You are viewing savings rates in Birmingham, Alabama

Birmingham, Alabama Credit Union Savings Rates 2018

Credit Unions can offer savings and money market rates that are competitive not only with local banks, but also sometimes with the best rates at online savings banks. The table below lists the best rates at credit unions near you. If you click on the credit union’s name, you’ll be taken to more information about its locations and operations.

Birmingham, AL - November 19, 2018

Savings Account National Average Rate: 0.20% ?

Credit UnionS APY Vs.
Nat'l
Av.
MIN MIN?
1.76% 8.98x $50 5114.76
1.50% 7.65x $1,000 5032.29
Mtc
Restrictions
1.31% 6.68x $15,000 5019.51
Redstone
Restrictions
1.11% 5.66x $5,000 5181.88
Coosa Pines
Restrictions
1.05% 5.36x $25,000 5121.60
Redstone
Restrictions
1.00% 5.10x $2,000 5181.88
Heritage South
Restrictions
1.00% 5.10x $25,001 5115.79
1.00% 5.10x $100 5151.23
Mtc
Restrictions
1.00% 5.10x $15,000 5019.51
Service 1
Restrictions
0.90% 4.59x $20,000 5125.57
Mtc
Restrictions
0.90% 4.59x $2,000 5019.51
Redstone
Restrictions
0.85% 4.34x $5 5181.88
Heritage South
Restrictions
0.80% 4.08x $10,001 5115.79
0.80% 4.08x $25,000 5087.12
1st Resource
Restrictions
0.75% 3.83x $5 5150.44
0.75% 3.83x $10,000 5087.12
Service 1
Restrictions
0.70% 3.57x $2,000 5125.57
America's First
Restrictions
0.70% 3.57x $25,000 5143.08
0.70% 3.57x $2,500 5087.12
0.65% 3.32x $25,000 5191.28
Heritage South
Restrictions
0.60% 3.06x $2,500 5115.79
Coosa Pines
Restrictions
0.60% 3.06x $2,500 5121.60
Five Star
Restrictions
0.60% 3.06x $2,000 5013.95
Tyndall
Restrictions
0.60% 3.06x $25,000 5015.86
America's First
Restrictions
0.60% 3.06x $10,000 5143.08
Pen Air
Restrictions
0.60% 3.06x $25,000 5105.13
0.55% 2.81x $10,000 5191.28
Legacy Community
Restrictions
0.55% 2.81x $25,000 5149.61
Avadian
Restrictions
0.55% 2.81x $25,000 5136.49
America's First
Restrictions
0.55% 2.81x $2,500 5143.08
Alabama
Restrictions
0.51% 2.60x $25,000 5175.74
Auburn University
Restrictions
0.51% 2.60x $5 5059.49
Guardian
Restrictions
0.50% 2.56x $25,000 5090.86
0.50% 2.55x $25 5109.39
Singing River
Restrictions
0.50% 2.55x $25,000 5127.49
Social Security
Restrictions
0.50% 2.55x $10,000 5151.47
Family Security
Restrictions
0.50% 2.55x $2,000 5194.12
0.50% 2.55x $100 5150.54
Riverfall
Restrictions
0.50% 2.55x $25,000 5177.51
0.50% 2.55x $5,000 5150.49
Alabama
Restrictions
0.46% 2.35x $2,500 5175.74
0.45% 2.30x $1,000 5191.28
Listerhill
Restrictions
0.45% 2.30x $5 5226.70
0.45% 2.30x $2,500 5150.49
Alabama Central
Restrictions
0.45% 2.30x $2,501 5149.61
Alabama Teachers
Restrictions
0.45% 2.30x $20,000 5128.72
Mutual Savings
Restrictions
0.45% 2.30x $25,001 5144.80
Tyndall
Restrictions
0.45% 2.30x $10,000 5015.86
Jm Associates
Restrictions
0.45% 2.30x $2,500 5131.81
Riverfall
Restrictions
0.45% 2.30x $10,000 5177.51
Avadian
Restrictions
0.45% 2.30x $10,000 5136.49
Navigator Cu
Restrictions
0.45% 2.30x $25,001 5131.92
Navigator Cu
Restrictions
0.43% 2.17x $10,001 5131.92
Guardian
Restrictions
0.40% 2.05x $10,000 5090.86
Singing River
Restrictions
0.40% 2.04x $10,000 5127.49
0.40% 2.04x $100 5230.84
Social Security
Restrictions
0.40% 2.04x $2,500 5151.47
Fort Mcclellan
Restrictions
0.40% 2.04x $25 5109.34
0.40% 2.04x $2,501 5177.53
Family Security
Restrictions
0.40% 2.04x $25 5194.12
Alabama One
Restrictions
0.40% 2.04x $1,001 5174.75
Navigator Cu
Restrictions
0.40% 2.04x $2,500 5131.92
0.40% 2.04x $1,500 5031.90
Avadian
Restrictions
0.40% 2.04x $25,000 5136.49
0.40% 2.04x $100 5150.49
Pen Air
Restrictions
