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Credit union savings account interest rates


credit union savings account interest rates

Earn interest on savings accounts at Kitsap Credit Union. Learn about Regular Share Savings, Holiday Savings, and Money Market accounts and view rates. Choose from a full range of savings and deposit accounts that provide the flexibility you want with competitive interest rates. Open a Personal Savings Account with Delta Community Credit Union with one of the best savings rates around. Start saving with only a $5 deposit!
credit union savings account interest rates

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Bank vs Credit Union. 🏧 What's The Difference?

Credit union savings account interest rates -

A credit union is a not-for-profit financial institution that’s owned by its members. Credit unions offer many of the same financial services as banks do, such as deposit accounts, credit cards, loans and more. Sometimes they’re even able to provide their members with better perks, interest rates and customer service than banks.

Our ValuePenguin experts identified the best credit unions — both overall and for specific service categories. ValuePenguin is a website that’s been empowering consumers to make informed financial decisions since 2013, and our work has been featured by the New York Times, the Washington Post, Bloomberg CNN Money.

Best credit unions in 2022

Best overall credit union — Alliant Credit Union

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Alliant was originally founded in 1935 by a group of United Airlines employees. Alliant now has over 600,000 members spread throughout the U.S.

We chose Alliant as the best overall credit union because of the strength of their banking services across the board — plus, they’re also the only credit union on this list that tops multiple "best of" categories (best for monthly fees and best for credit cards).

Alliant offers a wide variety of banking services. They have multiple types of checking and savings accounts as well as certificates of deposit (CDs), offer credit cards, home and auto loans and personal loans, provide retirement investment accounts and trusts and also have home, life and auto insurance services for their members.

ValuePenguin’s methodology for choosing the best overall credit union included metrics related to account variety, accessibility, interest rates and fees. Alliant rated highly in all of those categories — especially those related to interest rates and fees — and also boasts accreditation and an A+ rating from the Better Business Bureau (BBB).

  • How to join: Alliant Credit Union extends membership eligibility to people who live or work in specific communities near Chicago, in addition to current and retired employees of businesses and organizations that partner with Alliant. Family members of current Alliant members can join too. Otherwise, you can gain eligibility by becoming a member of Foster Care to Success — and Alliant will pay the small membership fee on your behalf.
  • Account options: Alliant offers a broad suite of financial services to their members.
  • Branch locations and ATM access: Alliant has no branches, but they provide access to over 80,000 ATMs and offer some rebates for out-of-network ATMs as well.

Best for high checking account APY — NASA Federal Credit Union

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NASA Federal Credit Union was founded by seven members of the scientific community in 1949 and has since grown to over 200,000 members across the U.S.

The NASA FCU Premier Preferred Checking account earns a high APY of 0.35% on all balances — and there’s no upper limit on earning that interest rate. While there are no minimum balance requirements or activity fees, there is an account maintenance fee of $9 per month. That fee can be waived with Platinum Membership rewards through NASA FCU; if you have Gold, Silver or Bronze rewards, you can waive that fee with a daily average balance of at least $2,500. If you’re looking for a checking account that offers a solid interest rate on a high balance, that fee can be easily waived.

  • How to join: You can join NASA FCU if you’re a NASA employee or retiree, if you’re a relative of a NASA FCU member or an employee or member of one of the 900 companies or associations that partner with the credit union. If you don’t qualify for membership through any of those methods, NASA FCU will provide a complimentary membership to the National Space Society, which entitles you to credit union membership.
  • Account options: NASA FCU offers three types of checking accounts to their customers, but the Premier Preferred Checking account is the only one that earns interest. All the checking account types offer free bill pay and checks to members.
  • Branch locations and ATM access: NASA FCU has 12 branches in the Washington D.C. area and Maryland. They’re also part of the CO-OP agreement, which provides broad nationwide ATM access to members of various credit unions.

Best for high checking balances — PenFed Credit Union

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PenFed Credit Union was founded in 1935 and provides banking services to about 2 million members in all 50 states, D.C. and in U.S. territories.

The PenFed Access America Checking account provides better interest rates for higher balances: a daily balance of under $20,000 earns 0.15% APY, but a balance of at least $20,000 but less than $50,000 earns 0.35% APY — a solid checking account rate given the current interest rate environment. There is a $10 monthly fee that can be waived with a minimum daily balance of at least $500 or a monthly direct deposit of $500 or more.

  • How to join: It’s easy to become a member at PenFed: you just need to decide whether you’d like to open a membership account, including a Regular Share account or a Premium Online Savings Account. You need to deposit a minimum of $5 into one of those accounts to become a member.
  • Account options: The Access America Checking account is the only checking account offered by PenFed, but it has some perks, including early access to payroll direct deposits and 2% cash back with a PenFed Power Cash Rewards Visa Signature card.
  • Branch locations and ATM access: PenFed has some physical branches located in the Washington D.C. area, and the credit union offers access to over 85,000 fee-free ATMs as part of its network.

Best for high savings account APY — Workers Credit Union

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Workers Credit Union was founded over 100 years ago to serve the Finnish community in central Massachusetts, and has since merged with several other credit unions and grown to more than 100,000 members.

The Workers Credit Union SaveUp Savings account was chosen as the best for highest savings account APY, although you’ll need to deposit $50 or more each month to earn the highest rate. If you make that base deposit every month, you can earn 3.61% APY on balances up to $999.99; for higher balances, the base APY works on a tiered system similar to income tax brackets, where the balance for a specific bracket earns an APY at the base rate.

  • How to join: In order to become a Workers Credit Union member, you must donate to the United Way of North Central MA or join the Financial Fitness Association — either way, WCU will pay the cost. Otherwise, your eligibility is determined by whether you live or work in Lowell, Mass. or Worcester, Mass., if you have a family member as a current Workers Credit Union member or if you work from a limited list of partner companies.
  • Account options: The WCU SaveUp Savings account can be opened with as little as $5 and has no monthly fees. The interest rate earned when the monthly deposit requirement isn’t met is marginally lower than the top interest rate as well.
  • Branch locations and ATM access: Workers Credit Union has 17 branches in Massachusetts and offers nationwide ATM access to its members as part of an ATM sharing program.

Best for high savings balances — Workers Credit Union

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Workers Credit Union’s APYs on its SaveUp Savings account begin increasing as you start to save above a certain amount and combine to form a blended APY. For example, you'll earn 0.6% APY on a balance of $25,000 if you complete the deposit requirement of $50 per month, 0.75% APY on a balance of $50,000 if the requirement is completed, 0.85% APY on a balance of $100,000 and so on. WCU pays great rates no matter what that balance may be.

  • How to join: WCU’s membership eligibility requirements are listed above.
  • Account options: Information on WCU’s SaveUp Savings account is listed above.
  • Branch locations and ATM access: WCU’s branch locations and ATM access are listed above.

Best for beginning savers — Blue Federal Credit Union

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Blue Federal Credit Union was originally formed by civilian personnel looking for banking services at the F.E. Warren Air Force base in Cheyenne, Wyo. Since their start in 1951, Blue has grown to serve over 100,000 members around the world.

