited transaction account: transfers and withdrawals by preauthorized, automatic telephone,wire or computer transfer are limited to six per statement cycle with no more than three by check, draft, or debit card. A REG D Excess Transaction Fee of $30 will be charged for each pre-authorized withdrawal in excess of six per statement cycle. A REG D Excess Transaction Fee of $30 will be charged for each check, draft, or debit card withdrawal in excess of three per statement cycle. Unlimited withdrawals in person from your branch. Customers will be allowed three months of REG D Excess Transactions within a twelve month period. Further violation will result in the closing of the account.
Insurance - All accounts are insured to $100,000 by the Federal Deposit Insurance Corporation, an agency of the United States Government. To learn more about this insurance click on the FDIC logo below.
