Why did the Mighty Oak Emergency Fund APY change?

There has been an important update regarding the Annual Percentage Yield (APY) for our Acorns Mighty Oak Emergency Fund. 

On 12/19/24, the APY for the Mighty Oak Emergency Fund changed from 4.29% to 4.05%.

Additionally, the Mighty Oak Card (MOC) Checking account APY changed from 2.72% to 2.57%.

Why did the APY change?

APYs are subject to regular fluctuations. APY changes can happen when the Federal Reserve (the USA's central bank) adjusts national interest rates. When national interest rates decrease, banks offer lower APYs. When national interest rates increase, banks typically follow suit.

Check out this YouTube short for more info. 

Remember — it’s normal for APYs to go up and down over time. We’ll continue to keep you up to date so you understand what’s happening and why.

To learn more about APY, check out Learn in your Acorns app by tapping the links below. 
Understanding APY
What happens when interest rates go up or down?