The Blue Accelerated Savings account is designed for beginning savers and helps you build interest quickly, which is why it was chosen as the best credit union for beginning savers. You can earn a blended APY of 5% on balances up to $1,000; at higher balances, you earn a lower APY. If you’re opening a new savings account with a large balance, the Accelerated Savings account may not be best for you — but if you’re looking to build a little emergency fund or nest egg, it’s a great place to start.

  • How to join: Blue Federal Credit Union allows people to join if they donate to the Blue Foundation, an affiliated nonprofit; if you open an account and deposit $10, they’ll use $5 to support the Blue Foundation. There are also some affiliated employers in Wyoming and Colorado, as well as a connection with the F.E. Warren Air Force Base. You can join Blue through a family member as well.
  • Account options: There are a variety of savings account options available from Blue Federal Credit Union, including the Sky High Savings account, which has no minimum balance or maximum threshold to earn the advertised APY. Blue offers IRA accounts as well.
  • Branch locations and ATM access: Blue Federal Credit Union has 11 locations in Colorado and eight locations in Wyoming, where they’re headquartered. Blue is a member of CO-OP, which offers over 30,000 ATMs and 5,000 shared branches to participating credit union members.

Best for monthly fees — Alliant Credit Union

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Alliant was chosen for best for monthly fees because they don’t require any monthly maintenance fees for their High-Rate Online Savings account or High-Rate Online Checking account if you opt for eStatements. Their checking account doesn’t have any minimum balance requirements either, and the fees for various types of services are generally lower than most competitors.

  • How to join: Alliant’s membership eligibility requirements are listed above.
  • Account options: Including the High-Rate Online Savings and Checking accounts, Alliant offers a variety of deposit accounts, including those designed for children who are learning about banking and financial services.
  • Branch locations and ATM access: Alliant’s branch locations and ATM access are listed above.

Best for military members — Navy Federal Credit Union

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Navy Federal Credit Union was founded by seven Navy Department employees back in 1933 and has since grown into one of the largest credit unions in the world with over 10 million members.

Navy FCU was chosen as the best credit union for military members because of its military-focused mission and because it offers solid interest rates on deposit accounts, a wide variety of account types to fit its members’ needs and fees that are easily waived by most members. They also have nationwide branch access — a rarity for credit unions — and the size of the organization enables Navy FCU to offer strong customer service to its members.

  • How to join: Navy FCU’s membership eligibility extends to other branches of the armed forces: You can join if you’re an active duty servicemember, retired or a veteran of the Army, Marines, Navy, Air Force, Coast Guard or Space Force — or if your family member is. Civilian employees of the Department of Defense are also eligible for membership with Navy FCU. There are no alternative paths to membership.
  • Account options: Members can open a variety of deposit accounts with Navy FCU, including savings and checking accounts, CDs and retirement accounts. They also offer loans and credit cards to members.
  • Branch locations and ATM access: Navy Federal Credit Union has over 340 branches worldwide. They have their own ATMs and also are a part of the CO-OP network.

Best for credit cards — Alliant Credit Union

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Alliant offers an introductory APR rate of 0% to their members for the first year after account opening, but the standard variable rates afterwards (which range from 10.24% to 22.24%) are lower than many credit cards offered by traditional banks. Their cards also offer cash back and rewards points for their members, and there are no annual fees for any of their three cards.

Check out ValuePenguin’s list of the best credit union credit cards.

  • How to join: Alliant’s membership eligibility requirements are listed above.
  • Account options: There are three credit cards offered by Alliant: the Visa Platinum Rewards card, the Visa Platinum card and the Alliant Cashback Visa® Signature Credit Card — each offers different types of bonuses and different APR rates.
  • Branch locations and ATM access: Alliant’s branch locations and ATM access are listed above.

Our methodology for picking the best credit unions

ValuePenguin reviewed dozens of NCUA-insured credit unions that offer membership nationwide. Using information from DepositAccounts.com’s database, we compared these credit unions across several criteria:

  • Accounts: Credit unions that were considered have a wide variety of available account types, including savings accounts, CDs and checking accounts. Credit unions with a limited selection of financial products were not considered.
  • Accessibility: In order to qualify for our Best Credit Unions list, credit unions must be available nationwide — and they must have membership requirements that are easily fulfilled by most people. Only the "best for military members" selection is exempt from that requirement, as long as military members can join that credit union.
  • Interest rates: The credit unions included on our list have the most competitive checking and savings account APYs.
  • Fees: Credit unions with onerous account maintenance fees were excluded from consideration — only credit unions with minimal or easily waived fees were eligible for this list.

Credit unions listed as the best for a specific category must meet the requirements above in order to qualify for consideration. In order to determine the best overall credit union, we required that the credit union must have an above-average APY for savings accounts and CDs, no conditions to meet the advertised APY, no monthly fees, a mobile app and online banking, 24/7 customer service and options for checking and money market accounts. Customer reviews were also considered while determining the best overall.

What is a credit union?

Credit unions are financial institutions that are owned by their members. They’re not operated as for-profit enterprises and may have specific geographic footprints — though many credit unions now offer membership requirements that effectively make them available nationwide. Those membership requirements are a key feature of credit unions: While membership was once limited to specific communities for many credit unions, they’re now often accessible with a donation to an affiliated nonprofit. A few credit unions still have stricter membership requirements.

Credit unions vs. banks

The key difference between credit unions and banks is that banks generate profits for owners and shareholders, while credit unions are nonprofits and owned by their members. Banks are often able to offer a stronger suite of services and better online banking services, but the absence of the profit motive enables credit unions to broadly offer lower account fees and better interest rates than banks.

One specific disadvantage for credit unions — their limited geographic footprint — can pose some difficulties for members. Many credit unions have a nationwide ATM sharing agreement, but in-person services at a branch may be restricted to a small area.

What are credit union eligibility requirements?

Credit unions have a field of membership, which is the legal definition of who is eligible to join. Those fields of membership are typically organized around a common bond, and there are two types of common bonds that differentiate a group of people from the general public — occupational and associational.

Occupational bonds are defined by employment by the same companies or industries, while associational bonds are defined by membership in the same organization. Credit unions can also be organized as community credit unions who have a field of membership that consists of people who live, work, worship or attend school in a specific geographic area.

Generally credit unions that seek to expand their membership base make the associational bond widely available to most people by choosing partner organizations that have low costs to entry — and some credit unions even pay the membership fees on behalf of prospective members. While there still are some credit unions that have stricter eligibility requirements, most credit unions offer that path to membership.

Advantages of credit unions

Credit unions tend to have certain advantages over banks, including better interest rates and lower account fees. Unlike banks, credit unions are exempt from paying corporate income taxes on earnings because they’re nonprofit organizations. They also don’t have to provide returns to an ownership group. Due to those dynamics, credit unions can operate on narrower margins than most banks, which gives them an advantage in terms of providing better rates and lower fees to their members.

Disadvantages of credit unions

Banks are generally bigger businesses that offer more to their customers in terms of available accounts, online platforms and customer support services. Credit unions are often based on a geographic area, so you may not be able to visit a physical branch if you’re a member who lives far from where the credit union is located.

