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Which CU for savings

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Anonymous
Not applicable

Which CU for savings

I am currently a member of the following CUs, one of which is pending verification.

DCU
ALLIANT
NAVY FED
PENFED

Which one would you recommend for keeping a savings account? Currently I have it with PenFed but a little peeved they denied me for a CC so thinking about switching. Thank you!
Message 1 of 11
10 REPLIES 10
Kree
Established Contributor

Re: Which CU for savings

DCU offers 5% on the first 1000 saved.  So i would recommend putting 1000 into DCU regardless.

Message 2 of 11
Anonymous
Not applicable

Re: Which CU for savings

Why would you leave anything more than $5 in Penfed @ .05% APY in the first place?! If you're limiting yourself to those 4 choices, put $1000 into your DCU Primary savings @ 5% and then put the rest in Alliant @ 1.45%.
Message 3 of 11
iced
Valued Contributor

Re: Which CU for savings


wrote:
I am currently a member of the following CUs, one of which is pending verification.

DCU
ALLIANT
NAVY FED
PENFED

Which one would you recommend for keeping a savings account? Currently I have it with PenFed but a little peeved they denied me for a CC so thinking about switching. Thank you!

Other than leaving $1000 in DCU for 5%, I would say none. They're just not competitive on savings rates right now.

Message 4 of 11
Anonymous
Not applicable

Re: Which CU for savings

Patelco money market is currently 3% on first $0-2000, and 2% on $2000-5000

Message 5 of 11
SouthJamaica
Mega Contributor

Re: Which CU for savings


wrote:
I am currently a member of the following CUs, one of which is pending verification.

DCU
ALLIANT
NAVY FED
PENFED

Which one would you recommend for keeping a savings account? Currently I have it with PenFed but a little peeved they denied me for a CC so thinking about switching. Thank you!

The interest rate at Alliant is much higher than the other 3.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 6 of 11
howellco2
Frequent Contributor

Re: Which CU for savings

I use CIT Bank Savings  also have A 5K cd WITH Robins federal at 2.5


MAJOR BANK CARDS Amex BC 15k, Amex CM 1500, Amex Delta 1k, BB&T Travel 4500, BBVA 6900, CAP1QS 2600, Discover 3300, Marvel MC 6000, Wells Fargo CR 4500, Blispay 2k
CREDIT UNION CARDS DCU 2k , Robbins 10k, United1st 5k
STORE CARDS Amazon 10k, Home Depot 5k, PayPal 4k, Walmart 6k, Lowes 12k
Message 7 of 11
SouthJamaica
Mega Contributor

Re: Which CU for savings


@Anonymouswrote:
I am currently a member of the following CUs, one of which is pending verification.

DCU
ALLIANT
NAVY FED
PENFED

Which one would you recommend for keeping a savings account? Currently I have it with PenFed but a little peeved they denied me for a CC so thinking about switching. Thank you!

Alliant has better rates than NFCU and PenFed.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 8 of 11
mongstradamus
Super Contributor

Re: Which CU for savings

I use alliant for my savings account the rates are pretty good at 1.45 % probably not the very best out there , but they are much better than brick and mortar banks like BOA , WF , or chase where you won't find rates above .05% I believe. 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 9 of 11
Anonymous
Not applicable

Re: Which CU for savings

DCU has a much better rate for the first $1k; Alliant isn't a bad rate compared to the other two.

Although not a true savings, Navy does have a 15 month certificate right now over 2% with a low starting deposit

Message 10 of 11
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