SAFECO MONEY MARKET TRUSTS
24F-2NT, 1996-05-29
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                             UNITED STATES             ------------------------
                   SECURITIES AND EXCHANGE COMMISSION        OMB APPROVAL
                         Washington, D.C. 20549        ------------------------
                                                       OMB Number:    3235-0456
                               FORM 24F-2              Expires:  April 30, 1998
                    ANNUAL NOTICE OF SECURITIES SOLD   Estimated average burden
                         PURSUANT TO RULE 24f-2        hours per response.....0
                                                       ------------------------
 READ INSTRUCTIONS AT END OF FORM BEFORE PREPARING FORM. PLEASE PRINT OR TYPE.

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 1. Name and address of issuer:  SAFECO MONEY MARKET TRUST
                                 SAFECO PLAZA
                                 SEATTLE, WA 98185

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 2. Name of each series or class of funds for which this notice is filed:

    SAFECO MONEY MARKET FUND
    SAFECO TAX-FREE MONEY MARKET FUND

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 3. Investment Company Act File Number:  811-3347

    Securities Act File Number:          2-25272

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 4. Last day of fiscal year for which this notice is filed:

    3/31/96

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 5. Check box if this notice is being filed more than 180 days after the close
    of the issuer's fiscal year for purposes of reporting securities sold after
    the close of the fiscal year but before termination of the Issuer's 24f-2
    declaration: /  /

    N/A

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 6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
    applicable (see Instruction A.6):

    N/A

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 7. Number and amount of securities of the same class or series which had been
    registered under the Securities Act of 1933 other than pursuant to rule
    24f-2 in a prior fiscal year, but which remained unsold at the beginning
    of the fiscal year:

    0

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 8. Number and amount of securities registered during the fiscal year other
    than pursuant to rule 24f-2:

    Number: 39,848,998
    Amount: $39,848,998

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 9. Number and aggregate sale price of securities sold during the fiscal year:

    Number:      1,161,195,098
    Sales Price: 1,161,195,098
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SEC 2393 (9/95)

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10. Number and aggregate sale price of securities sold during the fiscal year
    in reliance upon registration pursuant to rule 24f-2:

        Number: 1,161,195,098
        Sales Price: 1,161,195,098
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11. Number and aggregate sale price of securities issued during the fiscal year
    in connection with dividend reinvestment plans, if applicable (see 
    instruction B.7):

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12. Calculation of registration fee:

    (i)   Aggregate sale price of securities sold during         $1,161,195,098
          fiscal year in reliance on rule 24f-2                  --------------
          (from Item 10):

    (ii)  Aggregate price of shares issued in connection         +
          with dividend reinvestment plans (from Item 11,        --------------
          if applicable):
   
    (iii) Aggregate price of shares redeemed or repurchased      - 1,161,195,098
          during the fiscal year (if applicable):                --------------

    (iv)  Aggregate price of shares redeemed or repurchased      -      0
          and previously applied as a reduction to filing        --------------
          fees pursuant to rule 24e-2 (if applicable):          

    (v)   Net aggregate price of securities sold and issued
          during the fiscal year in reliance on rule 24f-2              0
          [line (i), plus line (ii), less line (iii), plus       --------------
          line (iv)] (if applicable):

    (vi)  Multiplier prescribed by Section 6(b) of the           x 
          Securities Act of 1933 or other applicable law         --------------
          or regulation (see Instruction C.6):

    (vii) Fee due [line (i) or line (v) multiplied by                   0
          line (vi)]:                                            --------------

INSTRUCTION: Issuers should complete lines (ii), (iii), (iv), and (v) only if
             the form is being filed within 60 days after the close of the
             issuer's fiscal year. See Instruction C.3.

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13. Check box if fees are being remitted to the Commission's lockbox depository
    as described in section 3a of the Commission's Rules of Informal and Other
    Procedures (17 CFR 202.3a). /  /

    Date of mailing or wire transfer of filing fees to the Commission's lockbox
    depository:

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                                   SIGNATURES

    This report has been signed below by the following persons on behalf of the
    issuer and in the capacities and on the dates indicated.


    By (Signature and Title)*
                           -----------------------------------------------------

                                 Neal A. Fuller, Vice President & Controller
                           -----------------------------------------------------

Date 
    ---------------------

  *Please print the name and title of the signing officer below the signature



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