How to find the best local credit unions

This list of the best credit unions consists of institutions that are broadly accessible and offer paths to membership nationwide, but you may find credit unions that have better options in your own backyard. Local credit unions may provide better rates, lower fees and more personalized customer service. A Google search like "local credit unions" may help you find quality credit unions in your area.

Источник: https://www.valuepenguin.com/banking/best-credit-unions

Bankrate's guide to choosing the right savings rate

Online banks tend to offer higher rates than brick-and-mortar banks. They are able to do this because they usually have fewer overhead costs. Online banks also need a way to attract your money, so they tend to offer higher yields than banks with branches.

Banking with an online bank that’s a member of the FDIC, can be a great way to earn a higher rate and ensure your money stays protected. Just make sure you’re within the FDIC’s limits and guidelines.

Guide to choosing the best savings account table of contents:

Bankrate's experience on financial advice and reporting

Bankrate has more than four decades of experience in financial publishing, so you know you’re getting information you can trust. Bankrate was born in 1976 as “Bank Rate Monitor,” a print publisher for the banking industry, and has been online since 1996. Hundreds of top publications rely on Bankrate. Outlets such as The Wall Street Journal, USA Today, The New York Times, CNBC and Bloomberg depend on Bankrate as the trusted source of financial rates and information.

Best online savings accounts and rates of November 2021

Here are Bankrate's selections for the best widely available savings account rates from top online banks:

*Minimum balance of $25,000 or a monthly deposit of $100 required for APY.

Note: The annual percentage yields (APYs) shown are as of Nov. 18, 2021. Bankrate's editorial team updates this information regularly, typically biweekly. APYs may have changed since they were last updated and Bankrate's editorial team may occasionally update these APYs after that update. The APYs for some products may vary by region.

1. Best Overall Rate: Comenity Direct - 0.55% APY, $100 minimum to open account (no ATM access)

Savings interest rates from Comenity

Overview: Comenity Direct was created in 2018 and launched its High-Yield Savings Account in April 2019. Comenity Direct is a brand of Comenity Capital Bank. Comenity Bank is best known for its co-branded, private label and business credit card programs. Comenity Bank and Comenity Capital Bank partner with more than 160 retailers worldwide on those credit cards.

Perks: Comenity Direct has one of the highest APYs available. Comenity Direct also has customer service representatives available on the phone Monday through Friday from 7 a.m. to 11 p.m. Central. On weekends and most holidays, the phone hours are 9 a.m. to 5 p.m. Central. Comenity Direct also has the Comenity Direct mobile app, which allows you to make deposits and withdrawals, contact customer service and check your balance.

What to watch for: The account doesn’t offer an ATM card or a debit card for ATM access. But you are able to initiate free ACH transfers.

2. High Rate: Vio Bank - 0.51% APY, $100 minimum balance to open (no ATM access)

Best savings rate from Vio Bank

Overview: Vio Bank, established in 2018, is the national online division of MidFirst Bank. MidFirst Bank has been an FDIC-insured bank since 1934 and was established in 1911, according to the FDIC. Vio Bank offers both a High Yield Online Savings account and CDs.

Perks: Vio Bank’s High Yield Online Savings account has one of the top yields around, and all balances receive this APY. It also has a low minimum requirement of $100 to open the account. The account has no monthly fee. There is no charge for incoming domestic or international wire transfers. There also aren't any fees for outgoing or incoming external transfers. But the cost of sending a domestic wire transfer is $30.

What to watch for: You’ll be charged $5 each month for opting to receive paper statements for your account. After you make six withdrawals during your monthly statement cycle, you’ll incur a $10 fee for every withdrawal after that.

3. High Rate: Ally Bank - 0.50% APY, no minimum balance needed for APY and a free checking account (no ATM access)

High-yield savings from Ally Bank

Overview: Ally Bank started in 2004 and is headquartered in Sandy, Utah. In 2009, GMAC Bank was transformed into Ally Bank. It has 2.3 million deposit-account customers, according to its 2020 annual report.

Perks: You can deposit checks remotely with Ally eCheck Deposit. The Online Savings Account also has no monthly maintenance fees. Ally Bank also has 24/7 live customer care.

What to watch for: Like many online banks, you won’t be able to deposit cash into this account. If you only have the Online Savings Account you won’t be able to get an ATM or debit card. You’re only able to deposit $50,000 in a day and up to $250,000 every 30 calendar days via eCheck Deposit.

4. High Rate: Barclays Bank - 0.50% APY, no minimum balance needed for APY (no ATM access)

Savings interest rates from barclays

Overview: Barclays is often known for its credit cards, but it also offers a consistent high yield on its savings products. Products from Barclays are only available online in the U.S. Barclays offers a competitive, high yield on its savings account.

Perks: Among the perks of an online savings account at Barclays, you'll find a very competitive interest rate, no minimum to open, 24/7 access to funds, online transfers to and from other banks and direct deposit. Additionally, Barclays has a mobile savings app that also allows you to deposit/transfer funds.

What to watch for: If you're looking for a full-service banking institution, Barclays isn't a great option. The bank doesn't offer a checking account option, an ATM network, or branch locations. It's best for those who like to bank online and want an outside institution for its savings options.

5. High Rate: Citibank - 0.50% APY, $0 minimum opening deposit/$1 minimum for APY (ATM access)

high-interest savings from citibank

Overview: Citibank, the retail banking arm of Citigroup, launched a high-yield savings account called Citi Accelerate in 2019. The account pays well above the national average as well as higher than many of the savings rates offered by some of the nation’s largest banks. There’s no minimum balance requirement to earn the APY and no minimum to open an account. But the APY is only available in select markets.

Perks: If you’re already a Citi customer or you’re looking for an account at a bank that has a large national presence, this high-yield savings account may be worth considering. The APY is among the top yields you’ll find at a big bank, and the no minimum balance required to earn the APY makes it easy for anyone to start saving.

What to watch for: The account carries a monthly service charge fee of $4.50 if you open the Citi Accelerate Savings account in a Basic or Access Account package. If you choose one of those packages, the fee can be waived by keeping at least a $500 average monthly balance.

6. High Rate: Marcus by Goldman Sachs - 0.50% APY, no minimum balance to earn APY (no ATM access)

Savings account from marcus by goldman sachs

Overview: The well-known investment firm Goldman Sachs opened Marcus as its consumer banking arm. Marcus has built a reputation for having a competitive APY. In addition, Marcus has an easy account opening process and it’s also simple to transfer money to accounts at other banks.

The savings account option from Marcus requires no minimum deposit to open and no minimum to earn the APY. In addition to savings products, Marcus also offers a range of personal loan options, from debt consolidation to home improvement.

Perks: Along with a high interest rate, the savings account product from Marcus comes with easy-to-meet requirements and the benefits of an online bank. You can access your account at any time, and you'll pay no fees for transactions. Marcus’ contact center is open seven days a week.

Marcus' savings account doesn’t have a minimum deposit amount, so it’s easy for anyone to open this account. Marcus by Goldman Sachs now has an app available on iOS and Google Play, where you can schedule recurring deposits into your account.

What to watch for: You won't find any branches at Marcus. There's also no checking account option at Marcus, limiting your liquidity options.

