Redstone FCU 2.52% APY savings up to $2,500
DCU 6.17% APY savings up to $1,000
BECU 2.02% APY checking up to $500, 4.07% APY savings up to $500
WyHy 3% APY checking up to $15,000. Not sure on membership requirement. Maybe hard pull TU?
Adding to the responses already noted, I would consider credit unions that will either give you a generally better customer service experience (based upon feedback you may be privy to from friends and family) and/or offer a specific product that will benefit you in working toward your personal goals. This might mean a credit product that works in with the travel/cashback system you are striving for, a great savings rate not achievable with a major bank, or maybe a mortgage/auto lending product that presents a positive value.
Examples:
1) I joined PenFed because of the combination of a better than big bank premium savings account (at the time offering 1.6%, now at 1.4%), and excellent credit cards (Platinum Rewards with a 5x gas category, and Power Cash with 2% cashback meeting the Honors Advantage .5% bonus for having an Access America checking account). So a win-win on a second stash account for some of my savings and great credit cards.
2) I joined Provident because it was available for my area when I used to work for an eligible company, and they have a 2% checking account (with spend & deposit req's) and a decent credit product. Also great with my auto loans in the past.
3) I wish I could join Nusenda or Vantage West, but I don't live in their service areas and don't meet eligibility. I would specifically opt for their credit products that would add to my 5% category rotators.
So it really comes down to whether or not you are pursuing value that a credit union may have for your needs/goals, versus just applying for the sake of joining a bunch of them.
@PullingMeSoftly wrote:Adding to the responses already noted, I would consider credit unions that will either give you a generally better customer service experience (based upon feedback you may be privy to from friends and family) and/or offer a specific product that will benefit you in working toward your personal goals. This might mean a credit product that works in with the travel/cashback system you are striving for, a great savings rate not achievable with a major bank, or maybe a mortgage/auto lending product that presents a positive value.
Examples:
1) I joined PenFed because of the combination of a better than big bank premium savings account (at the time offering 1.6%, now at 1.4%), and excellent credit cards (Platinum Rewards with a 5x gas category, and Power Cash with 2% cashback meeting the Honors Advantage .5% bonus for having an Access America checking account). So a win-win on a second stash account for some of my savings and great credit cards.
2) I joined Provident because it was available for my area when I used to work for an eligible company, and they have a 2% checking account (with spend & deposit req's) and a decent credit product. Also great with my auto loans in the past.
3) I wish I could join Nusenda or Vantage West, but I don't live in their service areas and don't meet eligibility. I would specifically opt for their credit products that would add to my 5% category rotators.
So it really comes down to whether or not you are pursuing value that a credit union may have for your needs/goals, versus just applying for the sake of joining a bunch of them.
Thank you @pullingmesoftly, I did a bit of research today on local CU's, Suncoast, Tropic Financial and IBM are all in my area. I am going to check their rates for Savings and I want to build a relationship prior to app'g down the road, since I am in the garden
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@Neiltyson wrote:Hey did you fund the langley savings account with credit card? Was it coded as cash advance?
No it doesn't code as a cash advance. Use a MasterCard to insure it doesn't, as Visa or Amex may flag it as a CA.
By the way, USAA considers itself a financial institution. Not a CU or a bank.
Maybe a mixture of both that offers insurance?
@ChazzieT wrote:
@AllZero wrote:Redstone FCU 2.52% APY savings up to $2,500
DCU 6.17% APY savings up to $1,000
BECU 2.02% APY checking up to $500, 4.07% APY savings up to $500
WyHy 3% APY checking up to $15,000. Not sure on membership requirement. Maybe hard pull TU?
While the APR's I'm listing are from before the last FED Rate Cut, these CU's are still offering better than average APR's and will likely go back to these numbers (or close to them) when the Prime Rate goes up again:
- PMCU, 3% on $2000 ($5 donation to a charity that the credit union pays for you)
- Blue FCU, 5% on $1000 ($5 donation to the Blue Foundation)
- St Mary's Bank, 4% on $1000 [5% on 1st $500, 3% on $501-$999] (open membership, this is actually a credit union despite the name)
- Patelco CU, 3% on $2000 (free to join, must call, sometimes has a $50 bonus)
I would also like to add that just because a CU doesn't have any credit products that interest you right now, doesn't mean they won't in the future. Since membership criteria can easily change, if there is ANYTHING about a cu that you like, I would say join as soon as you can, even if you only meet the minimum requirements to keep your membership active. If they change the elligibility in future, it will not cause your membership to close. This way, when they announce that 14% cash back unicorn card and immediately limit their eligibility to 2 employers in South Carolina, you'll be able to app for the card, since you're already a member.
Excellent advice @ChazzieT , I am going to do some more research on membership requirments and join at least one more, so that I am set up with some good CUs for down the road, when the smoke clears.