Short term investment suggestion for my emergency fund?

I would like to keep about $50K somewhere, where I can access it within a week or two, if need arises.

My banks don't offer very good rates on savings, or even money market accounts.

Any suggestions?

If you have an emergency fund, where do you keep it?

I don't need to access those funds quickly -- for that purpose I have money-market savings account linked with my checking with the ability of instant transfer.

John D, if your "fund" is illegal, you shouldn't be talking about it. If it's legal, give more details.
Co-mingling means two people sharing account... why would that be illegal?

If you need to access it that quickly, your best option would be an online high-yield savings account. Search bankrate.com for the best rates. ING and HSBC are federally insured up to $100k.

Just transfer the funds from your account to another account to take advantage of higher rates that are available outside of your commutable location. You can check out bankrate.com to help compare some rates.

Thats what I do with my emergency fund and I currently earn 4.5%. The rate will prob be dropping a tad given the current economic status.

I also keep some in another "fund" where I can receive $20k, the frequency depends on how much I put in and how long I've contributed. Typically, its $20k every few years with advances in return of forfeiting the next payout. This is illegal as you have probably realized by now. EDIT: its only illegal because we are co-mingling funds. It's not some racket. hehe