7. High Rate: Synchrony Bank - 0.50% APY, no minimum balance needed for APY (ATM access)

Best savings rate from synchrony bank

Overview: Synchrony Bank provides a range of depository products for consumers, including savings and money market accounts and a number of CDs. As an online bank, it has limited overhead cost, which means it can return those savings to customers in the form of higher rates. Indeed, its savings account and other depository products are consistently among the top-paying accounts. Synchrony also has a highly rated customer service department available by online chat or by phone seven days a week.

Perks: Customers get a lot of perks, including complimentary identity theft resolution as well as travel and leisure discounts. You'll even get a dedicated customer service number as a "Diamond" customer. You also have three free wire transfers per statement cycle and unlimited ATM reimbursements.

What to watch for: Synchrony Bank doesn't offer a checking account. It's not a full-service bank. So, if you're looking for liquidity, you might want to stash your cash elsewhere.

8. High Rate: Popular Direct - 0.45% APY, $5,000 minimum balance needed for APY (no ATM access)

Overview: A Popular Direct Ultimate Savings account is opened through Popular Bank. Popular Bank is an FDIC-insured bank that was established in 1999, according to the FDIC.

Perks: Popular Direct offers a competitive APY on its Popular Direct Ultimate Savings account, which debuted in July 2019. You can deposit a check into your Popular Direct Plus Savings account using your mobile device.

What to watch for: Popular Direct has a higher minimum balance requirement than some other banks. But there are also banks that have higher deposit requirements as well. ATM cards are not available for a Popular Direct savings account, but you can make an external transfer via ACH.

There are some fees to be aware of. There’s a $25 fee if you close your account within the first 180 days. Also, if your balance goes below $500 for any day during your statement cycle, there’s a $4 fee.

9. High Rate: American Express National Bank - 0.40% APY, no minimum balance needed for APY (no ATM access)

Best savings account from american express bank

Overview: American Express is best known for its credit cards. But it also offers a competitive savings account. The account also has no fees and lets you link your external bank account. The company also offers a variety of CDs.

Perks: The online high yield savings account from American Express provides a competitive rate. It doesn't charge any monthly fees, and it doesn't require a minimum balance. The ability to link current bank accounts offers an easy solution if you have outside accounts that you'd like to view on one platform.

What to watch for: American Express doesn’t have a checking account, so you’ll need to bank elsewhere to get one. Similar to other online banks, American Express does not have any branch locations. And there's no mobile check deposit option — American Express reserves mobile apps for its credit card customers.

10. High Rate: Capital One - 0.40% APY, no minimum balance needed for APY

Best Savings rates from capital one 360

Overview: In addition to its credit cards, Capital One also provides a range of banking and lending products. Besides the 360 Performance Savings account, which made its debut in September 2019, Capital One also offers CDs, a savings IRA and a checking account.

Perks: The 360 Performance Savings account at Capital One doesn't have a monthly fee and doesn't require a minimum balance when you open the account. Also, you don't have to maintain a minimum in this account and all balances earn the same APY.

What to watch for: There are some accounts at online banks that offer higher yields on savings accounts.

11. High Rate: Discover Bank - 0.40% APY, no minimum balance needed for APY (no ATM access)

Best savings rate from discover bank logo

Overview: Discover Bank has been offering deposit products online since 2007. Discover is best known for its credit cards. But it also offers a savings account, money market account, checking account and CDs.

The Discover Online Savings Account isn’t the highest-yielding account. But it offers a very competitive APY and it has no minimum opening deposit and no monthly fee.

Perks: Discover Bank is a good option for an online bank that offers the most popular types of deposit products.

Not many online banks offer checking, money market accounts, savings and CDs. But Discover Bank offers all four and has competitive products in each category. It also offers a competitive yield on its savings account. Discover Bank might be for you if you want your checking and savings at the same online bank.

What to watch for: The Discover Bank Online Savings Account has a consistent APY. But there are higher-yielding accounts available.

12. High Rate: Citizens Access - 0.40% APY, $5,000 minimum balance to earn APY (no ATM access)

Best savings account from citizens access

Overview: Citizens Access is the online bank division of Citizens Bank. It offers a high-yield online savings account and CDs with terms between six months and five years. The online savings account doesn’t have a maintenance fee.

Perks: Citizens Access has a competitive savings account yield near the top of the available offers from Bankrate. Additionally, there are no sign-up or monthly fees.

What to watch for: There is a $5,000 minimum balance to get the highest APY. Citizens Access doesn’t have a mobile app, but you can deposit a check by signing into your account on your phone. Also, balances under $5,000 earn only 0.1 percent APY.

13. High Rate: PurePoint Financial - 0.40% APY, $10,000 minimum balance to earn APY (no ATM access)

high-yield savings from purepoint financial

Overview: PurePoint is a division of MUFG Union Bank NA. PurePoint Financial is consistently among the top-APY savings accounts. The Online Savings account isn’t meant for those who are just starting to save, since it has a higher minimum balance requirement compared with other savings accounts.

Perks: The PurePoint Online Savings account doesn’t have a monthly service charge. Interest is paid monthly with this account. The PurePoint savings account offers one of the most competitive savings APYs around.

What to watch for: If your balance drops below $10,000, the account only earns 0.1 percent APY. ATM cards aren’t available for PurePoint’s Online Savings account. PurePoint doesn’t have a mobile app. But it does have mobile banking through your phone’s web browser — which has mobile check deposit abilities..

14. High Rate: CIT Bank - up to 0.40% APY, $25,000 minimum balance or $100/month deposit to earn APY (no ATM access)

High-yield savings from cit bank

Overview: CIT Bank is a nationwide direct bank and is a division of CIT Bank NA, which is a subsidiary of CIT Group Inc., a financial holding company founded in 1908.

Perks: CIT offers competitive yields on its accounts and has a couple of options for savers. The Savings Builder – as long as you open it with at least $100 and keep making at least $100 in monthly deposits – earns a competitive APY.

What to watch for: There are two ways to earn the top APY. You need to either maintain a $25,000 balance, or you can open an account with at least $100 and make deposits of at least $100 each month. You’ll earn a much lower variable rate if your balance goes below $25,000 or if you don’t make monthly deposits of at least $100.

You’d earn that APY if you opened your account on the 15th of the month and didn’t make a qualifying deposit of $100 after opening the account. Your actual APY may be higher or lower, depending on the day of the month that you open your account.

Even before you look at the APY offered on a savings account, make sure you have enough money to open the account and can maintain the minimum balance requirement (if there is one). Also, check to see if the bank charges account fees. Even if it’s a high-yielding account, monthly maintenance fees can cause you to lose interest earnings or even some of your principal.

