Money Market Account

The Pax World Money Market Account (PWMMA) is intended to provide Pax World investors with a convenient and liquid option for their cash deposits. Assets held in the PWMMA are deposited in ShoreBank, the nation’s first and leading community development and environmental banking institution. The PWMMA is not a mutual fund.

Community Development
Assets deposited in the PWMMA at ShoreBank help revitalize underserved communities through community development and conservation loans that:

  • Spur neighborhood redevelopment projects
  • Assist first-time home buyers
  • Finance women- and minority owned businesses
  • Promote conservation, alternative energy and “green collar” jobs
  • Help non-profit and faith-based organizations provide much needed services

To achieve its community development purposes, ShoreBank makes loans in neglected, underserved low to moderate-income urban neighborhoods in Chicago, Cleveland, and Detroit. Since its inception in 1973, Shore Bank has invested more than $3 billion to finance the purchase and renovation of more than 52,000 units of affordable housing and the creation of 11,000 new jobs for local residents.

Liquidity
Free Check Writing – PWMMA holders may write unlimited checks ($250 minimum per check) against the account. (Check writing not available for IRA accounts.)

Safety
FDIC Insured – assets in the PWMMA are FDIC insured for up to $200,000 per depositor.1

Convenience
It’s easy to move assets between the PWMMA and the Pax World Funds online, by telephone or by written request.

Account Types
The PWMMA is available for:

  • Individual and Joint Accounts
  • Custodial (UTMA/UGMA) Accounts
  • Trust Accounts
  • Non-profit Organizations
  • Traditional and Roth IRAs
  • SEP-IRAs and SIMPLE IRAs
  • Coverdell ESAs

(The PWMMA is not available for 403(b)(7) accounts, corporations or other entities.)

Please note that you will be able to access your Pax World Money Market Account only through Pax World. Pax World Management Corp. will act as your agent for the purpose of making deposits to and withdrawals from your PWMMA account and will maintain the records of your account. You will not be able to access your account or obtain balances by contacting ShoreBank directly. The PWMMA is subject to certain FDIC insurance limits of $200,000 per depositor. However, for purposes of determining the FDIC coverage, any money that you have on deposit within the ShoreBank family will be combined with the amount on deposit in your PWMMA.

1An investment in the Pax World Funds is not a deposit in a bank account and is not insured or guaranteed by the FDIC or any other government agency. The Pax World Money Market Account is FDIC Insured for up to $200,000 because assets in the account are allocated between separately chartered banks within the ShoreBank family. Please note, however, that for purposes of determining the FDIC coverage, any money that you have on deposit within the ShoreBank family will be combined with the
amount on deposit in your PWMMA.

2Current rate and annual percentage yield are set by ShoreBank monthly and are subject to change at any time without notice. Please visit www.paxworld.com for the current yield.

The Pax World Funds are not affiliated with any bank and are not insured by the FDIC. Pax World Management Corp. and Shore Bank are not affiliated. The PWMMA is not distributed by ALPS Distributors, Inc.