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Compensation may impact the order in which rates appear.
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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.
HORRIBLE SERVICE. My son's campus checking account was hacked and over $9000 was stolen. Fraud department was impossible to reach and we waited on phone several days for over 2 hours at a time. They too...
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Anyone is better than dealing with these guys! It's amazing how they work.
And I've had loans off and on for 30 years. Their website and support are horrible. Their ability to track and appropriatel...
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During my membership with First Entertainment Credit Union, I experienced a less than optimal situation. The treatment I received as an employee was unsatisfactory, characterized by managerial inefficiency...
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Let me start by saying, this is a garbage institution. They do not carry cash at all. You have to go to another bank to withdraw the cash from your own account. What is the point of having an account here?...
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During my membership with First Entertainment Credit Union, I experienced a less than optimal situation. The treatment I received as an employee was unsatisfactory, characterized by managerial inefficiency...
Read More
Let me start by saying, this is a garbage institution. They do not carry cash at all. You have to go to another bank to withdraw the cash from your own account. What is the point of having an account here?...
Read More
Let me start by saying, this is a garbage institution. They do not carry cash at all. You have to go to another bank to withdraw the cash from your own account. What is the point of having an account here?...
Read More
During my membership with First Entertainment Credit Union, I experienced a less than optimal situation. The treatment I received as an employee was unsatisfactory, characterized by managerial inefficiency...
Read More
When a Credit Union targets homeless people and steals money from a homeless persons account without their consent is disgusting. I am currently homeles and have noticed unauthorized charges going to my ac...
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HORRIBLE SERVICE. My son's campus checking account was hacked and over $9000 was stolen. Fraud department was impossible to reach and we waited on phone several days for over 2 hours at a time. They too...
Read More
When a Credit Union targets homeless people and steals money from a homeless persons account without their consent is disgusting. I am currently homeles and have noticed unauthorized charges going to my ac...
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You should be embarrassed for the VERY LOW interest you are paying your membership on savings accounts!!! Why would you do to this to your members. Surprised you haven’t been losing these accounts to you...
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I joined in PENFED in Spring Of 2023 after 15 yrs of belonging to one of the banking giants. I found my accounts dwindling fast unexplained decreases. I decided to close the account but had to return a mer...
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Let me start by saying, this is a garbage institution. They do not carry cash at all. You have to go to another bank to withdraw the cash from your own account. What is the point of having an account here?...
Read More
During my membership with First Entertainment Credit Union, I experienced a less than optimal situation. The treatment I received as an employee was unsatisfactory, characterized by managerial inefficiency...
Read More
I joined in PENFED in Spring Of 2023 after 15 yrs of belonging to one of the banking giants. I found my accounts dwindling fast unexplained decreases. I decided to close the account but had to return a mer...
Read More
When a Credit Union targets homeless people and steals money from a homeless persons account without their consent is disgusting. I am currently homeles and have noticed unauthorized charges going to my ac...
Read More
Anyone is better than dealing with these guys! It's amazing how they work.
And I've had loans off and on for 30 years. Their website and support are horrible. Their ability to track and appropriatel...
Read More
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.
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.
SAVINGS & CD CALCULATOR
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