0.40% 2.04x $2,500 5105.13
Navigator Cu
Restrictions
0.35% 1.79x $1 5131.92
Kinetic
Restrictions
0.35% 1.79x $20,000 5036.14
Singing River
Restrictions
0.35% 1.79x $2,500 5127.49
Florence
Restrictions
0.35% 1.79x $2,500 5233.02
Acipco
Restrictions
0.35% 1.79x $1,000 5153.16
Alabama Teachers
Restrictions
0.35% 1.79x $10,000 5128.72
Mutual Savings
Restrictions
0.35% 1.79x $2,500 5144.80
Tyndall
Restrictions
0.35% 1.79x $1,000 5015.86
Jm Associates
Restrictions
0.35% 1.79x $100 5131.81
Kinetic
Restrictions
0.30% 1.53x $10,000 5036.14
Florence
Restrictions
0.30% 1.53x $200 5233.02
Social Security
Restrictions
0.30% 1.53x $100 5151.47
New Horizons
Restrictions
0.30% 1.53x $25,000 5129.55
Valley
Restrictions
0.30% 1.53x $2,500 5231.22
0.30% 1.53x $100 5177.76
Alatrust
Restrictions
0.30% 1.53x $25,000 5146.40
Avadian
Restrictions
0.30% 1.53x $10,000 5136.49
Pen Air
Restrictions
0.30% 1.53x $25 5105.13
0.26% 1.33x $25 5087.59
Alabama
Restrictions
0.26% 1.33x $25 5175.74
Star Usa
Restrictions
0.25% 1.28x $50,000 -
Kinetic
Restrictions
0.25% 1.28x $2,500 5036.14
0.25% 1.28x $1 5087.12
Singing River
Restrictions
0.25% 1.28x $100 5127.49
0.25% 1.28x $5 5083.46
Max
Restrictions
0.25% 1.28x $2,500 5099.08
Gulf Winds
Restrictions
0.25% 1.28x $5 5108.65
Acipco
Restrictions
0.25% 1.28x $25 5153.16
0.25% 1.28x $25 5149.92
0.25% 1.28x $100 5151.23
0.25% 1.28x $25,000 5155.21
0.25% 1.28x $1,000 5034.31
Valley
Restrictions
0.25% 1.28x $25 5231.22
Winsouth
Restrictions
0.25% 1.28x $25 5130.51
Alatrust
Restrictions
0.25% 1.28x $10,000 5146.40
Aod
Restrictions
0.25% 1.28x $25 5114.18
Dch
Restrictions
0.25% 1.28x $25,000 5174.90
Alabama One
Restrictions
0.25% 1.28x $25 5174.75
Riverfall
Restrictions
0.25% 1.28x $25 5177.51
Guardian
Restrictions
0.25% 1.28x $2,500 5090.86
Mtc
Restrictions
0.25% 1.28x $1,000 5019.51
0.25% 1.28x $25 5177.53
Fme
Restrictions
0.24% 1.22x $2,000 5110.73
0.20% 1.02x $10,000 5155.21
Heritage South
Restrictions
0.20% 1.02x $1,000 5115.79
New Horizons
Restrictions
0.20% 1.02x $10,000 5129.55
Guardian
Restrictions
0.20% 1.02x $100 5090.86
Family Savings
Restrictions
0.20% 1.02x $2,001 5128.22
Alatrust
Restrictions
0.20% 1.02x $2,500 5146.40
America's First
Restrictions
0.20% 1.02x $100 5143.08
Legacy Community
Restrictions
0.20% 1.02x $2,500 5149.61
Alabama Teachers
Restrictions
0.20% 1.02x $1,000 5128.72
Coosa Pines
Restrictions
0.20% 1.02x $1 5121.60
Eco
Restrictions
0.20% 1.02x $2,500 5151.21
Dch
Restrictions
0.20% 1.02x $25 5174.90
0.20% 1.02x $5 5031.90
Star Usa
Restrictions
0.15% 0.77x $2,500 -
Service 1
Restrictions
0.15% 0.77x $250 5125.57
0.15% 0.77x $200 5191.28
Alatrust
Restrictions
0.15% 0.77x $101 5146.40
Legacy Community
Restrictions
0.15% 0.77x $2,500 5149.61
0.15% 0.77x $2,500 5155.21
Fme
Restrictions
0.15% 0.77x $5 5110.73
0.15% 0.77x $5 5057.31
Eco
Restrictions
0.15% 0.77x $100 5151.21
Avadian
Restrictions
0.15% 0.77x $2,500 5136.49
0.13% 0.66x $1,000 5089.11
Four Seasons
Restrictions
0.11% 0.54x $2,500 5057.86
Star Usa
Restrictions
0.10% 0.51x $10 -
Four Seasons
Restrictions
0.10% 0.51x $100 5057.86
0.10% 0.51x $25 5151.05
0.10% 0.51x $101 5155.21
Mutual Savings
Restrictions
0.10% 0.51x $25 5144.80
Kinetic
Restrictions
0.10% 0.51x $25 5036.14
Five Star
Restrictions
0.10% 0.51x $1 5013.95
New Horizons
Restrictions
0.10% 0.51x $25 5129.55
0.10% 0.51x $25 5151.30
Mobile Educators
Restrictions
0.10% 0.51x $25 5128.84
Star Usa
Restrictions
0.05% 0.26x $5 -
0.05% 0.26x $25 5150.13
0.05% 0.26x $25 5151.13
All rates listed are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION


