Best Credit Union Savings and Money Market Rates in Fairfax, Virginia, VA August 2, 2025

You are viewing savings rates from credit unions in Fairfax, Virginia

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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.

Fairfax, VA - August 2, 2025

Savings Account National Average Rate: 0.45% ^?

Credit Unions	APY	MIN
HANSCOM Hanscom Branch Restrictions	3.75% 3.50% 2.50% 1.50% 0.50%	$500,000 $100,000 $50,000 $25,000 $1	Learn More Add Review
STATE DEPARTMENT Sdfcu Arlington Branch Restrictions	3.56% 2.02% 1.51% 1.26%	$250,000 $100,000 $50,000 $25,000	Learn More Add Review
AGRICULTURE Park Center Branch Restrictions	3.50% 2.25% 2.00% 1.75% 0.00%	$0 $100,000 $50,000 $10,000 $2,500	Learn More Add Review
Rate History: 6.00% → 4.00% → 6.00% → 4.00% → 3.50%
ALLIANT Iadcu Branch Restrictions	3.10%	$100	Learn More
Gaius Gracchus \| Mar 22, 2024 Their CD rates are reasonable and their Visa rewards is very good at 2.5% on all purchases up to 10K/month. Their customer service is polite and helpful. However, their IT department must need some serio... Read More Reviews (5)
PENTAGON Pentagon Branch Restrictions	2.90%	$5	Learn More
Last change: ↓ 0.10% on February 10.
Rob \| Dec 25, 2023 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 Reviews (15)
APPLE Gainesville Branch Restrictions	2.75% 1.75% 1.55%	$1,000,000 $100,000 $2,500	Learn More Add Review
NAVY FEDERAL CREDIT UNION Navy Federal Credit Branch Restrictions	2.25% 2.05% 1.85% 1.65% 1.50% 1.10% 1.06% 0.95%	$1,000,000 $500,000 $250,000 $100,000 $50,000 $25,000 $10,000 $2,500	Learn More
Amanda Frank \| Feb 25, 2023 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 Reviews (19)
CORPORATE AMERICA FAMILY Herndon Branch Restrictions	2.02% 1.51% 1.26% 1.01% 0.90% 0.80% 0.70%	$250,000 $100,000 $50,000 $25,000 $10,000 $2,500 $1,000	Learn More Add Review
NASA Falls Church Branch Restrictions	2.00% 1.85% 1.75% 1.65%	$100,000 $50,000 $10,000 $0	Learn More Add Review
Rate History: 1.95% → 2.00%
NEXTMARK Fairfax County Branch Restrictions	1.80% 1.55% 1.30%	$100,000 $25,000 $10,000	Learn More Add Review
Rate History: 1.65% → 1.80%
NORTHROP GRUMMAN Chantilly Branch Restrictions	1.55%	$2,500	Learn More Add Review
Rate History: 1.70% → 1.55%
NORTHWEST Gainesville Branch Restrictions	1.46% 1.41% 0.64%	$1,000,000 $250,000 $0	Learn More Add Review
UNITED STATES SENATE Caraway Branch Restrictions	1.41% 1.36% 1.31% 1.26% 1.21% 1.16% 1.11% 1.06% 1.01%	$500,000 $250,000 $150,000 $100,000 $75,000 $40,000 $20,000 $10,000 $2,000	Learn More Add Review
Rate History: 1.77% → 1.87% → 1.82% → 1.41%
SIGNATURE Napus Branch Restrictions	1.35% 1.20% 1.10%	$50,000 $10,000 $500	Learn More Add Review
STATE DEPARTMENT Sdfcu Arlington Branch Restrictions	1.21%	$2,000	Learn More Add Review
COMMONWEALTH ONE Hec Branch Restrictions	0.85% 0.75% 0.65%	$50,000 $25,000 $0	Learn More Add Review
Rate History: 0.65% → 0.85%
DEPARTMENT OF THE INTERIOR Department Of The In Branch	0.85% 0.80% 0.75% 0.70% 0.65% 0.60% 0.51%	$100,000 $75,000 $50,000 $25,000 $10,000 $5,000 $1,000	Learn More Add Review
UNIFY FINANCIAL Chantilly, Va Branch Restrictions	0.75% 0.70% 0.65% 0.60%	$100,000 $50,000 $10,000 $2,500	Learn More
dapatton@pacbell.net \| May 12, 2016 19 what, years or months Read More Reviews (1)
NEXTMARK Fairfax County Branch Restrictions	0.50%	$500	Learn More Add Review
SIGNAL FINANCIAL Ashburn Branch Restrictions	0.50%	$25,000	Learn More Add Review
MARINE Marine Branch Restrictions	0.50%	$25,000	Learn More
Dev1ldog \| Mar 12, 2023 Is this credit union still open? If it is it’s not relevant to the military in general. I dropped this credit union for poor customer service, and poor loan and dividend rates. Just compare their rates... Read More Reviews (1)
NORTHROP GRUMMAN Chantilly Branch Restrictions	0.40%	$5	Learn More Add Review
Rate History: 0.45% → 0.40%
MARINE Marine Branch Restrictions	0.40%	$2,500	Learn More