The good news? It’s easy to find an account that will help you earn a high APY without getting hit with costly fees. Here are some other items to look at in your next high-yield savings account:

  • High APY: Aim for the best APY that will generate the most payout on your savings. But if that account isn’t a good fit for you, there are plenty of competitive yields at other banks to consider. Usually, the best rates are offered by online banks, which have lower overhead costs than brick-and-mortar banks.
  • Low fees: Find an account that doesn’t charge fees. Or if it charges fees, make sure that you’ll be able to meet the requirements to avoid paying them and getting them waived.
  • Easy withdrawals and deposits: A savings account is meant for growing your money. But your money needs to be accessible when you need it. Banks will let you access your savings in different ways. For example, some banks offer Zelle, which lets you send money to people you know through an app. Some banks provide ATM cards to access your money.
  • FDIC-insured: Your money should be in an FDIC-insured account. Always make sure your bank is insured by the FDIC and confirm you’re within FDIC insurance limits and guidelines.
  • Bank account bonus: Some banks offer new customers a cash bonus if they open a new account. Those offers may require you to fund the account with “new money,” which means the money comes from outside of the bank.

Important online savings account terminology

  • Compound interest: Method of calculating interest where interest earned over time is added to the principal. Compounding is usually done on a daily or monthly basis. The more often the compounding, the faster your savings will grow.
  • Interest: Money that you earn for having your funds deposited with a bank.
  • Interest rate: A number that doesn't take into account the effects of compounding.
  • Annual percentage yield (APY): Takes into account the effects of compounding during the year. The best way to compare yields is to use this number, rather than comparing interest rates. The higher the APY, the more income you’ll earn on your cash.
  • Minimum balance requirement: The amount you have to keep in a savings account in order to avoid a monthly maintenance fee.
  • Money market account: A type of savings account that may offer an ATM card for ATM withdrawals and/or checks. Here is more information on the best money market accounts.

What is a savings account?

A savings account is a type of financial account found at both banks and credit unions. These federally insured accounts typically pay interest, but often at lower rates than other interest-bearing financial products insured by the government, like certificates of deposit (CD).

In exchange for lower rates, savings accounts offer more liquidity, allowing for up to six types of withdrawals or transfers per statement cycle (and potentially more). That makes savings accounts ideal for stashing money you may need access to if unexpected costs arise.

Savings accounts can play a crucial role in your financial health. Unlike a CD, which forces you to lock up your money for a specified period of time, there’s no set term for maturity with a savings account. So, it’s a good spot to park your emergency fund.

And safety — and preservation of your principal — is the name of the game with these savings products. Savings accounts are insured up to at least $250,000 at banks by the FDIC and at (National Credit Union Administration) NCUA credit unions, which operate and manage the National Credit Union Share Insurance Fund (NCUSIF).

Is money safe in a savings account?

The money in a savings account is safe if it’s deposited at either an FDIC bank or at an NCUA credit union and your balance doesn’t exceed the deposit insurance amount. The standard FDIC deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category. At NCUA credit unions, the standard share insurance amount is $250,000 per share owner, per insured credit union, for each account ownership category.

What are the different types of savings accounts?

Generally speaking, there is only one type of savings account. Some savings accounts may be called high-yield savings accounts; however, that doesn’t necessarily mean that they offer a higher APY. Money market accounts also fall under the official definition of savings deposit accounts.

Some banks may also offer special savings accounts for children. Other institutions may have one account for everyone, but may allow the account to be titled so that it can be a custodial savings account.

Here are some possible titling options to designate the owner(s) of a savings account. Some banks don’t allow all of these types. Potential titling options include:

  • Individual account: An account owned by a single person. No one else is allowed to access this account. (An exception can be if someone has a power of attorney for the individual account holder.)
  • Joint account with rights of survivorship: If two people have a joint savings account — with no other beneficiaries on the account — and one of the joint owners dies, the account is paid to the living account holder.
  • Payable on death (POD): If an individual savings account has one or more beneficiaries listed and the account owner passes away, these beneficiaries will receive the balance of the account. Appropriate proof, generally a death certificate, is needed. A beneficiary on a joint account, listed as POD, wouldn’t obtain a right to this account until the last account owner passes away.
  • Uniform Transfers to Minors Act/Uniform Gifts to Minors Act (UTMA/UGMA): Typically, these types of accounts will have one custodian and one minor. The custodian manages the account for the minor until the child reaches age 18 or age 21, depending on the state. Availability of UTMA/UGMAs will depend on the state.

Not all savings accounts are created equal. If you pay close attention to the yields and fees associated with different accounts, you’ll notice that many online banks pay higher yields than their brick-and-mortar counterparts, for example.

When choosing a savings account, consider APY, minimum deposit requirements and your financial goals. The best savings accounts will provide a competitive APY, but also give you the flexibility to securely withdraw or transfer money each statement period.

How do savings accounts work?

Savings accounts are liquid bank accounts that usually offer a higher APY than checking accounts. Savings accounts are referred to as liquid because they let you access your money at any time. This feature separates savings accounts from certificates of deposit. A CD requires you to keep your savings in it for a certain term, such as one year or five years, and usually charges you with an early withdrawal penalty if you take your money out early.

Keep in mind that while it's possible to withdraw cash from a savings account, doing so diminishes the amount of interest you earn. The longer you're able to keep from touching your savings, the more the power of compound interest will work in your favor. Compound interest — or earning interest on interest — allows even small deposits to add up to bigger amounts over time.

That feature makes it crucial to compare APYs when choosing a savings account (because APYs include compound interest you earn during the year). APYs are the best way to compare how much interest you're currently earning or could be earning.

You can use our compound interest calculator to calculate your potential earnings on a savings account.

Online savings accounts vs. traditional savings accounts

Источник: https://www.bankrate.com/banking/savings/rates/

Deposit Account Rates


Savings Accounts

Savings Account

Minimum BalanceRateAPY
$5.00.04%.05%
Effective 5.20.2021
 

Individual Retirement Account (IRA) Savings

Minimum BalanceRateAPY
$0.04%.05%
Effective 5.20.2021
 

Christmas Club Account

Minimum BalanceRateAPY
$0.05%.05%
Effective 5.20.2021
 

Vacation Club Account

Minimum BalanceRateAPY
$0.04%.05%
Effective 5.20.2021

Certificates

Certificates

TermMinimum BalanceRateAPY
6 - Month Certificate$500.29%.30%
1 - Year Certificate$500.49%.50%
2 - Year Certificate$500.59%.60%
3 - Year Certificate$500.64%.65%
5 - Year Certificate$500.79%.80%
1 - Year Jumbo Certificate$100,000.54%.55%
2 - Year Jumbo Certificate$100,000.64%.65%
Effective 4.9.2021
 

IRA Certificates

TermMinimum BalanceRateAPY
6 - Month Certificate$500.29%.30%
1 - Year Certificate$500.49%.50%
2 - Year Certificate$500.59%.60%
3 - Year Certificate$500.64%.65%
5 - Year Certificate$500.79%.80%
1 - Year Jumbo Certificate$100,000.54%.55%
2 - Year Jumbo Certificate$100,000.64%.65%
Effective 4.9.2021
 

Health Savings Account (HSA) Certificates

TermMinimum BalanceRateAPY
6 - Month Certificate$500.29%.30%
1 - Year Certificate$500.49%.50%
2 - Year Certificate$500.59%.60%
3 - Year Certificate$500.64%.65%
Effective 4.9.2021

