Changes to Money-Market Mutual Funds

Yesterday, personal finance expert, Terry Savage, reported here that “Very quietly, and without any of the fanfare with which it was announced a year ago, the government ended its safety guarantee for money-market mutual funds.” She suggests, “If you have cash in a money-market mutual fund, you should go to the fund company Web site to see what kind of securities are held by your fund.” She also provided a list of the safest places to put your money.

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5 thoughts on “Changes to Money-Market Mutual Funds

  1. Good post! My credit union offers additional insurance outside of federal limits of $250k. We actually match it an additional $250k with what is called ESI (Excess Share Insurance). We purchase it as an organization privately for the entire membership at no added cost borne to the individual depositor. As such, we are able to provide more aggressive structures to folks searching for competitive yields in this low interest rate marketplace. My credit union’s site is Credit Union of New Jersey

  2. I agree, but no organization is perfect as you know. The key is to gain as much knowledge and education as possible and go from there.

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