Beat High Costs with Credit Union Rate Secrets
Exploring Membership Benefits
Joining a credit union can also lead to substantial savings through dividends on savings accounts. Credit unions often provide higher interest rates on savings accounts and certificates of deposit (CDs) compared to banks. For example, some credit unions offer savings account rates that are up to 0.5% higher than the national average2. This means more money in your pocket just for keeping your funds with a credit union.
Moreover, credit unions usually have lower fees across the board. Many credit unions offer free checking accounts with no monthly maintenance fees and lower overdraft charges. These low-cost services can lead to significant annual savings, especially for those who frequently use banking services.