Money Market Accounts

Thrive Money Market

Deposit AmountRateAPY
$100 - $4,999.99.14%.15%
$5,000 - $24,999.99.19%.20%
$25,000+.39%.40%
Effective 4.9.2021
 

IRA Money Market

Deposit AmountRateAPY
$100 - $4,999.99.14%.15%
$5,000 - $24,999.99.19%.20%
$25,000+.39%.40%
Effective 4.9.2021
 

Checking Accounts

Choice Checking

Deposit AmountRateAPY
Up to $4,999.99.05%.05%
$5,000+.10%.10%
Effective 2.20.2019
 

Amplified High-Yield Checking*

Deposit AmountRateAPY
Up to $1,499.99.05%.05%
$1,500 - $49,999.99.20%.20%
$50,000 - $249,999.99.54%.55%
$250,000 - $999,999.99 (br) (Variable based on 1-Month Treasury Bill).54%.55%
$1,000,000+ (br) (Variable based on 1-Month Treasury Bill).54%.55%
Effective 11.23.2021
 

HSA Checking Account

Deposit AmountRateAPY
$0.10%.10%
Effective 7.30.2018
   

 

APY = Annual Percentage Yield. Rates are subject to change. Please call: 513.243.4328 or 800.542.7093 with questions. Disclosures are available upon request.
*Amplified High-Yield Checking: If your average daily balance is below $1,500, you will incur a $15 monthly maintenance fee. To earn dividends, you must have a balance greater than $0. Dividend rates are based on the account balance and account tier. The tiers are as follows: Tier 1 daily balance of $0.01 to $1,499.99; Tier 2 daily balance of $1,500 to $49,999.99; Tier 3 daily balance of $50,000 to $249,999.99; Tier 4 daily balance of $250,000 to $999,999.99 (1-Month Treasury Bill); Tier 5 daily balance of 1,000,000 or more (1-Month Treasury Bill). Tiers 4 and 5 are subject to variable-rate pricing and will adjust weekly. Under no circumstance will Tier 4 and Tier 5 rates be less than the stated Tier 3 rate. We will update this rate weekly on Tuesday to reflect the previous Friday’s 1-Month Treasury Bill rate. If the preceding Friday, Monday, or Tuesday are an observed holiday, the rates will be updated the following Wednesday. The 1-Month Treasury Bill rate can be found from the U.S. Department of Treasury site under the “Daily Treasury Yield Curve Rate” drop down option. We use the daily balance method to calculate the dividend on your account. Dividends begin to accrue no later than the business day we receive the deposit to your account. You will receive the accrued dividends if you close your account before dividends are posted. Annual Percentage Yield will vary due to account activity and balance. Fees may reduce earnings.


Back to TopИсточник: https://www.gecreditunion.org/home/accounts/deposit-rates

Start growing your retirement nest egg

1Ignite Savings account annual percentage yield (APY) and rate may change. Fees could reduce earnings. 5.25% APY on balances up to $500, 5.25%-3.45% APY on balances $500.01-$2,500, 3.45%-2.23% APY on balances $2,500.01-$5,000, 2.23%-0.85% APY on balances $5,000.01-$25,000, and 0.85%-0.15% APY on balances of more than $25,000.01. First-year earnings are based on a 12-month average. 

2Money Market account APY & rate may change. Fees could reduce earnings. 0.15% APY on balances $500-$99,999.99, 0.20% APY on balances $100,000-$249,999.99, and 0.20% APY on balances of more than $250,000.

3Holiday or Tax Savings account APY & rate may change. There is a minimum opening balance requirement of $25. Fees could reduce earnings.

4Primary Savings account APY & rate may change. There is a minimum opening balance requirement of $5. Fees could reduce earnings.

 

View all rates and fees associated with savings accounts

Источник: https://www.myoccu.org/personal/savings-accounts

Pen Air Federal Credit Union is a large credit union with branches in Alabama and Florida. However, the institution's services can be applied for and accessed online or through your mobile device if you don't live in these states. The firm has a handful of strong offerings, with its Level UP Youth Accounts being some of its best accounts. In fact, Pen Air offers both a youth savings account and a youth checking account.

The Level UP Savings Account is available as a joint account for children 18 or younger, and it only requires a $25 minimum deposit to open. Once you become an account holder, your balance will begin earning a 0.40% APY, which is one of the better rates currently on the market for a children's account. As a way of padding your child's future account balance, Pen Air offers a $10 bonus when you open your account. But if you reach $250 and $500 balances, you'll receive another $20 and $30 bonus, respectively. That means your bonus could be as much as $60 in total.

Pen Air's Level UP Spending Account is the checking account partner of the aforementioned savings account. This account is designed to teach children from 8 to 18 how to manage their money on a daily and monthly basis. The account comes with a free debit card, online and mobile banking privileges and money mangement features that are backed by parental controls. You and your child will also have access to free educational resources so they can learn about money.

Like all credit unions, you must become a member of Pen Air before opening an account. Here's the various ways you and your family can join:

  • Join Friends of the Navy Marine Corps Relief Society by making a $1 donation
  • Have an immediate family member or member of your household who is a Pen Air member
  • Hold one of the following statuses: active military, military reserve, retired military, coast guard, active civil service or retired civil service
  • Work or belong to an eligible organization or association
Источник: https://smartasset.com/checking-account/best-credit-unions

Overview

You shouldn’t need an advanced degree to get the most out of your money. That’s why competitive rates and outstanding service come standard on all of our savings account options! You can even make saving automatic by setting up payroll deduction or recurring transfers from your checking account. And with U of I Community Credit Union’s digital banking app, you’ll be able to manage your savings account whenever and wherever it’s most convenient for you.

Savings Account Types

Share Savings Account

Establish your credit union membership and watch your savings grow! Opening a Share Savings Account makes you a co-owner of the credit union and gives you access to all of UICCU’s products and services. Parents can open a Share Savings Account for children ages newborn and up! All you need is your child’s birth certificate and original social security card. One of the child’s guardians will need to be a joint owner on the account.

IRA Share Savings Account

An IRA Savings Account gives you the flexibility to save for your long-term plans! It’s never too early or too late to start saving for your future, and this account makes it easy. There’s no penalty for early withdrawal, but you’ll benefit the most when you let your savings grow over time. IRA Share Savings Accounts are subject to IRS terms and conditions. We also offer IRA Certificates.

Christmas Club Account

There’s no time like the present to start saving for next year’s presents! Saving money throughout the year can help you avoid stress and enjoy the holidays more. Even putting aside a few dollars per month throughout the year will make it easier to afford holiday gifts, travel, and other seasonal expenses. The funds in this account automatically transfer to your Share Savings Account the first week of October. There is a $5 access fee for early withdrawals.

Vacation Savings Account

Whether you’re planning a weekend getaway, annual trip, or a dream vacation, we can help you save for it! Establishing a Vacation Savings Account makes it easier to set money aside specifically for whatever you’ve got planned. You can contribute to your account as often as you want and withdraw the money whenever you’re ready. Use funds from your Vacation Savings Account to purchase a Travel Card for your getaway and we’ll waive the fee!

