Work for Aflac? If so, don't overlook one of the perks of the job. Aflac Federal Credit Union is offering a 2.41% APY savings account for its members, and that's no quack. The average national savings account rate for local banks is 0.21% while for online banks it is 0.80%. That gives you a sense of how competitive this rate is. The rate holds for deposits up to $100,000.01. The rate on deposits over this limit drops to 1.10% APY which is still highly competitive.
Like most credit unions, Aflac has a restricted field of membership. That means not everyone can join the credit union and open an account. To quality for membership, you must be an employee of Aflac, or the spouse of an empolyee. If you qualify, you can call them and request a membership packet. The packet also contains instructions for how to open a savings account.
Aflac is a medium sized credit union with $168 million in assets. It has a Texas Ratio of 15.14%, which is higher than the national average of 10.34% but not high enough to be a big concern. It is NCUA insured, and is located in Columbus, GA.
Our weekly update came out a few day late this week because of the holiday. I'll be back to the normal Monday schedule after the New Year. Happy New Year and here's to higher deposit rates in 2012 (although I think we may have to wait until 2013).
Look for the best savings account rates in your area by clicking the "Savings" tab above.
Previous Weekly Rate Deals
- December 19, 2011 - CIT Bank and Its 1.15% APY 12-Month Achiever CD
- December 12, 2011 - Citizens State Bank of TX Offering 2.85% IRA CD
- December 5, 2011 - Digital Federal Credit Union Offering 2.86% APY CD - Nationally Available
- November 29, 2011 - Community First Bank Offering 2.78% APY 60-Month CD
- November 21, 2011 - Premier Federal Credit Union Offering 2% APY on 24-Month CD
- November 14, 2011 - Institution for Savings of Newburyport Offering 3 Year CD at 2.50% APY
- November 7, 2011 - State Savings Bank of Rake, IA Offering 3.82% APY FIRA
- October 31, 2011 - First Choice Bank Offering 2.80% APY 5-Year CD
- October 24, 2011 - First National Bank of St. Ignace Offering 12-Month Flex CD at 1.51% APY
- Oct 17, 2011 - Weekly Rate Deal - Navy Federal Credit Union Offering 3% APY 12-Month CD
- Oct 7, 2011 - Farmers & Traders Bank Takes Weekly Rate Deal for 3% APY 60-Month CD
Check back next Monday for a new bank deal. Email any deals you know about to ratedeal (at) bestcashcow.com. Feel free to also share them below. If you're a bank and have a great deal not listed on BestCashCow, register for access and add the deal to the site.