External motivation, such as a promise of future monetary reward for remembering an event, can affect which events are remembered. Reward-based memory modulation is thought to result from encoding and post-encoding interactions between dopaminergic midbrain, signaling reward, and hippocampus and parahippocampal cortex, supporting episodic memory. We asked whether hippocampal and parahippocampal interactions with other reward-related regions are related to reward modulation of memory and whether such relationships are stable over time. Individuals' memory sensitivity to reward was measured using a monetary incentive encoding task in which a cue indicated potential monetary reward (penny, dime, or dollar) for remembering an upcoming object pair. Functional connectivity between memory and reward regions was measured before, during, and following the task. Reward-related regions of interest were generated using a meta-analysis of existing studies on reward and included ventral striatum, medial and orbital prefrontal cortices and anterior cingulate cortex, in addition to midbrain. The results showed that connectivity between memory and reward regions tracked individual differences in reward modulation of memory, irrespective of when connectivity was measured. Connectivity patterns of anterior cingulate, orbitofrontal cortex, and ventral striatum covaried together and tracked behavior most strongly. These findings implicate a broader set of reward regions in reward modulation of memory than considered previously and provide new evidence that stable connectivity patterns between memory and reward centers relate to individual differences in how reward impacts memory.