Savings Account Rates

Account TypeMinimum Opening DepositMinimum BalanceAPY*
Share Savings$5$50.05%
IRA Share SavingsNoneNone0.05%
Holiday ClubNoneNone0.05%
Vacation ClubNoneNone0.05%
Источник: https://www.uoficreditunion.org/banking/savings/

Overview

You shouldn’t need an advanced degree to get the most out of your money. That’s why competitive rates and outstanding service come standard on all of our savings account options! You can even make saving automatic by setting up payroll deduction or recurring transfers from your checking account. And with U of I Community Credit Union’s digital banking app, you’ll be able to manage your savings account whenever and wherever it’s most convenient for you.

Savings Account Types

Share Savings Account

Establish your credit union membership and watch your savings grow! Opening a Share Savings Account makes you a co-owner of the credit union and gives you access to all of UICCU’s products and services. Parents can credit union savings account interest rates a Share Savings Account for children ages newborn and up! All you need is your child’s birth certificate and original social security card. One of the child’s guardians will need to be a joint owner on the account.

IRA Share Savings Account

An IRA Savings Account gives you the flexibility to save for your long-term plans! It’s never too early or too late to start saving for your future, and this account makes it easy. There’s no penalty for early withdrawal, but you’ll benefit the most when you let your savings grow over time. IRA Share Savings Accounts are subject to IRS terms and conditions. We also offer IRA Certificates.

Christmas Club Account

There’s no time like the present to start saving for next fleet and farm mankato mn presents! Saving money throughout the year can help you avoid stress and enjoy the credit union savings account interest rates more. Even putting aside a few dollars per month throughout the year will make it easier to afford holiday gifts, travel, and other seasonal expenses. The funds in this account automatically transfer to your Share Savings Account the first week of October. There is a $5 access fee for early withdrawals.

Vacation Savings Account

Whether you’re planning a weekend getaway, annual trip, or a dream vacation, we can help you save for it! Establishing a Vacation Savings Account makes it easier to set money aside specifically for whatever you’ve got planned. You can contribute to your account as often as you want and withdraw the money whenever you’re ready. Use funds from your Vacation Savings Account to purchase a Travel Card for your getaway and we’ll waive the fee!

Savings Account Rates

Account TypeMinimum Opening DepositMinimum BalanceAPY*
Share Savings$5$50.05%
IRA Share SavingsNoneNone0.05%
Holiday ClubNoneNone0.05%
Vacation ClubNoneNone0.05%
Источник: https://www.uoficreditunion.org/banking/savings/

Start growing your retirement nest egg

1Ignite Savings account annual percentage yield (APY) and rate may change. Fees could reduce earnings. 5.25% APY on balances up to $500, 5.25%-3.45% APY on balances $500.01-$2,500, 3.45%-2.23% APY on balances $2,500.01-$5,000, 2.23%-0.85% APY on balances $5,000.01-$25,000, and 0.85%-0.15% APY on balances of more than $25,000.01. First-year earnings are based on a 12-month average. 

2Money Market account APY & rate may change. Fees could reduce earnings. 0.15% APY on balances $500-$99,999.99, 0.20% APY on balances $100,000-$249,999.99, and 0.20% APY on balances of more than $250,000.

3Holiday or Tax Savings account APY & rate may change. There is a minimum opening balance requirement of $25. Fees could reduce earnings.

4Primary Savings account APY & rate may change. There is a minimum opening balance requirement of $5. Fees could reduce earnings.

 

View all rates and fees associated with savings accounts

Источник: https://www.myoccu.org/personal/savings-accounts

High credit union savings account interest rates savings account

Features

  • Earn 0.45% on every dollar, calculated daily, and paid monthly
  • Unlimited free transactions1
  • Meridian cardholders have access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE® Network in Canada and the Allpoint Network in the US
  • Our High Interest Savings Account is also available in a Tax Free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) account.The account is not available for Provincial or Federal Locked-in RRSP or RRIF plans.
  • For RRIF option, please visit a branch or talk to a Meridian Wealth Advisor
FeeDescription

$0

Monthly fee2

Other important stuff

  • Access to branch, online, mobile and telephone banking
  • Use your Meridian debit card with Interac Flash® to make payments through Interac Debit® in Canada and ACCEL® in the U.S. (available on non-registered accounts only)
  • Complete ABM transactions via Meridian, THE EXCHANGE® Network and Interac® in Canada and internationally through ACCEL® and Allpoint (U.S. only) and Cirrus® networks (available on non-registered accounts only)
  • Interac e-Transfers® are available for an additional fee

1Self-serve transactions include bill payments and transfers between accounts via: Online, Mobile or Telephone Banking and ABMs, Interac® Direct Payment purchases, pre-authorized debit, and ABM withdrawals. Personal service transactions include all in-branch withdrawals, transfers, bill payments and Contact Centre for transfers and bill payments.

2Account fees, rates and services subject to change without notice. HST included.

®THE EXCHANGE Network, Allpoint and ACCEL are registered trademarks of Fiserv, Inc., licensed for use in Canada by FICANEX Services Limited Partnership.

Interac Flash®, Interac Debit® and Interac e-Transfers® Trade-marks of Interac Corp. Used under license.

®Cirrus is a credit union savings account interest rates trademark of MasterCard International Incorporated. Used under license.

We use cookies on the Meridian website for security purposes and to improve your marketing experience. Select “Cookie Settings” to learn more and to specify your preferences. Or, simply, select “Accept” to agree to the use of cookies as described in our cookie policy page.

We use cookies on the Meridian website for security purposes and to improve your marketing experience. Select “Cookie Settings” to learn more and to specify your preferences. Or, simply, select “Accept” to agree to the use of cookies as described in our cookie policy. 

More Information

Persistent cookies are stored on your device between browsing sessions until they expire, (30 days or more), or, until you delete them.  Persistent cookies enable the website to recognize you and your preferences upon your return.

Session cookies expire when you leave the website or log out of online banking. Session cookies allow the website to recognize you as you move between website pages during a browsing session. Third-party cookies are a type of session cookie that enable companies like Facebook and Pinterest to provide content that is relevant to your specific interests. 

Use the toggles to choose which specific cookies you wish to enable or disable. 

Источник: https://www.meridiancu.ca/personal/accounts/savings-accounts/high-interest-savings-account

Savings Accounts at MFCU

Members First Credit Union has options for your saving and investing needs including high yield and super high yield accounts.

Savings Accounts

Opening a savings account is super easy! If you are a new member, either apply online, or stop by a branch. You will need $5 to establish your membership and open the account, as well as two forms of ID. In order to obtain a membership, the following identifying information will be required, and other information may credit union savings account interest rates required as well. Click here for information on adding a checking account!