Credit Union Savings Accounts 2018

Credit union savings accounts (also sometimes called share certificates or money market accounts) are savings vehicles that are offered by credit unions. Many Americans enjoy performing their banking transactions with credit unions as they are technically member-owned and may have branches close by. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions do have limited fields of membership – you must be a resident of a certain area or have a family member who was employed by a certain company. Other credit unions will have fields of membership that are virtually open ended (eg. must love life, etc.). If you find a credit union that interests you because of a rate or a service or a location, but are unsure if you qualify for membership, it is often worth reaching out to the credit union to discuss the parameters of the field of membership and whether there may be other ways in which you may qualify for membership.

Unlike online banks and even many local banks, all but the largest credit unions often lack robust online banking features. If you are interested in online banking, be sure to ask your credit unions about the online and mobile services they offer.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS


Why are credit union rates sometimes better than those from local and online banks?

The core difference between banks and credit unions is true regardless of size: Credit unions are nonprofits owned by the members, while banks are for-profit organizations. Credit unions can therefore sometimes pass along their profits in the form of lower rates (or better loan terms). Banks have some flexibility when competition forces it, but have to deliver an expected return on capital to their owners.

Is customer service better at credit unions that local banks or online banks?

Credit unions have long surpassed commercial banks for customer satisfaction. But as membership grows, their lead is shrinking, at least when compared with smaller banks. It’s also worth noting that in recent years, several online-only banks have earned high marks for their customer-friendly service options and their transparent discussions of fees and rates.  You may enjoy the local interaction with a credit union, but unless you are also getting a competitive rate, you may find that you best bet is to also have an online bank where you keep most of you money.

Is there any difference between a share certificate offered by a credit union and a savings or money market account offered by a bank?

The difference is mainly one of terminology, as increasingly is the difference between savings and money market accounts. Be sure to understand how to access you account. Look for no fees so long as certain balances are maintained, easy liquidity and ability to transfer your money to your accounts at other institutions, including ACH transfers to online banks.

Do Credit Unions lack technology that banks have?

As technology becomes a larger part of our everyday lives, customers rely on the ability to bank online or through a mobile device, such as an iPhone. Although credit unions are making the effort to keep pace with new financial technologies, they are still trailing banks (especially the leading online banks) on this front. Several third party platforms for online banking and mobile banking are increasingly being adopted throughout the banking industry, and credit unions will likely begin to adopt these as well, which should narrow or remove the gap between them and banks.

Is my money any less safe?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Should I consider time deposits?

Time deposits are the credit union’s term for certificates of deposit, but, aside from slightly different terminology, are virtually the same product. Time deposits have less liquidity, but if you are unlikely to require access to your cash for some time, you may be able to significantly augment your rate of return and the growth of your capital. Since unforeseen circumstances do arise, it is important to understand the early withdrawal fees that may even eat into your principal, and early withdrawal is often entirely at the credit union’s discretion. BestCashCow compiles all rates of all credit unions near you. Access this information here. You should also familiarize yourself with our Savings Booster Calculator in order to understand the importance of compounding interest at higher rates on your savings over time.

5 POINT CHECKLIST OF THINGS THAT MAKE CREDIT UNIONS GREAT

  • Rates are often better than savings and CD rates at local banks. Borrowing rates are sometimes lower too.
  • Members are Owners of a nonprofit. When you open an account at a credit union, your account is actually a share and provides you voting rights. Since credit unions are run as non-profits, you aren’t going to get appreciation or dividends from your ownership. Instead, these institutions have the ultimate goal of providing their members better rates on loans and financial products. When a credit union makes a profit, it is used to provide better opportunities to the community that it serves.
  • Clerks work with you. Since credit unions are small and serve their owners, they try hard to keep them happy. Many credit unions have fans for life after a clerk stays late to complete loan documents, and giving pointers about avoiding fees.
  • Credit unions provide low-income and financially distressed individuals the chance to qualify for financing.
  • Credit unions often run special programs that enable people to save for the holidays (such as Christmas Clubs) or to help finance the cost of higher education and university.

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