Had a talk with my credit union teller that flipped my thinking on savings accounts

She told me her credit union pays 4.5% APY on their high-yield checking while my big bank gives me 0.01%, so I moved $8,000 over last week and that one conversation saved me about $350 a year - has anyone else found credit unions beating the big banks on rates lately?

3 comments

3 Comments

riley_taylor16d ago

That 4.5% checking account is a total unicorn right now, most places top out around 3% to 4% for high yield. I noticed this pattern at my local credit union where they had way better mortgage rates than the big guys a few years back, but then their car loan rates were higher. It's like each type of bank has a couple areas they actually care about, and the rest is just filler.

charlie_ellis16d ago

Ha, @riley_taylor called it a unicorn and my savings account is just a tired old mule.

maryt6215d ago

That mule still plods along better than my old checking account did, lol.