Minnesota

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Andover, Minnesota Credit Union Savings Rates

You are viewing savings rates from credit unions in Andover, Minnesota

 

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.

Andover, MN - December 11, 2024

Savings Account National Average Rate: 0.45% ?

Credit Unions APY MIN

Rate History: 2.32% → 4.75%

12 Month Introductory Rate

Rate History: 3.50% → 4.00% → 3.75%

| Mar 5, 2020

Very easy to open A CD or M&M account. They use Transunion to verify credit so just thaw your freeze for A day or 2 and your good to go. I was helped by Holly and Natalie and had no issues at the Cambridg... Read More

Rate History: 3.50% → 3.25%

| Mar 5, 2020

Very easy to open A CD or M&M account. They use Transunion to verify credit so just thaw your freeze for A day or 2 and your good to go. I was helped by Holly and Natalie and had no issues at the Cambridg... Read More

Rate History: 2.15% → 3.15%

Expedition


Restrictions

2.02%

1.76%
0.05%

$100,000

$50,000
$2,500
Learn More

| Aug 7, 2020

We have been members for over 40 years. Now that we are retired, we spend a lot of time in Turkey. We use our credit card from Trustone, but often the merchant will not accept it. They try to run it thr... Read More

Diversified


Restrictions

0.75%

$25,000

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Firefly


Restrictions

0.50%

$25,000

Learn More

| Apr 9, 2016

US Federal changed its name to Firefly Read More

Smw Financial


Restrictions

0.40%

$25,000

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0.40%

$25,000

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Topline


Restrictions

0.40%

$25,000

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0.40%

$2,500

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0.35%

$25,000

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0.35%

$2,500

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Novation


Restrictions

0.35%

$2,500

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Sharepoint


Restrictions

0.30%

$10,000

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Firefly


Restrictions

0.30%

$25,000

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| Apr 9, 2016

US Federal changed its name to Firefly Read More

0.30%

$25,000

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Smw Financial


Restrictions

0.30%

$10,000

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0.30%

$10,000

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Minnco


Restrictions

0.30%

$25,000

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| Oct 27, 2021

Incompetent and I am annoyed! I financed an ATV thru Minnco. A year into the loan. I started to receive threading letters to prove I had insurance. Which I had from Progressive since day 1. After 3 calls ... Read More

City & County


Restrictions

0.30%

$25,000

Learn More

| Mar 13, 2019

I am not a member of this credit union, but I am currently holding an account there as the personal rep of my sister's estate. She was a member there, a recent County retiree. I am writing on her behalf. ... Read More

Diversified


Restrictions

0.30%

$25,000

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Hiway


Restrictions

0.30%

$25,000

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Topline


Restrictions

0.30%

$10,000

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Star Usa


Restrictions

0.25%

$50,000

Learn More

| Aug 31, 2020

Great rates and fast loans Read More

0.25%

$10,000

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Smw Financial


Restrictions

0.25%

$2,500

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0.25%

$2,500

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City & County


Restrictions

0.25%

$2,500

Learn More

| Mar 13, 2019

I am not a member of this credit union, but I am currently holding an account there as the personal rep of my sister's estate. She was a member there, a recent County retiree. I am writing on her behalf. ... Read More

0.25%

$2,500

Learn More

Wings Financial


Restrictions

0.25%

0.20%

$100,000

$50,000
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Building Trades


Restrictions

0.24%

$10,000

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Edu


Restrictions

0.20%

$0

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0.20%

$2,500

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Minnco


Restrictions

0.20%

$10,000

Learn More

| Oct 27, 2021

Incompetent and I am annoyed! I financed an ATV thru Minnco. A year into the loan. I started to receive threading letters to prove I had insurance. Which I had from Progressive since day 1. After 3 calls ... Read More

Diversified


Restrictions

0.20%

$2,500

Learn More

Hiway


Restrictions

0.20%

$2,500

Learn More

Topline


Restrictions

0.20%

$2,500

Learn More

Unity One


Restrictions

0.20%

$10,000

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Building Trades


Restrictions

0.19%

$2,500

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Star Usa


Restrictions

0.15%

$2,500

Learn More

| Aug 31, 2020

Great rates and fast loans Read More

Financial One


Restrictions

0.15%

$25,000

Learn More

City & County


Restrictions

0.15%

$2,500

Learn More

| Mar 13, 2019

I am not a member of this credit union, but I am currently holding an account there as the personal rep of my sister's estate. She was a member there, a recent County retiree. I am writing on her behalf. ... Read More

Hiway


Restrictions

0.15%

$2,500

Learn More

Novation


Restrictions

0.15%

$2,500

Learn More

0.15%

$2,500

Learn More

0.15%

$25,000

Learn More

Star Usa


Restrictions

0.10%

$10

Learn More

| Aug 31, 2020

Great rates and fast loans Read More

Financial One


Restrictions

0.10%

$2,500

Learn More

Firefly


Restrictions

0.10%

$2,500

Learn More

| Apr 9, 2016

US Federal changed its name to Firefly Read More

Anoka Hennepin


Restrictions

0.10%

$10,001

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0.10%

$2,500

Learn More

Minnco


Restrictions

0.10%

$2,500

Learn More

| Oct 27, 2021

Incompetent and I am annoyed! I financed an ATV thru Minnco. A year into the loan. I started to receive threading letters to prove I had insurance. Which I had from Progressive since day 1. After 3 calls ... Read More

Sharepoint


Restrictions

0.10%

$2,500

Learn More

Affinity Plus


Restrictions

0.10%

$0

Learn More

| Mar 5, 2020

Very easy to open A CD or M&M account. They use Transunion to verify credit so just thaw your freeze for A day or 2 and your good to go. I was helped by Holly and Natalie and had no issues at the Cambridg... Read More

Heartland


Restrictions

0.10%

$10,000

Learn More

| Aug 7, 2020

We have been members for over 40 years. Now that we are retired, we spend a lot of time in Turkey. We use our credit card from Trustone, but often the merchant will not accept it. They try to run it thr... Read More

0.10%

$2,500

Learn More

Star Choice


Restrictions

0.10%

$25,000

Learn More

0.10%

$2,500

Learn More

Unity One


Restrictions

0.10%

$2,500

Learn More

Building Trades


Restrictions

0.09%

$2,500

Learn More

Anoka Hennepin


Restrictions

0.08%

$2,500

Learn More

Topline


Restrictions

0.06%

$2,500

Learn More

Star Usa


Restrictions

0.05%

$5

Learn More

| Aug 31, 2020

Great rates and fast loans Read More

Anoka Hennepin


Restrictions

0.05%

$2,500

Learn More

Sharepoint


Restrictions

0.05%

$5

Learn More

Financial One


Restrictions

0.05%

$2,500

Learn More

Firefly


Restrictions

0.05%

$2,500

Learn More

| Apr 9, 2016

US Federal changed its name to Firefly Read More

0.05%

$2,500

Learn More

Heartland


Restrictions

0.05%

$2,500

Learn More

Star Choice


Restrictions

0.05%

$2,500

Learn More

Electrus


Restrictions

0.05%

$2,500

Learn More

Carpenters


Restrictions

0.05%

$2,500

Learn More

Unity One


Restrictions

0.05%

$2,500

Learn More

Smw Financial


Restrictions

0.02%

$2,500

Learn More

Edu


Restrictions

0.01%

$1

Learn More

Anoka Hennepin


Restrictions

0.01%

$2,001

Learn 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.

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