Acceptable Forms of Primary ID

  • Driver’s License
  • State ID Card
  • US Passport
  • Foreign (Alien) Passport
  • US Military ID
  • Permanent Resident Card
  • Alien Registration Card
  • Employment Authorization Card
  • Tribal ID Card
  • Other Government issued ID with a picture

Acceptable Forms of Secondary ID

  • Original Social Security Card
  • Firearm License or Permit
  • Voter Registration Card
  • Insurance Card
  • Employee ID
  • Credit or Debit Card
  • Unexpired Student ID (18 & Over)
  • Welfare ID
  • Paystub
  • Individual Taxpayer Identification Number/Authorization from IRS
  • Organization Membership Card (Club Card, must contain Member's name)

Become a Member

Effective Date: Thursday, November 25th, 2021
Please contact us or stop into a branch to verify the current rate.
Account TypeDividend RateAnnual Percentage YieldMinimum Balance
Regular Shares *0.06%0.06%$5.00
Kid's Club*0.06%0.06%$5.00
Student Club*0.06%0.06%$5.00
Christmas Club*0.06%0.06%N/A
Special Savings *0.06%0.06%N/A
*Dividends are calculated by the daily balance method and credited on the last day of each quarter.
Rates are variable and may change after account is opened.
Rates and terms are subject to change as determined by the Board of Directors.

High Yield Accounts

High Yield Accounts require a higher minimum balance to earn interest than a traditional savings account but you may be able to earn more depending on the balance in the account. They offer a higher rate of return and you can deposit to them at any time. High Yield Accounts allow unlimited in-person transactions and up to six electronic withdrawals (which includes automatic debits from a third party, electronic transfers through online banking or phone banking, and ATM withdrawals) per month. Plus, there are no minimum balance fees.

Open a High Yield Account
Please stop by your local branch or give us a call at 855.835.6328 so that we can verify your information and get this created for you! The minimum balance to earn interest is $1,000.

High Yield and IRA High Yield Savings
Effective Date: Thursday, November credit union savings account interest rates, 2021
Please contact us or stop into a branch to verify the current rate.
BalanceDividend RateAnnual Percentage Yield
$0 - $999.99N/AN/A
$1,000 - $4,999.990.06%0.06%
$5,000 - $9,999.990.10%0.10%
$10,000 and above0.12%0.12%
*Dividends are calculated by the daily balance method and credited on the last day of each quarter.
Rates are variable and may change after account is opened.
Rates and terms are subject to change as determined by the Board of Directors.

Super High Yield Accounts

Super High Yield Accounts require a higher minimum balance to earn interest than a traditional savings account or high yield savings account but will earn you more money. They offer a higher rate of return and you can deposit to them at any time. Super High Yield Accounts have unlimited in-person transactions and six electronic or check withdrawals per month. Plus, there are no minimum balance fees.

Open a Super High Yield Account
Please stop by your local branch or give us a call at 855.835.6328 so that we can verify your information and get this created for you! The minimum balance to earn interest is $10,000.

Super High Yield and IRA Super High Yield Savings
Effective Date: Thursday, November 25th, 2021
Please contact us or stop into a branch to verify the current rate.
BalanceDividend RateAnnual Percentage Yield
$0 - $9,999.99N/AN/A
$10,000.00 - $24,999.990.13%0.13%
$25,000.00 - $49,999.990.15%0.15%
$50,000.00 - $99,999.990.17%0.17%
$100,000.00 - $199,999.990.20%0.20%
$200,000.00 and higher0.22%0.22%
*Dividends are calculated by the daily balance method and credited on the last day of credit union savings account interest rates quarter.
.10% APY bonus earned if you also have a MFCU Premier Checking Account.
Rates are variable and may change after account is opened.
Rates and terms are subject to change as determined by the Board of Directors.

Learn more about saving and set your own goals using our financial calculators. 

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CD's & IRA's

Members First Credit Union has options for your saving needs including CDs (Certificates of Deposit) and IRAs (Individual Retirement Accounts).

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Investment Services

Members First Credit Union has an Investment Team that will find strategies to help you save and invest for your future, your family, and your financial independence.

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Youth Accounts

We teach younger members proper saving and borrowing habits while guiding them to a bright financial future.

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Источник: https://www.mfcu.net/Savings

Pen Air Federal Credit Union is a large credit union with branches in Alabama and Florida. However, the institution's services can be applied for and accessed online or through your mobile device if you don't live in these states. The firm has a handful of strong offerings, with its Level UP Youth Accounts being some of its best accounts. In fact, Pen Air offers both a youth savings account and a youth checking account.

The Level UP Savings Account is available as a joint account for children 18 or younger, and it only requires a $25 minimum deposit to open. Once you become an account holder, your balance will begin earning a 0.40% APY, which is one of the better rates currently on the market for a children's account. As a way of padding your child's future account balance, Pen Air offers a $10 bonus when you open your account. But if you reach $250 and $500 balances, you'll receive another $20 and $30 bonus, respectively. That means your bonus could be as much as $60 in total.

Pen Air's Level UP Spending Account is the checking account partner of the aforementioned savings account. This account is designed to teach children from 8 to 18 how to manage their money on a daily and monthly basis. The account comes with a free debit card, online and mobile banking privileges and money mangement features that are backed by parental controls. You and your child will also have access to free educational resources so they can learn about money.

Like all credit unions, you must become a member of Pen Air before opening an account. Here's the various ways you and your family can join:

  • Join Friends of the Navy Marine Corps Relief Society by making a $1 donation
  • Have an immediate family member or member of your household who is a Pen Air member
  • Hold one of the following statuses: active military, military reserve, retired military, coast guard, active civil service or credit union savings account interest rates civil service
  • Work or belong to an eligible organization or association
Источник: https://smartasset.com/checking-account/best-credit-unions

Savings

All VACU locations are closed on 11/25.

A family sitting on sofa together.

Do your long-term plans include buying a house, paying for college or enjoying retirement? Our savings services help you be ready when that future is here – or to cover an unexpected expense.

Regular Savings

Open an account with just $5 and earn competitive returns on balances of $100 or more. Add to the account easily with direct deposit or automatic transfers.

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Free debit card, nationwide ATM access, online banking with eStatements, mobile banking app with mobile deposit, phone banking, and more

Money Market Savings

Get more for your money – with ready access to your funds. Our Premium account requires a minimum balance of $10,000, and our Premium Plus account requires $25,000. The more you save, the more you earn.

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Attractive dividends up to

Up to 0.20% APY2 for Premium and 0.35% APY for Premium Plus

(View Rates)

Checking transfers3, digital banking access and automatic overdraft protection on checking

Savings Certificates

Open a certificate with $500 or more and watch your savings grow. Add deposits to select certificates.

Learn more

6-60

Choose how long to save with terms from 6 to 60 months5

Individual Retirement Accounts (IRAs)

Two options help you grow retirement savings, starting with $10,000 or $25,000. IRAs can provide tax benefits, but speak to your tax advisor first.

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Payroll deduction and automatic transfers

Health Savings Accounts (HSAs)

Pay for future eligible medical expenses with pre-tax dollars. Open an account for just $5. Yearly contribution limits of $3,500 for eligible individuals and $7,000 for families7

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Free debit card, monthly account statement – and your first order of checks is free! Annual service fee

Kids Savings Accounts

Help your kids save money for long-term goals – including college – with savings accounts starting as low as $5. Choose from Regular Savings, Money Market Savings or Savings Certificates.

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Oversee your child’s access to their money; help birthday and holiday gift money grow

Become a member.

When you become a credit union member, you can access these great accounts, low rates, online and mobile banking, member discounts and more.

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Источник: https://www.vacu.org/banking/savings

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