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So I did some research online, I was looking for high interest SAVINGS 4% or more. The credit unions below are open to anybody. Any more banks or CU? Im looking for accounts that DO NOT require debit transations.
DCU
- 6% interest on savings up to $1,000
- $5 per month in interest
- soft pull
BECU:
- 6% interest on savings up to $500 then blended rate
- 4% interest on checking up to $500 then blended rate
- $4 per month in interest
- Out of state eligibility via North West CU Foundation
(https://ficoforums.myfico.com/t5/Personal-Finance/BECU-Eligibility-Question/td-p/5465798)
*some members had issues with eligibility
- soft pull
St Marrys Bank
- $2 per month in interest
- no fees but must deposit $25 per month and limitted to one withdraw
Premier Members CU
- 4% interest up to $2,000* then blended rate
- $6 per month in interest
- soft or hard pull
Credit Union of New Jersey
- 3.6% interest on savings up to $1,000*
- $3 per month in interest
- Eligibility via Credit Union of New Jersey Foundation
*Advertised as 7.5% interest on savings up to $500 but you have to keep $1,000 to avoid $10/fee so essencially 3.6%
Blue FCU
- 5% interest on savings up to $1,000*
- $4 per month in interest
*0% interest if balance is over $1,000 so if you keep $1,001, you earn $0.00 per month
PMCU is for their money market account. Thanks for the heads up, I was aware of the 4% APY checking but that has caveats. Maybe I’ll think about opening an account with them since they’re local-ish.
https://www.pmcu.org/personal/checking-and-savings/money-market/
I would put an asterisk next to BECU since they really don’t like out of state members and will tell you as much when you call them.
@Anonymous wrote:PMCU is for their money market account. Thanks for the heads up, I was aware of the 4% APY checking but that has caveats. Maybe I’ll think about opening an account with them since they’re local-ish.
https://www.pmcu.org/personal/checking-and-savings/money-market/
I would put an asterisk next to BECU since they really don’t like out of state members and will tell you as much when you call them.
Yup . I updated BECU with a link to the thread in here.
@Anonymous wrote:PMCU is for their money market account. Thanks for the heads up, I was aware of the 4% APY checking but that has caveats. Maybe I’ll think about opening an account with them since they’re local-ish.
https://www.pmcu.org/personal/checking-and-savings/money-market/
I would put an asterisk next to BECU since they really don’t like out of state members and will tell you as much when you call them.
Oh, I missed that one....sweet!! Doesn't look like there's any catch then, right? Ugh, I have so many bank accounts lol.
@KLEXH25 wrote:
@Anonymous wrote:PMCU is for their money market account. Thanks for the heads up, I was aware of the 4% APY checking but that has caveats. Maybe I’ll think about opening an account with them since they’re local-ish.
https://www.pmcu.org/personal/checking-and-savings/money-market/
I would put an asterisk next to BECU since they really don’t like out of state members and will tell you as much when you call them.
Oh, I missed that one....sweet!! Doesn't look like there's any catch then, right? Ugh, I have so many bank accounts lol.
On the surface it looks okay but they bury their disclosures in a link at the very bottom of the page and I don’t really like that...
https://www.pmcu.org/disclosures/
It’s a bit too much for me to be bothered with reading right now as the member service agreement is a whopping 38 pages of legalese...
Thanks @Green456 for info. My impressions:
BECU:
- 6% interest on savings up to $500
- 4% interest on checking* up to $500
- $4 per month in interest
- Eligibility via North West CU Foundation (few members had issues)
- As noted they really don't like out of state members, and doesn't seem to me worth the bother for 4 bucks a month
Blue FCU
- 5% interest on savings up to $1,000
- $4 per month in interest
- Very, very sensitive to Chex inquiries, reportedly more than 3 inquiries in the last 6 months gets you denied. And again, worth the bother for 4 bucks a month?
Credit Union of New Jersey
- 7.5% interest on savings up to $500
- $3 per month in interest
- Looks like you have to keep $1,000 to avoid $10/fee??? Two games I won't play is the debit card usage requirement or minimum balance.
DCU
- 6% interest on savings up to $1,000
- $5 per month in interest
- I've been with DCU since Fall 2017, very easy to join ($5 donation required if out of their geo location) and a nice rainy day fund
Premier Members CU
- 4% interest up to $2,000
- $8 per month in interest
- I've also been with them since 2017, very easy to join ($5 donation required if out of their geo location) and a nice rainy day fund. Their checking account has too many requirements to be worth it for me. As noted check Doctor of Credit for a referral code, they & you get $50 each .
Premier Members CU
- 4% interest up to $2,000
- $8 per month in interest
- I've also been with them since 2017, very easy to join ($5 donation required if out of their geo location) and a nice rainy day fund. Their checking account has too many requirements to be worth it for me. As noted check Doctor of Credit for a referral code, they & you get $50 each .
Was that hard or soft pull for you. And thank you on the input on the other CUs.