Dev1ldog \| Mar 12, 2023 Is this credit union still open? If it is it’s not relevant to the military in general. I dropped this credit union for poor customer service, and poor loan and dividend rates. Just compare their rates... Read More Reviews (1)
INTOUCH Intouch Branch Restrictions	0.30%	$25,000	Learn More Add Review
STAR USA Restrictions	0.25%	$50,000	Learn More
RaShaun \| Aug 31, 2020 Great rates and fast loans Read More Reviews (1)
INTOUCH Intouch Branch Restrictions	0.25%	$5,000	Learn More Add Review
NAVY FEDERAL CREDIT UNION Navy Federal Credit Branch Restrictions	0.25%	$5	Learn More
Amanda Frank \| Feb 25, 2023 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 Reviews (19)
SIGNAL FINANCIAL Ashburn Branch Restrictions	0.25%	$10,000	Learn More Add Review
HEALTHCARE SYSTEMS Prince William Branch Restrictions	0.25%	$10,000	Learn More Add Review
MARINE Marine Branch Restrictions	0.25%	$2,500	Learn More
Dev1ldog \| Mar 12, 2023 Is this credit union still open? If it is it’s not relevant to the military in general. I dropped this credit union for poor customer service, and poor loan and dividend rates. Just compare their rates... Read More Reviews (1)
EDU Restrictions	0.20%	$0	Learn More Add Review
INTOUCH Intouch Branch Restrictions	0.20%	$1	Learn More Add Review
PARTNERS 1ST Partners 1st Branch Restrictions	0.20%	$10,000	Learn More Add Review
HEALTHCARE SYSTEMS Prince William Branch Restrictions	0.20%	$2,500	Learn More Add Review
JUSTICE Justice Branch Restrictions	0.20%	$25,000	Learn More Add Review
DEPARTMENT OF THE INTERIOR Department Of The In Branch	0.20% 0.15%	$1,500 $25	Learn More Add Review
STAR USA Restrictions	0.15%	$2,500	Learn More
RaShaun \| Aug 31, 2020 Great rates and fast loans Read More Reviews (1)
SIGNATURE Napus Branch Restrictions	0.15%	$100	Learn More Add Review
PENTAGON Pentagon Branch Restrictions	0.15% 0.05%	$100,000 $0	Learn More
Rob \| Dec 25, 2023 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 Reviews (15)
JUSTICE Justice Branch Restrictions	0.15%	$2,500	Learn More Add Review
NASA Falls Church Branch Restrictions	0.10%	$5	Learn More Add Review
STAR USA Restrictions	0.10%	$10	Learn More
RaShaun \| Aug 31, 2020 Great rates and fast loans Read More Reviews (1)
APPLE Gainesville Branch Restrictions	0.10%	$5	Learn More Add Review
UNIFY FINANCIAL Chantilly, Va Branch Restrictions	0.10%	$5	Learn More
dapatton@pacbell.net \| May 12, 2016 19 what, years or months Read More Reviews (1)
UNITED STATES SENATE Caraway Branch Restrictions	0.10%	$5	Learn More Add Review
Rate History: 0.15% → 0.10%
HANSCOM Hanscom Branch Restrictions	0.10%	$25	Learn More Add Review
SIGNAL FINANCIAL Ashburn Branch Restrictions	0.10%	$25,000	Learn More Add Review
PARTNERS 1ST Partners 1st Branch Restrictions	0.10%	$2,500	Learn More Add Review
PENTAGON Pentagon Branch Restrictions	0.10%	$10,000	Learn More
Rob \| Dec 25, 2023 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 Reviews (15)
HEALTHCARE SYSTEMS Prince William Branch Restrictions	0.10%	$2,500	Learn More Add Review
COMMONWEALTH ONE Hec Branch Restrictions	0.07% 0.05%	$2,500 $0	Learn More Add Review
STATE DEPARTMENT Sdfcu Arlington Branch Restrictions	0.05%	$0	Learn More Add Review
STAR USA Restrictions	0.05%	$5	Learn More
RaShaun \| Aug 31, 2020 Great rates and fast loans Read More Reviews (1)
INTOUCH Intouch Branch Restrictions	0.05%	$5	Learn More Add Review
CORPORATE AMERICA FAMILY Herndon Branch Restrictions	0.05%	$0	Learn More Add Review
SIGNAL FINANCIAL Ashburn Branch Restrictions	0.05%	$2,500	Learn More Add Review
NORTHWEST Gainesville Branch Restrictions	0.05%	$1	Learn More Add Review
JUSTICE Justice Branch Restrictions	0.05%	$2,500	Learn More Add Review
PARTNERS 1ST Partners 1st Branch Restrictions	0.03%	$2,500	Learn More Add Review
AGRICULTURE Park Center Branch Restrictions	0.02%	$100	Learn More Add Review
Rate History: 0.05% → 0.02%
EDU Restrictions	0.01%	$1	Learn More Add Review

