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Which CU for savings

Contributor

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
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
Valued Contributor

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
Established 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
Valued Member

Re: Which CU for savings

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



Starting FICO: 590ish
FICOs: EX 681 TU 670 EQ 682 (Pre App Spree 1/11/18)
FICOs: EX 664 TU 670 EQ 693 (2/16/18)
FICOs: EX 667 TU 682 EQ 712 (5/8/18)
Goal: 700's Club

Gardening since February 2018
Message 5 of 11
Super 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.

Current FICO8 EQ 774 TU 794 EX 772
Message 6 of 11
Valued Member

Re: Which CU for savings

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

Starting Score: 01-2018-TU=645 EQ=598 EX=605
Current Score:03-05-1018 TU 667 EQ 665 EX 659
Goal Score: By 2019 --700+ Across the board


Take the myFICO Fitness Challenge
Message 7 of 11
Super Contributor

Re: Which CU for savings


@CassG1224wrote:
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.

 

 

Current FICO8 EQ 774 TU 794 EX 772
Message 8 of 11
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
Valued Contributor

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

State Farm Rewards (3,000) ~ Marvel MC (8,000) ~ PenFed Power Cash (10,000) ~ PenFed Promise (1,000) ~ PenFed OLOC (500) ~ Discover ($1,100) ~ Citi DC (2,200) ~ NFCU cashRewards (6,200) ~ NFCU Platinum (2,700) ~ NFCU CLOC (15,000) ~ Venture (10,300) ~ DCU Visa (5,000) ~ Chase Freedom (3,000) ~ Amex Hilton Honors (5,000) ~ Amex SPG (1,000) ~ Amex BCE (1,000) ~ Care Credit (15,000)
Current Scores (5/9/18): 695 Transunion, 659 Equifax, 675 Experian
Message 10 of 11