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CU's to join for Savings Rate now and possible Credit Products later!

ChazzieT
Frequent Contributor

CU's to join for Savings Rate now and possible Credit Products later!

Thought I would pull this together all in one place. Here is a list of Credit Unions that offer a ridiculously high APY on a portion of your savings account. I posted in credit cards because we've seen several CU's initiate a realy nice card and, at the same time, button up the abillity to join whether through policy change or by enforcing an existing policy that they had been lax about previously. These savings rates offer an incentive to join the CU now, even if they don't have a credit card you're interested in. If they come out with one later, you'll already be a member. This is savings acounts only and none of them listed require any crazy activity (debit swipes, high balances, multiple or high ACH/DD per month, etc). As people add to the thread, I will add to the original post with Additional CU's or DP's for the listed CU's. Most of these also offer a free FICO Score:


- Affinity FCU 2% on first $2500 (1.00% on next $2500)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

 

- Blue Credit Union 5% APY on first $1000 (.10% after)

 

- BECU 2.02% APY on first $500 (.02% after)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

 

- Credit Union of New Jersey 7.5% on first $500 (0.05% after to $10k)

 

- DCU 6.17% APY savings up to $1,000 (0.25% after)

 

- Meriwest CU 2.5% APY on first $5k, 1.5% APY on next $5k

 

Oregon Community Credit Union has their "Ignite" savings account - 5.25% APY on the first $500, 2.96% up to $2500 (3.45% blended on $2500 balance), 1% up to 5k (2.23% on blended 5k balance), and a couple more tiers after that.

 

- Patelco Credit Union 2% on first $2000 (1.00% on next $3k)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

 

- Premier Members Credit Union 2% on first $2000 (0.5% on next $3k) [This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

 

- Redstone FCU 2.00% APY savings up to $2,500 (0.10% after) [This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

 

- Service CU 5% APY on first $500 (0.25% after)[also has a holiday club account that is 3% APY for the first $3k]

 

- St. Mary's Bank CU 5% APY on first $500, 3% APY on next $500, (0.05% after) [Risk department does not like you setting up multiple accounts for ACH transfers. They closed my accounts for this stating I was a "High Risk" for Identity Theft.]

 

- Tampa Bay Federal CU 3.5% on first $1k with a $500 min (0.10% after)

 

- USAlliance Financial 2% on first $500 (0.02% after)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 1 of 63
62 REPLIES 62
ChazzieT
Frequent Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!

Added Service CU 5/18/20

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 2 of 63
recoveringfrombk7
Established Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!

Service CU also has a holiday club account that is 3% for the first 3k









Message 3 of 63
ChazzieT
Frequent Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!


@recoveringfrombk7 wrote:

Service CU also has a holiday club account that is 3% for the first 3k


Added to OP as well as adding Meriwest CU.

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 4 of 63
recoveringfrombk7
Established Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!

Where are you seeing Credif Union of NJ offers 2.53 after the first 500?  

 

https://www.cunj.com/personal-banking/savings/savings-rates/7-50-high-rate-share-savings-account-rat...









Message 5 of 63
recoveringfrombk7
Established Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!

Message 6 of 63
ChazzieT
Frequent Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!


@recoveringfrombk7 wrote:

Nevermind, found it here

 

https://www.cunj.com/personal-banking/savings/high-rate-savings/


Yes, but the first page you linked to says current as of today's date, so I've edited that out of the OP.

Current Cards:


Goal Cards:


Banks and Credit Unions:


Goal Credit Unions:



Income: $100k/year
Total CL: $151,700.00

Fico8 scores (as of 6/9/20):

Message 7 of 63
longtimelurker
Mega Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!

Both DoctorofCredit (https://www.doctorofcredit.com/high-interest-savings-to-get/) and DepositAccounts (https://www.depositaccounts.com/) have updated lists of best savings accounts, certificates of deposit, checking accounts etc.

IMO, the latter is more up to date, but DoctorofCredit also has reviews for some of them

Message 8 of 63
recoveringfrombk7
Established Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!


@longtimelurker wrote:

Both DoctorofCredit (https://www.doctorofcredit.com/high-interest-savings-to-get/) and DepositAccounts (https://www.depositaccounts.com/) have updated lists of best savings accounts, certificates of deposit, checking accounts etc.

IMO, the latter is more up to date, but DoctorofCredit also has reviews for some of them


There is also the matter of what hoops one needs to hop in order to join or to avoid fees.

 

The CUNJ 7.5% requires a Share Savings, and that account has a $100 minimum, for example - assuming I'm reading the fine print correctly.  The rate is still good, but it comes out closer to 6 and change if my math is right.  Still a good find that I will look into in a few months.  I've been on a CU spree lately and want to see what my Chex looks like before doing anymore.









Message 9 of 63
longtimelurker
Mega Contributor

Re: CU's to join for Savings Rate now and possible Credit Products later!


@recoveringfrombk7 wrote:

@longtimelurker wrote:

Both DoctorofCredit (https://www.doctorofcredit.com/high-interest-savings-to-get/) and DepositAccounts (https://www.depositaccounts.com/) have updated lists of best savings accounts, certificates of deposit, checking accounts etc.

IMO, the latter is more up to date, but DoctorofCredit also has reviews for some of them


There is also the matter of what hoops one needs to hop in order to join or to avoid fees.

 

The CUNJ 7.5% requires a Share Savings, and that account has a $100 minimum, for example - assuming I'm reading the fine print correctly.  The rate is still good, but it comes out closer to 6 and change if my math is right.  Still a good find that I will look into in a few months.  I've been on a CU spree lately and want to see what my Chex looks like before doing anymore.


Also, think of the small maxes.   7.5% on $500 is $37.50 a year (taxable as you say) and you can easily earn 1% elsewhere so it's $32.50 a year extra.    Is that worth the bother of opening and maintaining another account?    Now if the CU has other products that you use, fine.

Message 10 of 63
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