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.

See rates for Local Banks →

Branches Info around Fairfax, Virginia

Branch	Street	City	State
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
ALLIANT Iadcu Iadcu Branch	45020 Aviation Dr	Dulles	VA
PENTAGON Pentagon Pentagon Branch	5775 Barclay Drive	Alexandria	VA
APPLE Gainesville Branch Gainesville Branch	14385 McGraws Corner Drive	Gainesville	VA
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA
NASA Falls Church Falls Church Branch	1130 W Broad St	Falls Church	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
NASA Falls Church Falls Church Branch	1130 W Broad St	Falls Church	VA
NEXTMARK Fairfax County Fairfax County Branch	3065-C Centreville Rd.	Herndon	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA
APPLE Gainesville Branch Gainesville Branch	14385 McGraws Corner Drive	Gainesville	VA
NASA Falls Church Falls Church Branch	1130 W Broad St	Falls Church	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
NASA Falls Church Falls Church Branch	1130 W Broad St	Falls Church	VA
NORTHROP GRUMMAN Chantilly Chantilly Branch	4801 Stonecroft Blvd	Chantilly	VA
NEXTMARK Fairfax County Fairfax County Branch	3065-C Centreville Rd.	Herndon	VA
APPLE Gainesville Branch Gainesville Branch	14385 McGraws Corner Drive	Gainesville	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
NORTHWEST Gainesville Branch Gainesville Branch	7500 Webb Dr	Gainesville	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
NORTHWEST Gainesville Branch Gainesville Branch	7500 Webb Dr	Gainesville	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
SIGNATURE Napus Napus Branch	12 Herbert Street	Alexandria	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
NEXTMARK Fairfax County Fairfax County Branch	3065-C Centreville Rd.	Herndon	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
SIGNATURE Napus Napus Branch	12 Herbert Street	Alexandria	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
SIGNATURE Napus Napus Branch	12 Herbert Street	Alexandria	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
COMMONWEALTH ONE Hec Hec Branch	7701 Telegraph Rd	Alexandria	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
UNIFY FINANCIAL Chantilly, Va Chantilly, Va Branch	4084 Airline Pkwy	Chantilly	VA
COMMONWEALTH ONE Hec Hec Branch	7701 Telegraph Rd	Alexandria	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
UNIFY FINANCIAL Chantilly, Va Chantilly, Va Branch	4084 Airline Pkwy	Chantilly	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
UNIFY FINANCIAL Chantilly, Va Chantilly, Va Branch	4084 Airline Pkwy	Chantilly	VA
COMMONWEALTH ONE Hec Hec Branch	7701 Telegraph Rd	Alexandria	VA
NORTHWEST Gainesville Branch Gainesville Branch	7500 Webb Dr	Gainesville	VA
UNIFY FINANCIAL Chantilly, Va Chantilly, Va Branch	4084 Airline Pkwy	Chantilly	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
NEXTMARK Fairfax County Fairfax County Branch	3065-C Centreville Rd.	Herndon	VA
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
