Ford Money-Market Account.(Ford Motor Credit Co.)(Brief Article)
Kiplinger's Retirement Report, April, 2003
FORD MONEY-MARKET ACCOUNT
Ford's MMA is paying a higher yield than the money-market funds listed in the Investing for Income section. What's up?
The name is a bit misleading. The Ford account, which is offered through Ford Motor Credit (the carmaker's financing unit), is neither a mutual fund nor a bank money-market deposit account.
Typically, banks offer money-market deposit accounts (MMDAs) with rates that change as interest rates fluctuate. Because they are deposit accounts, MMDAs are usually insured by the Federal Deposit Insurance Corporation (FDIC).
Money-market mutual funds aren't insured by the FDIC, but invest in a diversified portfolio of ultra-short-term debt instruments issued by the U.S. government, corporations and...
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