Maryland Tough Baltimore Strong Money Market Account
We created the Maryland Tough Baltimore Strong Money Market Account and the Maryland Tough Baltimore Strong Commercial Account to support Key Bridge recovery and resilience efforts.
Through these first-of-their-kind accounts, retail and commercial customers have the opportunity to donate 0.05% of their accrued interest through the end of the year to the Maryland Tough Baltimore Strong Key Bridge Fund, created by Baltimore Community Foundation, with CFG Bank matching up to $500,000.
Baltimore Community Foundation established the Maryland Tough Baltimore Strong Key Bridge Fund to provide a secure way for Baltimoreans and those who care for them to contribute to the recovery and resilience of Baltimore as a result of the March 26 Key Bridge tragedy. This fund supports regional efforts to heal, respond and memorialize in coordination with adjacent efforts with strategic partners.
5.25%
APY
Maryland Tough Baltimore Strong Money Market Account
4.37%
APY
Maryland Tough Baltimore Strong Commercial Account
| Account | Minimum Deposit to Open | Minimum Daily Balance to Obtain Annual Percentage Yield (APY) | Interest Rate | APY | Details |
|---|---|---|---|---|---|
| Maryland Tough Baltimore Strong Money Market Account | $1,000 | $1,000 | 5.12% | 5.25% | May add deposits at anytime, no check writing privileges* |
| Maryland Tough Baltimore Strong Commercial Account | $1,000 | $1,000 | 4.28% | 4.37% | May add deposits at anytime, check writing allowed, and ATM/Debit card issued upon request |
Each month, Maryland Tough Baltimore Strong Money Market Account and Maryland Tough Baltimore Strong Commercial Account holders will see a monthly debit for 0.05% of the accrued interest following their monthly interest credit. CFG will match total account donations — up to $500,000 — and contribute monthly to Baltimore Community Foundation’s Maryland Tough Baltimore Strong Key Bridge Fund. Account holders will receive donation receipts from Baltimore Community Foundation for funds contributed. The Maryland Tough Baltimore Strong Money Market Account will be active through December 31, 2024.
By opening the Maryland Tough, Baltimore Strong account, you agree that through your December 2024 statement cycle, the dollar equivalent of 5 basis points (.05%) of your interest rate will be donated to Maryland Tough Baltimore Strong Key Bridge Fund, managed by Baltimore Community Foundation[1]. Your full accrued interest will be credited to your account monthly, and the .05% donation will be debited from your account monthly. Beginning January 1, 2025, the .05% donation debit will be discontinued. If the Fund is closed prior to December 31, 2024, any subsequent donations will be discontinued. Neither you nor the Bank can opt to change the recipient of the donation at any time.
[1] The Baltimore Community Foundation is a 501(c)(3), unaffiliated from CFG Bank and CFG Bank makes no representations or warranties as to how the Maryland Tough Baltimore Strong Key Bridge Fund will be used.
CFG Bank reserves the right to decline a request for a deposit account or for a deposit. Additional disclosures by account type below.
Annual Percentage Yield (APY)
Annual Percentage Yield (APY) assumes interest remains on deposit. Withdrawal of interest will reduce earnings. Fees could reduce the earnings on the account.
Retail Money Market Accounts
Minimum deposit to open this account is $1,000. You must maintain a minimum balance of $1,000 in the account daily to avoid a $10 service fee.
Minimum balance to obtain the posted APY is $1,000. The rates for the High Yield Money Market are variable and subject to change.
Commercial Money Market Accounts
Minimum deposit to open this account is $1,000. You must maintain a minimum balance of $1,000 in the account daily to avoid a $10 service fee.
Minimum balance to obtain the posted APY is $1,000. The rates for the Commercial Money Market are variable and subject to change.
*Online High Yield Money Market accounts (No Check Writing Privileges)
Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period.
For the first 5 days after initial funding, all deposits are placed on hold and unavailable for withdrawal.
No check writing or debit card privileges are allowed with this account.
Account will remain in credits only status for 5 days.
Maximum initial funding amounts:
Plaid Funding – $500,000
ACH Funding- $5,000.00
Maryland Tough Baltimore Strong Key Bridge Fund
One hundred percent of all donated funds will go towards immediate and ongoing needs for affected families, first responders and their families, port workers and their families, small businesses, and to memorialize the tragedy.
Fill out the form below to get started or email our team at cashmanagement@cfg.bank.