SIGNAL FINANCIAL Ashburn Ashburn Branch	22001 Loudoun County Pkwy	Ashburn	VA
MARINE Marine Marine Branch	24165 Montezuma	Quantico	VA
NORTHROP GRUMMAN Chantilly Chantilly Branch	4801 Stonecroft Blvd	Chantilly	VA
MARINE Marine Marine Branch	24165 Montezuma	Quantico	VA
INTOUCH Intouch Intouch Branch	13600 EDS Drive	Herndon	VA
INTOUCH Intouch Intouch Branch	13600 EDS Drive	Herndon	VA
NAVY FEDERAL CREDIT UNION Navy Federal Credit Navy Federal Credit Branch	10980 Bulloch Drive	Manassas	VA
SIGNAL FINANCIAL Ashburn Ashburn Branch	22001 Loudoun County Pkwy	Ashburn	VA
HEALTHCARE SYSTEMS Prince William Prince William Branch	8640 Sudley Rd	Manassas	VA
MARINE Marine Marine Branch	24165 Montezuma	Quantico	VA
INTOUCH Intouch Intouch Branch	13600 EDS Drive	Herndon	VA
PARTNERS 1ST Partners 1st Partners 1st Branch	c/o GTSI Corp., 2553 Dulles View Dr.; Ste. 100	Herndon	VA
HEALTHCARE SYSTEMS Prince William Prince William Branch	8640 Sudley Rd	Manassas	VA
JUSTICE Justice Justice Branch	5175 Parkstone Drive Suite 200	Chantilly	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
DEPARTMENT OF THE INTERIOR Department Of The In Department Of The In Branch	12201 Sunrise Valley Dr MS 700	Reston	VA
SIGNATURE Napus Napus Branch	12 Herbert Street	Alexandria	VA
PENTAGON Pentagon Pentagon Branch	5775 Barclay Drive	Alexandria	VA
JUSTICE Justice Justice Branch	5175 Parkstone Drive Suite 200	Chantilly	VA
NASA Falls Church Falls Church Branch	1130 W Broad St	Falls Church	VA
APPLE Gainesville Branch Gainesville Branch	14385 McGraws Corner Drive	Gainesville	VA
UNIFY FINANCIAL Chantilly, Va Chantilly, Va Branch	4084 Airline Pkwy	Chantilly	VA
UNITED STATES SENATE Caraway Caraway Branch	2750 Eisenhower Ave	Alexandria	VA
HANSCOM Hanscom Hanscom Branch	MITRE Building 2, 7515 Colshire Drive	McLean	VA
SIGNAL FINANCIAL Ashburn Ashburn Branch	22001 Loudoun County Pkwy	Ashburn	VA
PARTNERS 1ST Partners 1st Partners 1st Branch	c/o GTSI Corp., 2553 Dulles View Dr.; Ste. 100	Herndon	VA
PENTAGON Pentagon Pentagon Branch	5775 Barclay Drive	Alexandria	VA
HEALTHCARE SYSTEMS Prince William Prince William Branch	8640 Sudley Rd	Manassas	VA
COMMONWEALTH ONE Hec Hec Branch	7701 Telegraph Rd	Alexandria	VA
STATE DEPARTMENT Sdfcu Arlington Branch Sdfcu Arlington Branch	3100 Clarendon Blvd	Arlington	VA
PENTAGON Pentagon Pentagon Branch	5775 Barclay Drive	Alexandria	VA
INTOUCH Intouch Intouch Branch	13600 EDS Drive	Herndon	VA
CORPORATE AMERICA FAMILY Herndon Herndon Branch	13075 Worldgate Dr	Herndon	VA
SIGNAL FINANCIAL Ashburn Ashburn Branch	22001 Loudoun County Pkwy	Ashburn	VA
NORTHWEST Gainesville Branch Gainesville Branch	7500 Webb Dr	Gainesville	VA
JUSTICE Justice Justice Branch	5175 Parkstone Drive Suite 200	Chantilly	VA
COMMONWEALTH ONE Hec Hec Branch	7701 Telegraph Rd	Alexandria	VA
PARTNERS 1ST Partners 1st Partners 1st Branch	c/o GTSI Corp., 2553 Dulles View Dr.; Ste. 100	Herndon	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA
AGRICULTURE Park Center Park Center Branch	3101 Park Center Dr	Alexandria	VA

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.